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

Originally Posted by warrior44

i'm sorry, but is this 0.31 cents to the usd? or as you stated 1/3 dinar to a dollar or over a $3.00 usd rate? i'm not quit sure how to read this!!!! :

Just to say my opinion: I would never believe a reval at $3 for one dinar will happen. While I would certainly love to cash in at that rate, I just feel it is too much...

I take it more as 1 dinar = 31 cents, so it would be the other way around: 3 dinars for one dollar - to begin with...and maybe the rate will raise from there up...

Do you guys believe that the dinar will jump from 1460 for one dollar to 3 dollars for one dinar?

I guess that is hard to swallow by their neighbors...and others, including US...especially with the US dollar situation right now on the market...JMO...but as I said...what do I know?

Originally Posted by CharmedPiper

Bank officials to attend key forum

13 November 2006 (Gulf Daily News)

Sixteen high-ranking officials from Central Bank of Iraq (CBI) are to attend five-day training programme on banking supervision in Bahrain, starting tomorrow. The five-day programme is being conducted by the Bahrain Institute of Banking & Finance (BIBF) in co-operation with the International Monetary Fund (IMF) and Federal Reserve Bank of New York (Fed NY) .

The workshop, at the BIBF premises in Juffair, will be conducted by a team of international experts from the IMF and Fed NY.

BIBF was selected to host this important workshop because of Bahrain's excellent reputation as a leading world financial hub and the Institute's ability to provide world-class training and business advisory services, said BIBF deputy director and head of Banking Learning Centre, Hussain Ismail.

For the last two-and-a-half years, the IMF and the Fed NY have co-ordinated their efforts to provide technical assistance to the CBI to help in the reconstruction and development of the Iraqi economy.

A comprehensive initial training curriculum was defined and has been implemented between 2004 and early this year for staff of the CBI's Banking Supervision Department (BSD) and a series of joint workshops were delivered, covering all key banking supervisory issues.

The workshop in Bahrain is the first in a new series of training programmes. It will be focusing on the practical implementation in the field of banking supervision as well as reviewing the actual work and outputs produced by the Iraqi supervisors, in order to give them feedback and guidance on how to improve their scope and their quality, both for off-site and on-site supervision.

"This programme is part of a series of successful workshops, which will further contribute to the training and education process of the Iraqi people," said Mr Ismail.

Another workshop on banking supervision was conducted successfully at the BIBF in June 2004.

Maybe they should attend the RolClub Forum!!

Voices of Iraq :-$ (economy)

Books : dhrgham on Tuesday, November 14, 2006-11:58 AM BT

The exchange rate depreciation of the dollar in a single
Dargham of Muhammad Ali
Baghdad - (Voices of Iraq)
Decreased demand for the dollar purchase auction in the Central Bank at a meeting today, Tuesday, recording 62 million and 540 thousand dollars against 110 million yesterday.
Such procurement requests today between 32 million and 910 thousand dollars in cash, and 29 million and 630 thousand dollars in the form of remittances outside the bank full coverage at the exchange rate is the lowest of dollars during more than a year reached 1460 dinars, , down five points from yesterday's meeting.
This is the largest decline in the exchange rate seen in the auction, one meeting has absolutely did not ask any of the 16 banks participating in the auction, offers to sell the dollar.
He said the Yasiri, owner of the banking News Agency (Voices of Iraq) Independent that the bank cut prices five points in an attempt to increase its sales of dollars in cash hand for the withdrawal of more liquidity in the local plan to reduce inflation, and not compel banks to sell the dollar for the bank in the auction, on the other hand, because that will give greater liquidity of the local market.
H M

Originally Posted by Jola

Maybe they should attend the RolClub Forum!!

I belive they already have!

Originally Posted by Wm.Knowles

Ref CBI Auction.

So we have another auction where the CBI removed slightly less than 100 Billion dinar from the economy. Over 60 Million USD. This auction continues a trend were the CBI is removing dinar from the economy at a slightly higher exchange rate. They, like us are attemping to reduce the quanitiy of money at a cheaper rate. (wouldn't you do the same?) their actions remind me of an anology. Like a train leaving the station. This train has started and is moving, but it hasn't left the station. Its still in sight. But like a train, an economy (if managed right and this one is) gathers steam. Until, its moving at full speed. This week will continue to be very interesting short term period as we develop a trend as to what the CBI is doing. Removing currency from the economy is not an unending process. There are finite limitations and those can be obtained in a relatively short period. It is apparent that they have decided, to accomplish this reduction of the quanity of the base money supply in a short period. But there are other factors at play. In an inflationary situation, the rise in Gross National Product (GNP) will absorb excess money in the economy. This is a tactic that the US has used. The economy grows and aborbs excess money and eventually inflation decreases. So with an expanding economy and an apparent reduction in the money supply by the CBI, you have a combination of effective forces that will reduce inflation, demonstrate monetary responsibility, and result in a currency that increases in value. The economic fundamentals are excellent. It will not be long before the strength of the economy, the rise in the value of the dinar will attract the attention of other world banks, international currency trades, and corporations. This week will continue to be very interesting and should be positive for our project.

Hello Wm.Knowles.

Thank you for your nformative posts.

Is it possible that R/V rate will be higher the moore dinars taken out of circulation?

