The central bank sets a 5% interest for the bonds of the contractors

Number of Views 411 Date 20/04/2017 - 17:09

Economy News _ Baghdad:

The Central Bank of Iraq revealed on Thursday that the interest rate for contractors' entitlements in the national bonds to be given by the Ministry of Finance will be 5%, stressing that it will not bear any error in the receivables of contractors.

The bank said in a statement received "The Economist News" a copy of it, "The Central Bank of Iraq will on behalf of the Ministry of Finance as a financial agent to pay the arrears of contractors delayed after the completion of the Federal Audit Bureau to audit those receivables," noting that "the interest of bonds will be 5% annually The maturity period is three years. "

He added that "the Ministry of Planning will prepare lists of names of eligible contractors and amounts owed to them and send them to the Ministry of Finance after being signed and stamped by the ministries," pointing out that "the role of the Central Bank of Iraq is to hand over bonds to contractors and according to their entitlements based on the lists received from the ministries Financial and planning and does not bear the Central Bank of Iraq any responsibility for the validity of amounts owed to contractors. "

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