Baghdad – IA
Today, Monday, Rafidain Bank announced the offering of the third issue of (Emaar bonds).
The bank said in a statement received by the (INA): “In a step to enhance the investment aspect and in line with the directives of the Ministry of Finance, we announce the offering of the third issuance (Emaar bonds) for sale to citizens until January 30, 2024, and with the same previous mechanism for the first and second issues.” .
He added, “The bonds will be available in two categories:
– A bond of 500,000 dinars with an annual interest rate of 6 percent, paid every six months for a period of two years.
– A 1,000,000 dinar bond with an annual interest rate of 8 percent, paid every six months for a period of four years.
The bank confirmed that “the person wishing to purchase bonds must submit a direct request to the bank, bringing with him the original identification documents,” explaining that “the buyer will be given a receipt by the bank in exchange for the amount he paid to purchase the bond. The buyer will keep this receipt until the bond is prepared and the buyer will By bringing the aforementioned receipt to the bank to receive the bond after preparing it.”
He stated that “bond trading takes place in the stock market, buying and selling. In addition, the bond’s prescription period is 10 years after maturity, and then it is transferred to the Ministry of Finance,” pointing out that “purchasing and trading of the bonds offered (Emaar bonds) is exempt from taxes, according to what was stated.” Federal Budget Law No. 13 of 2023.”