Translated version of http://www.alsabaah.com/

Al-Maliki : the law will determine the powers of the Non governor and the provincial assemblies

He said that some district councils exceeded its powers Baghdad-Sabah The Prime Minister Nuri al-Maliki on the need to adopt the principles of efficiency and fairness in the selection of who will fill the positions. He said during his meeting with the governors yesterday to discuss the investment plan : "The phenomenon of administrative corruption and inefficiency is the phenomena exists in the State in spite of a lot of chopping them at various levels." He added : Maliki "We will continue to fight against these phenomena, because we have lists and mechanisms had been introduced to control the corrupters and stand on the limits of corruption" stating : "The governor or the minister responsible to come and efficient when appropriate places himself in the options for a pool of candidates for this position or that." He called for : "that could materialize favoritism or party affiliation and sectarian motive to choose the person least efficient and most efficient dimensions." The Maliki : "he who pays the price is the homeland and the citizen and it should competence and integrity are Mbdaan essential for the government." And on the problems that occur between the district councils and governors because of the powers between Maliki said : "Some of these problems would be normal because we did not act under previous regimes and governments that principle as we do not have boards of provinces and Corrections and we are now in a new Iraq based mainly on the existence of the Constitution, which of the border and powers between all the components of the State's central government and local government." He stressed : "The governor is representing the state, which represents the executive power and consequently, all operational work is the responsibility of the Conservatives and the specialist services of the ministries, while the responsibility of the provincial councils are legislative and regulatory authorities in connection with the affairs of maintaining that it had the authority to control and the vote on the Almchari p presented from the executive authority. " He explained : "Despite some confusion and foggy in the governorates No. 71 because he did not evolutionary enough to organize and clarify the relationship between the governor and provincial council, but I believe that the general line is clear is that the district councils are responsible for implementation of the government, we ask, when we call or go to the governor because it represents the power Walton Vithia in the province, we have indicate that the official wrote to the governors and provincial assemblies. " And on the powers of appointment Maliki said : "There is a document that shows the power of appointment and the separation of the two directors of health and education but some district councils and governors intervened and exceeded their powers and become involved in the appointment of commander of the division despite the fact that the Council of Ministers is entitled to keep his appointment only after permission from the parliament." And : "Once it is passed, the law of the provinces by the House of Representatives will be eligible and determine the specific mechanisms of action the governor and the provincial assemblies and then ending the ambiguity and overlap in the terms of reference." And on security issues in the governorates of Al-Maliki : "The Emergency Law taken to facilitate movement in the face of challenges as it freezes some of the decisions and to take other actions necessary in the security phase, when they take such actions does not mean that it confiscation of the role of the governor or the Board is only part of the security on which facilitates the movement of the security and facilitate the process of addressing Alash The J we require in Basra and Anbar and the possible need in architecture or Diyala. " He continued : "It emergencies evidence that the Emergency Law is a monthly extend If no need to preclude the need for the existence of when we talk about a federal Vdraliat and we are talking about a united, strong and united people away from misunderstandings of the meaning of regions and provinces." The Maliki : "We must work to consolidate the rule of law and the Constitution, this Constitution may be some input might not beside me or support any but the obligation is for the benefit of the nation and people, and when the well-being of the nation and the people and achieve stability, I beneficiary." A : "The stability of the country achieve our dignity and pride better than to be pursued and PHARE" Citizen : "displacement that occurs in most areas of Iraq." He pointed out : "It may be morbid phenomena is the result of what passed by Iraq under dictatorial regimes may be the transformation of the Constitution difficult but we have to resign ourselves and give a model to the Iraqis that the Constitution is above all because it regulates all social relations, political and economic If renounced the commitment to the Constitution is not e Nak interest to anyone. " His Maliki : "to imagine any one, whether a party or entity or community to benefit from a state of chaos is not the Constitution governing relations between the others." A : "The amended clause of the Constitution that enables us to avoid shortages and imbalances that we have suffered during the last period where all the constitutions paragraphs transition and related amendment which can be the gate to get more committed to the Constitution.

Central Bank to adopt new policy to end inflations' rates

Baghdad, Nov. 14, P3

An official source at the Central Bank of Iraq said: the inflation in Iraqi economy which negatively effected with the security circumstances is resulting due to the

show congestion in the real sector which concentrating in supplying fuel and its negative reflections on transport and communications' charges, while the other reason is belonging to the large effect for the total demand on commodities and services in economy.

Originally Posted by Jola

Just to say my opinion: I would never believe a reval at $3 for one dinar will happen. While I would certainly love to cash in at that rate, I just feel it is too much...

I take it more as 1 dinar = 31 cents, so it would be the other way around: 3 dinars for one dollar - to begin with...and maybe the rate will raise from there up...

Do you guys believe that the dinar will jump from 1460 for one dollar to 3 dollars for one dinar?

I guess that is hard to swallow by their neighbors...and others, including US...especially with the US dollar situation right now on the market...JMO...but as I said...what do I know?

If it r/v at $3 or it r/v 31 cent. we would anyhow make a ****load of money, won't we?

Cabinet includes retirees in residential lands


Baghdad, Nov. 14, P. 1

The Council of Ministers decided inclusion of retirees in law of residential lands distribution, Abdulridha Alhfadhi head of humanitarian society of retirees said.

He added that the society made every effort to include this large section in the law, mentioned that Council of Ministers suggested making of law as soon as possible.It is worth mentioning that Finance Ministry included the retirees in loans of real estate bank

Ok, there is a new rumor from the other forum about Egypt black market buying dinars for $ 0.50.

I thought I post it because after all some rumors can be true.

I posted this one in the rumor section or else Neno and all other mod will be mad at me.

Please discuss it there if you want to discuss.

Here is the link: http://www.rolclub.com/rumors-predic...tml#post135335