The third issue of reconstruction bonds is scheduled to be issued on Monday, according to Rafidain Bank, and it will be divided into two categories: bonds worth 500,000 dinars and bonds worth 500,000 dinars.
A copy of the bank’s statement was obtained by the 964 Network.
in an effort to strengthen the investment component and in compliance with Ministry of Finance guidelines.
The third issue of reconstruction bonds, which Rafidain Bank is offering for sale to the general public until January 30, 2024, is announced. use the same technique as the first and second problems.
There will be two classifications for it:
- A two-year bond worth 500,000 dinars with a 6% yearly interest rate that is paid every six months.
- A bond worth one million dinars that will pay interest every six months for four years at an annual rate of eight percent.
The bank verified that the individual seeking to acquire the bonds needed to send a direct request to the bank together with the original identity documents, stating that the buyer would receive a receipt from the bank for the money he spent to buy the bond. When the bond is ready, the buyer will bring the aforementioned receipt to the bank to pick it up. The buyer will have this receipt until the bond is ready.
He explained that bonds are traded on the stock market through buying and selling. He also mentioned that the bond’s statute of limitations is 10 years after it matures, after which it is transferred to the Ministry of Finance. He also mentioned that the Federal Budget Law No. 13 of 2023 exempts the buying and selling of the offered bonds (Emaar bonds) from taxes.
