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

Originally Posted by MrsCK

Look at this ISX site the ticker on the top says ISX OPENS NOV. 7th.

Aman Link

Unless they never update - I would think 2006

MrsCK,
Sure is looking good. For the next few days. HMMMMMM.
WOO HOO.
LIT

Foreign banks in Iraq soon

The central bank of Iraq is considering licensing several foreign banks to operate within the country, mostly in the region of Kurdistan, Sinan Al Shabibi, the bank's governor, said yesterday.

"There have been some applications to operate in northern region of Kurdistan, but their eyes are on Baghdad eventually," Al Shabibi told Zawya Dow Jones in an interview.

Al Shabibi said that the bank is considering several Turkish and Lebanese banks, but declined to disclose the names of the banks.
The Iraqi government licensed six foreign banks in 2004, including the National Bank of Kuwait, Arab Banking Corp., HSBC and Standard Chartered.
However, only Arab Banking Corp. operates a fully-fledged branch in the country as the rest chose to enter Iraq via a local partner.

"Because of the security situation, most join forces with local banks. There are a lot of banks that have expressed their interest Iraq, but they are waiting for the right time," said Al Shabibi.
The country also has six state-owned banks, the biggest of which are Rafidain and al Rasheed.

Al Shabibi hopes that Iraq's banking sector will be strengthened as it opens up to foreign banks, as they bring capital, modern banking systems, technology and management.

The government is also pushing for 25 private banks to merge.
"Our idea is to have some kind of minimum capital for banks, at least 20 billion Iraqi dinars. Some of the very small banks which do not have the capacity will have to merge, otherwise they will have to raise the capital alone," he said.

The central bank wants private banks to participate more in the country's economic activities, and for the country to be less dependent on the Trade Bank of Iraq, which is financed by a consortium of foreign lenders such as Citigroup and JP Morgan. It provides financing services Iraqi banks are unable to offer.

"We would like the government's import activities to be more diversified. We want all banks to participate. This is our policy for the future. The Trade Bank is doing fine, but we don't want to have to be completely dependent on that," he said.

Al Shabibi said the central bank is currently succeeding in its fight against inflation.
"We are using the interest rate and we sell our own bills to skim liquidity. The inflation rate now is 51 per cent, down from 70 per cent previously. Whether it will continue to go down, we will have to see," he said.

Originally Posted by CharmedPiper

I am sure somebody has probably already posted this at one point but sometimes when we translate from arabic to english using system translator the word kofer etc. comes up. I ran across this today while looking for something else but could be what that little glitch word is. Again, I am sure somebody has already found this before but if not here it is.


Currency Composition of Official Foreign Exchange Reserves (COFER)
(From IMF website)

Thanks for a new "google name"- have read this before but since it does go to the IMF link and phiberoptixs is our FAMILY MEMBER with a PERSONAL introduction as of this morning with the IMF - maybe he could make another call

Foreign banks in Iraq soon

The central bank of Iraq is considering licensing several foreign banks to operate within the country, mostly in the region of Kurdistan, Sinan Al Shabibi, the bank's governor, said yesterday.

"There have been some applications to operate in northern region of Kurdistan, but their eyes are on Baghdad eventually," Al Shabibi told Zawya Dow Jones in an interview.

Al Shabibi said that the bank is considering several Turkish and Lebanese banks, but declined to disclose the names of the banks.
The Iraqi government licensed six foreign banks in 2004, including the National Bank of Kuwait, Arab Banking Corp., HSBC and Standard Chartered.
However, only Arab Banking Corp. operates a fully-fledged branch in the country as the rest chose to enter Iraq via a local partner.

"Because of the security situation, most join forces with local banks. There are a lot of banks that have expressed their interest Iraq, but they are waiting for the right time," said Al Shabibi.
The country also has six state-owned banks, the biggest of which are Rafidain and al Rasheed.

Al Shabibi hopes that Iraq's banking sector will be strengthened as it opens up to foreign banks, as they bring capital, modern banking systems, technology and management.

The government is also pushing for 25 private banks to merge.
"Our idea is to have some kind of minimum capital for banks, at least 20 billion Iraqi dinars. Some of the very small banks which do not have the capacity will have to merge, otherwise they will have to raise the capital alone," he said.

The central bank wants private banks to participate more in the country's economic activities, and for the country to be less dependent on the Trade Bank of Iraq, which is financed by a consortium of foreign lenders such as Citigroup and JP Morgan. It provides financing services Iraqi banks are unable to offer.

"We would like the government's import activities to be more diversified. We want all banks to participate. This is our policy for the future. The Trade Bank is doing fine, but we don't want to have to be completely dependent on that," he said.

