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 December 21, 2021
Binaa Bonds Issue Two

Due to the exhaustion of the first issue of (Bena) bonds issued by the Federal Ministry of Finance and which were sold to the public, and the presence of urgent requests to launch another issue of the same bonds. The Ministry of Finance decided to launch the second issue with a value of (2) trillion dinars (two trillion dinars only) and by the same mechanism mentioned in our book No. 6/6/2916 on 10/24/2021.

Therefore, we recommend commercial banks (governmental and private) to take the necessary measures and use tools that contribute to the promotion of these bonds, and help in receiving the public and facilitating their purchase requests for these bonds.

We would also like to point out that Paragraph No. (6) mentioned in our circulars above will be valid for only two days (Sunday and Wednesday) of each week until the end of the issuance period, which will be on 01/19/2022, with your banks continuing to receive public requests daily and also until the end of the issuance period .

We hope to take the necessary measures to make the process of promoting and selling these bonds successful, in a way that makes it very easy for those who want to buy them.



» To view the mechanism for issuing construction bonds, click here
 
 
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Today, Tuesday, the Ministry of Finance directed the launch of the second issue of construction bonds that are tradable in the stock market.

The ministry said in a statement received by Alsumaria News, "This step comes after the success of the first issue of bonds that contributed to financing economic development operations and supporting investment projects, in addition to the increasing demand by citizens."
 
 
The statement explained, "The bonds will be available for trading for a period of one month, indicating that the categories of bonds offered for trading are:
- A class bond (500000) five hundred thousand dinars with an annual interest of 6% for a period of two years.
A bond category (1000000) one million dinars with an interest of 7% for a period of 4 years.

The Finance Ministry called, according to the statement, "citizens wishing to purchase submit their applications through authorized banks for the purpose of benefiting from the investment opportunity."
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Finance launches the second issue of “Al-Binaa” bonds after the success of the first stage
  
{Local: Al Furat News} The Ministry of Finance directed the Public Debt Department, in cooperation with the Central Bank of Iraq, today, Tuesday, 12/21/2021, to launch the second issue of construction bonds tradable in the stock market.

And the ministry’s media office stated in a statement that {Euphrates News} received a copy of it, that “this step comes after the success of the first issuance of bonds that contributed to financing economic development operations and supporting investment projects, in addition to the increasing demand by citizens, while the bonds will be available for trading for a period of one month. The categories of bonds offered for trading are:
1- A bond of class (500,000) five hundred thousand dinars with an annual interest of 6% for two years
2- A bond of class (1,000,000) one million dinars with an interest of 7% for a period of 4 years.

The Ministry of Finance called on "citizens wishing to purchase to submit their applications through authorized banks for the purpose of taking advantage of the investment opportunity."

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The Iraqi Ministry of Finance launches the second issue of construction bonds

The Iraqi Ministry of Finance launches the second issue of construction bonds
Iraqi Ministry of Finance
 

Mubasher: The Iraqi Ministry of Finance directed the Public Debt Department, in cooperation with the Central Bank, today, Tuesday, to launch the second issue of construction bonds tradable in the stock market.

The ministry said in a statement today, Tuesday: "This step comes after the success of the first issue of bonds that contributed to financing economic development operations and supporting investment projects, in addition to the increasing demand by citizens."

She added that "the bonds will be available for trading for a period of one month, and the categories of bonds offered for trading are a bond of 500 thousand dinars with an annual interest rate of 6% for two years, and a bond of a category of one million dinars with an interest of 7% for a period of 4 years."

The ministry called on "citizens wishing to purchase to submit their applications through authorized banks for the purpose of taking advantage of the investment opportunity."

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 Market


Economy News _ Baghdad

The Executive Director of the Iraq Stock Exchange, Taha Abdel Salam, announced, on Tuesday, that the Central Bank of Iraq issued the second issuance of government bonds, "construction bonds" worth 2 trillion dinars.  

The Executive Director of the market said in a news article published on the social networking page “Facebook” and followed by “Al-Iqtisad News”, that the Central Bank has launched the second issue of government bonds, “construction bonds” with a value of 2 trillion dinars, after the success of marketing the first issue by the bank, which will be listed. and traded in the Iraq Stock Exchange. 

