Al-Rasheed directs to sell “Binaa” bonds to citizens… and interest every 6 months

Al-Rasheed directs to sell “Binaa” bonds to citizens… and interest every 6 months

2021-11-03 08:42

Al-Rasheed directs to sell Binaa bonds to citizens... and interest every 6 monthsShafaq News/ Al-Rasheed Bank announced on Wednesday, directing its branches to directly sell “construction” bonds to citizens wishing to buy, indicating that the interest will be paid every six months.

In a statement received by Shafak News Agency, the bank’s media office said, “The bank has set its instructions regarding the amount, interest and purchase mechanism, as it included specifying a bond of 500 thousand dinars with interest (6%) to be paid to the customer every six months for a period of two years, and a bond of one million dinars with annual interest (7%). It is paid every six months for four years.

He added, “The person, whether (naturally or morally) wishing to purchase, has the right to submit a direct request to the bank, accompanied by the original tariff documents, in return for the bank giving the customer a receipt for the amount he paid to purchase the bonds.”

On September 26, the Central Bank of Iraq offered the first issuance of Binaa bonds of two categories (500,000) dinars (five hundred thousand dinars) with annual interest (6%) for two years, and (1,000,000) dinars (one million dinars) with annual interest (7 %) for four years.

shafaq.com