In Country RV

[NoviceInvestor]

I was wondering if there can be an in country RV only

[sandfly]

I DONT THINK SO, WHEN IT HAPPENS. IT WILL GO ALL AT THE SAME TIME

[NoviceInvestor]

Thank you SandFly

[DinarThug]

Thank you SandFly

OMG ! Whatever U Do - Don't Give Him Any More Thanks !

[captl1]

Thank you SandFly

Kinda like the pot calling the kettle black. Lol

[dontlop]

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

[ewingm]

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.

[sportfisher]

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).

[easyrider]

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

[DWitte]

I DONT THINK SO, WHEN IT HAPPENS. IT WILL GO ALL AT THE SAME TIME

THANKS

[Dinarian64]

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.

[gxr]

I hope the RV take off will have all 8 engines PLUS Jato! LOL

[dontlop]

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

[ewingm]

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. 

[pocono]

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.

[dontlop]

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

[pocono]

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.

[ewingm]

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. 

[dontlop]

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

[WorkerBee]

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

[dontlop]

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

[JayLay]

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....