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

Originally Posted by shotgunsusie

from baghdad, word is they have seen nothing of the cheques or heard anything other than the fact they understand they are to get a piece of paper they can redeem for the cheques at the appropriate time. they are currently unaware of where that piece of paper is coming from or when.

I'll bet ya it winds up being a bank card or debit card...

did i mention its nice to know ya? it is.........

ISF shuts down Insurgent Financial Operation
Multi-National Corps – Iraq PAO

BAGHDAD — Local police, supported by special Iraqi Army forces, conducted a raid Oct. 9 in Tikrit against a local hawala allegedly used by individuals and businesses to provide financial support to insurgent groups and detained 16 individuals.

The hawala, a local financial system for banking and money exchange, was allegedly being used by insurgents and criminals to hide money made through illegal activity and illegally funneled into Iraq. The daylight raid was based on tips from Iraqi citizens.

Iraqi Police and Army forces, with coalition advisers, shut down the suspected illegal financial activity which was directly supporting foreign fighters and the ongoing insurgency. This support was directly responsible for attacks targeting Iraqi civilians as well as Iraqi Security and Coalition forces.

No significant damage was done in the area and there were no civilian, Iraqi Force or ground forces casualties.

This operation is an example of the resolve of Iraqi citizens to stop the illegal and violent activity bringing harm to their communities and demonstrates the increased ability of the Iraqi Security Force to target and combat insurgent activity.

Originally Posted by DinarLady

Had to delete as I didn't know I was logged in under husband's screen name. Here is the repost under my name.

Called my local bank here in Honolulu which B of A services their foreign currency and they are still selling. Rate today is same as last week .000772 sell/.000614 buy. I asked him how they would verify my bills if and when I wanted to exchange my dinar for dollars and he said they would just match it to the book. I told him my concerns about my money leaving my hands without officially being verified/authenticated by machine/light or whatever it is they will ultimately use to verify the IQD and he said his manager would call me. I had told him I would like to request they obtain whatever device they need to verify the authenticity of the IQD and I would want that done at the time of exchanging into dollars. He understood and again, said that he would have the international banking manager call me. I'll let you know what he says when/if I hear from him. If not, I will certaintly follow up as this is a concern I have should the rate be substantial. I don't want anyone coming back after the fact when they've sent the bills to B of A who services them and I receive a call telling me they weren't authentic (counterfieits) and I'm out millions of dollars. Not being paraniod, just preparing for the big day. I can not drive anywhere to authenticate as I live on an island and would have to fly or mail my dinar and meet it wherever I send it. Still too risky for me. Thanks for listening. Any thoughts?

your Island is better than Alaska ...we have one bank one branch and they say they well never trade as we are at war with Iraq and they would be breaking the law ... dumb bunnies

Odd....They aren't listing the Iraqi Press on the Iraqi Government site like they usually do.

Translated version of http://www.iraqigovernment.org/

Cheers!
DayDream

Originally Posted by PAn8tv

ISF shuts down Insurgent Financial Operation
Multi-National Corps – Iraq PAO

BAGHDAD — Local police, supported by special Iraqi Army forces, conducted a raid Oct. 9 in Tikrit against a local hawala allegedly used by individuals and businesses to provide financial support to insurgent groups and detained 16 individuals.

The hawala, a local financial system for banking and money exchange, was allegedly being used by insurgents and criminals to hide money made through illegal activity and illegally funneled into Iraq. The daylight raid was based on tips from Iraqi citizens.

Iraqi Police and Army forces, with coalition advisers, shut down the suspected illegal financial activity which was directly supporting foreign fighters and the ongoing insurgency. This support was directly responsible for attacks targeting Iraqi civilians as well as Iraqi Security and Coalition forces.

No significant damage was done in the area and there were no civilian, Iraqi Force or ground forces casualties.

This operation is an example of the resolve of Iraqi citizens to stop the illegal and violent activity bringing harm to their communities and demonstrates the increased ability of the Iraqi Security Force to target and combat insurgent activity.

Great Find!!!!

Always nice to see the Iraqi Special Forces doing some good field work!!!!!

Give us the money back

Originally Posted by shotgunsusie

did you happen to ask the iif people whatever they would want international banks for in iraq when their currency isnt supposed to be ready to trade internationally for a couple more years???

I'm quite sure it's being traded, for quite awhile now. How else can there be remittances resulting in USD being transferred abroad.

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[QUOTE="GK";137104]I'm quite sure it's being traded, for quite awhile now. How else can there be remittances resulting in USD being transferred abroad.[/QUOTE]
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sorry, you know how i cant resist bein a smart arse! [/SIZE]

Originally Posted by PAn8tv

Originally Posted by PAn8tv
ISF shuts down Insurgent Financial Operation
Multi-National Corps – Iraq PAO

BAGHDAD — Local police, supported by special Iraqi Army forces, conducted a raid Oct. 9 in Tikrit against a local hawala allegedly used by individuals and businesses to provide financial support to insurgent groups and detained 16 individuals.

The hawala, a local financial system for banking and money exchange, was allegedly being used by insurgents and criminals to hide money made through illegal activity and illegally funneled into Iraq. The daylight raid was based on tips from Iraqi citizens.

Iraqi Police and Army forces, with coalition advisers, shut down the suspected illegal financial activity which was directly supporting foreign fighters and the ongoing insurgency. This support was directly responsible for attacks targeting Iraqi civilians as well as Iraqi Security and Coalition forces.

No significant damage was done in the area and there were no civilian, Iraqi Force or ground forces casualties.

This operation is an example of the resolve of Iraqi citizens to stop the illegal and violent activity bringing harm to their communities and demonstrates the increased ability of the Iraqi Security Force to target and combat insurgent activity.

This is very encouraging! In Saddams hometown no less! The sooner the citizens of Iraq realize their future is in their own hands the sooner they'll enjoy a life of freedom and prosperity.

Originally Posted by "GK"

I'm quite sure it's being traded, for quite awhile now. How else can there be remittances resulting in USD being transferred abroad.

Back in 2004...

"During the previous regime, Iraq’s private banks controlled less than eight percent of total banking assets and offered very limited services. Under the new Banking Law, 10 of Iraq’s 17 private banks are already making international payments and remittances, and issuing letters of credit. International payments and remittances into Iraq are now roughly estimated at more than $5 million per day."

Think about that sentence in bold for a sec - "remittances into Iraq"
Now if these remittances were in USD or foreign currencies, they wouldn't need to exchange NID for USD. It should be the other way around; the banks exchanging those USD or foreign currencies for the IQD. Like I said before, it seems like IQD is being transferred bank to bank into IRaq from overseas, and in-turn the banks in IRaq send the equivalent amount in USD overseas. That's the straight dope!