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

This can only be good news:

http://www.abc4.com/local_news/local...9-148C4A12663D

Smiles were replaced by tears Monday, as loved ones said goodbye to the 395th Finance Battalion at Salt Lake's Ft. Douglas Reserve Center. The Amry Reserve unit is being deployed to Kuwait, Iraq, and Qatar to take care of soldiers' pay. They'll also help to stabilize the Iraqi banking system.

"That's a big challenge," Battalion Commander Brennan Fernelius said. "We're trying to push the Iraqi dinar, and stabilize their economy."

However, for many of the 28 soldiers leaving, the hardest task of the next 18 months will already be completed before they reach overseas. Saying goodbye, many not for the first time, is not only hard on the soldiers, but their families as well. "You never get used to the separation," wife Elizabeth Valdez said. "But I know he is a good leader, and I know he's going to be there leading his soldiers so they will safely return."

Hi everyone, i just got this in email from bruce, is update concerning his email of currency change, looks like there is no need to worry.

Greetings!
Dear Member - Further to the email we sent out yesterday and in response to panic and widespread debate on the matter I thought I would just clarify a few points - Firstly , what we heard is a "Proposal" to change the currency to stop inflation within Iraq caused by the high denomination currency , that is transactions being settled in millions of Dinars . The Iraqi´s very much want to restore their position within the International financial community and by changing the currency and re-valuing it , they hope to achieve this .

We have always indicated that you invest for the long term in Iraq and we believe if a new currency does come it will be good for Iraq and over time you will see an excellent return on your investment , one needs patience in this market but we are still confident that the Dinar will be very valuable in the future .

There is no need to panic , and once we know more we will inform you immediately .

We will look after our customers and ensure that all changes are worked out smoothly .

There is nothing to panic about , let´s all wait until we see some official statement and act on it then .

We are still seeing large demand for Dinars and this is a very good sign and we maintain or BUY recommendation , also I am increasing my personal holdings , so I am not panicking !

Originally Posted by nej

This can only be good news:

http://www.abc4.com/local_news/local...9-148C4A12663D

Smiles were replaced by tears Monday, as loved ones said goodbye to the 395th Finance Battalion at Salt Lake's Ft. Douglas Reserve Center. The Amry Reserve unit is being deployed to Kuwait, Iraq, and Qatar to take care of soldiers' pay. They'll also help to stabilize the Iraqi banking system.

"That's a big challenge," Battalion Commander Brennan Fernelius said. "We're trying to push the Iraqi dinar, and stabilize their economy."

However, for many of the 28 soldiers leaving, the hardest task of the next 18 months will already be completed before they reach overseas. Saying goodbye, many not for the first time, is not only hard on the soldiers, but their families as well. "You never get used to the separation," wife Elizabeth Valdez said. "But I know he is a good leader, and I know he's going to be there leading his soldiers so they will safely return."

Thanks Nej! By the way happy belated b-day! I think it was yesterday, wasn't it?

I bow to you for this article: http://iraq.usembassy.gov/iraq/20060...lzad_csis.html

Originally Posted by nej

This can only be good news:

http://www.abc4.com/local_news/local...9-148C4A12663D

Smiles were replaced by tears Monday, as loved ones said goodbye to the 395th Finance Battalion at Salt Lake's Ft. Douglas Reserve Center. The Amry Reserve unit is being deployed to Kuwait, Iraq, and Qatar to take care of soldiers' pay. They'll also help to stabilize the Iraqi banking system.

"That's a big challenge," Battalion Commander Brennan Fernelius said. "We're trying to push the Iraqi dinar, and stabilize their economy."

However, for many of the 28 soldiers leaving, the hardest task of the next 18 months will already be completed before they reach overseas. Saying goodbye, many not for the first time, is not only hard on the soldiers, but their families as well. "You never get used to the separation," wife Elizabeth Valdez said. "But I know he is a good leader, and I know he's going to be there leading his soldiers so they will safely return."

