Wrote: January 22, 2013 : Economic | Comments: 0
Central bank announced the sale of 80 billion dinars Khawwalat treasury for 182 days at an auction and approved by the Ministry of Finance to be conducted.
The bank said in a statement, said he was selling issue fully as won by 3 participants and the highest rate cut for competitive auctions reached 5 t 6 percent and an annual interest rate of 5.3 percent.
He explained, that the participants in the auction are two banks, in addition to the circle of care for minors and the retirement, noting that the three participants won Basdaria of through competitive bidding, and the fourth non-competitive tender.
In Iraq, there two systems for the sale of government bonds are bonds the central bank short-term bonds and in days, and long-term Treasury bonds 5% interest rate issued by the Ministry of Finance based on the law of public debt, which conferred upon issuance of treasury remittances are guaranteed by the government.
The Central Bank of Iraq as a financial agent of the Ministry of Finance Department of Treasury auctions remittances Government of Iraq on behalf of the ministry, which will, according to the determinants of the annual budget law by issuing treasury remittances for the purposes of state funding.