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Al-Rafidain launches reconstruction bonds for citizens: with an interest rate of up to 8%
Economy |Today, 20:54 |
Baghdad Today - Baghdad
Rafidain Bank announced, this evening, Thursday (October 19, 2023), that it will begin issuing reconstruction bonds to citizens with an interest rate of up to 8 percent.
The bank's media office said in a statement received by "Baghdad Today", that
"based on the instructions of the Ministry of Finance and the Central Bank of Iraq,
Rafidain Bank announces the commencement of issuing (Emaar) bonds and making them available to citizens, starting from 10/10/2023 until 11/9/2023.".
The statement explained that the bonds are in two categories:
“The first is a bond of 500 thousand dinars, with an annual interest of 6 percent, paid every six months for a period of two years, and the
other category is a bond of one million dinars, with an annual interest of 8 percent, paid every six months for a period of four years.” The bank confirmed that
“the person wishing to purchase bonds must submit a direct request to the bank, bringing with him the original identification documents.
The buyer is also given a receipt by the bank in exchange for the amount he paid to purchase the bond, where he keeps it until the bond is prepared, and
the buyer brings the aforementioned receipt to the bank.”
The bank will receive the bond after it is prepared.” He explained,
"Bonds are traded in the stock market, buying and selling. In addition,
the bond's statute of limitations is 10 years after maturity, and
then it is transferred to the Ministry of Finance." The bank noted,
“Purchasing and trading the offered bonds (construction bonds) is exempt from taxes, according to what is stated in Federal Budget Law No. 13 of 2023.”
https://baghdadtoday.news/233625-الرافدين-يطلق-سندات-اعمار-للمواطنين-بفائدة-تصل-لـ8.html
Economy |Today, 20:54 |
Baghdad Today - Baghdad
Rafidain Bank announced, this evening, Thursday (October 19, 2023), that it will begin issuing reconstruction bonds to citizens with an interest rate of up to 8 percent.
The bank's media office said in a statement received by "Baghdad Today", that
"based on the instructions of the Ministry of Finance and the Central Bank of Iraq,
Rafidain Bank announces the commencement of issuing (Emaar) bonds and making them available to citizens, starting from 10/10/2023 until 11/9/2023.".
The statement explained that the bonds are in two categories:
“The first is a bond of 500 thousand dinars, with an annual interest of 6 percent, paid every six months for a period of two years, and the
other category is a bond of one million dinars, with an annual interest of 8 percent, paid every six months for a period of four years.” The bank confirmed that
“the person wishing to purchase bonds must submit a direct request to the bank, bringing with him the original identification documents.
The buyer is also given a receipt by the bank in exchange for the amount he paid to purchase the bond, where he keeps it until the bond is prepared, and
the buyer brings the aforementioned receipt to the bank.”
The bank will receive the bond after it is prepared.” He explained,
"Bonds are traded in the stock market, buying and selling. In addition,
the bond's statute of limitations is 10 years after maturity, and
then it is transferred to the Ministry of Finance." The bank noted,
“Purchasing and trading the offered bonds (construction bonds) is exempt from taxes, according to what is stated in Federal Budget Law No. 13 of 2023.”
https://baghdadtoday.news/233625-الرافدين-يطلق-سندات-اعمار-للمواطنين-بفائدة-تصل-لـ8.html
