Central Bank: Issuing FX Forward Bonds on the Commodity Exchange Has No Legal Basis

Iran's Central Bank said on Wednesday, September 16, 2026 (25 Shahrivar 1405), that reported plans by the Iran Mercantile Exchange to design and issue FX forward bonds have no legal basis. According to Tasnim News Agency, relayed by Donya-e-Eqtesad, the Central Bank noted that under clause (h) of Article 44 of the Central Bank Law, approving regulations governing the issuance of FX-based financial instruments and currency derivatives falls exclusively under the authority of the Central Bank's Supreme Council, and any such move must follow that council's approvals and the legally prescribed procedures. The Central Bank also stressed it currently has no plan to develop or issue FX debt instruments such as FX forward bonds in the capital market.