Al-Rafidain Bank has officially launched its first national bond issuance, valued at IQD 2 trillion (approximately $1.5 billion), in line with directives from the Ministry of Finance and the Central Bank of Iraq (CBI). This initiative marks a significant move in Iraq’s financial landscape, providing an opportunity for both banks and the public to invest.
The bond issuance period will run from February 10 to March 10, 2025. Investors can choose between two categories of bonds:
- IQD 500,000 bonds with a 6% annual interest rate, payable semi-annually, maturing in two years.
- IQD 1,000,000 bonds with a 7.5% annual interest rate, payable semi-annually, maturing in four years.
These bonds are available for both individuals and legal entities. To participate, buyers must submit a direct purchase request to Al-Rafidain Bank, along with their original identification documents.
This national bond issuance is a major step toward strengthening Iraq’s financial sector. It also supports the ongoing restructuring of the state-owned Al-Rafidain Bank, which is being assisted by global consulting firm Ernst & Young (EY). The issuance aims to attract investments and provide funding for national development projects, contributing to Iraq’s economic growth.