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

If we have news of the 10K handout tomorrow, WE ARE HOME FREE!

Originally Posted by arpking

That was my original thought, but I cannot see any other way to exchange them. They do not get sent to a "major branch" or "regional branch". I would drive to NY from Illinois if I knew that is where they get "verified".
What would you suggest?

Here is my plan that I have already discussed with my local bank manager. I am going to buy the bank their own personal De La Rue machine so I can have my dinars verified right on the spot with no questions asked. Will only cost me about $10K USD. The manager loves the idea if his budget will not allow him to get one. The bank will also be able to use the machine for authenticating other currencies as well. A simple and elegant solution!!

Originally Posted by CharmedPiper

Where are all the woooots, farm jigs, and kitty wiggles.......get those bananas dancing gang looks like we are pulling into the station!!!!!

I'm ready CHARMED!!!

WOOOOOOOOOOOOOOOOOOOOOOOOOT

Originally Posted by danny51

Here is my plan that I have already discussed with my local bank manager. I am going to buy the bank their own personal De La Rue machine so I can have my dinars verified right on the spot with no questions asked. Will only cost me about $10K USD. The manager loves the idea if his budget will not allow him to get one. The bank will also be able to use the machine for authenticating other currencies as well. A simple and elegant solution!!

Then I shall drive to where you are banking. Let us know!!!! :)

Open!

Open!

Open!

At a buck +

Originally Posted by Lunar

Iraq ratified the Law for the Promotion of Investment
Source : CNN-02 / 12 / 2006


Iraqi Presidency Council approved on Friday the Investment Law. , which aims to encourage investments and the transfer of modern technologies, in order to contribute to the development of the country. and expand its productive base and service and diversification.

The law, , which was based on a draft approved by the House of Representatives, to encourage the Iraqi private sector and foreign investment in the country, through the provision of the necessary facilities for the establishment of investment projects. strengthening the competitiveness of enterprises.

The law also aims to develop human resources according to market requirements, and providing job opportunities for the Iraqis. and work on the protection of human and property investors, and the expansion of exports, and strengthening the balance of payments, The trade balance for Iraq.

The new law grants special body, named the National Association of Investment, the task of drawing investment policies, and it controls, application instructions and control in the area of investment, in addition to its focus on strategic investment projects with the federal nature exclusively.

The event, moderated by the National Authority for the investment board, consisting of nine members with expertise and competence, in addition to representatives in the regions and provinces, to be located in the capital, Baghdad, as quoted by the Kuwaiti News Agency.

The law exempted from the provisions of investment in the fields of mining and oil and gas production. , as well as in the sectors of banks and insurance companies. " while all areas of investment will be subject to the other provisions of this Act.

According to reports, it is expected that the investor enjoys all the privileges and facilities and guarantees, and subject to the obligations contained in the Act.

The law allows investors to take the capital introduced to Iraq and dividends, in accordance with the provisions of this law and the instructions of the Central Bank of Iraq, The convertible currency after payment of all debts and obligations to the Iraqi government and all other quarters.

The law also gives the right of the Iraqi and foreign investor in the field of housing, determined to keep the land in return between him and the owner of the land, away from the speculation, and according to rules set by the National Authority for Investment, and with the consent of the Council of Ministers.

It will also facilitate the process of allocating land for housing projects, The ownership of housing units for the Iraqis. after the completion of the project.

Just find it interesting that the FIL excludes the "BIG MONEY", oil, gas, banking & insurance business. To my way of thinking if I was wanting to invest in this country, these are the industries I would want to be in, in the start. Why would I want to invest in things like housing where there is greater risk on my return on investment.
Seems like they want all the easy lucritive gravy making oppertunities to be controlled & maintained by the state & local bodies while wanting the risky, lower profiting mennial type of industries to be picked up by the foreign investor.
How is the US, China or Russia going contribute to the oil & gas sector under this law as has been reported?
They have stated that they want to invest MILLIONS of dollars to exploration & development of this sector, but under this law theycan't
Is there something I'm missing???? Help me to understand this gang

I was in a Wells Fargo bank today waiting on a friend to do some banking and there were a lot of folks in line. I noticed a house phone with direct #'s to different departments within Wells Fargo. So while I was waiting I figured that I would see what there policy was for exchanging for folks that did not have an account with them.

So anyway I picked up the phone and dialed #70. The gentleman that took my call informed me that as long as it was an openly traded currency that they would exchange it(with a fee of course). I had no intention of even metioning the IQD, but this guy would just not let me go. He starting asking all kinds of questions wanting to know which currency I was intresested in.

I finally gave in and told him that it was the IQD. His response to that really surprised me.

"We will never trade that currency" he replied.

Oh, I really wish that I would have had a recorder with me. He went on to tell me that the IQD would never revale and was only a pipe dream. He went on to say that it would never happen like it did in kuwait. He rambled on like this for 5 to 10 minutes and then he made the comment that really told me that this guy did not have a clue about the dinar. I interjected a comment about the current value of the dinar and he called me a liar. He said that the last time he looked the IQD was trading 25,000 IQD for 1 USD!!!

AT this point I really got fed up with this guy! I calmed myself down for a minute and then clamly informed the gentleman that he might want to go check the forex. He then asked me why I thought I knew so much about it. I said "I don't know maybe it has something to do with the 6+ hours a day I have spent researching it for the last year and half!" Then I hung up!

does anyone have the link with the web movie of our solders and the iraqi children it was real cool and had music to it. sorry to get off topic it just came to mind it was about our solders helping the iraqis

Originally Posted by robinhoodof sherwoodpark

Just find it interesting that the FIL excludes the "BIG MONEY", oil, gas, banking & insurance business. To my way of thinking if I was wanting to invest in this country, these are the industries I would want to be in, in the start. Why would I want to invest in things like housing where there is greater risk on my return on investment.
Seems like they want all the easy lucritive gravy making oppertunities to be controlled & maintained by the state & local bodies while wanting the risky, lower profiting mennial type of industries to be picked up by the foreign investor.
How is the US, China or Russia going contribute to the oil & gas sector under this law as has been reported?
They have stated that they want to invest MILLIONS of dollars to exploration & development of this sector, but under this law theycan't
Is there something I'm missing???? Help me to understand this gang

yes...it's called the hydrocarbon law

#332 (permalink) Today, 12:28 AM - [add post to favorites]
robinhoodof sherwoodpark

"Just find it interesting that the FIL excludes the "BIG MONEY", oil, gas, banking & insurance business. To my way of thinking if I was wanting to invest in this country, these are the industries I would want to be in, in the start. Why would I want to invest in things like housing where there is greater risk on my return on investment."


The HCL, Hydrocarbon Law should follow soon, which is specific to the gas and oil industry, but is legitimized by the FIL. The Banking sector I believe is covered under CBI. There are already several foreign owned Banks operating in Iraq if I am not mistaken.

CapeK