NoviceInvestor Posted April 4, 2014 Report Share Posted April 4, 2014 I was wondering if there can be an in country RV only Link to comment Share on other sites More sharing options...
sandfly Posted April 4, 2014 Report Share Posted April 4, 2014 I DONT THINK SO, WHEN IT HAPPENS. IT WILL GO ALL AT THE SAME TIME Link to comment Share on other sites More sharing options...
NoviceInvestor Posted April 4, 2014 Author Report Share Posted April 4, 2014 Thank you SandFly Link to comment Share on other sites More sharing options...
DinarThug Posted April 4, 2014 Report Share Posted April 4, 2014 Thank you SandFly OMG ! Whatever U Do - Don't Give Him Any More Thanks ! 2 Link to comment Share on other sites More sharing options...
captl1 Posted April 4, 2014 Report Share Posted April 4, 2014 Thank you SandFly Kinda like the pot calling the kettle black. Lol 1 Link to comment Share on other sites More sharing options...
dontlop Posted April 4, 2014 Report Share Posted April 4, 2014 (edited) Iraq has currency out of they country They know this would hurt what they are trying to do establishing their honor and respect and their credit rating their currency To do that is political suicide Look up citi worldlink they been making transactions in Iraqi dinar since 2006 Iraq knows their currency is abroad Our currency is being sold thru us treasury registered dealers They know we hold dinar That's not local politics This is global The big dogs Edited April 4, 2014 by dontlop 1 Link to comment Share on other sites More sharing options...
ewingm Posted April 4, 2014 Report Share Posted April 4, 2014 A sovereign country cannot have two values for its currency. In-country or out of country, it must remain the same. Now if they RD(redenominate), they may stipulate that you can only exchange the old currency for the new currency in-country only, as they did in 2003. In that case, we are all in deep kimshi. 2 1 Link to comment Share on other sites More sharing options...
sportfisher Posted April 4, 2014 Report Share Posted April 4, 2014 I was wondering if there can be an in country RV only No, but there could be an "in Country" only exchange window associated wit a RD (redenomination). 1 Link to comment Share on other sites More sharing options...
easyrider Posted April 4, 2014 Report Share Posted April 4, 2014 (edited) I was wondering if there can be an in country RV only This is NOT the Saddam era if they want to be taken serious from the international community the dinar must be accepted globally and at your local bank as an internationally tradable currency. Their are guidelines and rules now from the IMf, world bank etc. if Iraq wants to strive as a nation. Get out of the old mentality of the Saddam era, remember this is the first time legally Iraq will become a major player for the international community legally. Edited April 4, 2014 by easyrider 1 Link to comment Share on other sites More sharing options...
DWitte Posted April 4, 2014 Report Share Posted April 4, 2014 I DONT THINK SO, WHEN IT HAPPENS. IT WILL GO ALL AT THE SAME TIME THANKS 1 Link to comment Share on other sites More sharing options...
Dinarian64 Posted April 4, 2014 Report Share Posted April 4, 2014 A sovereign country cannot have two values for its currency. In-country or out of country, it must remain the same. Now if they RD(redenominate), they may stipulate that you can only exchange the old currency for the new currency in-country only, as they did in 2003. In that case, we are all in deep kimshi. Let's pray they care to save face enough to pay off the external dinar versus a lop and in country only exchange. That would suck. Link to comment Share on other sites More sharing options...
gxr Posted April 4, 2014 Report Share Posted April 4, 2014 I hope the RV take off will have all 8 engines PLUS Jato! LOL Link to comment Share on other sites More sharing options...
dontlop Posted April 4, 2014 Report Share Posted April 4, 2014 A sovereign country cannot have two values for its currency. In-country or out of country, it must remain the same. Now if they RD(redenominate), they may stipulate that you can only exchange the old currency for the new currency in-country only, as they did in 2003. In that case, we are all in deep kimshi. Their was a war going on in 2003 The borders were closed long before the exchange No one was getting in After January 15 2004 all legal instruments were converted to new Iraqi dinar But the actual exchange was done out of vans , humvees , the cbi wasn't open for business as usual They were in lock down within the green zone It's hardly a factor now in Iraq I doubt they will have any type of closed in country exchange like saddam did or the coalition provincial authority CPA was in the middle of war Saddam was being flooded with counterfeits from every border while being sanctioned Things are much different now Iraq wasn't even incharge of Iraq The CPA called the shots back then Ch 7 and most all resolutions are over 1 Link to comment Share on other sites More sharing options...
ewingm Posted April 4, 2014 Report Share Posted April 4, 2014 If I'm not mistaken, and correct me if I'm wrong, there is some Iraq financial policy that states their currency is only to be used in-country. The selling of their currency outside of Iraq has always been on somewhat muddied legal ground. Someone weigh in on this that has more currency background on this than me. 2 2 Link to comment Share on other sites More sharing options...
pocono Posted April 4, 2014 Report Share Posted April 4, 2014 If I'm not mistaken, and correct me if I'm wrong, there is some Iraq financial policy that states their currency is only to be used in-country. The selling of their currency outside of Iraq has always been on somewhat muddied legal ground. Someone weigh in on this that has more currency background on this than me. CBI Law,Annex A,Article 32 uses language that might be construed to suggest that. 2 Link to comment Share on other sites More sharing options...
