Offering Completion Bonds
April 08, 2024 Offering completion bonds :diamonds: This bank, on behalf of the Ministry of Finance, will offer bonds under the name (Injaz Bonds) to the public starting from 4/15/2024 until 5/15/2024.. For more click here https://cbi.iq/static/uploads/up/file-171256457620741.pdf
https://cbi.iq/news/view/2545
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[incomplete and approximate translation of
https://cbi.iq/static/uploads/up/file-171256457620741.pdf]
All commercial banks M/ Offering bonds (Enjaz)
Based on the letter of the Ministry of Finance No. 196 dated 5/74/7410, which included the start of issuing national bonds.
To the public. This bank, on behalf of the Ministry itself, will offer bonds under the name (Injaz Bonds) to the public starting from
Date 4/14/1010 until 01/74/5 15. Because the success of the bond selling process depends primarily on your bank.
This bank invites you to receive the public and provide everything that will facilitate this process. It will not be promoted and delivered
Bonds are issued to the public only through banks.
In order to facilitate the procedures for these bonds, we have agreed to provide you with a mechanism for this. As we would like
We inform you of the following:
1. Lump sum administrative commissions will be allocated by the Ministry of Finance amounting to (11) thousand dinars (twenty thousand dinars).
For every customer attracted by your bank to buy the bond.
The bonds offered will be in two categories:-
:copyright:» A bond in denomination (500,000) dinars (five hundred thousand dinars) with annual interest (7.5/) for a period of two years and paid every six
Months.
:copyright: Bond denomination (1,000,000) dinars (one million dinars) with annual interest (8.5)) for a period of four years and paid every six months also.
“Your bank is required to announce to the public through all your branches and on social media pages
Your account or any other means of communication that you deem appropriate in a way that makes the purchasing process understandable and non-existent Complicated.
5. The amounts received from the public are collected and transferred at the end of each week to this bank until the end of the period
Designated for sale and code (5509).
. These bonds are exempt from taxes and related fees.
. Adherence to the usual anti-money laundering and counter-terrorism financing procedures and in accordance with the instructions issued in this regard.
. The possibility of using the bonds under study as guarantees in exchange for granting cash credit to customers (companies or individuals)
Provided that the amount and duration of the credit granted do not exceed the value and term of the bonds taken as guarantees.
6. These bonds are traded in buying and selling in the Iraq Stock Exchange.
9. The open market operations office in this bank is provided (exclusively) with the names of those wishing to buy any bonds
In paper form or via this office’s e-mail (WZA :copyright:08500.00626).
We ask your bank to take the necessary measures to combine efforts and make the bond sale process successful at all stages. With appreciation.
Attachments: - Mechanism for issuing completion bonds - Form/number (1)
https://cbi.iq/static/uploads/up/file-171256457620741.pdf]
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