By John Lee.
In line with directives from the Ministry of Finance and the Central Bank of Iraq (CBI), Al-Rafidain Bank has announced the launch of the first issuance of national bonds worth IQD 2 trillion [$1.5 billion].
The issuance period runs from February 10 to March 10, 2025.
The bonds are available in two categories:
- IQD 500,000 bonds with a 6% annual interest rate, payable every six months, maturing in two years.
- IQD 1,000,000 bonds with a 7.5% annual interest rate, payable every six months, maturing in four years.
The bonds are available for both banks and the general public (individuals and legal entities). Interested buyers must submit a direct purchase request to Al-Rafidain Bank, along with original identification documents.
State-owned Rafidain Bank is currently being restructured with the help of Ernst & Young (EY).
(Source: Al-Rafidain Bank)
According to the value of the Iraq dinar 1,000,000 is only about $1000 US, correct? They are doing bonds that low? What will happen with these bonds if the Iraq dinar is re-evaluated to something worth more than .00076?
Revalue the dinar now!
Are the interest earnings from these bonds subject to any local or government taxes? If so, what is the tax rate, and how is it deducted?"
This is wonderful news ? May I ask, what is the IQD rate for citizens inside Iraq as of today? ??
Abundance of blessings....