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

The Secretary-General Off the Cuff

On Iraq, we're going to have the Iraq Compact meeting, which will be attended by about 33 countries and institutions. The Iraq Compact is an idea that the Iraqi Government came up with, and we are working with them on this to really help strengthen their economic and financial systems and also seek international support. They will be setting benchmarks that they will put forward as to what they intend to do in order not only to firm up their own economic situation, but also to provide assurance and confidence to the international community that they have a serious partner on the other side, and for all of us to work together. There will be separate meeting between Iraq and its neighbours, but this is a much broader meeting.

bank of baghdad link
11

Originally Posted by $onedaysoon$

bank of baghdad link
11

Balance 2004



General Budget 2004



Chairman of Managing Council Speech:



Ladies and Gentlemen stockholders of Baghdad Bank:

Iraq had been through some unusual circumstances within the last two years like instability and lack of security that have had a destructive impact on economy, investment and industrial production, but, despite of all that Baghdad Bank achieved a big success during the financial year of 2004 in comparison to the previous financial year and the most important index to that is balancing US dollar price with the current price of 1460 ID



Baghdad bank has taken also serious steps towards opening Al-Bayaa branch at the end of 2004 and rented a location for Al-Suliemaniya branch which shall be opened in March 2005 in addition to the expansion of Baghdad bank activities on the international level as it has made banking connections with many international banks. worth mentioning that Baghdad Bank started putting into practice new systems in Mansour, Palestine and Bayaa branches.

Presently such systems are being put into practice in the general center and general management to be spread later on to the other branches. Baghdad Bank has also signed a contract to use (SWIFT) system in external transfers in 2005. This system shall be run during the above mentioned year.

I would to inform all the stockholders of Baghdad Bank that the report of the managing council 2004 was prepared according to the demands of Central Bank of Iraq to balance US dollar price to0.310 ID instead of its real value (1460) ID per 1 US dollar, so, the report and general budget do not necessarily reflect the actual situation of Baghdad Bank and the volume of economical incoming indexes, so, this report was issued in order to meet the demands of the rules and instructions.

The General Institution of Baghdad Bank that was held on November 16 2004 had taken a decision to make a partnership with Gulf Bank and Iraqi Payee Company with percentage of 49 %, increasing Capital to approximately 10.000.000.000 ID. We would like to inform stockholders of the bank that Central Bank of Iraq reclaimed that the increase of capital to 52.963.600.000 ID all at once instead of two stages. The managing council of the bank and new stockholders agreed to meet the demands of Central Bank of Iraq as long as they do not affect the basis of partnership that all sides have agreed upon in the previous meeting of the General Institution of Baghdad Bank and we are waiting for the final resolution of Central Bank of Iraq about our above mentioned approval.

And hereby I express my deep appreciation to Central Bank of Iraq and department of company registration to their utilitarian and constructive roles in supporting Baghdad Bank and Iraqi economy in general. I also appreciate the honorable situation of all personnel of the bank for preservation of bank properties and for their exceptional efforts in hard times that Iraq had been through within the last two years.



Dr. Monib Khalil Al-Skooti

Chairman of managing council



Net Profit and How to Deal with it:

Baghdad Bank realized gross profit of 3.109.000.000 ID during 2004 this amount equals 59% out of its paid capital which is to be discounted from this profit:



Managing council of Baghdad Bank thinks that distributing profit realized in 2003 and 2004 to stockholders that

is about 2.246.506.176 ID which equals 43% out of the capital of the bank

Reserve Fund and Owings of Stockholders:

Owings of stockholders increased from 3.700.000.000 ID

in 2003 to 8.600.000.000 ID in 2004

that equals 132% and the share of capital reserve fund of the profits of 2004 was

approximately 448.000.000 ID, so, reserve

fund was increased to 1.053.000.000 ID, and reserve of fixed deposits increased to 55.000.000 ID.

The following table includes a detailed list demonstrating development of capital, reserve funds and stockholders’ owing in comparison to previous year.

From IDI forum I LIKE IT! A LOT!!!!!!

September 13, 2006 18:33 PM

Kelantan Gold Dinar To Be Launched On Sept 20


KOTA BAHARU, Sept 13 (Bernama) -- Kelantan will introduce its gold dinar to the public on Sept 20, but only to be used as savings, dowry (mas kahwin), zakat and gifts.

State Executive Councillor Datuk Husam Musa said the dinar is not the official currency of Kelantan as alleged by some quarters.

The usage of the dinar is merely for the Kelantan people to understand the history of the dinar and its usage, he said at the pre-launching of the dinar, here Wednesday.

Menteri Besar Datuk Nik Abdul Aziz Nik Mat will officially launch the dinar and the Pas-led state government through Permodalan Kelantan Berhad has booked three kilogrammes of gold worth RM240,000 in the form of dinar to be sold to the people.

He said the state government also bought dinar worth RM100,000 for the purpose of savings.

