Finance sets the date for issuing the second issuance of reconstruction bonds and reveals its details

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Finance sets the date for issuing the second issuance of reconstruction bonds and reveals its details

On Sunday, the Ministry of Finance announced the second round of reconstruction bonds will be offered on Tuesday and clarified the details.

The Ministry has announced that they will be launching the second issuance of bonds on Tuesday, October 28th as part of the government’s program to achieve financial stability and enhance economic and investment activities. This follows the successful first issuance of Emaar bonds. The bonds will be available for citizens for a period of 30 days until 2023.

She mentioned the following details about the bonds offered: The second issuance of bonds with a total value of 1.5 trillion Iraqi dinars is now available on the Iraqi Stock Exchange. The bonds are available in two denominations. The first denomination is priced at 500,000 dinars and has an annual interest rate of 6% for two years. The second denomination is priced at 1,000,000 dinars and has an annual interest rate of 8% for four years.

According to the General Federal Budget Law No. 13 of 2023, the bonds offered are exempt from taxes for purchase and trade.

According to her, if you want to purchase a bond, you can directly approach one of the authorized banks. You should bring your original identification documents along with you when applying for the bond. The bank will provide you with a receipt for the amount you paid to buy the bond. You should keep hold of the receipt until the bond is ready. After preparing the bond, you can go to the bank again and present the receipt to receive the bond.