Taminmali — Iran Financing News in English

Damavand Investment Bank's Assets Under Management Pass 60 Trillion Tomans

Damavand Investment Bank has pushed its total assets under management past the 60-trillion-toman mark, Bourse24 reported. Growth in assets under management is a key yardstick of an investment bank's performance and of its success in attracting financial resources; crossing this level, the bank said, reflects its capacity to manage diverse financial resources and to offer investment solutions matched to investors' needs. Damavand said preserving investor trust and developing its financial products and services underpin the continuation of this trend and strengthen its competitive position in the investment-banking industry.

Iran Unveils First 'Milk Forward' Bonds; 500-Billion-Toman Pegah Package on the Mercantile Exchange, Amin Named Issuer

Ahmad Meydari, the minister of cooperatives, labour and social welfare, unveiled Iran's first 'milk forward' (salaf) bonds on Monday 18 Aban 1405 (9 November 2026), at the ceremony marking the 72nd anniversary of Iran Dairy Industries (Pegah), held in the president's presence, Iran Online reported via the government information portal. Under the model, the investor takes part in buying dairy cattle (heifers) and, over the animal's four-to-six-year productive life, shares in the calves born and in the value of the milk and meat produced; based on expert studies, a commodity return equal to 6% of the daily price of milk accrues to the investor, and at the end of the two-year term the principal is also calculated at the current value of the cattle and milk. Meydari said the 500-billion-toman package has been finalised with the Securities and Exchange Organization, that repayment of principal and return is guaranteed by Pegah and Tose'e Ta'avon Bank, and that Amin Investment Bank will be the issuer of the bonds; early exit is possible after a minimum of one year. The announcement unveils and finalises the package; a subscription start date has not yet been announced.

Capital-Market Financing Tops 1,146 Trillion Tomans in Seven Months, Up 55%; Government Accounts for 86.2% of Bond Issuance

Financing raised through Iran's capital market in the first seven months of 1405 rose 55% from the same period a year earlier to more than 1,146 trillion tomans, with 66% of the entire previous year's total already achieved within seven months, according to the monthly report of the Economic and Risk Analysis Department of the Securities and Exchange Organization, as reported by BourseNews. The total comprised more than 243,679 billion tomans from equity methods such as IPOs and capital increases, 878,626 billion tomans from issuing various types of debt securities, and 24,170 billion tomans from crowdfunding platforms. Debt issuance in the seven months was about 879 trillion tomans, against 430 trillion tomans in the same period last year and 955 trillion tomans in the whole of the previous year; the government's share of bond issuance was 86.2%, the non-government sector's 11.4% and municipalities' 2.4%. The outstanding stock of unmatured debt securities rose from 1,440 trillion tomans at the end of Mehr 1404 to 2,407 trillion tomans at the end of Mehr 1405, and outstanding government bonds reached 2,017 trillion tomans, up 7.6% from Shahrivar.

Central Bank Issues Amended Directive for FX Murabaha Bonds; Cap of 200 Million Euros per Project

The amended executive directive for offering foreign-currency murabaha bonds has been issued under Central Bank circular No. 05/203884 dated 9 Aban 1405 (31 October 2026); the directive, in five chapters comprising 27 articles and 13 notes, was approved by the Central Bank's High Council and replaces the previous directive from the date of issue. Offering the bonds is permitted only with a Central Bank licence, and the cap is 200 million euros per project or the equivalent in other convertible currencies, which may be raised with the Central Bank's permission. Purchases are made in two stages: placing a buy order, then paying transferable foreign-currency amounts into an account introduced by the agent; funding for repayment of principal and profit and for the participants' fees may also come from the foreign-currency income of the issuer, the issuer's shareholders or the issuer's group companies. Buyback of the bonds before maturity is not permitted without case-by-case approval of the Central Bank's Currency Commission; with that commission's consent, the issuer may repurchase up to 20% of the nominal amount at par plus accrued unpaid profit, and profit is calculated on the basis of the actual number of days in the month and year. Provided they comply with the Central Bank's foreign-exchange requirements, the approvals of the High Council of the Exchange and the rules of the Securities and Exchange Organization, the bonds will be tradable.

