Iraqi Finance Ministry issues government bonds worth up to 1.3 trillion dinars

The third round of government “Injaz” bonds for public subscription with a total value of 1.3 trillion Iraqi dinars was announced on Sunday by the Ministry of Finance, represented by the Public Debt Department, in collaboration with the Central Bank of Iraq.

The following are the specifics of the issue that the ministry provided in a statement today: Kinds of bonds: Iraqi dinar-denominated government bonds are offered in the following categories:

a bond of 500,000 Iraqi dinars with a two-year interest rate of 6.5 percent paid every six months.

a bond of one million Iraqi dinars with a four-year interest rate of 8.5% paid every six months.

She specified the duration of the subscription: from October 14-2024 to November 13-2024.

In its statement, the ministry stated that the subscription method: Buy demands are submitted to parts of banks approved by the National Bank of Iraq, joined by the expected ID archives. The sum is moved by means of the RTGS electronic installment framework around the same time of procurement, and the purchaser gets a transitory receipt until the bond is gotten from the bank.

Noting that the offered bonds are tradable on the Iraq Stock Exchange, the Ministry urged citizens, investors, and businesses to participate in this issue of government bonds.

She emphasized that the issue in question is brought about by Federal General Budget Law No. 13 in 2023, 2024, and 2025, respectively.

She noticed that the gave bonds are stepped with an exceptional stamp and endorsed by the Service of Money.

As to membership benefits, the Service of Money said that it is a decent return, and the public authority is focused on paying the yearly premium and the worth of the security upon development.

She said that because of the government’s guarantee, government bonds are one of the safest investments.

The statement from the ministry also said that the subscription money helps finance development projects and keep the country’s finances stable.