Central Bank raises national bonds worth about $ 1.3 billion


Views 2 Date 05/10/2016 - 20:31

Economy News / Baghdad

Iraqi Central Bank announced on Tuesday put forward a national bonds worth about $ 1.3 billion, and revealed that the bonds are payable to two years will be sold at a discount rate of 8%, while confirming the possibility of using those bonds as collateral for loans or other transactions require collateral, pointed out that the requests purchase from banks and citizens can be submitted directly to him.

The central bank said in a statement received by the "Economy News", a copy of it, he "proceeded to launch a national bonds on behalf of the Ministry of Finance worth 1.5 trillion Iraqi dinars, within the efforts exerted by the government to cover the deficit caused by the deterioration of oil prices and the costs are prohibitive for the war waged by Iraq against Daash organization , "noting that" those bonds are first offered for sale since 2003 ".

The statement added, " The bonds are payable for any two years until 14 March 2018, will be sold annually at a discount rate of 8% , " asserting that "orders from banks and citizens can be submitted directly to the Central Bank."

The statement pointed out , that "those bonds can be used as collateral for loans or facilities , or any transactions require guarantees, as well as the possibility traded on the Iraq Stock Exchange , buying and selling."

This is the first installment of the bonds and the $ 7 trillion Iraqi dinars, within the plan announced by the Ministry of Finance in January of this year, as the central bank announced last March that local bonds would be sold in the period from the 15th of March until mid - April, local banks and citizens.

AJ
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