Baghdad – I.A.
The Ministry of Finance announced today, Thursday, in cooperation with the Central Bank of Iraq, the launch of a new issue of government achievement bonds (second issue) for public subscription.
A statement by the ministry, received by the (INA), stated that “the Public Debt Department in the ministry, in cooperation with the Central Bank of Iraq, offered a new issue of government achievement bonds (second issue) for public subscription, with a value of (1.5) one trillion and five hundred billion Iraqi dinars.”
He called on “all citizens, investors and companies to participate in subscribing to this issue of government bonds.”
He pointed out that “the offered bonds are tradable on the Iraq Stock Exchange.”
The statement added, “The new issuance of bonds came based on Federal General Budget Law No. 13 for the fiscal years 2023, 2024 and 2025.”
● Advantages of subscribing to government bonds:
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’s guarantee.
Contribution to the development of the national economy: Subscription funds contribute to financing economic development projects and achieving financial stability in the country.
● Release details:
Bond type: Government bonds denominated in Iraqi dinars.
● Categories offered:
– A bond of denomination (500,000) five hundred thousand dinars, with an annual interest of 6.5% paid every six months for two years.
– A bond of the denomination of (1,000,000) one million dinars, with an annual interest of 8.5% paid every six months for a period of four years.
● Subscription date: The sale of bonds will begin at par value for the period from July 22 to August 21, 2024.
● Subscription method: Purchase requests are submitted to one of the branches of banks authorized by the Central Bank of Iraq, attached with the original identification documents, after which the bank sends the request with the purchase amount to the Central Bank via the RTGS electronic payment system on the same day of purchase. In return, the buyer will receive the amount he paid for the purchase until the bond is prepared, and after printing is completed, the buyer brings the receipt to the same bank to receive the bond.
● The bonds are stamped and signed by the Ministry of Finance…