Saudi Arabia sells $1.56 billion in fifth tranche Islamic bond offer

Riyadh financial district. (Shutterstock)
Updated 23 January 2018

Saudi Arabia sells $1.56 billion in fifth tranche Islamic bond offer

DUBAI: Saudi Arabia’s Ministry of Finance announced on Monday that it had sold domestic sukuk for $1.56 billion in its fifth monthly offer of Islamic bonds.
The ministry sold $1.1 billion of five-year sukuk, $60 million of seven-year and $400 million of 10-year.
Last month, the ministry sold $1.273 billion of domestic sukuk.


Report: 2 Iranian lawmakers arrested for ‘disrupting’ market

Updated 22 August 2019

Report: 2 Iranian lawmakers arrested for ‘disrupting’ market

  • The report did not reveal if they have been charged with any financial crimes
  • Iran arrested several people since 2018 on corruption charges

TEHRAN: Iran’s semi-official Fars news agency says two lawmakers have been arrested for unspecified actions described as “disrupting” the country’s car market.
The report says the two lawmakers — Fereydoun Ahmadi and Mohammad Azizi — were initially taken to the Evin prison in Tehran but they were later released for about $85,000 in bail.
The report didn’t specify if the two have been charged with any financial crimes.
Iran is trying to crack down on corruption and has arrested several persons since 2018. Two prominent local businessmen have been hanged.
Iran’s economy nosedived since the US pullout from the nuclear deal last year. Prices of cars have skyrocketed as Western manufacturers pull out of the country and foreign-produced parts are becoming harder to find. China is trying to fill the void.