Ministry of Finance issues government bonds worth two trillion dinars
The Ministry of Finance announced today, Wednesday, the launch of national bonds with a total value of (2) trillion dinars, for the period from February 10 to March 10, 2025, as the Ministry of Finance stated in a statement that “the bonds will be distributed into two categories:
The first bond is worth 500,000 dinars with an annual interest of 6%, and matures after two years, with interest paid every six months.
The second bond is worth 1,000,000 dinars with an annual interest of 7.5%, due after four years, with interest paid every six months.
The statement explained that “the bonds are distinguished by their tradability on the Iraqi Stock Exchange, which provides a distinct investment opportunity for citizens and companies seeking stable financial instruments.”
Ministry of Finance: An expanded meeting to follow up on the restructuring of insurance companies and government banks
Finance Minister Taif Sami held an expanded meeting today, Wednesday, with the Chairman of the Insurance Bureau, directors of government banks and insurance companies, and the international auditing and control company “Ernst & Young” to follow up on the measures taken to implement the restructuring of insurance companies and government banks, most notably Rafidain and Rashid Banks. During the meeting, the minister indicated that the restructuring represents a fundamental step to enhance financial stability and improve the efficiency of government banks in accordance with international standards. She pointed out the importance of developing banking systems, strengthening internal control, and implementing specialized training programs for banking cadres to ensure the provision of advanced financial services, according to a statement by the Ministry of Finance.
She also explained that the strategic plan will include introducing modern banking technologies, such as electronic payment, enhancing transparency, improving capital management and completing the comprehensive banking system, in addition to cooperating with international financial institutions and benefiting from global expertise, in addition to setting specific time frames for implementing modernization processes, which will raise the efficiency of government banks and support the national economy.
MOF: We are committed to implementing financial reforms to enhance non-oil revenues
Finance Minister Taif Sami confirmed, today, Wednesday, the ministry’s commitment to implementing financial reforms to enhance non-oil revenues.
A statement by the ministry received by the Iraqi News Agency (INA) stated that “Finance Minister Taif Sami received a number of members of the House of Representatives at the ministry’s headquarters, and during the meeting, their requests and those of citizens were heard, in addition to discussing the mechanisms for implementing the general budget, following up on the allocations of service and development projects, in addition to discussing ways to support productive sectors and provide the necessary resources to improve the level of services provided to citizens.”
The minister confirmed – according to the statement – the ministry’s commitment to “implementing financial reforms that would enhance non-oil revenues and achieve financial sustainability in accordance with approved government programs.”
The statement continued, “The representatives, for their part, praised the ministry’s efforts in managing the financial file, and stressed the importance of enhancing joint cooperation to ensure the achievement of economic goals.”
