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

Originally Posted by Trapper t

Adster, Do you no of anyone that is holding any of the 50,250,500 dinar notes? I seen them on the CBI website they need even lower denoms before the reval don't you think?

i hold all of the above

Originally Posted by Christmas1971

so what does this means?

J/K Christmas1971


ok here are four highlights from said artical

establishing partnership with the international community

economy open to the world

encourage investment

aplication of investment law

we are on the home stretch people!!!



any questions

Al-Maliki addresses allies who left government to protest Bush summit

BAGHDAD, Iraq - Prime Minister Nouri al-Maliki called Thursday on lawmakers and cabinet ministers loyal to anti-American cleric Muqtada al-Sadr to end their boycott of the parliament and government.

Addressing a news conference on his return to Baghdad from a two-day visit to neighboring Jordan, where he met with President Bush and King Abdullah II, al-Maliki said: "I hope they reconsider their decision, because it doesn't constitute a positive development in the political process."

The Sadrists, who have 30 lawmakers and five Cabinet ministers, said Wednesday their boycott was called to protest al-Maliki's meeting with Bush.

The Sadrists had threatened to quit the government and parliament if the meeting went ahead, but only said they were suspending their participation when they announced their decision Wednesday, suggesting they wanted to leave the door open for their return.

A senior Sadrist legislator, Baha al-Aaraji, said Thursday that al-Sadr supporters would end their boycott when there is an increase in what he termed well-trained Iraqi security forces and the government ends the chronic shortages of basic services like electricity and fuel.

"Political partnership means commitment," al-Maliki said, addressing his Sadrist allies, whom he advised to use constitutional channels to air their grievances.

PM reluctant to act against Mahdi Army
The Sadrists were crucial to al-Maliki's election to his job earlier this year, something that is reflected in al-Maliki's reluctance to comply with repeated U.S. demands that he moves to disband the Mahdi Army, a Shiite militia run by al-Sadr and blamed for much of the sectarian violence tearing Iraq apart.

Al-Maliki pledged again to act against illegal armed groups in his Thursday news conference, but without naming the Mahdi Army or citing specific actions.

He said he has reassured Bush in their meeting of "the government's resolve to impose the government's authority, bring stability, hold to account outlaws and limit the possession of arms to the hands of the government."

He also pledged to deal harshly with those who "endanger Iraqi lives regardless of their identity and affiliation," a clear reference to militias.

He said he was determined to ensure that Iraq's security forces have the weapons and the training needed for them to be more capable on the battlefield.

"One of the government's tasks is to supply the weapons, training and the required personnel to build the Iraqi forces. We mean by arming, the weapons fit to fight the terrorists ... the light and effective weapons, vehicles, armor vehicles and helicopters that will be active in the next phase in the fight against the terrorists," he said.

Iraq PM asks al-Sadr bloc to end boycott - Conflict in Iraq - MSNBC.com

Originally Posted by $onedaysoon$

الاقتصادية : هل سيتم استبدال نظام البطاقة التموينية ببرامج اجتماعية وتوظيف للعاطلين ؟Economic : Will there be a replacement ration card system, social programs and the employment of the unemployed?



Draft International Covenant with Iraq stressed the cancellation of all types of government support for the advancement of economic
بغداد ـ حيدر الربيعيBaghdad Haider spring
The International Covenant has been drafted with Iraq from the Iraqi side submitted to the preparatory conference that was held recently in Kuwait and is aimed at establishing a new partnership with the international community and to achieve the aspirations of the people in all areas of social security, or both

