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:
- IQD500,000 bonds with annual interest of 6 percent for two years; and,
- 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)