Baghdad – IA
Today, Wednesday, Rafidain Bank announced the launch of the second issuance of Emaar bonds.
The bank stated in a statement received by the (INA), that “in accordance with the directives of the Ministry of Finance and the Central Bank of Iraq, Rafidain Bank issued the second issuance of reconstruction bonds for citizens and with the same mechanism previous to the first issuance.”
The bank stated that “the availability of bonds for sale starts from 11/28/2023 until 12/28/2023, to be in two categories:
– A bond of 500,000 dinars with an annual interest rate of 6 percent, paid every six months for a period of two years.
– A bond of 1,000,000 dinars with an annual interest rate of 8 percent, paid every six months for a period of four years.
He pointed out that “the person wishing to purchase bonds must submit a direct application to the bank, bringing with him the original identification documents.”
He explained, “The buyer will be given a receipt by the bank for the amount he paid to purchase the bond. The buyer will keep this receipt until the bond is prepared, and the buyer will bring the aforementioned receipt to the bank to receive the bond after it is prepared.”
He stated, “Bond trading takes place 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. He pointed out that buying and trading the bonds on offer (Emaar bonds) are exempt from taxes, according to what is stated in the Federal Budget Law.” No. 13 of 2023.”