Iran's 14th Government Bond Auction Sells 20.45 Trillion Tomans, Reaching 29.5 Percent of Budget Target

According to Ecoiran, published Saturday, September 12, 2026 (21 Shahrivar 1405), Iran's 14th Islamic treasury bond auction sold 20.45 trillion tomans (about 43.6 percent) of the 46.92 trillion tomans on offer. Of the four bonds offered (Arad296, Arad297, Arad299 and Arad305), only Arad299 drew bank demand, with one bank buying 450 billion tomans of it; the remaining roughly 20 trillion tomans of Arad305 was bought by capital market investors, both individuals and institutions.

Per the report, cumulative government bond sales across 14 auctions have reached 304.38 trillion tomans, only about 29.5 percent of the 1,030 trillion toman target set in the 1405 budget; reaching that target in full would require roughly another 725.6 trillion tomans. Ecoiran added that the banking network's share of this auction was just 2.2 percent, with most of the financing coming through the capital market.