Baghdad-INA
Today, Thursday, the Ministry of Finance announced the offering of the third issue of “Enjaz” government bonds for public subscription.
A statement from the ministry, received by the (INA), stated that “The Ministry of Finance, represented by the Public Debt Department and in cooperation with the Central Bank of Iraq, announces the offering of the third issue of government ‘Injaz’ bonds for public subscription with a total value of up to 1.3 trillion Iraqi dinars.”
The statement added, “Details of the issuance included:
● Bond type: Government bonds denominated in Iraqi dinars.
● Categories offered:
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 rate of 8.5%, paid every six months for a period of four years.
● Subscription period: from 10/14/2024 until 11/13/2024
● Subscription method: Purchase applications are submitted to bank branches approved by the Central Bank of Iraq, accompanied by the required identification documents. The amount is transferred via the electronic payments system RTGS On the same day of purchase, the buyer receives a temporary receipt until the bond is received from the bank.
● Invitation to participate: The Ministry invites citizens, investors and companies to participate in this issuance of government bonds.
● Trading: The bonds offered are tradable on the Iraq Stock Exchange.
● Legal framework: This issuance is based on Federal Budget Law No. 13 for the years 2023, 2024, and 2025.
● The bonds issued shall be stamped with a special seal and signed by the Ministry of Finance.”
He continued, “The benefits of the subscription included:
-Fixed return: The government is committed to paying the annual interest and the value of the bond upon maturity.
-Safe investment: Government bonds are among the safest investments due to the government guarantee.
-Strengthening the national economy: The subscription funds contribute to financing development projects and supporting financial stability in the country.