Central Bank Issues FX Wakalah Bond Directive; Cap of 250 Million Euros per Project

The Central Bank has issued the executive directive for offering foreign-currency wakalah bonds (based on Islamic contracts) under circular No. 05/203923 dated 9 Aban 1405 (31 October 2026), following approval by the bank's High Council. The aim of the instrument is to mobilise individuals' foreign-currency resources and put them to work financing the fixed capital or working capital of specified projects; it may be used for several projects, and holdings may also use it for their own projects. The offering cap is set at 250 million euros per project, or the equivalent in other currencies approved by the Central Bank, and may be raised with the bank's permission. The issuer may spend the proceeds only on purchasing the underlying asset and transferring its ownership through Islamic contracts to applicant companies or projects; it must report the documentation of expenditures and project progress reports, after the trustee's confirmation, at six-month intervals; and conversion of the foreign currency raised into rials by the issuer and the agent is prohibited. The type of currency, the profit-rate cap and the maturity of the bonds are determined by the Central Bank's FX Facilities Commission, and the Currency Exchange Center, as the Central Bank's representative, is responsible for monitoring the offering process and the fulfilment of obligations.

Subscription for 2-Trillion-Toman Murabaha Bonds of Digikala's Owner Opens 13 Aban on Fara Bourse

Subscription for the murabaha bonds of Noavaran Fan Avazeh (a private joint-stock company), the owner of Digikala, totalling 2,000 billion tomans, opens on Wednesday 13 Aban 1405 (4 November 2026) for three business days through Iran Fara Bourse's modern financial instruments market. The issue comprises 20 million bonds with a par value of 100,000 tomans (one million rials) each; its rate is 23% per year with payments every three months, its term is 48 months and its maturity date is 13 Aban 1409. The purpose of the issue is to finance working capital for purchasing inventory. The issuer is the financial intermediary Mordad Panjom, the sponsor Noavaran Fan Avazeh, the guarantor Parsian Bank, the issuance adviser Toranj Investment Advisory and the selling agent Tadbirgaran Farda Brokerage, and the trading symbols are Digikala91, Digikala92 and Digikala93. The minimum volume per order is 5,000 bonds and the maximum purchase per individual or legal person is one million bonds, and subscription is conducted by auction.

Capital-Market Financing Up 42% in First Half of 1405

Total financing through the capital market reached 899,000 billion tomans in the first half of 1405, up 42% year on year and equal to about 51.5% of last year's total financing. By method, equity issuance and capital increases accounted for 205,385 billion tomans, debt securities for 676,357 billion tomans and crowdfunding for 16,869 billion tomans. The government's share of debt securities was reported at 86.1%, the non-government sector at 11.1% and municipalities at 2.8%, while outstanding debt securities rose from 1,383 trillion tomans in Shahrivar 1404 to 2,243 trillion tomans in Shahrivar 1405.

Subscription Opens for 5-Trillion-Toman Sirjan Steel Murabaha Sukuk on Tehran Stock Exchange

Subscription for the murabaha sukuk of financial intermediary Mordad Panjom, issued to finance Foolad Sirjan Iranian, runs from 27 to 29 Mehr 1405 on the Tehran Stock Exchange. The 5,000-billion-toman issue is offered in two 2.5-trillion-toman tranches under the symbols Sasko907 and Sasko97, at a 23% annual rate, with a four-year maturity to 1409.07.27 and quarterly coupon payments, to fund raw-material purchases. Mellat Investment Bank is the underwriter and market maker for the Sasko907 symbol.

Sirjan Steel Raises 2 Trillion Tomans via Iran Mercantile Exchange

The initial offering of parallel standard salam securities (steel billets) of Foolad Sirjan Iranian, worth 20,000 billion rials, will take place on Saturday, 2 Aban 1405, on the Iran Mercantile Exchange to fund working capital. The offering totals 41,270 tonnes in 2,370,300 contracts priced at 8,437,720 rials per 10-kilogram contract. Secondary trading in the securities begins on 3 Aban 1405 and continues until 2 Aban 1407.

