BONDS FOR FOREIGN
CURRENCY DEPOSITS
In order to repay the
disposed currency deposits of the citizens whose warrant is Republic of
Macedonia, a Law was carried out and published in Official Gazette
of Republic of Macedonia No. 32 in 2000 and came into force on 21 April
2000. the Law determines the manner and the procedure for repayment of the disposed currency deposits of the citizens whose warrant is Republic of
Macedonia.
This Law regulates the affirmation of the
condition of all currency deposits together with the interest including
30.04.2000, conversion on all currency deposits in Euro (ˆ) currency by
using the National Bank of Republic of Macedonia exchange rate from 30 April
2000, whole repayment of all deposits up to 50 ˆ and 3% from the deposit
for deposits bigger than 50 ˆ, the manner for transforming the balance
deposit into bond, information for the owners, repayment in installments and
bond interest, trading and transfer of bonds ownership, for which purposes
they can be used etc.
Bond issuer is Republic of Macedonia and the
issue is with payable due up to 10 years and 2% interest per year. The
repayment is performed in 20 semi annual installments and the first
installment is payable on 01.04.2002.
Trading with bonds, according to the Law,
can be performed only on the Macedonian Securities Exchange.
Copyright © 2004 CSD