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

Originally Posted by mab71

raq, 04 December 2006 (AME Info FZ LLC)

STS, a leading regional integrated IT solutions provider, has announced that SFS Amman, the leading financial services company in Iraq, has selected and will install Hypercom's T2100 countertop card payment terminals and associated networking products at hundreds of retail locations throughout Iraq's 18 states.

SFS Amman selected Hypercom's 32-bit Optimum T2100 hand-over countertop terminal because of its compliance with EMV high security smart card standards, its ability to perform both smart card and loyalty card functions quickly and simultaneously at the point-of-sale (POS), and Hypercom's ability to provide an end-to-end solution, including a customised transaction communications network with associated management software.

'We are using Hypercom's card payment terminals, software, networking technology and transaction communications capabilities to put in place the country's first point-of-sale network. We fully anticipate signing up several thousand merchant locations as we move forward, and the potential for growth is significant,' said Kenny Zair, Chairman of SFS Amman.

'The installation of the first point-of-sale network in Iraq is a positive step for the electronic payment industry, for Iraq's merchants and the country's 27 million residents, and we are pleased that our partner Hypercom's products have been selected above all others,' said Aiman Mazahreh, President, STS.

'Hypercom's products have received more EMV approvals than any other electronic payment device provider, and that gives us a strong competitive advantage,' said O.B. Rawls IV, Senior Vice President, International Sales, Hypercom Corporation. 'SFS Amman's selection of our high-security Optimum products strengthens our presence in the EMEA region.'

Hypercom maintains a network of over 36 distributors and integration partners throughout Europe, the Middle East and Africa (EMEA), in addition to nearly a dozen service locations, as well as R&D centres in Scotland, Sweden, Russia and Latvia, with ongoing software development to meet the multi-application requirements of EMEA customers.

The Optimum T2100 is a high-speed 32-bit EMV 4.0 and VISA PED-certified device with an integrated EMV-compliant smart card reader, built-in printer, large memory to accommodate multiple applications, support for multiple languages and currencies, hand-over countertop design and graphical interface that guides customers through transactions with clear prompts.


STS announces selection of Hypercom's Optimum Technology by Iraq's SFS Aman | Iraq Updates


mmmmmmmmmm i like this.

WoOT!!!!

Originally Posted by Inscrutable

Well, we are in Dec 06 so they (CBI) still has 20 days to reach the target rate of 1345, if they don't than we should see the failure reflected in the next SBA review.

Susie, you said the next review for the SBA was between the 11-14th of Dec, do you have a link?? Or anyone have a link??

someone just posted it yesterday, iamb meeting for the review of the sba is on the 11th and 12th.

Snoopy time this morning was over at the Iraq President website and in the Press section unter the newspaper "The Constitution" it states:

2. الدستورThe Constitution
الصفحة الأولىThe first page
1- One-Maliki is making contacts with the leaders of the Sadri movement to return to participate in the political process
2 Sultan Hashim challenged the impartiality of the report of forensic experts
3- Almtalk : we will announce the National Salvation Front to correct the political process faltering
4- Hakim, Bush will meet at the White House
5 Talabani : we are an independent state and have the best deputies in the region need for international conference
6 International Monetary Fund hold sessions to discuss the application of oil and gas new
7- Seven Arab-American consultations prior to the meeting of Iraq's neighboring countries.

HELP WHAT IS THE LINK TO THIS NEWSPAPER SO I CAN SEE FULL ARTICULE.

ok, so I'm trying to book a flight of our company's web site and happen to see a currency converter. Just for kicks I do the obvious and this is what I get

1.00 US Dollar = 1,371.03 Iraqi Dinar

Conversion Rate:
1 US Dollar = 1,371.0300293 Iraqi Dinar
1 Iraqi Dinar = 0.00 US Dollar
(last updated: Mon, 04 Dec 2006 19:00:00 GMT)

It's sponsored by Oanda.

hmmmm

In today's Iraq Updates there is mention made that the Iraqi Presidential Council "endorsed" the FIL on Friday and described it as a law that "..."would"
encourage international investments in the country."

Throughout the article the subjective tense is used rather than the past tense. It would appear then to me that even though the FIL has been ratified by Iraq's President and endorsed by the Iraqi Presidential Council, it has still not been "enacted."

Doesn't the fact that there has not been a run on the ISX since last Thursday's ratification support this interpretation?

Originally Posted by Dinarstars

Note:this is my opinion below.

You have to remember that the banks that do foreign currency transactions are probably dealing is $500, $1,000, $2,000 amounts, ie... a person going on a trip to (you pick any country) Italy and needs (wants) that amount in Euro. No problem.

I have posted this before, when we cash in, it is my belief that very few local banks will have the authority (or clearance) to authenticate that amount of cash. You also have to remember this is an "exotic" curency, not many people will have the expertice by looking at the picture in their book to say 100% that it is authentic.

