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

Hey people,

CBI, Stands for Central Bank Of Iraq. Who said they could not sell to the public!
They sell at the auctions don't they so why can't they sell to whom every walks through those doors and wants to buy some. I would!

Originally Posted by Alphamystic

I think some might be down-playing the round so as not to get thier hope up too much.

I know I am. I've had the wind knocked out of me so many times in the last 2+
years my Solar Plexus is getting sore.

Posted on Sunday, November 05 @ 08:46:54 PST
Topic: Oil
Secretary of State Condoleezza Rice predicted Iraqis will divide control of the country's oil revenue along regional lines while retaining a central government to maintain political unity.
``They are not going to have such a centralized system with the use of that resource, and that's probably a good thing because we do know also that a centralized system around oil tends to produce corruption,'' Rice said today in an interview with ``Political Capital With Al Hunt'' to air this weekend on Bloomberg Television.

Iraqis ``are likely to come up with a system that may be superior to many that are used in the Middle East,'' Rice said at the State Department in Washington.

Rice's comments came as the Iraqi parliament is weighing a law to regulate the country's oil and gas industry, which she said would serve as a ``source of political unity.'' A provision of Iraq's constitution calls for sharing oil revenue ``compatible with the demographic distribution'' of the country.

The oil strategy outlined by Rice suggests a change in U.S. policy, according to Kenneth Katzman, a Middle East analyst for the nonpartisan Congressional Research Service in Washington. Up until now, ``the U.S. policy has been for a strong unified central government,'' Katzman said. ``These remarks would appear to lean more toward those advocating regional autonomy.''

While Rice encouraged oil-money sharing, she rejected calls by some U.S. politicians for Iraq to be partitioned along sectarian lines. ``Most of them are not Iraqis who are saying that,'' Rice said.

Source: Bloomberg

here is a thought that some might appreciate....with all the added security already in place in the "hot zones" then maybe now is the time for a r/v...and pass out the 10,000 dinar at the banks etc......just wondering if the iraq gov. is set up to help venders with pricing lists of goods and services...

I spent about 6 months in the green zone. The CBI is located inside the green zone and the Al-Rasheed Bank is located within the same buiding. I have bought dinars from the Al Rasheed bank. I do not believe the CBI sells dinars to the general public, but you can go into the AL Rasheed bank a couple of hundred feet away and buy dinars. I hope this clears up any confusion about this latest rumor.
Oh i've reading this form for a couple of months but have been on this ride for almost 2 yrs.
And this is my first post. Hiope it helps.

Cheers

Originally Posted by Jola

Did you see this?

LawkSalih.Com - Government committed to adopting free market policy

Iraq: Government committed to adopting free market policy
Posted on Sunday, November 05 @ 08:50:19 PST
Topic: Iraq
The economic achievement in Iraq is often ignored, overshadowed by the violence in the country, Iraqi and American officials said. “The economic team has made significant progress,”said US deputy secretary of treasury Robert Kimmit who was in Kuwait for the International Compact for Iraq meeting. “They have stable currency, they have sizable foreign currency reserves, there are almost back up to pre-war level oil production, and they are able to finance a considerable part of their own government operations,” he told reporters at a conference late Tuesday.

There remains a gap on Iraqis resources however with what the country needs, which is why the government is calling for international support in its Iraq compact. The Iraqi government outlined its economic strategy to put forward, that is hoped to primarily diversify the country’s economy and decrease its reliance on oil. “Agricultural horizons are very promising but we are encountering impediments which need huge investments to overcome. We have been facing the problem of water supplies with our neighbours,” said its Minister of Planning and Development Cooperation Ali Baban.

Iraq however stressed that it will not go back to subsidies policy and will continue to keep its economic sectors “open”. But Iraq also will not expedite privatizations of its industries despite the government’s leaning towards an open economy. “We should not rush as some negative results may accompany any unplanned privatization process,” he said. The government is studying plans to privatize state factories, but most of the factories depend on costly government assistance, and recent move of “keeping the import door open” and without regulations and restrictions has put an end to many factories, he said.

While the Iraqi government remained committed to adopting free market policy, Baban said the removal of subsidies and facilities have hurt the agricultural and industrial sectors. To strengthen the industries, the government is asking the private sector firms to merge. “Many of the private factories are still small and cannot do the required task .. . we are trying hard to urge the Iraqi businessmen to merge their companies and establish big ones,” he said.

The government also believes that merging Iraqi small banks into big banks is necessary. It currently has 25 private banks. “Our idea is to have some kind of minimum capital for banks, to at least 20 billion Iraqi dinar. Some of the very small banks that do not have the capacity will have to merge, or otherwise they would have to raise the capital alone,” he said. The country also has six state-owned banks, the biggest of which are Rafidain and al Rasheed Banks.