Al Shabibi said the central bank is currently succeeding in its fight against inflation.
"We are using the interest rate and we sell our own bills to skim liquidity. The inflation rate now is 51 per cent, down from 70 per cent previously. Whether it will continue to go down, we will have to see," he said.

Here it is guys, with the ISX date.


1. October 15th. 3 year anniversery of the New Iraqi Dinar.
2. October 19th. Religious leaders meet in Mecca to endorse a call for an end to all sectarian bloodshed
3. October 24th. End of Ramadan.
4. October 30-31. IAMB meeting. (Article V111 done and dusted?)
5. End of October. ICBG to launch by end of October.
6. FIL passed 10 October, we were told it would take a month to be officially enacted, so we're looking at around 7/11 for announcement in the Gazette.
7. Week beginning 6 November, distribution of ration cards........
8. Rumour of BoA selling dinars from 13/11, we were told they'd only be dealing with dinars once it was 'trading' internationally........
9. Mid/End of November. International Compact for Iraq signed, sealed and delivered. Hopefully debt forgiveness by Saudi and Kuwait as well.
10. December ?. DFI is turned over to the GOI.
11. December 31 end of year 1345 IQD to 1 USD CBI/IMF projection achieved.
12. Jan 1st. Beginning of a new fiscal year.
13. March 22, 2007. Iraq's IMF Stand-By Arrangement expires
14. 2008. Iraq begins making large IMF fund payments.

Wardy was discussing this elsewhere. Checkout the value at the bottom of page 1!!!!! WOOOTTTTTT, 4 years ago, that's all. Who's ready to be rich?!

Translated version of http://www.cbiraq.org/Binder12.pdf

Originally Posted by Adster

Wardy was discussing this elsewhere. Checkout the value at the bottom of page 1!!!!! WOOOTTTTTT, 4 years ago, that's all. Who's ready to be rich?!

Translated version of http://www.cbiraq.org/Binder12.pdf

Am I reading it right?!? 3.2169!?!

Originally Posted by Adster

Wardy was discussing this elsewhere. Checkout the value at the bottom of page 1!!!!! WOOOTTTTTT, 4 years ago, that's all. Who's ready to be rich?!

Translated version of http://www.cbiraq.org/Binder12.pdf

My employer has put a block on that. Can someone post it for me? Thank you

Foreign banks in Iraq soonThe central bank of Iraq is considering licensing several foreign banks to operate within the country, mostly in the region of Kurdistan, Sinan Al Shabibi, the bank's governor, said yesterday.

"There have been some applications to operate in northern region of Kurdistan, but their eyes are on Baghdad eventually," Al Shabibi told Zawya Dow Jones in an interview.

Al Shabibi said that the bank is considering several Turkish and Lebanese banks, but declined to disclose the names of the banks.
The Iraqi government licensed six foreign banks in 2004, including the National Bank of Kuwait, Arab Banking Corp., HSBC and Standard Chartered.
However, only Arab Banking Corp. operates a fully-fledged branch in the country as the rest chose to enter Iraq via a local partner.

"Because of the security situation, most join forces with local banks. There are a lot of banks that have expressed their interest Iraq, but they are waiting for the right time," said Al Shabibi.
The country also has six state-owned banks, the biggest of which are Rafidain and al Rasheed.

Al Shabibi hopes that Iraq's banking sector will be strengthened as it opens up to foreign banks, as they bring capital, modern banking systems, technology and management.

The government is also pushing for 25 private banks to merge.
"Our idea is to have some kind of minimum capital for banks, at least 20 billion Iraqi dinars. Some of the very small banks which do not have the capacity will have to merge, otherwise they will have to raise the capital alone," he said.

The central bank wants private banks to participate more in the country's economic activities, and for the country to be less dependent on the Trade Bank of Iraq, which is financed by a consortium of foreign lenders such as Citigroup and JP Morgan. It provides financing services Iraqi banks are unable to offer.

"We would like the government's import activities to be more diversified. We want all banks to participate. This is our policy for the future. The Trade Bank is doing fine, but we don't want to have to be completely dependent on that," he said.

Al Shabibi said the central bank is currently succeeding in its fight against inflation.
"We are using the interest rate and we sell our own bills to skim liquidity. The inflation rate now is 51 per cent, down from 70 per cent previously. Whether it will continue to go down, we will have to see," he said.

LINK

7-8 November 2006 in Switzerland
This is what made me go hmmmmm Sir Andrew Crockett, President, J.P. Morgan Chase International. Wonder what he will be talking about????

Just another HMMMMMMMMMMMMMMM