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  Baghdad: Mustafa Al-Hashemi
 
Recently, the Ministry of Finance, in cooperation with the Central Bank, launched its second issuance of building bonds in two categories, after it had launched in early October, the sale of financial bonds known as “building bonds” in the financial markets, which were considered among the important and effective steps in raising and developing the economy. .
According to a statement, the Ministry of Finance directed the Public Debt Department, in cooperation with the Central Bank, last week, to launch the second issue of construction bonds tradable in the stock market.
The statement added, "This step comes after the success of the first issuance of bonds, which contributed to financing economic development operations and supporting investment projects, in addition to the increasing demand by citizens to buy them," explaining, "The bonds will be available for trading for a period of one month, and the categories of bonds offered for trading are represented B A bond of category (500) thousand dinars with an annual interest of 6% for a term of two years, and the second bond of category (1000000) one million dinars with an interest of 7% for a term 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.
The ministry had stated in a previous statement that the first issuance of construction bonds, which was launched in early October, achieved sales of one trillion dinars, within 45 days, through the great demand by citizens and banks for these bonds, and the depletion of the financial allocation allocated to them, explaining that These bonds will expand the role of the state in a free and diversified economy, and contribute to the development of other vital sectors.
Specialists in economic affairs see the importance of offering such bonds as they contribute to addressing the financial deficit in the general budget, as well as achieving profitable and rewarding benefits for the purchasers of these bonds, which were put forward by the ministry, at a price of one million dinars for a period of four years at an interest rate of 7% and for a period of two years at an amount of 500 thousand dinars at interest.
6%. And economic researcher Lubna Al-Shammari called for “increasing public education about the importance of these bonds, and the importance of trading them in the Iraqi stock market, because of their economic repercussions that achieve benefits represented in withdrawing the cash mass of the public and re-employing it in the banking system, in order to achieve the highest economic interest of the country.”
The move by the Ministry of Finance, in coordination with the Central Bank, to contribute to the development of the local financial market and mobilize savings, especially after the government launched in the year 2020 comprehensive reform programs for the Iraqi economy, represented by the white paper, as the ministry began implementing its programs, which can be considered a way to address challenges serious problem facing the economy. The Ministry of Finance also confirms that it is continuing to implement financial reform programs within the adoptions of the white paper, for the purpose of addressing the financial deficit in the general budget, in addition to charting a correct path for the economy and the public budget through which it guarantees sustainability so that Iraq can make its decision towards the right economy.
Al-Shammari indicated, "The necessity of withdrawing liquidity from outside the banking sector and employing it in effective economic matters, that would fill the budget deficit by internal borrowing through treasury bonds, which are issued by the Ministry of Finance."
Al-Shammari explained that "treasury transfers aim to reduce the budget deficit by offering bonds in auctions managed and supervised by the Central Bank, in which government agencies and departments participate, such as caring for minors' funds, retirement, and the social protection network to enhance their funds and achieve benefits for citizens who benefit from the services of those departments."
The economic academic, Dr. Majid Al-Baydani, had previously called on the Ministry of Finance to give the matter attention, which is appropriate to the size of the responsibility in achieving transparency with regard to the management and employment of funds in a way that enables Iraq to overcome the financial crisis.
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  • 2 weeks later...

Al-Rasheed directs its branches to sell building bonds to citizens with interest to be paid every six months

 

 

432 Economy 2022/01/11 13:05 Baghdad today -

Baghdad Today, Tuesday, Al-Rasheed Bank announced the resumption of work by receiving the purchase of (building bonds / the second issue) from citizens. A statement by the bank, received by ( Baghdad Today ), stated that "Al-Rasheed Bank has resumed work by receiving the purchase of (building bonds / the second issue) from citizens," calling on "those wishing to purchase to review the bank's branches in Baghdad and the provinces." He added that "the instructions set the value of the bond (500) five hundred thousand with interest (6%) to be paid to the customer every six months for a period of two years, and a bond in the amount of (1,000,000) dinars with interest (7%) to be paid every six months for a period of four years."

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 2022-01-11 05:05
 

Shafaq News/ Al-Rasheed Bank announced, on Tuesday, the resumption of work by receiving the purchase of (building bonds / the second issue) from the public.

 

The media office called on those wishing to purchase to review the bank's branches in Baghdad and the provinces.

 

He added that the instructions set the value of the bond (500) five hundred thousand with interest (6%) to be paid to the customer every six months for a period of two years, and a bond amounting to (1,000,000) one million dinars with interest (7%) paid every six months for a period of four years.

