Iraq Completes $685m Bond Issuance

By John Lee.

Iraq has successfully completed the sale of a 1-trillion-dinar (£685-million) construction bond issuance, also know as a “binaa bond“.

The Ministry of Finance issued the bonds for sale on the local financial market at the start of October, in two categories:

  1. IQD500,000 bonds with annual interest of 6 percent for two years; and,
  2. IQD1,000,000 bonds with annual interest of 7 percent for four years.

A statement from the Ministry said there was high demand for the bonds from citizens and banks.

(Source: Ministry of Finance)

The post Iraq Completes $685m Bond Issuance first appeared on Iraq Business News.
Source: Iraq News

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