Iraqi Finance Ministry issues government bonds worth up to 1.3 trillion dinars
Iraqi Finance Ministry issues government bonds worth up to 1.3 trillion dinars
2024-10-13
Shafaq News: The Ministry of Finance, represented by the Public Debt Department, in cooperation with the Central Bank of Iraq, announced on Sunday the launch of the third issue of government “Injaz” bonds for public subscription with a total value of 1.3 trillion Iraqi dinars.
The ministry explained in a statement today, the details of the issue, as follows: Type of bonds: Government bonds denominated in Iraqi dinars, offered categories:
A bond worth 500,000 Iraqi dinars with an annual interest of 6.5%, paid every six months for two years.
A bond worth 1,000,000 Iraqi dinars with an annual interest of 8.5%, paid every six months for four years.
She indicated the subscription period: from 10/14/2024 until 11/13/2024.
Regarding the subscription method, the ministry stated in its statement: Purchase requests are submitted to branches of banks authorized by the Central Bank of Iraq, accompanied by the required identification documents. The amount is transferred via the RTGS electronic payment system on the same day of purchase, and the buyer receives a temporary receipt until the bond is received from the bank.
The Ministry called on citizens, investors and companies to participate in this issue of government bonds, noting that the offered bonds are tradable on the Iraq Stock Exchange.
She stressed that this issue comes based on Federal General Budget Law No. 13 for the years 2023, 2024, and 2025.
She noted that the issued bonds are stamped with a special stamp and signed by the Ministry of Finance.
Regarding the subscription benefits, the Ministry of Finance said that it is a fixed return, and the government is committed to paying the annual interest and the value of the bond upon maturity.
She pointed out that government bonds are among the safest investments due to the government’s guarantee.
The ministry’s statement added that the subscription funds contribute to financing development projects and supporting financial stability in the country.
shafaq.com