500-Billion-Toman Caspian Tamin Murabaha Subscription Opens 26 Mehr on IFB

Subscription for Caspian Tamin Pharmaceutical's murabaha bonds, symbol Caspian09, runs from Sunday, 26 Mehr, to 28 Mehr 1405 on the Iran Fara Bourse's new financial instruments market. The 500-billion-toman issue comprises 5 million bonds at a 23% annual rate, a 48-month tenor maturing 1409.07.26, with quarterly coupon payments. Proceeds will fund working capital for raw-material purchases; the bonds carry a long-term A- and short-term A1 credit rating from Paya, have no underwriter, and Saba Tamin Brokerage acts as selling agent.

Dayo Pars Issues 300-Billion-Toman Murabaha; Kimia Investment Bank Named Underwriter

Subscription for Dayo Pars murabaha bonds, symbol Dayo09, will be held by auction from Sunday, 26 to 28 Mehr 1405 on the Fara Bourse. The 300-billion-toman issue comprises 3 million bonds at a 23% annual rate with a 28-month tenor; the issue date is given as 1405.07.26 and maturity as 1409.07.26. Kimia Investment Bank is both underwriter and market maker for the bonds, whose proceeds will finance raw-material purchases.

Editor’s note: the source gives both a 28-month tenor and a maturity date of 1409.07.26; these are inconsistent as reported and are reproduced here as given.

Islamic Treasury Bills Akhza5041 to Debut Tuesday on Fara Bourse

Iran Fara Bourse has announced the initial offering of Islamic treasury bills under the symbol Akhza5041 on Tuesday, 28 Mehr 1405. The bills, issued 1405.05.10 and maturing 1408.05.09, have a face value of 1 million rials each and are registered and tradable on the Fara Bourse. The minimum initial offering volume is 10,000 bills and the trading lot is 200,000 bills; the closing price on the opening day will be the day's weighted average trading price.

Crowdfunding Overtakes Corporate Bonds on IFB; 19 Trillion Tomans Raised in Six Months

The CEO of Iran Fara Bourse said crowdfunding reached 18,928 billion tomans in the first half of 1405, exceeding all of last year's crowdfunding total. In the period, 750 projects were financed, up 123% from 337 projects in the same period of 1404. For the first time, the volume of crowdfunding through the Fara Bourse has surpassed corporate bond subscriptions, and its share of total debt financing on the Fara Bourse reached 51%, compared with less than 1% in 1400.

Crowdfunding Volume Surpasses Corporate Bonds

According to the CEO of Iran Fara Bourse, crowdfunding volume in the first seven months of 1405 rose from 8.5 to 21.5 trillion tomans, and the number of financed projects from about 450 to nearly 820. The crowdfunding default rate was put below 1%, at around 0.8%, falling to about 0.2% when platforms whose licences were revoked are included. Crowdfunding's share of all debt-based instruments on the TSE and Fara Bourse rose from 0.4% in 1400 to 32.4% in the first half of 1405, and in that half its 18,928-billion-toman volume exceeded Islamic financial bond subscriptions on the Fara Bourse of 18,530 billion tomans.

Crowdfunding Volume Reaches About 58 Trillion Tomans

According to Tasnim, the CEO of Iran Fara Bourse has said crowdfunding volume has reached about 58,000 billion tomans. The full text of this news item did not render properly on the source page, so this summary is limited to the headline fact and the statement attributed to the Fara Bourse CEO.

Editor’s note: headline-only summary — the full source text was not accessible.

Economy Ministry Calls for Outright Purchase of Government Bonds Maturing by End of 1405

The Ministry of Economic Affairs and Finance has invited holders of general government murabaha bonds and Islamic treasury bills maturing by the end of 1405 to register sell orders on Saturday, 2 Aban 1405, between 9:00 and 12:00, through Fara Bourse member brokerages on the Farasan system. The minimum order size is 5 million bonds, and uploading a stamped and signed image of the sell request is mandatory. Trading in accepted bonds will take place on Tuesday, 5 Aban, with the Central Bank's independent trading station acting as buyer.

