Al-Rafidain Bank Launches First National Bond Issuance
Overview of the Issuance
Al-Rafidain Bank has officially announced the launch of its inaugural national bond issuance, amounting to a total of 2 trillion dinars, with a deadline for purchase set for March 10, 2025. This initiative is part of the bank’s strategy to promote investment opportunities within the local economy.
Bond Categories and Interest Rates
The bonds are categorized into two distinct offerings, allowing for diverse investment options:
-
Category One: Bonds with a face value of 500,000 dinars, offering an attractive annual interest rate of 6%. Interest payments will be made semi-annually over a period of two years.
- Category Two: Bonds with a face value of 1,000,000 dinars, providing a higher annual interest rate of 7.5%. Interest payments for this category are also distributed semi-annually, but over an extended period of four years.
Eligibility for Purchase
The bonds are available for acquisition by both banking institutions and individual investors, including both natural and moral persons. To facilitate the purchase, interested buyers must submit a direct request to the bank, along with the required original introductory documentation.
This bond issuance represents a significant opportunity for investors looking to engage in the Iraqi financial market while contributing to the country’s economic growth.
