The Ministry of Finance, through the Public Debt Department and in collaboration with the Central Bank of Iraq, has announced the launch of the third issue of government “Enjaz” bonds for public subscription. This new bond issue, with a total value of 1.3 trillion Iraqi dinars, offers two categories of bonds to the public.
The first bond, valued at 500,000 Iraqi dinars, carries an annual interest rate of 6.5%, payable semi-annually over two years. The second bond, worth 1,000,000 Iraqi dinars, offers a higher annual interest rate of 8.5%, also payable semi-annually, but over a four-year period.
Subscription is open from October 14, 2024, to November 13, 2024. Interested individuals, investors, and companies can apply by submitting purchase requests to authorised bank branches, accompanied by identification documents. Payments will be processed through the RTGS electronic payment system, and buyers will receive a temporary receipt until the bonds are issued.
These bonds are tradable on the Iraq Stock Exchange and are issued under the Federal General Budget Law No. 13 (2023-2025). With fixed returns and government backing, the bonds are considered a safe investment and a means of supporting the national economy by financing key development projects.
Source: Ministry of Finance
- Published: 15th October, 2024
- Location: Baghdad
- Country: Iraq
- Editor: Yasmine Goumri
- Category: Economy