Government Sells Financial Bonds at 23% Profit Rate

To select primary dealers for government Islamic financial bonds, the Ministry of Economic Affairs and Finance will hold a price quotation on Monday, 13 Mehr 1405, from 9:00 to 12:00, via the Tehran Stock Exchange Technology Management Company's quotation system. The bonds are general murabaha type with a face value of 1 million rials per bond and a 23% annual nominal profit rate, with coupons paid every six months. Maturities run at most to the end of Bahman 1407 and 1408, and the minimum purchase amount during the contract period is 15,000 billion tomans for the 1407 maturity and 30,000 billion tomans for the 1408 maturity.

Production Tamin-Yar Card Rules Issued; Business Working Capital Financing Eased

The executive rules for the Production Tamin-Yar Card, a credit financing tool based on GAM (productive credit certificate) bonds, were approved at the Central Bank's Monetary and Credit Operations Commission on 8 Mehr 1405 and then communicated to banks. The card targets licensed individuals, including production, distribution and service guilds, and each applicant's credit ceiling is at most five times the interest-free loan ceiling for guilds — 50 billion rials. The card is valid for at most six months, purchases of goods and services are funded by issuing GAM bonds in favour of the acceptor, and customer obligations to the bank are repaid in instalments over at most 24 months.

Fara Bourse Operating Revenue Jumps 230%; 709 Billion Tomans in First Half

Iran Fara Bourse reported operating revenue of 709 billion tomans in its interim six-month financial statements for the period ended Shahrivar 1405, up 230% year on year. Gross profit grew at the same 230% rate to 709 billion tomans, and net profit rose 141% to 23 billion tomans. Earnings per share were 386 rials and registered capital was 1,580 billion tomans.

Exchange Revenues on the Rise; Tehran Stock Exchange Tops the Table

In the first half of 1405, Iran Mercantile Exchange earned 4,168 billion tomans, Tehran Stock Exchange 1,511 billion tomans, Iran Fara Bourse 709 billion tomans and Iran Energy Exchange 236 billion tomans in operating revenue. Revenue growth for the four exchanges versus the same period last year was 184%, 215%, 230% and 131% respectively. In the six months, the exchanges realised 99% to 134% of their full-year 1404 revenue — far above the standard 50% half-year ratio.

Mana Mellat Currency Fund Ceiling Raised 100%

After the initial $10 million capacity of the Mana Mellat currency fund was fully taken up, the Securities and Exchange Organization approved a 100% increase in the fund's investment-unit ceiling. Subscription for the fund — the country's first currency investment fund — began on 25 Shahrivar 1405 and closed in early Mehr after fully absorbing the projected resources. About 90% of the funds raised came from small retail investments in banknotes and the remaining 10% from currency remittances; the fund is managed by Mellat Investment Bank.

Details of Subscription and Mechanism for Second Currency Fund

Subscription for the Kimia National Currency Fund, the capital market's second currency fund, begins on Tuesday, 28 Mehr 1405, at Bank Melli Iran's foreign-exchange branches. The fund was established with $10 million in initial capital, with the participation of the National Iranian Copper Industries Company, Bank Melli Iran, and management by Kimia Investment Bank; the minimum investment is $100, equal to ten $10 units. Fund resources are invested in currency deposits, currency deposit certificates, currency murabaha bonds and other currency instruments, and its projected return is about 5% per year in foreign currency.

In-Principle Approval Issued for a New Gold Fund

The Securities and Exchange Organization's Investment Fund Supervision Center has issued in-principle approval for Tavoos Khavarmianeh Investment Bank to establish a tradable commodity-certificate-based investment fund in the gold-metal segment. The fund's size is set at a minimum of 50 million and a maximum of 500 million investment units, each with a face value of 10,000 rials.

Why Lotus Parsian's Operating Profit Changed

Lotus Parsian Investment Bank has said its operating profit for the current fiscal year rose 35% versus the same period last year. The company attributed the growth to more underwriting commitments and bond market-making, as well as a larger volume of investment funds under management. According to the company, growth in fee income from these two factors provided more resources for investment, and together they drove the operating-profit increase. The exact publication date was not given on the source page; only the Shahrivar 1405 timeframe is citable.

