Bir Forex robotu inşa etmek için sipariş , Bir hisse senedi alım satım robotu inşa , Bir ticaret robotu inşa et , Tüccar robot tasarımı , Ücretsiz Forex Robotu , Forex robot programlama , Forex Uzmanı Yapma Eğitimi , Python ile bir ticaret robotu oluşturun , Forex Ticaret Robotunu İndirin , Satın Al Forex Trader Robotu , Otomatik Forex Robotu , Ücretsiz hisse senedi alım satım robotu , Forex ticaret robotu yapmayı öğrenin , Alpari ticaret robotu , Android için Forex robotu , MetaTrader robot tasarımı , MetaTrader robot programlama , Forex robot tasarımı , Forex robot programlama , Otomatik ticaret , اطلب بناء روبوت الفوركس و بناء روبوت تداول الأسهم و بناء روبوت تداول و تصميم متداول مجاني و روبوت الفوركس روبوت و برمجة روبوت الفوركس و التدريب لجعل الفوركس خبيرًا و بناء روبوت تداول باستخدام بايثون و تنزيل روبوت تداول الفوركس و شراء روبوت تداول الفوركس و روبوت الفوركس الآلي و روبوت تداول الأسهم المجاني و التدريب على صنع روبوت تداول الفوركس و تنزيل روبوت تداول الأسهم الإيرانية و روبوت تداول Alpari و روبوت الفوركس لنظام Android و تصميم روبوت MetaTrader و تصميم روبوت MetaTrader و روبوت الفوركس و برمجة Forex Robot و التداول الآلي و سفارش ساخت ربات فارکس و ساخت ربات معامله گر بورس و ساخت ربات معاملاتی و طراحی ربات تریدر و ربات فارکس رایگان و برنامه نویسی ربات فارکس و آموزش ساخت اکسپرت فارکس و ساخت ربات معامله گر با پایتون و دانلود ربات معامله گر فارکس و خرید ربات تریدر فارکس و ربات فارکس خودکار و ربات معامله گر بورس رایگان و آموزش ساخت ربات معامله گر فارکس و ربات معامله گر آلپاری و ربات فارکس برای اندروید و طراحی ربات متاتریدر و برنامه نویسی ربات متاتریدر و طراحی ربات فارکس و برنامه نویسی ربات فارکس و تجارت خودکار و Order to build a Forex robot , Build a stock trading robot , Build a trading robot , Trader robot design , Free Forex Robot , Forex robot programming , Forex Expert Making Tutorial , Build a trading robot with Python , Download Forex Trading Robot , Buy Forex Trader Robot , Automated Forex Robot , Free stock trading robot , Learn how to build a Forex trading robot , Alpari trading robot , Forex robot for Android , MetaTrader robot design , MetaTrader robot programming , Forex robot design , Forex robot programming , Automated trading - فريق الروبوت الفوركس

The difference between bonds and partnership bonds

The difference between bonds and partnership bonds
  • What kind of bonds are bonds and what is the purpose of their issuance?
  • What are the types of bonds and for what purpose are they issued?
  • What are the differences between bonds and bonds?


What are bonds?

Bonds are a type of debt securities by which the issuer of the bonds (which are usually legal entities and institutions) undertakes to pay an amount as periodic interest until the maturity date, and at the maturity date to return the principal amount to the buyer. Refund bonds. The interest payment of these bonds is usually paid in one-month, three-month, six-month and annual periods.

These bonds are issued to finance governments and other public and private institutions. The remarkable thing about these bonds is that the issuer of the bonds is not necessarily the sponsor and may have issued these bonds to finance the company or another institution.

Features of bonds

1. The holders of these bonds do not have ownership rights over the supplier company and can only receive their principal amount along with interest as a creditor. These people will not even be eligible for dividends.