He added that the new issue is offered for public subscription as of December 20, 2021 through the Iraqi banking system, with the same mechanism of the Central Bank of Iraq issued in the book No. 6/6/2916 on 10/24/2021 and the subscription ends on January 19, 2022.

 
 
Views 208   Date Added 12/21/2021
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20 minutes ago, DWS112 said:

Completion of the payment of compensation to the State of Kuwait

December 21, 2021

Completion of the payment of compensation to the State of Kuwait

 

Completion of the payment of compensation to the State of Kuwait

 
The payment of the last remaining installment of the State of Kuwait’s compensation amounting to (44) million US dollars has been completed, thus Iraq has completed the full payment of the compensation amounts approved by the United Nations Compensation Committee of the UN Security Council pursuant to Resolution No. (687) for the year 1991, with a total of (52). 4) One billion US dollars for the State of Kuwait.


It is hoped that ending the payment of compensation will contribute to removing Iraq from Chapter VII, as well as its impact on re-integrating the Iraqi banking system with the global banking system and benefiting from the financial abundance that will be achieved.

 
Central Bank of Iraq
Media Office 
December 21, 2021

News of the day! I like that last paragraph they threw in. 

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Thanks @6ly410  @DWS112  

 

I'm not sure if the mandate was to pay that debt to Kuwait off this year, but, It's great timing IMO that with only a few days left in this year, they completed the payment. 

Could be something, could be nothing, but deffinately is good news. 

Onwards and upwards Iraq, let's get this thing done so we can all move on :twothumbs:

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Definitely throws the window of opportunity wide open! We may finally be getting off this ride!! When they RV/RI just my opinion, it’s got to be 1 to 1!!! Praying we see this happening in January 2022! 🤠

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15 minutes ago, Artitech said:

Definitely throws the window of opportunity wide open! We may finally be getting off this ride!! When they RV/RI just my opinion, it’s got to be 1 to 1!!! Praying we see this happening in January 2022! 🤠

Yep and I still say it will be atleast $1.17 but hey what do I know!!!

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1 hour ago, tigergorzow said:

DWS112,  6ly410, Yota.....Thanks,  Always Keeping the faith....Excellent News before the Holidays & New Year...Come on Iraq you got this git er done....👍👍🙏🙏

 

GO RV / RI

Amen

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POSTED ON 2021-12-22 BY SOTALIRAQ
Iraq announces the end of the Kuwait compensation file
Today, Tuesday, the Central Bank of Iraq announced the completion of the payment of compensation for the State of Kuwait.

And the bank stated in a statement, “The payment of the last remaining installment of the State of Kuwait’s compensation amounting to (44) million US dollars has been completed, and thus Iraq has completed the payment of the full compensation amounts approved by the United Nations Compensation Committee of the UN Security Council under Resolution No. (687). For the year 1991, a total of (52.4) billion US dollars for the State of Kuwait.

The statement indicated that "it is hoped that ending the payment of compensation will contribute to removing Iraq from Chapter VII, as well as its impact on reintegrating the Iraqi banking system into the global banking system and benefiting from the financial abundance that will be achieved."

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The war caused great damage to both countries The war caused great damage to both countries

The Central Bank of Iraq announced, on Tuesday, "the completion of the full payment of the compensation amounts approved by the United Nations" to Kuwait due to the Iraqi invasion of it in 1990.

The bank said in a statement that "the payment of the last remaining installment of the State of Kuwait's compensation, which was $44 million, has been completed, and thus Iraq has completed the full payment of the compensation amounts approved by the United Nations Compensation Committee of the UN Security Council."

The total compensation, according to the bank, amounted to 52.4 billion US dollars.

The bank added that "it is hoped that ending the payment of compensation will contribute to removing Iraq from Chapter VII, as well as its impact on reintegrating the Iraqi banking system into the global banking system and benefiting from the financial abundance that will be achieved."

Iraq has been allocating sums from the general budget to pay the Kuwaiti compensation, which was decided by the United Nations.

And the Iraqi invasion in 1991 led to great destruction in Kuwait, its southern neighbor, in addition to launching a war in which an international coalition led by the United States participated to expel the Iraqi army from Kuwait, and thousands of Iraqis and Kuwaitis were killed as a result of the war.

