Al-Rafidain launches the third issue of reconstruction bonds… available in two categories, 23 JAN

 Al-Rafidain launches the third issue of reconstruction bonds… available in two categories, 23 JAN

Baghdad – 964
On Monday, Rafidain Bank announced the issuance of the third issue of reconstruction bonds, while indicating that it will be in the form of two categories, a 500 thousand dinar bond and a million dinar bond.

A statement from the bank, a copy of which was received by the 964 Network:
In a step to enhance the investment aspect and in line with the directives of the Ministry of Finance.

Rafidain Bank announces the offering of the third issuance (reconstruction bonds) for sale to citizens until January 30, 2024. With the same mechanism previous to the first and second issues.

It will be available 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 1,000,000 dinar bond with an annual interest rate of 8 percent, paid every six months for a period of four years.

The bank confirmed that the person wishing to purchase the bonds must submit a direct request to the bank, accompanied by the original identification documents, explaining that the buyer will be given a receipt by the bank in exchange 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 preparing it.

He stated that the trading of bonds takes place in the stock market, buying and selling, in addition to that, the statute of limitations for the bond is 10 years after maturity, and then it is transferred to the Ministry of Finance, pointing out that the purchase and trading of the bonds offered (Emaar bonds) are exempt from taxes, according to what is stated in the Federal Budget Law No. 13 of 2023.

964media.com