Banks have strict rules (internal and external (US Govt, IRS, Homeland Security) what each person at a bank can and can not do to limit their libility, ect. I don't even think a bank manager would be able to approve a 100k cash transaction.

Again, this is only my opinion. For all the people asking local bank tellers/managers these questions, are you making it clear to these people your talking about 6 and 7 figure amounts?

Dinarstars

As I had stated in a previous post, we opened an account with Chase. We were told that our money would be posted that day in our account. They were aware of the amount that was being exchanged. We were told that no authentication was needed for the currency. It may be different from bank to bank. When the RV hits I am sure each of us will have the opportunity to find out first hand who wants our money and how bad. My choice is Chase. With the announcement of a major bank purchase from them on the 15th of Dec., I feel confident I would not have a problem at all giving them my funds.

Just my humble opinion.

Brazani-Government
Kurdistan issues not settled yet with Baghdad-MP

Baghdad, Dec. 5, (VOI) - Parliamentarian Mahmud Othman, of the Kurdistan Coalition, said the meeting by the Kurdistan Primer Negervan Barzani with the Iraqi Prime Minister Nouri al-Maliki did not settle the lingering issues with the central government.
"There were problems in Iraq concerning the 2006 budget allocations to Kurdistan region but the meeting failed to correct these problems for Iraq in 2007 budget, "Mr.. Othman told the independent news agency Voices of Iraq (VOI).

Barzani’s government sought to settle the problems arouse in Iraq's 2006 budget by avoiding a repetition of them in 2007 budget.
As for oil investment in Kurdistan. legislator Othman said "Barzani’s meeting with Maliki also did not resolve the issue of getting oil investments in Kurdistan region away from the Baghdad’s oil ministry."

Kurdistan government seeks a permit to conclude oil investment contracts in Kurdistan region away from Baghdad’s oil ministry, a move highly rejected by the central government as it says "the Iraqi wealth is the property of all the people of Iraq and it should be managed only by the central government."

Lawmaker Mahmud Othman added "The constitution article 140 on needing roads status also encounters many stumbling blocks in its way of implementation, "Mr.. Othman added.
Kurds say city needing roads, which also has Turkmens and Arabs, must be a part of their region, which currently covers three provinces in the north.

Article 140 of the constitution is meant to normalize the situation in needing roads in wait for upcoming referendum on the future of the city, which sits atop 6% of the world's known oil reserves.
Kurdistan Prime Minister arrived early last week in Baghdad and met with the Iraqi President Jalal al-Talabani, Prime Minister Nouri al-Maliki and other senior officials to handle issues related to the region budget, needing roads status, and oil investments in Kurdistan region.

Aswat al Iraq :: Aswat al Iraq


Is it me, or didn't we read lately that they agreed on the budget and oil for 2007!!

Are they trying to mislead us here!!

Voices of Iraq: Barazani-Visit

Posted by: saleem on Tuesday, December 05, 2006 - 10:52 AM

Barazani-Visit
Iraq’s Kurdistan primer ends trip to Baghdad
By Abdul-Hamid Zibari
Arbil, Dec 5, (VOI) – Iraq’s Kurdistan primer Negervan Barzani was back on Tuesday to Arbil after a seven-day visit to Baghdad, an official source said.
“Prime Minister of Kurdistan Region Negervan Barzani arrived today shortly before noon in Arbil after a seven-day visit to Baghdad,” the source told the independent news agency Voices of Iraq (VOI).
During the visit, Mr. Barzani discussed with senior officials in Baghdad issues on the relation between the central and Kurdistan governments, the source added.
“Mr. Barzani is expected to give a news conference within the next few days to make public the outcome of his visit to Baghdad,” the source who asked not to be named said.
Kurdistan Prime Minister arrived early last week in Baghdad and met with the Iraqi President Jalal al-Talabani, Prime Minister Nouri al-Maliki and other senior officials to handle issues related to the region budget, Kirkuk status, and oil investments in Kurdistan region.

Barazani-Visit :: Aswat al Iraq :: Aswat al Iraq

Already Posted, Sorry!

Brazani-Government :: Aswat al Iraq :: Aswat al Iraq

Originally Posted by Jola

And also, I believe that the IMF said 1345 IQD/1USD by Dec. 06, which I don't see it happening in one day ( today is Dec 5). So, I take it, the CBI revaluation of the dinar is not exactly related to the IMF target....hmmm...

didnt they mean dec of 06?? not dec 6th.. well to keep your sanity on this i would suggest not getting to excited on particular dates or you can really be let down.. its fun to watch and hear about dates..but dont put all your hopes on them or you can really be disapointed, and even depressed..this is the holiday season..lets have fun with this and when it revals its party time.. till then we hold the winning lottery ticket we just dont know which weekend it will be called..lol