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The Central Bank announces the completion of the payment of Kuwait's compensation amounting to 52.4 billion dollars

21122021203620783-f.jpg
 
 
 

PM:11:36:21/12/2021

1924 views

 
 
The Central Bank of Iraq announced, on Tuesday, the completion of the last remaining installment of Kuwait's compensation, amounting to 44 million dollars.
 
 
And the bank stated in a statement that NRT Arabic received a copy of it, (December 21, 2021), that “the payment of the last remaining installment of the State of Kuwait’s compensation amounting to $44 million has been completed, and thus Iraq has completed the payment of the full compensation amounts approved by the United Nations Compensation Committee.” affiliated to the United Nations Security Council pursuant to Resolution (687) of 1991, with a total amount of (52.4) billion US dollars for the State of Kuwait.
 
He added, "It is hoped that ending the payment of compensation will contribute to removing Iraq from Chapter VII, as well as its impact on reintegrating the Iraqi banking system into the global banking system and benefiting from the financial abundance that will be achieved."

 

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Shafaq News/ The Central Bank of Iraq announced, on Tuesday, the completion of the last remaining installment of Kuwait's compensation, amounting to 44 million dollars.

 

The bank said in a statement received by Shafak News Agency, "The payment of the last remaining installment of the State of Kuwait's compensation amounting to $44 million has been completed."

 

He continued by saying, "With this, Iraq will have completed the full payment of the compensation amounts approved by the United Nations Compensation Committee of the UN Security Council under Resolution (687) for the year 1991, with a total of (52.4) billion US dollars for the State of Kuwait."

 

He added, "It is hoped that ending the payment of compensation will contribute to removing Iraq from Chapter VII, as well as its impact on reintegrating the Iraqi banking system into the global banking system and benefiting from the financial abundance that will be achieved."

 

In 1991, a UN Compensation Committee was formed, obligating Baghdad to pay $52.4 billion in compensation to individuals, companies, governmental organizations and others, who incurred losses resulting directly from the invasion and occupation of Kuwait.

 

Iraq had stopped making payments between 2015 and 2017 during the war against ISIS, which controlled a third of the country, but it resumed in 2018.

 

Iraq was paying the amount of compensation to a UN fund established under the name of the United Nations Compensation Fund, through a percentage of oil sales.

 
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The Central Bank officially announces the completion of the payment of compensation to Kuwait

148586.jpg.e4383ea9e81b039ea2646befcc0b98c3.jpg

 

Baghdad / Obelisk: The Central Bank of Iraq announced, on Tuesday, December 21, 2021, the completion of the payment of compensation for the State of Kuwait.

The Central Bank said in a statement received by Al-Masala that the last remaining installment of Kuwait’s compensation amounting to 44 million dollars has been completed, and thus Iraq has completed the full payment of the compensation amounts approved by the United Nations Compensation Committee of the UN Security Council under Resolution No. 687 of 1991, A total of 52.4 billion US dollars for the State of Kuwait.

It is hoped that ending the payment of compensation, according to the statement, will contribute to removing Iraq from Chapter VII, as well as its impact on re-integrating the Iraqi banking system with the global banking system and benefiting from the financial abundance that will be achieved.

The UN Compensation Committee was formed in 1991, obligated Baghdad to pay $ 52.4 billion in compensation to individuals, companies, governmental organizations and others who incurred losses resulting directly from the invasion of Kuwait.

Iraq stopped making payments in 2014 during the war on ISIS, which took control of large parts of the country, but resumed payments in 2018.

 

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(edited)

https://cbi.iq/news/view/1903

 

  
 December 21, 2021
Completion of the payment of compensation to the State of Kuwait

 



Completion of the payment of compensation to the State of Kuwait
 
The payment of the last remaining installment of the State of Kuwait’s compensation amounting to (44) million US dollars has been completed, thus Iraq has completed the full payment of the compensation amounts approved by the United Nations Compensation Committee of the UN Security Council pursuant to Resolution No. (687) for the year 1991, with a total of (52). 4) One billion US dollars for the State of Kuwait.
It is hoped that ending the payment of compensation will contribute to removing Iraq from Chapter VII, as well as its impact on re-integrating the Iraqi banking system with the global banking system and benefiting from the financial abundance that will be achieved.
 
Central Bank of Iraq
Media Office 
Edited by ronscarpa
Changed Title wording
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  • ronscarpa changed the title to CBI News: 21 December 2021 * HOT: Completion of the payment of compensation to the State of Kuwait
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