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An invitation to take advantage of the opportunity.. Al-Rafidain Bank launches the second issue of construction bonds
 

  

Baghdad - people  

On Thursday, Al-Rafidain Bank launched the second issue of construction bonds, after the successful completion of the first phase.  

  

 

  

And the bank’s media office said in a statement, a copy of which was received by “People”, (January 13, 2022), that “the bank directed its branches in Baghdad and the provinces to receive requests from citizens wishing to purchase these bonds and with the same previous instructions.”  

He pointed out that "the bank set earlier controls for the sale, including a bond of 500 thousand dinars with an interest rate of 6 percent for a period of two years, and a bond of one million dinars with an annual interest of 7 percent for a period of four years."  

He called on citizens to "take advantage of the opportunity and visit the bank's branches to apply for this service that benefits the customer."  

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Rafidain Bank launches building bonds for citizens

01:50
Rafidain Bank launches building bonds for citizens

Fourth - Baghdad

Today, Thursday, Al-Rafidain Bank launched the second issuance of construction bonds after the completion of the first phase. 

The bank's media office said in a statement received by the fourth bank that "the latter directed its branches in Baghdad and the provinces to receive requests from citizens wishing to purchase these bonds, with the same previous instructions."

 

 He pointed out that "the bank set earlier the controls for the sale, including a bond of 500 thousand dinars with an interest rate of 6 percent for a period of two years, and a bond of one million dinars with an annual interest of 7 percent for a period of four years."

 The bank called on citizens to take advantage of the opportunity and visit the bank’s branches to apply for this service that benefits the customer.

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  •  Time: 01/13/2022 09:48:34
  •  
  •  Reading: 988 times
Rafidain Bank launches building bonds for citizens
  
{Economic: Al Furat News} Rafidain Bank launched, on Thursday, the second issue of construction bonds, after the completion of the first phase with remarkable success.

And the media office of the bank said in a statement received by {Euphrates News} that "the latter directed its branches in Baghdad and the provinces to receive the requests of citizens wishing to purchase these bonds and with the same previous instructions." 

He pointed out that "the bank set earlier the controls for the sale, including a bond of 500 thousand dinars with an interest rate of 6 percent for a period of two years, and a bond of one million dinars with an annual interest of 7 percent for a period of four years." 

He called on citizens to take advantage of the opportunity and visit the bank's branches to apply for this service that benefits the customer

 
 
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Al-Rafidain issues a new statement regarding the sale of construction bonds

01:04
Al-Rafidain issues a new statement regarding the sale of construction bonds

Fourth - Baghdad

Today, Saturday, Al-Rafidain Bank issued a new statement regarding the sale of construction bonds.

 

A statement by the bank, received by the fourth bank, stated that the latter "continues to sell construction bonds to citizens who wish to purchase."

He added, "The sale is through the bank's branches located in Baghdad and the provinces."

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2 hours ago, yota691 said:

Al-Rafidain issues a new statement regarding the sale of construction bonds

01:04
Al-Rafidain issues a new statement regarding the sale of construction bonds

Fourth - Baghdad

Today, Saturday, Al-Rafidain Bank issued a new statement regarding the sale of construction bonds.

 

A statement by the bank, received by the fourth bank, stated that the latter "continues to sell construction bonds to citizens who wish to purchase."

He added, "The sale is through the bank's branches located in Baghdad and the provinces."

       And thereby sucking in more of that mattress money . 

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  • 2 weeks later...

A statement from Al-Rasheed Bank regarding the sale of building bonds to citizens

3012022949upload_1626703119_1734574776.j
 

PM:12:49:30/01/2022

408 views

 
 
Today, Sunday, Al-Rasheed Bank decided to extend the period of selling construction bonds to citizens.
 
And the bank’s media office stated, in a statement that NRT Arabic received a copy of it, that “it was decided to extend the period of selling building bonds to citizens,” noting that “the extension period lasts for two weeks, from 19/1 to 1/2/2022.”
 
