Thread: Iraq/Dinar News. 09/05 to 01/14/07

Originally Posted by MOM2TWO

I am just curious how this will all go down? One morning will I wake up, check MSN's money foreign exhchange rate chart and see the Iraqi Dinar?? It just seems somewhat anti-climatic. Or will it be all over the news "millions of US citizens become overnight millionaires"?? Any thoughts??

Trust me. Even if the CBI were to re-val it to 1 IQD = .10 USD it will be headline news not only in Financial media but every media World wide. This will be one of the biggest stories of the decade. The scope of what we are headed into is huge, so be prepared. This ain't no chicken feed.

The cancellation of Iraq's debt would help in the implementation of the commitments of the document the international.
01/11/06

Deputy Prime Minister Barham Salih said that the cancellation of Iraq's debt accumulated from the days of the era of ousted president Saddam Hussein 'will help Iraq in the implementation of many of the commitments contained in the document'.

Saleh emphasized in a speech delivered at the opening meeting of the Preparatory to the International Covenant with Iraq that Iraq is in dire need of financial support to address the shortage of Iraqi budget and to enable the Iraqi government to improve their positions.

He pointed to a number of major tracks in the reform plan, pointing out that the first track of the political treatment and the establishment of a federal democratic institutions and the second is the achievement of security and stability.

He added that the third track seeks to achieve economic growth and prosperity for the Iraqi people who have suffered for long decades, pointing out that the document the international with Iraq as a road map towards achieving economic self-sufficiency.

He pointed out that the document is considered to be a mutual commitment between the leaders of Iraq and the Iraqi people, as well as a mutual commitment between Iraq and between partners in the document.

The document stresses the need to address the security and political situation is deteriorating in Iraq on the basis of respect for all human rights. Saleh emphasized that sound economic management are important and basic things in the document it touches on many of the necessary aspects of the reform process in the forefront of the fight against corruption and lack of tolerance in charge of it.

He pointed out that discussions within the corridors of the Iraqi government on the International officials led to a series of proposals on the reform of the Iraqi state.

Saleh emphasized the seriousness of the Iraqi government led by Nuri al-Maliki in ousting Iraq from their current trial, adding that he has been launched to schedule includes a series of executive steps.

He added that among the steps the formation of a committee to amend the Constitution and to discuss the solution of political parties and a number of economic laws, including the law on oil and gas.

He Saleh hoped that the International Covenant contribute to making Iraq closer to achieve its development objectives, including reducing the number of families living under the poverty line by half and lower unemployment rates.

Trade attribute the delayed payment of Eid refused to grant financial distribution mechanism
30/10/06


The Ministry of Commerce attributed the reasons for the delayed payment of a grant of Eid al-Fitr to the refusal of the Ministry of Finance and preparations for the grant distribution mechanisms through agents foodstuffs in Baghdad and other governorates, and its insistence on distribution through banks because of the security situation and ensure the maintenance of these amounts and delivery to every citizen. The spokesman of the Ministry of Information traders e in a press
Said that his ministry had completed all the requirements of the distribution mechanism through agents directly and developed a practical plan for implementation before the holiday of Eid al-Fitr, pointing out that the ministry set up an operation room headed by the Minister of Trade to speed up the distribution of the grant amounting to 10 thousand dinars for each citizen by agents there as geographic each lane and the city of view T. tough accuracy, speed and facilitate the task of the citizen and saved from the massive crowding at the gates at the banks.
He pointed out that the plan of the Ministry of Trade rose to the Ministry of Finance in order to recognize amounts for the grant amounting to 300 billion dinars, but the financial plan refused to trade and it was felt that the distribution would be through government banks justified by ensuring the maintenance of these amounts of thefts and not to hold the agent responsible for the loss amount in addition to a the security situation is not conducive to distribution through agents of foodstuffs. The spokesman assured the press that all citizens tables and Trade Ministry in charge of supervising the distribution process completed the preparation of lists of names of citizens exist in the records of the ration card was handed to the Ministry of Finance in order to distract the onus grant R. banks scattered throughout Iraq in the coming days, as the case earlier in the distribution of the compensation shortage of materials ration card.

