National Bonds worth 802 Billion IQD Sold by CBI

The Central Bank of Iraq has announced that the sales of National Bonds have been reached at more than 802 billion Iraqi dinars and this amount was recorded in the beginning of April 2017. The CBI said in a statement that total sales amount of National Bonds have been recorded at more than 802 billion and 150 million Iraqi dinars. The National Bonds launched on the behalf of Iraqi Finance Ministry for limited terms at the start of April 2017. The statement further indicated that the remaining sales amount has been estimated at 197 billion and 850 million Iraqi dinars, and the end sales period will be until 2nd May 2017 for the National Bonds. The statement also pointed out that National Bonds (Asdarih) introduced in 5 different categories including 100,000, 250,000, 500,000, 1,000,000 and 5,000,000 Iraqi dinars in trillions of Iraqi dinars with an interest rate of 8%.

National Bonds worth 802 Billion IQD Sold by CBIThe National Bonds pay annual coupons for 2 years time period and these bonds are payable by the Iraqi Finance Ministry for the 2nd April 2019. The Secretary General of the Iraqi Council of Ministers said in a statement about the Iraqi government’s objectives to reform regulations and laws regarding investment to enhance state resources. It would enable local and foreign investors in getting interest in the investment projects especially in the general and housing related projects. It is important that it will reduce the cost for the Iraqi citizens enabling them to own the property and participate to solve the housing crisis in Iraq. An important meeting held in Baghdad in presence of Economic Affairs advisor to the Iraqi Prime Minister Kazem Al-Hassani and a number of representatives from the authorities, adviser of the State Shura and representatives from Iraqi Ministry of Agriculture, Construction & Housing and Finance, and a number of Arab businessmen participated in this meeting.

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