2. Bonds have a specific maturity date, which can be at one point in time or come gradually.

3. Generally, these bonds have a specific nominal value.

4. In case of bankruptcy of the company, the owners of the bonds have priority over the shareholders of the company to receive the principal of the debt and its interest.

5. Some companies issue their bonds with credible collateral to instill confidence in investors and motivate them. For example, they put the company’s land or building as collateral. It should be noted that reputable companies do not need to do this.

6. The owners of these bonds do not have any voting rights or decision-making power in the affairs of the company. Except in special cases such as offering and selling other bonds or merging the company with other companies. It should be noted that if the companies do not fulfill the obligations stated in the contract, this voting right is given to the bondholders for many of the company’s activities.

7. The amount and period of interest payment in bonds depends on the conditions mentioned in the contract, and the longer the bond is, the higher the amount of interest paid.

8. Bonds are usually sold in two forms: public offering and private offering. In a private offering, the only buyers of the bonds and the company are the parties to the contract; But in the public offering where bonds are sold to many buyers, usually one person is present as a trustee and is responsible for monitoring the company’s obligations.

Types of fixed income bonds

1. Government bonds

Governments are among the institutions that issue bonds in order to finance. In fact, governments need financial resources to implement projects and pay salaries and bills on time, and if they are not available, one of the ways to provide these resources is to issue bonds. Investing in this type of bond is considered one of the safest investments for countries like America that have economic stability. But investing in developing countries has a high risk.

2. Municipal bonds

Municipalities earn a lot of income through tax collection. Sometimes this income is not enough to implement construction projects such as building a school, hospital, bridge, street, etc. In such a situation, the municipality issues bonds to secure its financial resources.

3. Corporate bonds

Sometimes companies issue bonds in order to develop their business and finance their projects. Compared to other bonds, these bonds have more variety and profit, but they also have disadvantages, including the high risk of purchase and the tax that is assigned to the income.

What is the maturity of the bond?

Bonds are divided into the following three categories according to the maturity date:

Short-term bonds:  Usually, the maturity of these bonds is between one and five years.

Medium-term bonds:  usually the maturity of these bonds is between five and ten years.

Long-term bonds:  Usually, the maturity of these bonds is more than ten years.

How to buy bonds?

Bonds are a type of loan with interest. Since these bonds have a fixed interest, the profit and loss of the company has nothing to do with the owners of the bonds, and the periodic interest and principal must be paid at the due date. On the other hand, the company has no duty to inform bond buyers and can use the proceeds from the sale of bonds in illegal sectors. For this reason, these bonds are not Islamic in nature and are not published or traded in Iran. Partnership bonds are among fixed income bonds that can be used as an Islamic alternative to bonds.


It is possible to obtain bonds in three ways:

  • To buy shares, you must have a stock exchange code and register your request through the trading system. To see the bonds offered on the stock exchange and over the counter, you can visit the Rahvard website.
  • You can also buy shares outside the stock exchange by visiting the branches of the operating banks.
  • If you are not interested in any of the above methods, you can buy these bonds by buying units of fixed income investment funds.

What is the attraction of bonds compared to other securities?

As we mentioned, bonds have a fixed interest that must be paid periodically until maturity. After the maturity date, the principal amount will be returned to the owners of the bonds. Even if the company goes bankrupt for any reason, the owners of these bonds have priority over the company’s shareholders in receiving the principal and interest. Therefore, the risk of investing in these bonds is much lower than other bonds. This factor has made these bonds more attractive than other securities; Although they may have lower returns than other securities such as stocks.

Should we buy bonds or stocks?

Buying bonds, like buying stocks, is considered a type of investment. But these two investments have differences. The owners of the bonds do not own the company issuing the bonds; While the company’s shareholders own part of it and share in the company’s profits and losses. Therefore, companies prefer to finance their needs by issuing bonds instead of selling shares, because the owners of the bonds do not have a right in the company’s decisions. Note that if the company is in a favorable profit situation, the yield of stocks is higher than that of bonds. But due to the sensitivity of the stock price to various political and economic factors, there is a possibility of a sharp decrease in the stock price and, as a result, a decrease in the shareholders’ capital. Even in case of liquidation of the company, the bondholders have priority over the shareholders to receive their money.