Final statement. Partners Iraq pledging their support to help in the face of challenges
01 / 11 / 2006

Source : KUNA

The statement 'Kuwait preparatory team of the International with Iraq,' Iraq's international partners pledged to provide financial, technical and political support to help meet these challenges on the grounds of mutual obligations to regain its position natural.

The statement added the final preparatory meeting on the International Covenant with Iraq today that the meeting aimed to reach a final formula for the support and the support of the Covenant, sponsored by the Iraqi government and the United Nations.

He explained that the 'United Nations reaffirms its commitment to the success of this and continue to support and implement its provisions through its mission and agencies in Iraq and the good offices of the Secretary-General of the United Nations and its representatives'.

The statement said that the 'Covenant aimed at creating mutual interaction between the national consensus and international support, pointing out that he seeks on the domestic level to a national agreement on the program of work of the government's political, economic and to restore the confidence of the Iraqi people and the state's capacity to protect its members and to meet their basic needs'.

The statement added that at the international level will lead to the creation of a framework of mutual obligations, which would be supported by Iraq and reinforced his determination to deal with the reforms and policies important.

He said that 'it is known that the settlement of political and security challenges, good governance and the provision of basic services are prerequisites for progress in other fields, including the economic recovery'.

The statement said that the initiative of the government of Iraq for a new partnership with the international community saying that this Covenant chaired by the government of the Republic of Iraq and the United Nations with support from the World Bank over the next five years.

He added that the international community and multilateral organizations will help Iraq to achieve the national vision which aims to to build an Iraq that is secure, unified, federal and democratic society based on freedom and equality and achieve peace and prosperity for all its citizens, and merge fully with the region and the entire world.

The statement said, 'the basis of the urgent need to make steady and unwavering support of the contract as has been proposed by the official ratification will be in the framework of a high-level meeting which will be held over the next few weeks'.

He stated that 'this great event witnessed extensive presence of representatives of twelve countries in addition to the eight regional organizations, multilateral and preparatory team of the era, such a meeting the completion of the preparatory process undertaken by the Iraqi government with support from the United Nations and the World Bank under very difficult circumstances prevail if Iraq Oh.

The statement added that the serious challenges facing Iraq shadow over the drafting of the Covenant as the objectives, strategies and indicators are integrated plan to overcome these challenges.

Originally Posted by MunnyBaggs

I note almost every thing ever written in Arabic is being translated on these boards. I suppose it is in search of the golden Easter egg of someone slipping up and revealing potential future IQD rates. But has anyone transcribed and translated what could be the most important clue we have: www.cipe.org/iraq ??? This is the August 6, 2005 TV episode where CBI executives say 14 Iraqi denominations have been printed up. The question is was the translation accurate with the number 14 being correct??? Also did they possibly list which denominations have been printed during the course of that TV interview show. If we could get an accurate translation of that show and these reports are true the Iraqis and us will be ultra rich.

This [I think] is the translation of the above:

Economic Files A weekly businessoriented television show produced, written, directed, and broadcast by Iraqis with additional support provided by the Center for International
Private Enterprise To view the entire episode, please visit
www.cipe.org/iraq Center for International private Enterprise, 1155 15th Street, N.W. • Suite 700 • Washington, DC 20005 - [email protected] • (tel) 202-721-9200 • (f) 202-721-9250 • url=http://www.cipe.org]CIPE | Center for International Private Enterprise[/url] Featured Guests: Mr. Ali Hassan Abu Naila (Director General, Exchange Department, Central Bank of Iraq), Mrs. Nibal Thanon Al-Sai’gh (Director General, Transfer and Credits Department, Central - Bank of Iraq), Mr. Walled Eddy Abdul Nabi (Assistant Director General, Exchange Department, Central Bank of Iraq), Mr. Hussam Abid Ali (CEO of private bank: Economics Bank for Investments and Funding), Mr. Moayad Basher Hadded (Financial Consultant), and Dr. Emad Mohammad Ali (Professor of Economics, Baghdad
University).