dontlop Posted April 4, 2014 Report Share Posted April 4, 2014 Lol it would take some construeing all right http://www.cbi.iq/documents/banking_law_f.pdf IRAQI DINAR WorldLink® Payment Services has been making IQD payments on behalf of selected clients since 2006 adding to the exotic currencies suite. With the success established over five years, WorldLink has differentiated itself by having local expertise and strong banking relationships in Iraq. WorldLink is now offering IQD payments as a fully developed and proven offering to all relevant WorldLink clients. While the US Dollar remains a widely accepted currency in Iraq, Citi’s cross-border payments specialists anticipate that IQD payments will gain an increasing foothold in support of foreign direct investments. “Making payments into new countries doesn’t have to be risky or intimidating for clients; the liberalization of markets especially those in the Middle East and Africa are going to undoubtedly change the global economy in the near future. Providing payment options in local currencies is just one step towards building solutions for our clients looking to do business or invest further in these markets.” said, Michael Vallance, Global Head of WorldLink® Payment Services at Citi. http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a2EXaRHUDRK4 Link to comment Share on other sites More sharing options...
pocono Posted April 4, 2014 Report Share Posted April 4, 2014 Lol it would take some construeing all right http://www.cbi.iq/documents/banking_law_f.pdf IRAQI DINAR WorldLink® Payment Services has been making IQD payments on behalf of selected clients since 2006 adding to the exotic currencies suite. With the success established over five years, WorldLink has differentiated itself by having local expertise and strong banking relationships in Iraq. WorldLink is now offering IQD payments as a fully developed and proven offering to all relevant WorldLink clients. While the US Dollar remains a widely accepted currency in Iraq, Citi’s cross-border payments specialists anticipate that IQD payments will gain an increasing foothold in support of foreign direct investments. “Making payments into new countries doesn’t have to be risky or intimidating for clients; the liberalization of markets especially those in the Middle East and Africa are going to undoubtedly change the global economy in the near future. Providing payment options in local currencies is just one step towards building solutions for our clients looking to do business or invest further in these markets.” said, Michael Vallance, Global Head of WorldLink® Payment Services at Citi. http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a2EXaRHUDRK4 While you're at it why don't you post the correct link to the CBI law as I indicated rather than the Banking law.You might not be so quick with your arrogant lol's. 1 Link to comment Share on other sites More sharing options...
ewingm Posted April 4, 2014 Report Share Posted April 4, 2014 Since this remains in some doubt, of all the world's countries that have ReDenominated their currencies, and I have seen long lists of them on Dinarvets, have any of them required in-country currency exchange, ie. old for new? Or did most allow for overseas exchange through financial institutions/banks. How about it? I know many of you have the financial expertise to answer that question. 1 Link to comment Share on other sites More sharing options...
dontlop Posted April 4, 2014 Report Share Posted April 4, 2014 While you're at it why don't you post the correct link to the CBI law as I indicated rather than the Banking law.You might not be so quick with your arrogant lol's. Here ya go sorry for the arrogant lol http://www.iraqfinsecdev.net/index.php/publications/doc_download/228-03-cbi-law-no-56-of-2004-annex-a I got the wrong one Oops I thought it was funny that someone would construe the article 32 into that Wrong link Lol That was cbi bank law I copied and pasted what you said but I hit the first one on the list Wrong one It does talk about the currency issued for use in Iraq but I don't see that it is only for Iraq If you read the article 32 annex A on the other link You would see why that would be funny if some one would construe that to mean the currency was not to leave the country Cbi law 56 annex a article 32 is different that's for sure Since this remains in some doubt, of all the world's countries that have ReDenominated their currencies, and I have seen long lists of them on Dinarvets, have any of them required in-country currency exchange, ie. old for new? Or did most allow for overseas exchange through financial institutions/banks. How about it? I know many of you have the financial expertise to answer that question. If you google it and find out let us know Link to comment Share on other sites More sharing options...
WorkerBee Posted April 4, 2014 Report Share Posted April 4, 2014 Iraq has currency out of they country They know this would hurt what they are trying to do establishing their honor and respect and their credit rating their currency To do that is political suicide Look up citi worldlink they been making transactions in Iraqi dinar since 2006 Hate to tell you this but it seems Iraq has a long way to go in the honor and respect catagory... Governance: Iraq performs poorly on corruption indices: in Transparency International’s 2013 Corruption Perceptions Index, it was ranked 171st of 175 countries. - See more at: http://www.crossborderinformation.com/map/middle-east/iraq#sthash.Fc48Lxro.dpuf http://www.transparency.org/country#IRQ Link to comment Share on other sites More sharing options...
dontlop Posted April 5, 2014 Report Share Posted April 5, 2014 And ? That means what ? Hate to tell you this but it seems Iraq has a long way to go in the honor and respect catagory... Governance: Iraq performs poorly on corruption indices: in Transparency International’s 2013 Corruption Perceptions Index, it was ranked 171st of 175 countries. - See more at: http://www.crossborderinformation.com/map/middle-east/iraq#sthash.Fc48Lxro.dpuf http://www.transparency.org/country#IRQ 1 Link to comment Share on other sites More sharing options...
JayLay Posted April 5, 2014 Report Share Posted April 5, 2014 Hate to tell you this but it seems Iraq has a long way to go in the honor and respect catagory... Governance: Iraq performs poorly on corruption indices: in Transparency International’s 2013 Corruption Perceptions Index, it was ranked 171st of 175 countries. - See more at: http://www.crossborderinformation.com/map/middle-east/iraq#sthash.Fc48Lxro.dpuf http://www.transparency.org/country#IRQ Remember, it is Iraq. It's a given.... Link to comment Share on other sites More sharing options...
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