VOL. XL

No. 22

2-June-1997

IRAN

Iranian Partnership Papers

In its Annual Review for the Iranian year 1374, (year to 19 March1996) the Central Bank of Iran details the partnership papers outstanding at the year-end.The Review shows that in March 1996, there were some IR350bn ($117mn) of partnershippapers - which are in essence bonds - in issuance and that the first issue by the Tehranmunicipality accounts for the great bulk of the total in the market. The papers are usedto finance specific...