Lotus Parsian: Revenue Up 50%, Net Profit Jumps 66%

In its nine-month financial statements to Mehr 1404, Lotus Parsian Investment Bank reported operating revenue of 4,429 billion tomans, up 50% from 2,957 billion tomans a year earlier. Gross profit rose 66% to 3,582 billion tomans and net profit increased 66% from 1,787 billion tomans to 2,965 billion tomans. The company's latest registered capital was 6,500 billion tomans and earnings per share were 456 rials.

Tamavand Announces New Underwriting Commitments

Damavand Investment Bank has announced it has taken on underwriting and market-making commitments for the ijara sukuk of Golgohar Iron and Steel Development Company, symbol Sogol504. The bonds carry a 23% annual profit rate and were issued with maturity 1405.04.18. Total underwriting and market-making income from the bonds was put at 4,800,000 million rials, comprising 1,250,000 million rials of underwriting income immediately after subscription and 3,550,000 million rials of market-making income to be recognised over two years. The exact publication date was not given on the source page; only the Shahrivar 1405 timeframe is citable.

Tadavam Fund Assets Jump 146%

Assets under management of the Tadavam Etminan Tamadon fund rose 146% from 14.8 thousand billion tomans at the end of 1404 to 36.5 thousand billion tomans by 25 Mehr 1405, while the average growth of the 15 largest funds in the same peer group was 83% over the same period. The fund's market share of total tradable fixed-income funds with accumulating profit rose from 2.6% at the start of the year to 3.5% on 25 Mehr, ranking it eleventh in the group by assets under management. Its daily-compounded return was put at a 40% annual rate, and the fund is managed by Tamadon Investment Bank.

500-Billion-Rial Takran Mobarred Campaign Launches on IB Crowd

According to the list of news items related to Tamadon Investment Bank on Atlas-e Eqtesad, a 500-billion-rial campaign by Takran Mobarred on the IB Crowd crowdfunding platform, affiliated with Tamadon Investment Bank, launched on 23 Mehr 1405. Further details of the campaign were not published in an independent news text, and this summary is limited to the headline fact.

Editor’s note: headline-only summary — the full source text was not accessible.

Sepehr Investment Bank: 62 Trillion Tomans in Assets Under Management in Industry Comparison

In the investment-bank industry comparison published by BourseNews, the value of funds managed by Sepehr Investment Bank was estimated at 62,000 billion tomans. In the ranking, Lotus Parsian leads with 312,000 billion tomans, followed by Mellat Bank with 194, Tamadon with 164, Kardan with 156 and Novin with 107 thousand billion tomans. No separate five-month revenue figure was given for Sepehr Investment Bank in the report, and no fresher dedicated news item about the company was found in searches.

Omid's Nine-Month Net Profit Reaches 3,097 Billion Tomans, Up 62%

In its nine-month financial statements to Shahrivar 1405, Omid Investment Bank reported net profit of 3,097 billion tomans, up 62% year on year. Operating revenue rose 25% to 5,440 billion tomans, gross profit increased 72% to 3,731 billion tomans, and earnings per share were 890 rials. The company attributed the more-than-30% change in operating profit to improved conditions on the Tehran Stock Exchange over the nine months and a 68% rise in operating profit versus the same period last year.

Omid Investment Bank Gets a New CEO

By order of the CEO of Omid Investment Group, Mohammad Sorayanejad has been appointed as the new CEO of Omid Investment Bank. The management change follows the resignation of Ali Pazooki from the CEO post. Sorayanejad previously ran Bank Melli Iran's brokerage.

Novin (Tanvin) Distributes 390 Rials Dividend per Share

The annual general meeting of Novin Investment Bank, symbol Tanvin, was held with more than 90% of shareholders present and approved a cash dividend of 390 rials per share, equal to 78% of distributable profit. The CEO told the meeting that the group's assets under management had reached 67,000 billion tomans and that the company issued about 3.7 thousand billion tomans in bonds last year. Eleven investment funds are also active within the Novin Investment Bank group.

Kardan's Nine-Month Net Profit Jumps 120%

In its interim nine-month financial statements to 1405.06.31, Kardan Investment Bank reported net profit of 3,742.3 billion tomans, up 120% from 1,698.3 billion tomans a year earlier. Operating revenue rose 77% to 7,132.8 billion tomans and gross profit increased 123% to 4,309.3 billion tomans. Operating profit grew 127% to 3,890.9 billion tomans and basic earnings per share were 748 rials.

