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Iraq poses securities with five categories of mid-March current
Since 03/09/2016 18:11 pm (Baghdad time)
Baghdad balances News
Iraqi Central Bank announced on Wednesday his intention to launch a national bonds in five categories of the middle of this month, adding that her annual interest rate of 6%, between that can be used as collateral for loans to financial facilities.
The bank said in a communiqué distributed and received / balances News / copy of which he "will ask" nominal "national bonds on behalf of the Ministry of Finance in nominal terms in the 15th of the month of March 2016 and ends on the 15th of April in 2016 Basaddarah with five categories are" 100 thousand dinars and 250 dinars and 500 thousand dinars and one million dinars to five million dinars, "amounting to" 1.5 "trillion Iraqi dinars.
The central bank pointed out that "those bonds will be sold by discounting an interest rate of 6% per annum and is payable by the Ministry of Finance in the 14 March 2018".
The condition that "banks offer as well as all citizens to purchase orders directly with the central bank to bring a color copy of the identity of the Civil Status."
He pointed to the author that he "could use these bonds as collateral for loans, facilities or any transactions require collateral."
He also pointed out that "can be traded in Swoq Iraq Stock Exchange, buying and selling, and be subject to the midst of the public and private banks."
Iraq is seeking to issue an internal national bonds to finance the deficit in the public budget for Iraq as a result of falling oil prices to below $ 30 per barrel.
Founded CBI independent bank under the law issued on the sixth of March 2004, as an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies are being daily buying and selling of foreign currencies, except for public holidays on which depends the Bank for these auctions.
The Iraqi government relies on oil revenues by more than 90% to meet the chapters of the budget and cover the other part of the collection of certain taxes and Alhdodih.anthy ports 29
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