People, this particular article doesn't really have anything to do with reval. Sorry, I'm not good at posting links, but I read late last night a much longer article about this battalion and what they are actually doing. What they do is mainly pay off Iraqi's who help the US military. "Pushing the dinar" means getting the Iraqis to take pay in dinars instead of dollars because that makes them less likely a target for the insurgents angry about their assistance to the Americans. The battalion also supplies spending money to American soldiers who are in out-of-the-way places.

However, I think the other recent articles are very encouraging. Obviously, there is some serious talk going on
about the dinar in high government places, and we will benefit sooner or later in some way.

Caroline

the e-mail recieved by Bruce of Iraqi Dinars made me a little concerned. He said "The Iraqi´s very much want to restore their position within the International financial community and by changing the currency and re-valuing it " If this happens with new currency will it have an adverse effect on the dinars we already are in posession of? I Just don't quite understand the meaning of what will happen . BOB

Originally Posted by choochie

Thanks Nej! By the way happy belated b-day! I think it was yesterday, wasn't it?

Thanks Chooch! Yes it was yesterday. Had a nice day, but the beer drinking comes on Sunday at a birthday BBQ!

Industries : OCI begins cement production in northern Iraq

Tuesday, July 11th 2006


Orascom Construction Industries (OCI) announced that rehabilitation of the 2.3 million ton per year Tasluja cement factory in northern Iraq has been completed for a total investment cost of $70 million.

An OCI-led consortium was awarded a tax-exempt 12-year lease for the Tasluja cement plant located near the city of Suleimaniyah in the Kurtdistan region of Iraq in November 2004. The OCI consortium includes the Farouk Rasool Group (FRG), an industrial group in northern Iraq.

Under the terms of the contract, the OCI consortium is responsible for the rehabilitation, operation and maintenance of the plant and receives a right of first refusal on any potential privatization of the plant.

Since the award date, OCI has increased its stake in the leasing vehicle from 51 to 60 percent.

The Tasluja plant has two dry process production lines supplied by ThyssenKrupp Polysius with a designed production capacity of 2.3 million tons annually. An OCI Construction Group/Polysius team completed the rehabilitation project.

OCI Chief Executive Officer Nassef Sawiris said that OCI is committed to raise production capacity in northern Iraq to more than five million tons during 2007. "We hope the new capacity in the Tasluja plant and the Bazian greenfield currently under construction (3 million cement tons annually) will help alleviate the inconsistent imports coming into Iraq and contribute to the reconstruction process."

Farouk Rasool of FRG said that the commissioning of the Tasluja plant "is an important milestone in the industrial development of the region having created numerous employment opportunities and brought in foreign direct investment."

The OCI Cement Group currently owns and operate cement plants in Egypt, Algeria, northern Iraq, Turkey and Spain. The plants have a combined annual production capacity of 18 million tons. The Group's new investments in Pakistan, northern Iraq, Turkey, Nigeria, Algeria and the United Arab Emirates is expected to increase their annual production capacity to 31 million tons by next year.

http://www.portaliraq.com/news/OCI+b...1ff44f845207a8

Iraqi Dinars - Special Report

Chris Papatheofanous is PortAl Iraq's exclusive dinar trading associate. She became an Iraqi dinar trader “with one goal in mind�: to educate herself and her buyers on the incentives for investment in Iraq.

Papatheofanous and her husband, Egidio Abate aren’t alone in their mindset--“everyone,� Papatheofanous said, “is very excited about Iraq's new banknotes, mainly because they had and have a very important story to tell.�

And the duo’s story begins in November 2003, with a partnership offer from a Jordanian supplier in the sale of Iraqi dinars. “The new Iraqi currency had just been issued on October 15, 2003, and was very much in demand on eBay,� Papatheofanous said. The prospect of selling the new dinars beat the couple’s former occupation of selling old “Swiss� Iraqi dinars on eBay.


The new Iraqi currency
The new dinar had replaced older notes that displayed Saddam Hussein's image. One old dinar was exchanged for one new dinar; one “Swiss� dinar was exchanged for 150 new dinars.