Or economic thing, which will focus on in this report, . Put several of the points, which was considered futuristic visions (draft) would revitalize the Iraqi economy and infrastructure development so that it can promote and contribute effectively to the improvement of living conditions for all segments of society to contribute to the provision of the requirements of sustainable development according to market factors. as well as creating an economy open to the world and integrated with the rest of the economies in the region, especially the neighboring countries. The draft also pointed out the importance of allowing the private sector to play a leading role in economic activity, with the special role of the government to regulate this activity and protection.
In addition to that document, or (draft) identified the government's program of action on the economic level, through the development of policy initiatives and expanded Chairperson him, in the framework of a focus (economic policies) Chairperson on the sectors that have been identified in the national strategic development, including the management of public resources and the introduction of economic reforms and reforms in the social sector and investment, energy and agriculture.
Economic reform
B]The draft pointed out that the desired goal of this reform is to create an enabling environment for public and private investment, domestic and foreign engine for sustained economic growth, diversified and create jobs, and to create the appropriate conditions to achieve maximum benefit from foreign aid, investment and integration into the global economy.[/b]
In regard to the reform of government support for the draft recommended that the government abolish governmental support programs destruction, which lacks efficiency (in the words of the draft) and in stages, at a time when (the government) to ensure the protection of vulnerable groups through the introduction of all types of financial support in the proposed manner that reflects the full costs and the establishment of a transition from aid to the protection networks target efficient and capable of providing full protection for the vulnerable and poor, with the need for public awareness and consultation to ensure access to broad participation and promote reforms of the government support, as well as the direction of the reform process to support economic diversification.
Confirmed at the same time (the draft) the importance of supporting the petroleum products gradually, in accordance with standby arrangements in a tandem with the development of social protection and other compensation mechanisms.
B]The government is aware of the need to reform the ration-card system in order to improve the effectiveness and equity shares of public resources, but their commitment to support the estimated 25% of Iraqi families that rely heavily on the ration card system. . Therefore, it will replace the ration card system, many of the social services programs, income and employment in particular targeting individuals who do not have the ability to access to the labor market, . In this context, the government will discuss the possibility of introducing the principle oil quota with the International Monetary Fund within the framework of compensation for aid canceled. [/b] The development of the private sector and encourage investment
In this context, the draft has a number of points necessary for the advancement of this vital aspect in the forefront of creating an enabling environment for private investment and job creation and strengthening of the rule of law in commercial and financial activities and the importance of the development of the judicial system and legal possibilities in this area to ensure the protection of private property وح Rmah contracts.
And that the application of the law of investment and the adoption of a new commercial code and its application, in addition to the importance of improving and facilitating the establishment of businesses and employing workers and the registration of ownership and access to loans and dealing with the licensing and cross-border trade and the implementation of contracts with a focus on topics related to quality and opportunities, and simplify entry procedures in the business and exit from the introduction of regulatory reforms, procedural and financial incentives to businesses, in addition to formulating strategic restructuring and privatization of public companies and management on commercial basis, including the establishment of the State Property Fund of the Department of government property on a commercial basis and attract investors and encourage entrepreneurship.
The draft also stressed the importance of finding solutions (to depend on the private sector) to stimulate housing construction, and to improve the availability of funding for private businesses, particularly for small and medium enterprises, including guarantees of funding, , as well as facilitate the allocation of funds to encourage the private sector within the legislation and the rules on public procurement. . It also recommended that accession to the Organization for Economic Cooperation and Development in the Middle East and North Africa.
The draft that of the private sector needs to develop and promote change is to provide appropriate security, the rule of law and the regulatory regime efficient and transparent, State should also provide other public goods necessary for the development of a vibrant private sector including energy, and basic services, The President and infrastructure improvements in human capital through education and training.
اعادة هيكلة القطاع الماليFinancial sector restructuring
..The draft stressed the promotion of public savings and investment, In light of this and in order to create an enabling environment for investment, the government will continue its progress in reforming the financial sector through restructuring government banks and the creation of appropriate conditions for the strengthening of the financial system in Iraq and to increase access to credit by businesses and individuals. as well as creating an enabling environment for the development of the banking sector, the restructuring of private banks, unification, to create space for the banking system in general. In addition to facilitating participation in the accounts of government payments, such as payroll and retirement through private banks. The foundation of electronic payment system

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





PS:

Good find, this could be us above very soon.

Originally Posted by $onedaysoon$

j/k


ok here are four highlights from said artical

establishing partnership with the international community

economy open to the world

encourage investment

aplication of investment law

we are on the home stretch people!!!



any questions

Yea, if that's susie and kiko in the front, who's that behind them?! And do they have rollercoasters in the Caymans?!

I found this regarding New York Federal Reserve but could the 12 noon buying rates be for all foreign currency...I am just trying to see if there is a certain time they customarily release new currency on the exchange....probably a longshot but gave it a try.

Foreign Exchange Rates

Daily 10 am spot rates are midpoints of buying rates and selling rates, and do not necessarily reflect rates at which actual transactions have occurred.

Daily 12 noon buying rates in New York are certified by the New York Federal Reserve Bank for customs purposes.

Originally Posted by Trapper t

Adster, Do you no of anyone that is holding any of the 50,250,500 dinar notes? I seen them on the CBI website they need even lower denoms before the reval don't you think?

I Got them as well as the - 25 , 50 & 100 Dinar Coins;-)

CHECK THIS OUT.....!!!!! I FOUND IT BY ACCIDENT.....

Instructions for Report of Deposits***************************** These instructions are based on the Central Bank of Iraq Reserve Requirements regulation and do not alter the requirements of the regulation.The report of Deposits is required from all branches of foreign banks, in Iraq. All banks must complete and file this report each month no later than the last banking day of the month. The report should reflect the amountsoutstanding at the end of the banking day specified. A bank should provide a consolidated report combining all deposits and allowable deductions for thehead office and all branches in Iraq. An Iraqi branch of a foreign bank should provide a consolidated report combining all deposits and allowabledeductions for all branches of the parent bank in Iraq.Amounts should be rounded and reported to the nearest thousand Iraqidinar.Conversion to Iraqi Dinars Transactions in US dollars must be valued in Iraqi dinars using the exchange rate between US dollars and Iraqidinars established at the auction of the Central Bank of Iraq on the day of thetransaction.

