The Central Bank announces the sale of Islamic certificates of deposit of 38 billion dinars

The Central Bank of Iraq announced on Wednesday the sale of certificates of Islamic deposit of 38 billion dinars, noting that two banks won the draft.

"The bank has approved an auction for the sale of Islamic depository certificates and 50 billion dinars," the bank said in a statement read by Al-Iktissad News. "Certificates of $ 38 billion were sold for this and the highest competitive prices."

The bank added that "the number of participants who participated in the auction included two banks, won the original."

The central bank is going to issue Islamic depository certificates on the Murabaha model as an effective Islamic financial instrument.

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Special Thanks to Charles Bright!!