“This was a great chance for us to expand our business, and therefore we decided to embark on the road of new dinars and see were it would take us,� Papatheofanous said.
Increasing demand for the Iraqi dinars
Since the production of the new bank notes, the international demand for the new Iraqi dinar has continued to rise. Papatheofanous attributes the increased demand to the newfound enthusiasm amongst investors through the flow of investment information (highlighting the popularity of business websites such as PortAl Iraq) and a series of events (most notably the authorization of six Western Banks to work in Iraq).

“I strongly believe that when banks make a market for the dinar, its value will increase,� Papatheofanous said.

In addition, Papatheofanous attributes the Iraqi dinar’s current value, potential rate of return and Iraq’s position as the second largest oil reserve holder in the world, with 95 percent of Iraq’s Pre-Gulf war foreign exchange earning coming from exported oil.

Papatheofanous acknowledged how “remarkable� Iraq is as a postwar country, stating that “even in the midst of chaos, scandals and physical violence, the dinar has managed to appreciate by 25 percent in value.�

The “all-time low� of the dinar, according to Papatheofanous, also appeals to investors. “Investors are very aware that they are buying the dinar at a postwar level; therefore, it has captivated a broader spectrum,� Papatheofanous said. “Anyone can afford it, regardless if they are big or small investors.�

Investors are willing to take the “minimal� risk, Papatheofanous argued, because it is “well worth it, considering that this little investment might render them millionaires one day.�


Excellent security features
And--further encouraging the dinar demand--are the note’s security features: watermarks, metallic inks, safety strip, color changing symbol, raised lettering and writing that is only visible in ultra violet light.

“When there is confidence in any currency, stability and growth are the next to follow,� Papatheofanous said.

