The Ministry of Finance announces the issuance of construction bonds in the financial market

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The Ministry of Finance announces the issuance of construction bonds in the financial market

Economie| 04:00 - 05/10/2021

 

 

 

 

 

Baghdad - Mawazine News

The Ministry of Finance announced, on Tuesday, the issuance of construction bonds in the financial market.

The categories presented will be as follows:

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Adviser to the Prime Minister: Offering and selling government bonds to move idle money

•  Time: 10/05/2021 21:54:10
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{Economist: Al Furat News} The economic advisor to the Prime Minister, Mazhar Muhammad Salih, commented, on Tuesday, about the government's motive for selling government bonds.

 

Saleh told Al-Furat News that "with regard to the sale of government bonds, they are presented to the sector, the public and banks, such as legal persons, which include banks or natural personalities as members of society, and everyone has the right to purchase."
 He added, "Banks follow their policies, such as diversifying their financial surpluses by purchasing bonds and investment specified by the regulatory regulations, such as not increasing them by specific percentages of the capital."
Saleh explained, "These policies do not fall under the category of money laundering, because they are considered financial crimes such as theft and theft of public money."
He pointed out that "the goal of collecting money should be spent on development or improving the capitals of banks that support citizens, such as industrial, agricultural, real estate and housing, so that inactive money becomes effective and contributes to moving the economy."
A government source said yesterday, Monday, in a press statement, that most of the bonds offered by the government are bought by banks through their cash reserves with the Central Bank of Iraq, while citizens are satisfied with only one percent of those bonds.
From time to time, the Central Bank issues bonds in favor of the Ministry of Finance, for the purpose of financing some public expenditures, as it recently issued construction bonds in denominations of 500 thousand dinars and one million dinars.

From: Raghad Daham / Tah: Wafaa Al-Fatlawy