Finance announces an extension of the period of availability of reconstruction bonds to citizens and clarifies the mechanism for purchasing them

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Finance announces an extension of the period of availability of reconstruction bonds to citizens and clarifies the mechanism for purchasing them

Today, Thursday, the Ministry of Finance announced an extension of the period for making construction bonds available to citizens, while clarifying the mechanism for purchasing them.

“The Ministry of Finance, in its contribution to providing investment opportunities for citizens and achieving economic stability, announces the continued availability of Emaar bonds to citizens, until Thursday, November 9, 2023,” according to a statement from the Ministry that the “Information” Agency received.

“The details of the bonds offered are: “, the announcement said.

-There are two types of the initial issue of bonds valued at 1.5 trillion Iraqi dinars that may be traded on the Iraq Stock Exchange:

-The first is available for (500,000) five hundred thousand dinars, with a two-year term and a 6% annual interest rate.

The second price is one million dinars, with a four-year term and an annual interest rate of 8%.

According to General Federal Budget Law No. 13 of 2023, there are no taxes associated with the purchase or trading of the issued bonds.

He went on, “The application process for buying the bond is as follows:

-Those who want to buy bonds can apply directly to one of the banks that have been approved, providing their original identity credentials.

-The bank will provide the buyer with a receipt for the amount he paid to buy the bond.

The buyer retains the receipt until the bond is ready, at which point they take the previously stated receipt to the bank to pick up the bond.