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State borrows from people by launching Fidelis Centenar state bonds
The launch of Fidelis Centenar state bonds for the people sets up a connection between the financial world and society, offering the possibility of diversifying placements and laying the basis of financial education, said Ludwik Sobolewski, the general manager of Bucharest Stock Exchange.
State bonds for the people, launched by the Finance Ministry, can be bought over July 11-29, 2016, the nominal value being 100 lei due in two years, with an interest rate of 2.15% per year, finance minister Anca Dragu announced on Thursday.
Persons interested can purchase bonds with cash or by bank transfer, they can be residents or non residents aged over 18. A person can buy 1,000 state bonds at the most, tax free from the banks BCR, BRD, Raiffeisen Bank and Transylvania Bank.
The Centenar Fidelis government securities that mark the anniversary next year of the centennial of Romania's Great Union represent a safe state-guaranteed investment accessible to all citizen categories, Prime Minister Dacian Ciolos said on Thursday.
"In a broader context than the centennial anniversary marked by these government securities, this action also has a very clear economic component. It's a safe investment, an investment guaranteed by the state, with non-taxable interest and capital gains. And this issue of government securities was designed such as to be accessible to all citizen categories, beginning with office staff, clerks, students, pensioners, everyone can invest and also save money with these securities which are, as I said, sure-fire," Ciolos said at the launch of the security issue at the Victoria Palace.
Dacian Ciolos thanked the four banks where the public can acquire the securities - BCR, BRD, Raiffeisen Bank and Banca Transilvania - as well as the Bucharest Stock Exchange that will trade them. "A lottery will also be organized in 2018 and 100 of the buyers of such securities will receive a prize of 1,000 lei each," said the Prime Minister.
On the other hand, Ciolos announced that the government will refer to Parliament a Centennial bill, covering several aspects. "In the last government sitting we passed a decision to set up a government department dedicated to the Centennial, tasked with managing all activities related to the anniversary. Soon, in a few weeks, we will also adopt and send to Parliament a Centennial Bill encompassing institutions and projects dedicated to this milestone anniversary, such as infrastructure, education, or health projects," said the Prime Minister.