He explained that "the decision came in conjunction with the continued purchase of citizens," noting that "these bonds are an opportunity for the citizen to invest his money by purchasing the number he desires in return for the interests he obtains from the bank."
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Al-Rasheed decides to extend the period of selling “Bina” bonds to citizens

Economie01:08 - 30/01/2022

 
image
 
 

 

Baghdad - Mawazine News
, Al-Rasheed Bank decided, today, Sunday, to extend the period of selling construction bonds to citizens until the beginning of next month.
The media office of the bank stated, in a statement received by Mawazine News, that "it was decided to extend the period of selling building bonds to citizens," noting that "the extension period is two weeks, starting from 1/19 to 1/2/2022."
He explained, "The decision came in conjunction with the continuation of buying from citizens," adding that "these bonds are an opportunity for the citizen to invest his money by buying the number he wants in return for the interests he obtains from the bank." Ended 29/N33

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The Iraqi Finance sets the last date for the purchase of construction bonds

The Iraqi Finance sets the last date for the purchase of construction bonds
Iraqi Ministry of Finance
 

Mubasher: The Iraqi Ministry of Finance, represented by the Public Debt Department, announced today, Monday, the last day to purchase the second (construction) bond issue.

The Ministry of Finance said, in a statement, that it will be available for trading until Wednesday, February 2, 2022.

The finance added that the increasing demand for buying these bonds provided the opportunity for various citizens and economic sectors to invest their money in return for rewarding interests, in addition to the important economic benefits of offering these bonds, developing financial policy and enhancing promising development opportunities.

The ministry noted that the issuance of bonds is guaranteed by the Ministry of Finance, and it is possible to apply for purchase from one of the authorized government banks, as well as the possibility of trading these bonds in the Iraq Stock Exchange.

 It could be an image of a text

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30262.jpg
 
  

 money and business


Economy News _ Baghdad

Today, Monday, the Ministry of Finance announced the last date for purchasing the second issuance of construction bonds, and making them available for trading until next Wednesday. 

 A ministry statement, received by "Economy News", stated that "next Wednesday will be the last day to purchase the second issue of construction bonds and make them available for trading."

He added, "The increasing demand for buying these bonds has provided the opportunity for various citizens and economic sectors to invest their money in return for rewarding interests, in addition to the important economic benefits of offering these bonds, developing financial policy and enhancing promising development opportunities."

The statement called on citizens and various economic sectors who wish to purchase, to "visit its website and Facebook page to view its instructions."

It is noteworthy that the issuance of bonds is guaranteed by the Ministry of Finance, and they can apply for their purchase from one of the authorized government banks, as well as the possibility of trading these bonds in the Iraq Stock Exchange.

 
 
Views 178   Date Added 01/31/2022
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  • 3 months later...

This was from about 1 month prior to the title of this thread....click on the blue for the 14 page document....and of course since, Russia/Ukraine has had an affect....some great nuggets on the central workings of the CBI

CL 

 

Central Bank of Iraq

As-it-happens update May 11, 2022

WEB

View of Internal Debt Options during the Two Double Shocks and Its Impact on Foreign ...
Central Bankof Iraq (CBI)has significantly contributed to Internal Debt ... The second double crisis (2020)reduced the exchange rate of the Iraqi ...
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This would lead me to believe a float is more likely...CL 

earc

الجامعة aluation
  1. Main Page
  2. main page
  3. The Iraqi Journal of Economic Sciences publishes an article on the Iraqi dinar between the polemics of flotation and devaluation
http://uomustansiriyah.edu.iq/images/Depts_posts/post_221/5799_2022_05_15!12_10_01.jpg

main page

 2022/05/15 12:10:01 مساءً  31

 

 The Iraqi Journal of Economic Sciences, issued by the College of Administration and Economics - Mustansiriyah University, published in its seventy-first issue for the month of December 2021 an article under the title (The Case and Opinion / The Iraqi Dinar between the Dialectics of Flotation and Devaluation) by Dr. Mazhar Muhammad Salih / Adviser to the Prime Minister for Financial and Economic Affairs.

 

The article indicates that despite the monetary policy of the Central Bank of Iraq following the shock method in adjusting the value of the Iraqi dinar with the procedures of December 19, 2020, but the reduction in the dinar exchange rate at a rate of 20% was identical to the deficit in the current account of the Iraqi balance of payments relative to the GDP The total, which was estimated at about (negative 20%) for the year 2020. The debate remained among some economists about the importance of the Central Bank of Iraq resorting to the floating currency philosophy as a prelude to gradual adjustment instead of adopting the method of shock and surprise to the market with a low, alternative external value of the Iraqi dinar overnight. Overnight!).

Floating the currency exchange rate in essence means adopting an exchange system according to which the external value of the national currency is determined according to the forces of supply and demand in the exchange market. This comes in contrast to the fixed exchange system, in which the monetary authority or the central bank determines the value of the dinar against foreign currency in advance and according to the rules of its monetary policy.