The program discussed the financial sector and money markets in Iraq, with a special focus on the role of the Central Bank of Iraq.
The program addressed the following topics:
• Regulation and stocking of Iraqi currency
• Monitoring of credits according to the general monetary
policies of the government.
• Fixing the rate of the Iraqi Dinar and fighting inflation
• Partnership opportunities between local and international
private banks
The three guests from the Central Bank discussed the bank’s
plan to enhance the Iraqi banking sector and financial markets
throughout 2006. They highlighted a series of steps that have
already been taken, including:
• Establishing the Central Bank’s independence from the
Ministry of Finance
• Training 70% of the bank’s staff on international best
practices

• Printing a series of 14 new Iraqi Dinar notes and coins

However, guests on the show representing private banks and the private sector, as well as average Iraqis interviewed on the street, voiced the following concerns about the policies of the Central Bank:
• There is only one financial market within Iraq, the Iraq Stock Exchange, which is dominated by a few key players.
• The procedures for participating in the Iraq Stock Exchange are very cumbersome. For example, it takes 45 days for a certificate to be issued to a new stockholder.
• Private banks require support from the Central Bank to
obtain training for their staff in areas such as information
technology, international best practices, and English.
• Checks issued by private banks are not accepted by state and government entities.
Aldiyar Satellite Broadcasting presents:
Episode 6 Synopsis: The Financial Sector and Money Markets - Airdate: August 6, 2005
Economic Files does not necessarily reflect the views of CIPE

I'm lost here . . . is the above saying for sure that there are *14* notes & coins . . .

Is this old or new stuff [ as M/B states it's from Aug 2005 ] . . .

I've only been involved in all this since 7/2006 . . . so maybe I missed any / all / discussion of this from way back / when . . . anyway, as I say, I'm lost here . . .

Help, . . . anyone . . . RR . . .

Originally Posted by RollsRoyce

This [I think] is the translation of the above:

Economic Files A weekly businessoriented television show produced, written, directed, and broadcast by Iraqis with additional support provided by the Center for International
Private Enterprise To view the entire episode, please visit
www.cipe.org/iraq Center for International private Enterprise, 1155 15th Street, N.W. • Suite 700 • Washington, DC 20005 - [email protected] • (tel) 202-721-9200 • (f) 202-721-9250 • url=http://www.cipe.org]CIPE | Center for International Private Enterprise[/url] Featured Guests: Mr. Ali Hassan Abu Naila (Director General, Exchange Department, Central Bank of Iraq), Mrs. Nibal Thanon Al-Sai’gh (Director General, Transfer and Credits Department, Central - Bank of Iraq), Mr. Walled Eddy Abdul Nabi (Assistant Director General, Exchange Department, Central Bank of Iraq), Mr. Hussam Abid Ali (CEO of private bank: Economics Bank for Investments and Funding), Mr. Moayad Basher Hadded (Financial Consultant), and Dr. Emad Mohammad Ali (Professor of Economics, Baghdad
University).

The program discussed the financial sector and money markets in Iraq, with a special focus on the role of the Central Bank of Iraq.
The program addressed the following topics:
• Regulation and stocking of Iraqi currency
• Monitoring of credits according to the general monetary
policies of the government.
• Fixing the rate of the Iraqi Dinar and fighting inflation
• Partnership opportunities between local and international
private banks
The three guests from the Central Bank discussed the bank’s
plan to enhance the Iraqi banking sector and financial markets
throughout 2006. They highlighted a series of steps that have
already been taken, including:
• Establishing the Central Bank’s independence from the
Ministry of Finance
• Training 70% of the bank’s staff on international best
practices