One dinar will be sold at RM332.25, half dinar at RM176.76 and quarter dinar at RM99.38.

Husam said the dinar was designed by a Kelantanese.

He said the state government had formed a committee to study on the usage of the gold dinar and to ascertain whether it was against the law.

"However, the committee found out that it was not against the regulation of Bank Negara. As such, there was no need to get the approval of Bank Negara to introduce the gold dinar," he said.

When Husam announced on the proposed usage of gold dinar three months ago, it caught the attention of many, including Prime Minister Datuk Seri Abdullah Ahmad Badawi, as they were worried that it may violate Bank Negara Malaysia regulation.

Husam said those wishing to sell back the dinar could do so at eight ar-Rahnu Islamic pawnshops or at selected goldsmith.

http://www.bernama.com/bernama/stat...d=219551&cat=et
Reply With Quote

WHAT ABOUT THE ONE DINAR BILL???????

Originally Posted by www.xealthy.com

From IDI forum I LIKE IT! A LOT!!!!!!

September 13, 2006 18:33 PM

Kelantan Gold Dinar To Be Launched On Sept 20


KOTA BAHARU, Sept 13 (Bernama) -- Kelantan will introduce its gold dinar to the public on Sept 20, but only to be used as savings, dowry (mas kahwin), zakat and gifts.

State Executive Councillor Datuk Husam Musa said the dinar is not the official currency of Kelantan as alleged by some quarters.

The usage of the dinar is merely for the Kelantan people to understand the history of the dinar and its usage, he said at the pre-launching of the dinar, here Wednesday.

Menteri Besar Datuk Nik Abdul Aziz Nik Mat will officially launch the dinar and the Pas-led state government through Permodalan Kelantan Berhad has booked three kilogrammes of gold worth RM240,000 in the form of dinar to be sold to the people.

He said the state government also bought dinar worth RM100,000 for the purpose of savings.

One dinar will be sold at RM332.25, half dinar at RM176.76 and quarter dinar at RM99.38.

Husam said the dinar was designed by a Kelantanese.

He said the state government had formed a committee to study on the usage of the gold dinar and to ascertain whether it was against the law.

"However, the committee found out that it was not against the regulation of Bank Negara. As such, there was no need to get the approval of Bank Negara to introduce the gold dinar," he said.

When Husam announced on the proposed usage of gold dinar three months ago, it caught the attention of many, including Prime Minister Datuk Seri Abdullah Ahmad Badawi, as they were worried that it may violate Bank Negara Malaysia regulation.

Husam said those wishing to sell back the dinar could do so at eight ar-Rahnu Islamic pawnshops or at selected goldsmith.

http://www.bernama.com/bernama/stat...d=219551&cat=et
Reply With Quote

WHAT ABOUT THE ONE DINAR BILL???????

i don't really understand the significance, that is the wrong dinar as the bank of negara is in malaysia. am i missing something?

This Is The Reason I Dont Do Research! Lol
Im Fired!

Originally Posted by www.xealthy.com

This Is The Reason I Dont Do Research! Lol
Im Fired!

LOL!!!

Sorry Gang, I made a mistake. All threads are crazy but this one. This one must remain open for the News Articles and Postings of facts. It is my fault and I meant to have fun in all the other threads. Now when it r/v's or pegg's. It want matter as much. But we must keep this one open for the News Only with links please. Thanks. I know you will understand. I got and still am Excited too. I will see you in the Crazy thread in the Morning. But it was fun.

Source: Al-Sabah

The Iraqi Central Bank assured that the country is improving in the field of reforming the financial sector in spite of the continuing violence and enough reserves are available to support the local currency.

Sinan Al-Shibibi, Governor of the Bank, emphasized the possibility of succeeding to maintain a stable financial status in Iraq if the reserves are enough to keep the currency exchange rate stable. He pointed out that the net foreign cash reached 10 billion USD at a rise estimated by 2 billion USD since last January. This matches the set down limit within the program of the International Monetary Fund.

Al-Shibibi said that increasing violence kept the inflation high about 10% over the set down limit of the Bank. Part of this is due to the unexpectedly high security costs. He anticipated that the country would not only maintain economic stability but also achieve more progress after the improvement of security status.

Al-Shibibi pointed out that Iraq is on the right track in its financial reforms including: the change of banking system from one depending on cash to another depending on trust as well as improving banks' managements and developing the technology they use to conclude transactions.

LawkSalih.Com - ICB Presenting financial adjustment with available reserve

This is definately interesting

Originally Posted by neno

Sorry Gang, I made a mistake. All threads are crazy but this one. This one must remain open for the News Articles and Postings of facts. It is my fault and I meant to have fun in all the other threads. Now when it r/v's or pegg's. It want matter as much. But we must keep this one open for the News Only with links please. Thanks. I know you will understand. I got and still am Excited too. I will see you in the Crazy thread in the Morning. But it was fun.

SORRY NENO, I MUST HAVE BEEN TYPING WHEN YOU POSTED THIS. LISA