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US Dinar Bank has changed its name

Matilda

By Matilda,
in Warka and Iraqi Banking

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Matilda Newbie

Matilda

Posted
Posted

US Dinar Bank Changes Name to US DinarEx to Better Reflect the Company's Focus: Offering an Iraqi Bank Account for Dinar and Dollar Exchange

Read more: http://www.benzinga.com/press-releases/11/04/p1004737/us-dinar-bank-changes-name-to-us-dinarex-to-better-reflect-the-company#ixzz1JX37fdrU

http://www.benzinga.com/press-releases/11/04/p1004737/us-dinar-bank-changes-name-to-us-dinarex-to-better-reflect-the-company

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LEXICON Newbie

LEXICON

Posted
Posted

hmmmmmmmm veryyyyyyyyyy intresting why do it now? makes one wonder. Good post. Too many things happening we are there people.

Agreed Easyrider! No expert here but always great intuition, i have not felt like this since i've been invested : )

Love your positivity and enthusiasm.

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smee2 Newbie

smee2

Posted
Posted

I'm not exactly sure what, if any, forum this belongs in...

I can see your point but ... considering how much "misplaced" content is found in the oddest places, I think this one is about as close at it can get for people to get the "idea" of what is being offered. I wouldn't lose sleep over moving it.

:)

smee2

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Adam Montana Proficient

Adam Montana

Posted
Posted

Good posting...... it is very interesting that they changed their name.....

GO RV..........

Probably due to getting so much negative press. All of the positive articles you see about David http://iqd.me/l/11 are created by David http://iqd.me/l/11 and promoted using a paid web service.

Every unbiased report about him and US Dinar Bank that comes from an unrelated, unpaid source (like me) usually calls his business what it is - a pathetic attempt to lure investors into giving him a large portion of their profits.

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is it Monday yet Newbie

is it Monday yet

Posted
Posted

this is what I received in an e-mail regarding David http://iqd.me/l/11 and Dinar Banker:

From: David http://iqd.me/l/11

To: commxxxxxxxxxxxxxxxxus.org

Sent: Wed, January 12, 2011 12:40:33 PM

Subject: Clarification on Iraqi Monetary Policy

Dear Sir,

I would like to have information regarding the current policies of the Iraqi Government and Central Bank of Iraq concerning the Iraqi Dinar and whether it is legal or illegal according to the laws of the government of Iraq to have the Iraqi Dinar currency outside the borders of the country of Iraq in any way at this time.

A clear statement of the facts regarding the Iraqi Dinar paper currency and the rules and regulations those in possession of it should be aware of would be sufficient. If you could have my request answered quickly with the response written on your letterhead, then scanned and e-mailed back to me at this address as soon as possible I would be very grateful.

Thank you for your prompt attention to this matter.

Very Sincerely Yours,

David http://iqd.me/l/11

xxxxxxxxxxxxxxxx

Director AMERAQ Exchange and Services Group

Wow Really????? This was my response.

It is not Illegal to sell or purchase dinar outside Iraq. Ask your self one question. Who would gain from such a rumor? Before I address this let me tell you why it is not illegal. First executive order 13033 makes it legal for us to invest in Iraq. This includes holding, purchasing, and selling dinar. Second if such a law exist customs would not allow the dinar dealers to import the dinar. Third Dinar dealers have a license called MSB. This stands for Money Service Business. This is issued by the department of treasury. Most reputable dinar dealers have this license. If they were doing an illegal act, the treasury would shut them down.

http://www.fincen.go...teselector.html

http://www.dinartrad...us_treasury.htm

I had some friends contact the FBI concerning the legality of this and they said that there are scams concerning the dinar, but the dinar itself is not a scam. They also said that dinar trade is not doing anything Illegal. The other currency dealers such as Dinar banker are also legal regarding their transactions.

There are some interesting points regarding this email. First to prove this law they put a link in for the CBI in Arabic. There is an exact version of this website in English, You can look up the laws regarding the CBI in English from their own site! Here is the link.

http://www.cbi.iq/in...LawsRegulations

Nothing in this link even mentions this law. There are new laws in place regarding money laundering using the dinar. Basically this practice is done to avoid paying taxes. It does not say that it is Illegal to hold or sell dinar outside of Iraq!

http://another site....ney-laundering/

It seems that Mr. http://iqd.me/l/11 is spreading this rumor in an effort to get people to open up an account with his US dinar bank. This whole thing wreaks of scam. A few months back bankers from Warka bank in Iraq said the same thing in an interview in an effort to increase their deposits. The whole thing was debunked in later articles.

Now that this motive has been revealed let us dig deeper. This comment is from Diesel

Marcus thanks for the information, it is much appreciated.

In regards to David http://iqd.me/l/11 et al. I had about an hour long conversation with an employee of that business. I must say they made a compelling argument and I was sorely tempted to initially invest with them. That is until they dropped the bombshell.

I asked if there are any fees associated with the ‘fund’ that I was to invest in. Essentially what happens is you sign an agreement with the company stating that you give US Dinar Banker all rights to your money and that they have controlling interest on said funds. So basically they can do with it as they please.

There is a 2% fee for managing the funds, but there is a 2% interest rate given by Warka Bank in Baghdad, so that is a wash.

Lastly, whenever you want to withdraw your money, that being pre or post RV there is a 20% FEE. So, if it does RV, lets play pretend for a moment, and its 1 USD for 1 IQD and you have a million in Dinar. Then the group from US Dinar Banker would get $200,000 of YOUR money.

So, the scam isn’t the Dinar Dealers selling you currency, it is these guys. FYI.

Thank you Diesel for your insight. Now that everyone knows the source of the rumor and why these people are saying this. Now let me explain why this will not be the case and settle the matter once and for all.

I tried to post the but it won't let me , but I would be very leary of this guy. :unsure:

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Froto Newbie

Froto

Posted
Posted

This article is regarding David http://iqd.me/l/11, who wants 20% of your Dinar after RV.

Anyone dumb enough to give TWENTY PERCENT of their investment away to this guy will find it no matter what forum it's in :lol:

Don't forget to add that while you wait, he will also keep the 7% interest Warka pays on IQD accounts.

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