Takardan Prepares a Capital Increase

The board of Kardan Investment Bank has approved a 67% capital increase from about 3,000 billion tomans to about 5,000 billion tomans, funded from retained earnings. The stated aim of the increase is to prevent cash outflow following dividend distribution and to benefit from the tax exemption in Article 14, Clause (th) of the Production and Infrastructure Financing Law. The increase is subject to obtaining the necessary licences from the Securities and Exchange Organization and approval by an extraordinary general meeting of shareholders.

Bank Maskan Investment Bank: 61 Trillion Tomans in Assets Under Management in Industry Comparison

In the investment-bank industry comparison published by BourseNews, the value of funds managed by Bank Maskan Investment Bank was estimated at 61,000 billion tomans. In the ranking, Lotus Parsian leads with 312,000 billion tomans, followed by Mellat Bank with 194, Tamadon with 164, Kardan with 156 and Novin with 107 thousand billion tomans. No fresher dedicated news item about Bank Maskan Investment Bank was found in searches, and this item is recorded solely on the basis of the industry comparison.

Khalij Fars Investment Bank: 21.7 Trillion Tomans in Assets Under Management, 80% Revenue Growth in Industry Comparison

In the investment-bank industry comparison published by BourseNews, the value of funds managed by Khalij Fars Investment Bank was put at 21.7 thousand billion tomans and its revenue for the first five months of 1405 at 675 billion tomans, up 80% year on year. The company, together with Amin Investment Bank at 17.5 thousand billion tomans, was presented as the smallest investment banks by capital attracted in the comparison. No fresher news item about the company in a standalone page was confirmed in searches, and this item is based on the industry comparison.

Tavoos Khavarmianeh Investment Bank Realises 184 Billion Tomans in Profit

In the six-month period to 1405.06.31, Tavoos Khavarmianeh Investment Bank recorded operating revenue of 210 billion tomans. Given its newly obtained operating licence and the absence of operating activity in the same period last year, these figures mark the start of its operating revenue formation. Gross profit was equal to total operating revenue, 210 billion tomans, and after deducting 21 billion tomans in administrative and general expenses and 4 billion tomans in other operating expenses, operating profit was 186 billion tomans; after recognising 2 billion tomans in tax, net profit of 184 billion tomans was realised.

Expanding Underwriting and Market-Making Commitments Drives Takimia's Profit Surge

In the six-month period to 31 Shahrivar 1405, Kimia Investment Bank recorded 187% growth in operating profit and 196% growth in net profit versus the same period last year, while pre-tax profit rose 195%. According to Bourse24, the trend was driven by new contracts, expanded underwriting and market-making activity, and income recognised from changes in the value of investments.

Private bond offerings in the capital market; supply-chain financing grows 12-fold

The head of the National Financing Center at the Ministry of Economic Affairs and Finance told Sena (the capital-market news base) that supply-chain financing volume has risen from about 250 trillion rials in the first half of 1404 to about 3 quadrillion rials — a 12-fold increase. He introduced private bond offerings in the capital market as a new corporate financing channel, letting firms raise funds faster with investor participation and structures suited to each project's scale. Named instruments include GOM credit receipts, documentary credits, bank guarantees, development of non-government guarantee funds, and broadening collateral-eligible assets (shares, life insurance, deeds and real estate), with an emphasis on knowledge-based firms.

Leveraged funds' price band widened to ±6% from 16 Aban

The SEO's deputy for supervision of financial institutions told Sena that a regulatory reform package for leveraged funds was approved by the SEO board. Its four pillars: adding a market-maker to the leveraged-fund structure, revising the performance-fee calculation basis for managers, reworking how regular units' return rates are set, and widening the trading band. From Saturday 16 Aban 1405, the price band of tradable units of leveraged equity funds on the Tehran Stock Exchange and Farabourse rises from ±4% to ±6%. The minimum and maximum return rates of regular units will be set from the weighted average monthly return of the five largest fixed-income ETFs by net assets, reviewed every six months.