Transactions in other currencies should first be converted into US dollars using the daily buying rate announced at 12 noon on the day ofthe transaction published on the website of the Federal Reserve Bank ofNew York and then converted into Iraqi dinars using the Central Bank ofIraq auction rate .

The website for the Federal Reserve Bank ishttp://www.newyorkfed.org/markets/fxrates/noon.cfmAll deposit accounts with a negative balance at the end of the banking day are to be regarded as having a zero balance for purposes of computing deposit totals.Reporting Period The reporting period for the report (the ReserveCalculation Period) is the four week period ending on the second Thursday before the end of the month. For example, for July 2004 the second Thursday before the end of the month is July 22 and the reporting periodruns Saturday, June 26 to Thursday, July 22. Amounts should be reported for the balance in accounts at the end ofthe banking day on the Thursday of each week of the reporting period. If Thursday is a holiday, report the balance for the previous banking day.
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Page 6
6Account Categories Accounts denominated in Iraqi dinars should bereported in that currency. Accounts denominated in foreign currenciesshould be converted as described above and reported in Iraqi dinars on thereport. Trust funds received or held by the bank that are segregated from its general assets and that are not available for general investment or lending purposes should not be reported as deposits. Current accounts should include both current accounts and accounts of current nature. Other deposits include any debt liability of a bank includingborrowed funds and contingent liabilities such as derivatives contracts thatare not included in any other deposit category on the Report of Deposits. Deductions Deductions should be made for accounts held for other banks, including banks chartered in Iraq and branches of foreign banks located in Iraq. Deductions should be made for checks in the process ofclearance which are deposits recorded on the books of the bank prior to the time the bank receives credit for the check in the clearance process.Vault Cash the balance at the end of the working day of eachThursday in Iraqi dinars and foreign currency converted to Iraqi dinars atrate as announced by FX auction on that date for Dollar.
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7Report of Deposits & vaults cash Four Weeks Ending __________ Thursday of Week One / / DepositsIraqi Dinar DepositsForeign Currency ( in Iraqi dinar )USD=ID Current accounts Savings deposits Fixed deposits Other deposits Total A Deductions Deposits by banks Checks in clearance Total B Reservable DepositsTotal A minus Total B Vault Cash Government deposits Thursday of Week two / / DepositsIraqi Dinar Deposits Foreign Currency( in Iraqi dinar )USD=IDCurrent accounts Savings deposits Fixed deposits Other deposits Total A Deductions Deposits by banks Checks in clearance Total B Reservable DepositsTotal A minus Total B Vault Cash
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8Government deposits Thursday of Week Three / / DepositsIraqi Dinar Deposits ForeignCurrency( in Iraqi dinar )USD=IDCurrent accounts Savings deposits Fixed deposits Other deposits Total A Deductions Deposits by banks Checks in clearance Total B Reservable DepositsTotal A minus Total B Vault Cash Government deposits Thursday of Week Four / / DepositsIraqi Dinar Deposits Foreign currency( in Iraqi dinar )USD=IDCurrent accounts Savings deposits Fixed deposits Other deposits Total A Deductions Deposits by banks Checks in clearance Total B Reservable DepositsTotal A minus Total B Vault Cash
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9Government deposits Reserve Requirement Calculation Reservable DepositsIraqi Dinar Deposits Foreign Currency Deposits ( in Iraqi dinar ) ( 1 ) ( 2 )Week 1 ( A - B ) Week 2 ( A - B ) Week 3 ( A - B ) Week 4 ( A - B ) Total Total/4 Total / 4 Iraqi Dinar ( 1 + 2 ) Total ( 20%) Iraqi Dinars Cash Deposits Iraqi Dinar Deposits Foreign Currency Deposits ( 1 ) ( 2 ) Week 1 vaults cash Week 2 vaults cash Week 3 vaults cash Week 4 vaults cash Total Total/4 Total /4 Iraqi Dinars ( 1 + 2 ) Total (5%) Iraqi Dinars


Reserve Requirements

Originally Posted by CharmedPiper

I found this regarding New York Federal Reserve but could the 12 noon buying rates be for all foreign currency...I am just trying to see if there is a certain time they customarily release new currency on the exchange....probably a longshot but gave it a try.

Foreign Exchange Rates

Daily 10 am spot rates are midpoints of buying rates and selling rates, and do not necessarily reflect rates at which actual transactions have occurred.

Daily 12 noon buying rates in New York are certified by the New York Federal Reserve Bank for customs purposes.

CP will you watch it and post the noon report for us?? How awsome would it be if you were the one to break it and post it first!!!!

Originally Posted by Adster

Yea, if that's susie and kiko in the front, who's that behind them?! And do they have rollercoasters in the Caymans?!

? all I know is iraq needs to flip the switch and bring this baby back to the station. We keep passing through, I'm ready to get off now! lol