Iraqi National Bonds to be Issued on 15th March 2016: CBI

Iraqi National Bonds to be Issued on 15th March 2016: CBI

Iraqi Dinar 123 News:– The Iraqi Central Bank announced that CBI has planned to launch Iraqi national bonds and these bonds will be available after 15th March 2016. CBI further explained that these national bonds are payable by the Iraqi Finance Ministry and bonds will be issued for two years with the interest rate of 6 percent. CBI issued a press statement and declared that Iraqi Central Bank has planned to launch National bonds for a specific period of time on the behalf of Iraqi Ministry of Finance. These National Bonds will be issued from 15th March 2016 to 14th April 2016. National Bonds will be presented in five categories including 100,000, 250.000, 500.000, 1000.000 and 5000.000 national bonds. The estimated amount of these bonds is estimated at more than 1.5 trillion Iraqi dinars.

Iraqi Central Bank further added that Iraqi National Bonds will be sold at handsome discount with a reasonable interest rate of 6 percent per year. These Bonds are payable by the Iraqi Ministry of Finance until 14th March 2018. CBI further explained that National Bonds will be available to all Iraqi citizens and Iraqi banks directly by submitting purchase orders to Iraqi Central Bank along with a color copy of identity card. The amount received by these bonds will be utilized as the alternate of borrowing foreign loans and its amount will be used to overcome the financial problems at Iraqi financial institutions. These bonds would be used in the Iraqi Stock Exchange in the process of buying and selling. These bonds will be easily available to all Iraqi citizens and all Iraqi governmental and private banks.

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