http://www.portaliraq.com/iraq-dinar-report.php

Iraqi Dinar - Frequently Asked Questions

Individuals considering buying or selling Iraqi dinars are urged to obtain additional information from a licensed financial professional , and to ask specific questions concerning the risks as well as the opportunities of such an investment. [b]WE ARE NOT ACCREDITED FINANCIAL ADVISORS AND THE ANSWERS AND LINKS PROVIDED ON THIS WEBSITE ARE FOR INFORMATIONAL USE ONLY.[b] Please read our terms and conditions for more information
Where can I track the exchange rate of the Dinar?
What banks have been granted permission to go into Iraq?
Are there any western banks selling the dinar?
Where can I find more info about the Iraqi economic and financial situation?
Can you handle very large orders?
How long will it take for the Dinars to arrive?
Do you ship worldwide?
Are your banknotes authentic?
When do you think IQD 1 = USD 1?
Is it legal to ship foreign currency to the USA?
How will I sell the Iraqi dinars in the future?
Why am I paying a markup?
What is your current quote?
I have some old "swiss" Iraqi dinar, where can I exchange them for the new dinars?
I still have a question unanswered.
Iraq's Economy and Banking
Where can I track the exchange rate of the Dinar?
The most accurate rate is probably on the Central Bank of Iraq website
What banks have been granted permission to go into Iraq?
HSBC
Standard Chartered
National Bank of Kuwait
Iranian National Bank
Commercial Housing Bank
Bahraini Arab Banking Institute
For more official information on banks in Iraq
Some relevant articles:
Iraq Central Bank to let five more banks operate; more Treasury bills on the way
Al-Warkaa Bank buys Iraqi bonds with U.S. investor support
Central Bank of Iraq approves three new foreign banks
Are there any western banks selling the dinar?
Added November, 23, 2004: We have heard scattered rumors that a couple of western banks have started selling the dinar. We cannot confirm this information but please be aware of this.
Where can I find more info about the Iraqi economic and financial situation?
Assessing Proposals for Iraqi Financial Reconstruction: Blending Lessons from the Experiences of Developing, Post-Conflict, Transitional and Commodity-Export-Dependent Economies (Harvard University, 79 pages)
Great overview on the Iraqi Economy, Currency, and Currency forecast
More info about the exchange process from the old to the new Iraqi currency (October 2003 CPA)
Iraqi private banks (CPA)
Summary of Iraqi banking reforms (CPA)
Central Bank of Iraq Law Fact Sheet (CPA)
CBI Law and Banking Law full documents (CBI)
Statististical information about Iraqi economic activities (CBI)
Our service
Are your banknotes authentic?
All of our notes are 100 % Genuine with prominent security features, in Crisp UNCirculated condition, and are obtained directly from Iraq.
What is your current quote?
You can see our prices for the 25,000 note (most popular) here.
Can you handle very large orders?
Yes. We can handle any amount requested. We offer special prices for large quantities. Contact us for more information.
How long will it take for the Dinars to arrive?
On average, 5 - 8 working days once payment is received. Some delays occur from time to time, we promise to keep you up to date and help you track your new dinars until they are safe with you.
I see that the current exchange rate is different than what you charge for the dinars. Why the markup?
If you know anybody willing to take the risk to fly to Iraq just to buy dinars or you know Iraqis willing to send your currency from there, then the current official exchange rate is indeed the fair price. We charge this markup to cover our shipping costs, time, bank charges, phone bills, website maintenance, salaries, and most importantly risk costs. You are paying a high premium for our supplier to take the risk and drive from Jordan to Iraq and back in one piece. As you know, Iraq is not a stable place and you need to be very motivated to venture there.
Do you ship worldwide?
Yes. We have flawlessly shipped our dinar packages to the United States, United Kingdom, Canada, France, Belgium, Germany, Sweden, Switzerland, Japan, China, Puerto Rico, Guam, and Singapore. We will be happy to send to any country but please check with your country's customs whether you are allowed to import currency.
Do you accept other currencies than the USD?
No. We accept payments drawn on USD only. You can exchange your local currency in USD at your bank.
The investment's potential
When do you think IQD 1 = USD 1?
We are not accredited financial consultants and do not offer investment advice and therefore are unable to give you advice about when we think the dinar will be worth a certain amount compared to the dollar. You must remember that Iraq is a post-war country and is very unstable. We cannot predict the future; it is very difficult to make economic projections for a post-war nation.
How will I sell the Iraqi dinars in the future?
Iraq is a post-war country and its financial institutions are ruined and are in the process of being reconstructed. To sell your dinars, you would need to work through a bank that trades Iraqi Dinar. We do not believe that there is a western bank that currently trades the Dinar and we cannot guess when banks will start trading this currency. We estimate that once the Iraqi economy is back on its feet and the Dinar is traded internationally, you will be able to sell your Dinar to your bank. In the mean time, however, we do not guarantee that you will find where to "cash out" and sell your dinars. The lack of liquidity in this investment is one of the biggest risks you take when you invest in the Dinar.
What kind of taxes can i expect to pay when cashing in iraqi dinar in the USA?
Please check with your accountant. We cannot give you a fair answer as we are not financial advisors or certified public accountants and do not know the tax laws of you country.
How soon will my investment in the Iraq dinar pay off? When do you think the 1 dinar = 1 USD? How fast do you think I will multiply my money by a factor of 2, 10, 1000?
We are not accredited financial consultants and do not offer investment advice. Our service is to bring Iraqi dinars from Iraq to you. We do not know when and if the dinar investment will pay off; it depends on many factors including the security and political situation in Iraq. We strongly suggest you do your homework and learn the risks and potential rewards this investment offers.
Are there any risks investing in the Iraqi dinar?
Many. Iraq is a postwar country and is currently unstable and investing in Iraqi dinar is risky. Invest only what you can afford. Consider this investment as the most risky part of your portfolio.
Is it legal to ship foreign currency to the USA? What is the limit?
We are not accredited financial consultants nor tax accountants and do not offer investment or legal advice. Yes it is legal and there is no limit to the amount of currency that you bring into the USA. However, when a person brings more than $10,000 American Dollar worth of currency into the USA, they must file a "Report of International transportation of currency or monetary instruments" (FinCEN Form 105)).
How much currency/money/monetary instruments can I bring into the U.S.? (US CUSTOMS)
FinCen Form 105 (PDF File)
Misc
I have some old "swiss" Iraqi dinar, where can I exchange them for the new dinars?
You may want to read about the exchange of new Iraqi dinars for old Iraqi dinars here.
I still have a question unanswered.
Ask now and we will answer within maximum 24 hours

See The Article here for answers: http://www.portaliraq.com/iraq-dinar-faq.php