6th July 2023, Skopje – Developments in the banking sector, as well as the process for purchasing the development bond for citizens, carried out via the commercial banks, which is in progress, were the topics of discussion at the meeting held between Minister of Finance, Fatmir Besimi and President of Macedonian Banking Association, Maja Stevkova Shterieva.
Process for registering the development bond for citizens, which commenced on 30th June by publishing the Prospectors for its first issuance, takes place via all commercial banks, where the citizens may submit application to participate in the auction and pay the amount they are interested in so as to purchase the respective bonds.
As per the information shared at the meeting, citizens have demonstrated interest in this new innovative product on the domestic financial market, while being supported by the banks all the way.
“We are involved in this process together with the banks in the country, and its successful completion is expected.” We offer an innovative product to the citizens, while also ensuring a certainty as regards the invested money, sound earnings from the interest thereon, thereby also adding incremental value to their money amidst prevalent high inflation rates”, Minister Besimi said.
Citizens are provided with the possibility to submit application for taking part at the action, i.e. purchasing development bond for the citizens by 12th July 2023. Minimum amount to invest in a single bond is Denar 10,000. This risk-free and safe investment will generate yield of 5% per year. Interest is fixed, without any further changes in the foreseen 2-year issuance period, as defined under the published Prospectus. As per the Prospectus, development bond for citizens will be issued in the amount of EUR 10 million, which can be increased, depending on the interest. All citizens who will apply, are to be given the possibility to purchase development bond for citizens.
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