CBI Issues Dollar Bond

On Monday, the Iraqi Central Bank has announced the future dispatch delivery in the U.S dollars bearer bonds is up to the Ministry of Finance. It is also important that the estimated amount value of these bonds would be up to 2 billion U.S dollars. The Iraqi Central Bank issued a press statement that on the behalf of the Finance Ministry, we have withdrawn the term of delivery from the U.S dollar bearer bills from 2nd August to 31st August 2015.

Point to be noted that these bonds will be issued in four different categories in worth including 2500, 10,000, 50,000 and 100,000 U.S dollars and it is also estimated that their cost would be more than 2 billion U.S dollars. The Central Bank further explained in its statement that these bearer bonds will be sold in Iraqi dinar currency at the price of 1095 Iraqi dinars per U.S dollar. This amount is payable at the end of next year 31st December 2016 by the Finance Ministry. It is also said that these bonds will pay in U.S dollars for full growth. The Central Bank of Iraq also added that these bonds will be used to pay back loans or to execute major projects that need an extra amount of guarantees.

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