Central presents new monetary categories

BAGHDAD / obelisk: Central Bank of Iraq, announced Wednesday his intention to launch a national bonds in five categories of the middle of this month, adding that her annual interest rate of 6%, between that can be used as collateral for loans to financial facilities.
The bank said in a statement, said he 'will launch national bonds (nominal) on behalf of the Ministry of Finance in nominal terms and as of the middle of this month, March 15 and ends on 15 April next year', adding that 'Asdarih will offer five categories include (100,000 and 250,000, and 500,000 and 1,000,000 and 5,000,000). '
The bank added that 'the value of these funds to be raised will reach 1.5 trillion dinars', noting that 'sales will be at a discount and will be 6% interest per annum and is payable by the Ministry of Finance in March, 142 018'.
The bank added that 'can citizens and banks all provide purchase orders to the Central Bank directly', pointing out that he 'can use these bonds as collateral for loans and facilities or any transactions require collateral, it can also be traded on the Iraq Stock Exchange, buying and selling and be deductible the public and private banks. "
Iraq is seeking to issue an internal national bonds to finance the deficit in the public budget for Iraq as a result of falling oil prices to below $ 30 per barrel.
Founded CBI independent bank under the law issued on the sixth of March 2004, as an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies are being daily buying and selling of foreign currencies, except for public holidays on which depends the Bank for these auctions.

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