The relationship between interest rates and bonds

The price of bonds has an inverse relationship with the government interest rate, that is, with an increase in the interest rate, the price of bonds decreases, and with a decrease in the interest rate, the price of bonds increases.

Advantages of bonds from the point of view of bond issuers

1. If the bonds issued by the companies can be converted into shares, the investors’ desire to buy these bonds increases and the company can sell more of its shares at a price higher than the market price.

2. If the bonds issued by the companies are non-convertible into shares, the issuing company will have a lower conversion rate.

3. Bonds are among the least expensive sources of finance.

4. If the company’s rate of return is higher than the fixed interest rate of the bonds, it will be in favor of the issuing company.

Benefits of bonds from the perspective of investors

1. If the issued bonds can be converted into shares, by converting these bonds into shares and increasing the share price, investors will gain significant profits.

2. Due to the dual nature of bonds, if the company’s performance is poor, bondholders can avoid converting bonds into shares and bear less risk.

Disadvantages of bonds from the point of view of bond issuers

1. If the number of shares of the company increases significantly, issuing bonds that can be converted into shares is not cost-effective for the company, and it is better to issue its shares in the normal way.

2. If the rate of return of the company is lower than the interest rate of the bonds, the issuance of these bonds will not benefit the company.

3. Issuance of bonds by companies increases the debt ratio.

Disadvantages of bonds from the perspective of investors

1. Bonds that can be converted into shares have a lower yield than non-convertible bonds.

2. Obligations given by the issuer to the owners of convertible bonds have lower priority than other debt obligations.


What are partnership bonds?

Partnership bonds are types of debt bonds that are issued to finance public and private companies and institutions and to implement production, service, and construction projects. These bonds are guaranteed to pay interest. In fact, the holder of these bonds shares in the profits of the projects implemented by the issuer, relative to the price of the purchased bonds and the duration of participation.

What is the purpose of publishing partnership bonds?

The purpose of publishing these bonds by the government or other private and public institutions is to attract capital from the people and provide the necessary financial resources for the implementation of construction projects. On the other hand, the investor can also benefit from the guaranteed profits of these bonds by buying bonds and participating in these projects.

Features of partnership papers

1. Partnerships can be bought and sold in the secondary market.

2. The yield of these bonds is risk-free for investors.

3. By purchasing these bonds, the investor will become the owner without voting rights.

4. Investing in these bonds is tax exempt.

5. These bonds have guaranteed interest. At the time of issuing the bonds, the accrued interest is defined in each bond, and in case of achieving a higher yield from the implementation of the projects, the difference will be credited to the investor’s account.

6. The interest payment of these bonds is in the form of one-month, three-month and one-year periods.

7. The interest rate of these bonds is usually 3-5% higher than the interest rate of one-year long-term bank deposits and about 18-25%.

Benefits of partnership bonds

The most important benefits of partnership bonds are:

1. Guarantee of profit and principal of capital

These bonds have fixed and guaranteed interest; Therefore, investing in these bonds is risk-free. These bonds are issued under the supervision of the central bank and have valid guarantees. Therefore, investors will receive the interest and principal of their capital without worry and at the designated times.

2. tax exemption

The profit of partnership bonds is not taxed. Therefore, those who are looking for ways to invest without paying taxes can invest in these bonds.

3. Sell ​​before maturity

If someone wants to sell these bonds before the maturity date, there is no obstacle to sell them before the maturity time; Because these bonds can be traded in the secondary market. Also, the person’s investment period will be calculated and paid to him.

4. Interest payment periodically

The interest payment of these bonds usually takes place in three-month periods. Investors can receive their interest after the interest payment period has arrived by visiting the operating banks and presenting the original of the bonds.

