Baghdad – IA
Today, Thursday, the Ministry of Finance announced the launch of a new issue of government bonds for public subscription.
A statement from the ministry, received by the (INA), stated that “the Public Debt Department in the Ministry of Finance, in cooperation with the Central Bank of Iraq, announced the offering of a new issue of government bonds for public subscription under the name Enjaz Bonds,” indicating that “type of bonds: government bonds.” Denominated in Iraqi dinar.
The statement added, “The categories proposed are:
– A bond of denomination (500,000) dinars, with a maturity of two years, with an annual interest of 6.5%, paid every six months.
– A bond denomination of (1) million dinars, for a period of 4 years, with an annual interest of 8.5%, paid every six months.
He continued, “Subscription date: The period from April 15, 2024 to May 15, 2024,” explaining that “Subscription method: Purchase applications are submitted to one of the bank branches approved by the Central Bank of Iraq, accompanied by the original identification documents, and then the bank sends the application with an amount Purchase to the Central Bank via the RTGS electronic payment system on the same day of purchase. In return, the buyer will receive a receipt for the purchase amount he paid until the bond is prepared, and after a period not exceeding a week, the buyer brings the receipt to the same bank to receive the bond.
According to the statement, the ministry called on “all citizens, investors and companies to participate in subscribing to this issuance of government bonds,” noting that “the bonds offered are tradable on the Iraqi Stock Exchange.”
She pointed out that “the advantages of subscribing to government bonds are:
Guaranteed return: The government is committed to paying the annual interest and the value of the bond when it matures.
Safe investment: Government bonds are considered one of the safest investments, as investors enjoy the government guarantee.
Contribution to the development of the national economy: The subscription funds contribute to financing economic development projects and achieving financial stability in the country.