Iraqi central bank is also trying to get private banks to participate more in the country’s economic activities, and for Iraq 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 to provide trade finance services Iraqi banks are unable to offer. “We would like government’s import activities to be more diversified. We want all banks to participate, this is our policy in the future. Trade Bank is doing fine, but we don’t 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 interest rate and we sell our own bills to skim liquidity. The inflation rate now is at 51 per cent, down from 70 per cent previously. Whether it will continue to go down, we will have to see,” said al Shabibi. The Iraqi government has given out six licenses to foreign banks in 2004, including to National Bank of Kuwait, Arab Banking Corp, HSBC and Standard Chartered. Only Arab Banking Corp operates a full-fledged branch in the country; the others opted to enter Iraq via a local partner.

Sounds good to me

Originally Posted by Lakeway

I didnt raise any flags. It always exites me to her anything positive.

I spent 22 months in IRAQ after I got out of the military. I bought most of my DINARS from the locals. I realize you can buy DINAR in IRAQ. The question I have is can you buy it directly from the CBI.

FSN I wan't knocking your post. I appreciate it. i want to hear everything no matter how small it is or whether you believe it or not. So thanks to you.

When my friend gets back into cell phone range or gets home tonight, I will call back and make sure that he said CBI. Then we can put it to rest, unless of coarse its already on the Austrailian forex.

a new round between Iraq and Kuwait to resolve the issue of border





تشمل مناقشة الجانب الأمني والحقول النفطية المشتركةInclude discussion of the security and joint oil fields
بغداد - البصرة - الصباح Baghdad-Basra-Sabah
تبدأ خلال الايام القليلة المقبلة جولة جديدة من المفاوضات الحدودية بين الحكومتين العراقية والكويتية.Beginning in the next few days a new round of border negotiations between the governments of Iraq and Kuwait. وقال وكيل وزير الخارجية محمد الحاج حمود الذي سيرأس وفد العراق المفاوض: ان الجولة الجديدة مكملة للجولة الاولى التي جرت بداية السنة الحالية، مبينا ان الوفد العراقي سيضم ممثلين عن مجلس الوزراء والداخلية والنفط والهيئة العامة للمساحة فضلا عن ممثل محافظة البصرة.He said Deputy Foreign Minister Mohammed al-Haj Hammoud, who headed the Iraqi delegation negotiator : to complement the new round of the first round that took place the beginning of the current year, noting that the Iraqi delegation would include representatives from the Council of Ministers and the Interior and the oil and the Public Authority for the area as well as the representative of Basra Governorate.

واضاف حمود في تصريح خاص لـ(الصباح) انه ستتم مناقشة عدة نقاط تتعلق بالجوانب الامنية والحقول النفطية المشتركة وقضية التعويضات المادية للعراقيين المتضررين ممن يسكنون عند الحدود الفاصلة.Hammoud added in a statement to Al (morning) will be discussed several points related to security and oil fields and the common cause material damages to the Iraqis who live in the affected border. واشار وكيل الوزارة الى ان الجانب الكويتي ابدى مرونة عالية في المفاوضات خلال الجولة الاولى كما اكد انه مستعد لتقديم كل الدعم للاسراع في حل قضية الحدود لان العراق والكويت يرتبطان منذ القدم باواصر الاخوة والنسب والمحبة.The undersecretary of the ministry to the Kuwaiti side was highly flexible in the negotiations during the first round and stressed that he is ready to provide all support to expedite the resolution of the border issue because Iraq and Kuwait are linked since ancient ties of brotherhood and kinship and love. واكد حمود ان مجلس الوزراء شكل لجنة برئاسة نائب رئيس الوزراء الدكتور برهم صالح للتحاور والتفاوض بما يخص التعويضات المادية التي تطالب بها الكويت جراء العدوان الصدامي عليها.Hammoud stressed that the Council of Ministers formed a committee headed by Deputy Prime Minister Barham Salih to dialogue and negotiation, including the material reparations demanded by Kuwait because of the aggression by Saddam.

What stage would you say we're in?

Victory in Iraq is Defined in Stages
Short term, Iraq is making steady progress in fighting terrorists, meeting political milestones, building democratic institutions, and standing up security forces.
Medium term, Iraq is in the lead defeating terrorists and providing its own security, with a fully constitutional government in place, and on its way to achieving its economic potential.
Longer term, Iraq is peaceful, united, stable, and secure, well integrated into the international community, and a full partner in the global war on terrorism.



National Strategy for Victory in Iraq

PARIS - Iraq's president, whose office must ratify the death penalty sentence against Saddam Hussein if it's upheld on appeal, said Sunday that the trial against the ousted Iraqi leader was fair.

But Jalal Talabani would not comment on the guilty verdict or death sentence for fear it could inflame tensions in his volatile nation.

"I think the trial was fair," the president told The Associated Press at his deluxe Paris hotel, where he watched the proceedings live on television. "Those people had the full right to say what they intended."