5. No need for training and skill acquisition

Investing in partnership bonds, unlike other securities such as stocks and derivatives, does not require training and acquiring skills for a long time. The interest of these bonds is similar to the interest of bank deposits and the investor does not need to understand other complex concepts and information. Therefore, by spending the least amount of time, you can buy these bonds.

Disadvantages of partnership bonds

1. Low efficiency

Normally, the lower the investment risk, the lower the profit from the investment. This article is completely true about partnership papers. Due to the lower risk of partnership bonds compared to other securities (such as shares), investing in these bonds has a lower profit than other securities. Therefore, for those who want to earn big profits in a short period of time, investing in bonds will not be attractive.

2. Long maturities

As we said, partnership bonds are used to finance construction projects. Since the maturity time of these bonds is dependent on the completion time of the projects, the maturity of partnership bonds will usually be long-term and between 2 and 5 years.

Why should we buy shares?

On average, the return on bonds is lower than the gold, currency and stock markets. So, if you are looking for high profits, these bonds are not the right place to invest. But the most important factor that has attracted investors to buy these bonds is the provision of a valid guarantee for the payment of interest and principal of these bonds by the bond issuers. Since the guarantee is provided by the banks and government financial institutions, the investors are assured of receiving their profits at the specified times. This factor makes investors want to buy bonds.

Which companies are allowed to issue bonds?

Partnership bonds are issued in order to finance construction projects by public and private institutions, which include the government, municipalities, non-profit institutions and companies affiliated with the said institutions, private and public joint-stock companies, and cooperative and production companies.

According to the laws, the bond issuance process is such that the plans subject to this law, which are presented by the aforementioned institutions, must be evaluated by the central bank. If these plans are approved from an economic, technical and financial point of view, the applicant entity can obtain a bond issuance license by providing a valid guarantee to the operating bank.

If the private joint stock companies related to the mentioned institutions become public stocks, the owners of these bonds are given priority to buy the company’s shares. If any of the aforementioned institutions do not fulfill their obligations such as paying interest and principal of bonds at the due date, the acting bank is obliged to fulfill these obligations from the place of guarantee.

Types of partnership papers

In general, partnership bonds are divided into the following three categories:

1. Partnership papers “with name” and “without name”

Participation bonds “with name” are bonds that the name of the buyer is written on the participation sheet and in case of theft or loss of the bonds, no one except the owner of the bonds can trade them. But the bonds that are published in “anonymous” form are in bearer currency and whoever has them is considered the owner of the bonds and can trade them. For this reason, they usually keep “anonymous” bonds in safe deposit boxes.

2. Stock exchange bonds

There are bonds that are traded under the supervision of stock exchange and over-the-counter. These papers are divided into the following three categories:

At a discount:  There are bonds that are sold at a price lower than the nominal price. The profit of these bonds for the buyer is obtained from the difference between the purchase price and the nominal price on the maturity date. Investing in these bonds is short-term.

Exchangeable with shares:  these types of bonds are issued by public companies in the stock exchange. After maturity, these bonds can be exchanged for company shares; It means that the buyer can exchange it with company shares instead of receiving the bond amount.

Convertible into shares:  These are bonds that are issued by public companies in the stock market and will be converted into company shares after the maturity date.

3. Non-exchange bonds

Non-exchange bonds are published in the open market under the supervision of the Central Bank. To buy and sell these bonds, you must go to the operating banks. These papers exist in the following forms:

  • Central Bank Partnership Bonds:  These are bonds that are issued by the Central Bank to realize the economic goals of the government. Other operating banks can also redeem these bonds.
  • Partnership bonds of public and private institutions:  These bonds are issued by public institutions and private companies in order to finance macro-economic projects to launch their projects by attracting capital.

What information is included on the partnership papers?

1. Number of shares and nominal amount

2. Interest rate on account

3. Interest payment periods

4. Maturity period of bonds (usually 2 to 5 years)

5. Details of the buyer (in the partnership papers “with name”)

How to buy shares?

