A new batch of “Injaz/Enjaz” bonds, or “achievement” bonds, will be issued by Iraq’s Ministry of Finance, it has been announced.
The bonds will be offered in two denominations, according to a statement posted on social media but not yet available on the Ministry of Central Bank of Iraq (CBI) websites:
a bond of 500,000 Iraqi dinars with a two-year interest rate of 6.5 percent paid every six months;
a bond for four years worth one million Iraqi dinars with six payments made every six months and an annual interest rate of 8.5%.
The entire declaration from the Ministry of Finance:
The release of the third edition of the government “achievement” bonds for public accounting with a total value of up to 1.3 trillion Iraqi dinars is announced by the Ministry of Finance, represented by the Public Debt Office, in collaboration with the Iraqi Central Bank.
RELEASE DETAILS:
Kinds of bonds: Iraqi Dinar-based government bonds.
Proposed Groupings:
An obligation of 500,000 Iraqi dinars with a yearly interest of 6.5%, payable like clockwork for quite some time.
a bond for four years worth one million Iraqi dinars with six payments made every six months and an annual interest rate of 8.5%.
Period of writing: from October 14, 2024 to November 13, 2013 Attaching the necessary identification documents, purchase orders are sent to the branches of banks authorized by the Iraqi Central Bank. On the day of the purchase, the money is transferred through the RTGS electronic payment system, and the buyer receives a temporary receipt until the bank receives the deposit.
Participation Call: Companies, investors, and citizens are all invited to participate in this issue of government bonds by the Ministry.
Trading: The proposed securities can be exchanged the Iraq protections market.
Lawful system: This version conforms to Federal General Budget Act No. 13 for the years 2023, 2024 and 2025.
The Ministry of Finance signs the bonds after they are sealed with a special stamp.
The advantages of writing
Fixed Profit: When the bond’s due date approaches, the government promises to pay both the bond’s value and the annual interest.
Guaranteed Investment: Government bonds are among the most secure speculations given the assurance of the public authority.
Supporting the public economy: Composing reserves add to funding advancement undertakings and supporting monetary steadiness in the country.
