No Banks Took Part in Iran's 15th Government Bond Auction; Only 22.5 Percent of Supply Sold

According to a report from the Central Bank of Iran and Iran Farabourse, published by EcoIran on Saturday, September 19, 2026 (28 Shahrivar 1405), the government's 15th Islamic treasury bond auction, held on Tuesday, September 15 (24 Shahrivar), drew weak demand. Four series of Erad Islamic treasury bonds were offered for a combined 46.42 trillion tomans (Erad296: 3.89, Erad297: 7.5, Erad299: 8.03 and Erad306: 27 trillion tomans), but the Central Bank said no banks took part, leaving only non-bank financial institutions and capital market firms as buyers.

No bids were recorded for Erad296 and Erad299. Erad297 drew only 400 billion tomans in demand and Erad306 about 10 trillion tomans, both approved by the Ministry of Economic Affairs and Finance. In total, 10.4 trillion tomans of bonds were sold, equal to 22.5 percent of the offering, roughly 10 trillion tomans less than the previous week's auction. Farabourse put Erad297's yield to maturity at 40.61 percent, Erad296's at 39.8 percent and Erad299's at 38.5 percent; Erad306's yield was not yet registered due to a lack of trading.

Of the government's 1,030 trillion toman bond sale ceiling set in this year's budget, 314.78 trillion tomans, equal to 30.5 percent of that ceiling, has been sold since the start of the Iranian year through September 15.