• Printing a series of 14 new Iraqi Dinar notes and coins

However, guests on the show representing private banks and the private sector, as well as average Iraqis interviewed on the street, voiced the following concerns about the policies of the Central Bank:
• There is only one financial market within Iraq, the Iraq Stock Exchange, which is dominated by a few key players.
• The procedures for participating in the Iraq Stock Exchange are very cumbersome. For example, it takes 45 days for a certificate to be issued to a new stockholder.
• Private banks require support from the Central Bank to
obtain training for their staff in areas such as information
technology, international best practices, and English.
• Checks issued by private banks are not accepted by state and government entities.
Aldiyar Satellite Broadcasting presents:
Episode 6 Synopsis: The Financial Sector and Money Markets - Airdate: August 6, 2005
Economic Files does not necessarily reflect the views of CIPE

I'm lost here . . . is the above saying for sure that there are *14* notes & coins . . .

Is this old or new stuff [ as M/B states it's from Aug 2005 ] . . .

I've only been involved in all this since 7/2006 . . . so maybe I missed any / all / discussion of this from way back / when . . . anyway, as I say, I'm lost here . . .

Help, . . . anyone . . . RR . . .

Hey Rolls, first of all thanks for your great info. Please keep us informed.

The way I see it, it is an old article and the printing is related to the program. If I read it right. There are now 9 in circulation and 5 "somewhere"!!

In my opinion this has nothing to do with a new currency but just steps that the CBI has taken or must taken according the program.

Iraq Weekly Program Highlights

The Committee of Regulation and Legislation that has emanated from the recently established Iraqi Business Council held a meeting on October 15, 2006 in the Hall of Market Researches Center in Baghdad University. Committee members included Dr. Muna Al Mousawi from the Center for Market Researches, Mr. Hameed Al Hilli from IEDC, Mr. Abdul Hussein Mubaraka from the Iraqi Business Men Union, and Mr. Abdul Hasan Al Shemari from IIA. The meeting discussed recommendations regarding the new investment law. The Iraqi business council will represent the private sector in advocating for the implementation for the new law.

CIPE

I think this is what he is refering to RR

Originally Posted by kiko

Hey Rolls, first of all thanks for your great info. Please keep us informed.

The way I see it, it is an old article and the printing is related to the program. If I read it right. There are now 9 in circulation and 5 "somewhere"!!

In my opinion this has nothing to do with a new currency but just steps that the CBI has taken or must taken according the program.

as im sitting here looking at it.. it can also mean there are 14 notes and 14 coins (no unheard of )

Hi everyone, thanks for all the great posts.

To me everything is pointing to a RV before the 13th of november and I even hope sooner.

We know the FIL should be enacted within the month, we also read it, but it is only not official published in the Gazette. This should be around the 7th/8th.

My personal opinion is that everything is done and made ready behind closed doors to prevent speculation. Doing this tells me that it would be big!!

ISX is trading from 1st november and I have an order which will be executed on the 6th of November. I think the date of 7th november is old, maybe from last year. I also think that the ISX will trade ectronically this month. ISX is ready.

BoA will be trading from 13th of november and they only do it with international currencies as I have read. We read more banks are getting on and I read a post on IIF from someone that the Iraqi dinar had been on the list of international currencies for the last month only with the same rate??

We see the big business people from kuwait and Saudi lining up. This is a very good sign. Investors don't like to wait unnecessary and want to boost their own pockets.

Maybe we have to wait two more weeks but I don't think any longer. Remember the high inflation that can't keep going on.

Hang in there all of you, because our lives are going to change!!

Originally Posted by kiko

Hey Rolls, first of all thanks for your great info. Please keep us informed.

The way I see it, it is an old article and the printing is related to the program. If I read it right. There are now 9 in circulation and 5 "somewhere"!!

In my opinion this has nothing to do with a new currency but just steps that the CBI has taken or must taken according the program.

Humm . . . yeah but it states "They highlighted a series of steps that have already been taken, including:

• Establishing the Central Bank’s independence from the Ministry of Finance

• Training 70% of the bank’s staff on international best
practices

• Printing a series of 14 new Iraqi Dinar notes and coins