In general, bonds can be traded in two ways. If the bonds are issued by the government, you can buy and sell the bonds by visiting the branches of the designated agent banks. You should also visit these banks to receive periodic interest and principal. Note that bonds that do not have the word “repurchase” on them cannot be sold. If the shares have been published under the supervision of the stock exchange organization, you must receive a stock exchange code and register your request to buy the shares by visiting the brokerage or through the online trading system. Generally, the nominal price of partnership bonds is equivalent to 1000,000 Rials or 100,000 Tomans, and the minimum capital required to buy these bonds is one million Tomans. To see the bonds published in the stock market and over the counter, you can visit the website of Rehvard and see the symbols of the published bonds along with other information from the markets menu and the bonds section.

How much is the interest on bonds?

Considering that the profit of partnership bonds depends on the construction project that the issuing company is implementing, the profit of the types of partnership bonds is different. In fact, the publishing company estimates the amount of capital required to implement the project and the profit from its implementation after the completion of the project, and based on this, it determines the profit of the bonds. Usually, the one-year interest of partnership bonds is around 18 to 22 percent. Of course, this value is not always constant. On average, the interest of these bonds is determined to be 3-5% higher than the interest of long-term bank deposits to encourage investors to buy these bonds.

Labels: Order to build a Forex robot , Build a stock trading robot , Build a trading robot , Trader robot design , Free Forex Robot , Forex robot programming , Forex Expert Making Tutorial , Build a trading robot with Python , Download Forex Trading Robot , Buy Forex Trader Robot , Automated Forex Robot , Free stock trading robot ,  Learn how to build a Forex trading robot , Alpari trading robot , Forex robot for Android ,  MetaTrader robot design , MetaTrader robot programming , Forex robot design , Forex robot programming , Automated trading

Nominal interest rate, accrued interest and fixed interest

If the bonds are bought in the first days of offering, the interest rate received is equivalent to the nominal interest. The guaranteed interest of partnership bonds is paid on account in certain periods of time.

If after the completion of the project, the resulting profit is more than the accrued profit, the difference must be paid to the investors under the title of fixed profit, and if the opposite happens, the bond guarantor is responsible for compensation.

How much is the fee and tax of partnership transactions?

The tax on the profit from the bonds is equal to 5%. The fee for buying shares is equal to 0.000726 and the fee for selling it is 0.000774. In fact, the total trading fee for shares is 0.0015.

What is the difference between bonds and bonds?

The most important differences between bonds and bonds are:

1. Partnership bonds are issued to finance construction projects, while bond issuers have no restrictions on the use of financial resources. In fact, the bond issuer is required to explain its performance to bond buyers, while the bond issuer is not required to provide these explanations and can use these financial resources in any field.

2. The owners of participation bonds will be paid interest under the title of accrual, and if the project is completed and the profit is more than this amount, the difference will be paid to the bond owners as a definite profit. However, the bonds have a fixed interest rate and are therefore not Islamic in nature.

3. Bond interest is determined by the issuing company; While the profit of partnership bonds is guaranteed by the government. Therefore, bonds have a higher risk than partnership bonds; Because it depends on the interest rate.

4. Bonds are issued only at nominal price. But bonds can also be issued in installments.



In this article, we introduced partnership bonds and bonds and explained their advantages and disadvantages. Bonds are types of debt securities that are issued to finance governments and other public and private institutions. Because these bonds have a specific interest rate, they are not Islamic in nature and are not issued in Iran. But partnership papers can be used as its Islamic alternative. whose profit is guaranteed by the government and will be paid at the end of the project. Investing in partnership bonds is a risk-free investment that is more profitable than bank deposits.

Comments (0)

  • Comments that are not related to the article will not be approved.
  • Avoid duplicate comments.
  • The rating of robots is only for the buyer of the product.