In spite of the foregoing, and in order to explain the importance of the policy of (floating the Iraqi dinar and adopting an equilibrium rate in the exchange market instead of (devaluation) according to the (shock) method that occurred in the value of the Iraqi dinar at the end of 2020, we must state in this regard the following:

First: In our economy of a unilateral rentier (sovereign) nature, the Central Bank of Iraq (the central market) is the monopoly in providing sources of foreign currency supply through open market operations.

Second: In the developing (non-rentier) economies that are diversified in the sources of supply of their foreign currency and their trade openness to import and export through free market forces.

But the question remains about the importance of the flotation, whether the Iraqi market cannot correct the exchange rates in the flotation when the central bank raises its hand as a central market so that the forces of demand appear in a market in which supply falters without continuous and intensive intervention that meets the demand for foreign currency without the intervention of the monetary authority. Itself.

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  • 2 weeks later...
On 5/18/2022 at 4:25 AM, coorslite21 said:

Floating the currency exchange rate in essence means adopting an exchange system according to which the external value of the national currency is determined according to the forces of supply and demand in the exchange market.

 

This comes in contrast to the fixed exchange system, in which the monetary authority or the central bank determines the value of the dinar against foreign currency in advance and according to the rules of its monetary policy.

الجامعة المستنصريةMustans

Personally, i still prefer fixed exchange rate determined by central bank eventhough iraq is full of BS and delays. On the other hand , floating the exchange rate is determined by supply and demand and this is going to take a lot more longer to increase the IQD.

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On 5/30/2022 at 11:51 AM, rvmydinar said:

Agreed. That's the reason we have been holding IQD for almost 19 years.

Up til now I've been pretty good at holding off the Grim Reaper.

Between my military combat service, a govt. Employee working at the Ammo Depot in Kuwait during that last war ( some pretty close shaves there ). ...explosives handler for Halliburton in the Gas fields of Colorado/Pipeline maintenance & for pumping rigs & construction in the Bakken oil field in N. Dakota: I've had some dangerous jobs & a fair share of close calls/ I've really been beating the odds, then last year surviving COVID ( hospital staff told my wife to get affairs in order ' twice ' they didn't expect me to survive ).

Not sure how long I can keep this up. Sure would like to see a RV. :twothumbs:

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11 hours ago, horsesoldier said:

Up til now I've been pretty good at holding off the Grim Reaper.

Between my military combat service, a govt. Employee working at the Ammo Depot in Kuwait during that last war ( some pretty close shaves there ). ...explosives handler for Halliburton in the Gas fields of Colorado/Pipeline maintenance & for pumping rigs & construction in the Bakken oil field in N. Dakota: I've had some dangerous jobs & a fair share of close calls/ I've really been beating the odds, then last year surviving COVID ( hospital staff told my wife to get affairs in order ' twice ' they didn't expect me to survive ).

Not sure how long I can keep this up. Sure would like to see a RV. :twothumbs:

Thank you for your service horsesoldier. Thank's god you survived covid. Even covid isn't over yet, there is a monkeypox that almost looks like a chickenpox.  Is there a vaccine for a monkeypox?

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11 hours ago, horsesoldier said:

Up til now I've been pretty good at holding off the Grim Reaper.

Between my military combat service, a govt. Employee working at the Ammo Depot in Kuwait during that last war ( some pretty close shaves there ). ...explosives handler for Halliburton in the Gas fields of Colorado/Pipeline maintenance & for pumping rigs & construction in the Bakken oil field in N. Dakota: I've had some dangerous jobs & a fair share of close calls/ I've really been beating the odds, then last year surviving COVID ( hospital staff told my wife to get affairs in order ' twice ' they didn't expect me to survive ).

Not sure how long I can keep this up. Sure would like to see a RV. :twothumbs:

We can only hope this baby will pop in our life time.

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13 hours ago, rvmydinar said:

Thank you for your service horsesoldier. Thank's god you survived covid. Even covid isn't over yet, there is a monkeypox that almost looks like a chickenpox.  Is there a vaccine for a monkeypox?

 

Give the government & Big Pharma some time...I'm sure they'll come up with a " safe & effective vaccine " just like they did for Covid. 😆

A number of my friends now have chronic issues they never had prior to taking the COVID vaccines.

I never took the jab...it was an awfully rough 3week ride in hospital isolation: but I beat it.

I'm what the medical community refer to as a long hauler recovery. Still not 100%, but I'm getting there slowly.

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