November 18, 2021 | banking

Iraq Completes $685m Bond Issuance


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.

iraq-businessnews

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