Persian Gulf Investment Bank (Tefars) details over-30% rise in six-month net profit

Persian Gulf Investment Bank (symbol: Tefars) explained the increase of more than 30% in its net profit for the six months ending 22 September 2026 compared with the same period last year. The bank cited three drivers: higher bond marketing income alongside management of bond market-making costs; recognition of investment revaluation gains and losses under Accounting Standard No. 15, in force since the start of 1405; and gains from selling investment fund units.

Refah Kargaran Bank GAM certificates admitted to Iran Fara Bourse; 994 billion tomans in three symbols

Iran Fara Bourse admitted Refah Kargaran Bank's productive credit certificates (GAM) to its new financial instruments market in three symbols: GAM060313 worth 200 billion tomans, issued 2 September 2026 and maturing 21 June 2027; GAM060413 worth 200 billion tomans maturing 22 July 2027; and GAM060513 worth 594 billion tomans, issued 24 August 2026 and maturing 22 August 2027 — 994 billion tomans in total. Each certificate has a face value of 100,000 tomans; Refah Kargaran Bank is the issuing agent and guarantor and the Central Securities Depository is the paying agent. The certificates fund sound, sustainable working capital for production units, carry no periodic interest, and are settled at face value at maturity.

IBCrowd launches 500-billion-rial crowdfunding campaign for Kia Kam Pharmed

A crowdfunding campaign for Kia Kam Pharmed, targeting 500 billion rials, has opened on IBCrowd, Tamadon Investment Bank's crowdfunding platform. The 12-month campaign funds working capital for producing and selling health and skincare products, offers a projected 41% annual return paid quarterly with principal repaid at maturity, and is backed by a bank payment-commitment guarantee. The campaign is floating with a 60% threshold, runs for 14 days from 20 October 2026, with a minimum ticket of 10 million tomans and a 2.5 billion toman cap for individuals. The company's sales rose from 3,200 billion rials in 1403 to 6,307 billion rials in 1404, and IBCrowd has financed 203 projects worth about 4.9 trillion tomans to date.

IBCrowd launches crowdfunding campaign for Novin Joojeh Sabalan

A crowdfunding campaign for the Novin Joojeh Sabalan parent-stock company (Ross broiler day-old chick breeding and sales) has opened on IBCrowd, Tamadon Investment Bank's platform, according to Tamadon's public relations. The 12-month campaign projects a 41% annual return (not guaranteed), paid quarterly, with principal and the final instalment repaid at maturity, backed by a bank payment-commitment guarantee. The minimum ticket is 10 million tomans, the cap per individual investor is 1.25 billion tomans, and fundraising runs for 14 days from 21 October 2026 under the symbol TamadSabalan with a floating 60% threshold; the campaign's target amount was not stated in the announcement. The company's sales were 2,807,402 million rials in 1404, and IBCrowd has financed 204 projects worth over 4.9 trillion tomans.

Tamadon's Gohar Nafis ranked top mixed fund with an 86.5% return

Tamadon Investment Bank's Gohar Nafis mixed fund returned 86.5% in the period ending 17 October 2026, ranking first among Iran's mixed funds and 11.5 percentage points ahead of the runner-up, according to Tamadon's public relations. Its Etemad Tamadon mixed fund returned 61.8% against a peer-group average of 47%. Gohar Nafis assets under management grew 81% from 6,625 billion rials to 11,982 billion rials, lifting its market share from 5.7% to 7.64%, while Etemad Tamadon assets grew 61% to 2,249 billion rials. The total market of the 12 active mixed funds rose from 116,476 billion rials at the end of Esfand 1404 to 156,817 billion rials.

Bank Keshavarzi's 524.9 billion toman GAM certificates admitted to Iran Fara Bourse

Bank Keshavarzi's productive credit certificates (GAM) have been admitted to Iran Fara Bourse under the symbol GAM060516, according to an Iran Fara Bourse notice reported by Bourse24. The certificates total 524.9 billion tomans, were issued on 5 September 2026 (14 Shahrivar 1405) and mature on 22 August 2027 (31 Mordad 1406).