Iraq Issues $1.5Bn Reconstruction Bonds

2024-01-07 09:00:27

(MENAFN- Iraq Business News) By John Lee.

Iraq's Ministry of Finance announced on Friday the issuance of the third tranche of reconstruction bonds, named "Sukuk Al-Imar," totaling 2 trillion dinars [$1.5 billion].

This issuance is in accordance with Budget Law No. 13 for the fiscal years 2023-2024-2025, covering the period from December 31, 2023, to January 30, 2024.

The offered categories for these bonds are as follows:

500,000 Dinars Bond: A half-million Iraqi dinars with a 6-percent annual interest for a two-year period.
1,000,000 Dinars Bond: One million Iraqi dinars with an 8-percent annual interest for a four-year period.

Interested buyers from the public are encouraged to submit purchase requests through authorized banks.

The Ministry urged investors and citizens, "to seize this investment opportunity, considering the limited issuance size."

These bonds are tradable on the Iraqi Stock Exchange.

(Source: Ministry of Finance)

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