yota691 Posted May 11, 2017 Report Share Posted May 11, 2017 Thanks Butifldrm... Abu Dhabi Islamic Bank converts nearly $ 60 million in four days at the auction sale of Iraqi currency BAGHDAD - A New World Tuesday May 9, 2017 It revealed data released by the Central Bank of Iraq, on Monday, Abu Dhabi Islamic Bank to impose its control over the currency auction around during the past four days, $ 58.3 million. And spoke of the data published by the Central Bank on its website on the results of the sale currency window, that "foreign banks accounted for the largest share of the sale of the currency window during the past few days," noting that "the Abu Dhabi Islamic Bank over the past four days the amount of $ 58.3 million to outside Iraq. " A number of bankers have pointed to the need for more transparent criteria to determine the reasons for the acquisition of foreign banks on the larger quotas. While the Transparency Association in Iraq, announced in a report, that "there is a distinctive discourse unlawfully, given to the branches of foreign banks operating in Iraq in the auction currency market at the expense of national banks." She added that "the branches of foreign banks get abnormal privileges where it has advantages in the auction currency market, without the form of its branches capital in Iraq is the proportion of three and a half percent of the Iraqi national banks capital, where the local National Bank is obliged with a capital of 250 billion dinars Iraqis, no more than two hundred million dollars, while the capital of branches of foreign banks is seven million dollars are not acting lending and credit and to extend facilities for Iraqi companies and local citizens, despite their enjoyment of quotas abundant within the auction. " 5 Quote Link to comment Share on other sites More sharing options...
Synopsis Posted May 11, 2017 Report Share Posted May 11, 2017 I find it very interesting that a foreign country is auctioning Iraqi Dinar for another foreign country's currency - in this case USD. How in the world could they do this? I could see exchanging Abu Dhabi currency for USD and vice versa for various reasons but converting IQD for USD? I wonder what the conversion rate was? If the conversion rate was 1,182 IQD = 1 USD (CBI rate), then 58.3 million USD was converted for 68.9 billion IQD. That is a lot of IQD! Hey, was any of this in the Lower Denominations - maybe time and future articles will tell! Talk about seed money (if the IQD revalues) to jump start the reconstruction in Iraq - WOWZERS!!! Doesn't this look suspiciously close to the IQD being traded internationally or is it just me? Maybe it is now...................... WOW, MOOLA NOVA!!! 11 1 Quote Link to comment Share on other sites More sharing options...
yota691 Posted May 11, 2017 Author Report Share Posted May 11, 2017 "the Abu Dhabi Islamic Bank is in Egypt 3 Quote Link to comment Share on other sites More sharing options...
Synopsis Posted May 11, 2017 Report Share Posted May 11, 2017 Just now, yota691 said: "the Abu Dhabi Islamic Bank is in Egypt Thank You, Yota!!!!!! And a Super Day to You!!! YO TA.....YO TA....YO TA....... To me, this news is even better! A foreign bank in another foreign country doing currency business in another foreign country's currency has got to be really good news! Hey, get a load of this bank's international presence! https://www.adib.eg/about-adib-egypt/international-presence Internationally traded IQD??? I dunno right now - we shall see! Maybe.................. WOW, MOOLA NOVA!!! 8 Quote Link to comment Share on other sites More sharing options...
235snack Posted May 11, 2017 Report Share Posted May 11, 2017 Maybe they know something, RV is coming and they are going to make a ton of money for the investment. 8 Quote Link to comment Share on other sites More sharing options...
Synopsis Posted May 11, 2017 Report Share Posted May 11, 2017 Just now, 235snack said: Maybe they know something, RV is coming and they are going to make a ton of money for the investment. I agree, 235Snack - why else would they even consider acquiring these quantities of IQD at 1,184 IQD = 1 USD or there abouts? 3 Quote Link to comment Share on other sites More sharing options...
mylilpony Posted May 12, 2017 Report Share Posted May 12, 2017 (edited) Abu Dhabi Islamic Bank adib.ae Abu Dhabi Islamic Bank is an Islamic bank based in Abu Dhabi city, in the United Arab Emirates. Wikipedia Headquarters: Abu Dhabi, United Arab Emirates CEO: Tirad Al Sheikh Mahmoud (2008–) Founded: May 20, 1997 Subsidiaries: ADIB (UK) Limited, More ADIB Iraq www.adib.iq In line with our mission to provide Islamic banking solutions to the global community, we are pursuing an ambitious growth strategy. In addition to our presence in the UAE, ADIB already operates a large branch network in Egypt – and we are currently in the process of extending our operations to several markets across the Middle East and beyond. Iraq is a key part of our international growth strategy – and we are the first UAE bank to have a presence in the country. For ADIB Iraq related inquiries, please email at adibiraq@adib.ae Edited May 12, 2017 by mylilpony 9 Quote Link to comment Share on other sites More sharing options...
SnowGlobe7 Posted May 12, 2017 Report Share Posted May 12, 2017 wow kitty like this 4 Quote Link to comment Share on other sites More sharing options...
Tonygrasso Posted May 12, 2017 Report Share Posted May 12, 2017 So help me out here cause it's 4:30 am where I am but didn't they just buy USD with IQD? That doesn't help the bank in case of RV. But maybe the CBI asked that bank to repatriate some of the local currency? Not sure they can do that but just thinking out loud with one eye open 2 Quote Link to comment Share on other sites More sharing options...
yota691 Posted May 12, 2017 Author Report Share Posted May 12, 2017 19 hours ago, yota691 said: "the Abu Dhabi Islamic Bank is in Egypt My bag as mylilpony stated main headquarters is in UAE Abu Dhabi Islamic Bank (ADIB) is one of the largest Islamic banking services organizations in UAE. The Bank's shares are listed on the Abu Dhabi Securities Exchange (ADX). ADIB provides financing, banking, and investing products and services for small and medium businesses, individuals, corporate and institutional customers. Abu Dhabi Islamic Bank has representative offices in the United Kingdom and Iraq. 6 Quote Link to comment Share on other sites More sharing options...
fnbplanet Posted May 12, 2017 Report Share Posted May 12, 2017 Abu Dhabi. I just like saying that out loud, 4 Quote Link to comment Share on other sites More sharing options...
blueskyline Posted May 12, 2017 Report Share Posted May 12, 2017 "not acting lending and credit and to extend facilities for Iraqi companies and local citizens, despite their enjoyment of quotas abundant within the auction. " Is this a capitalization (build up of currency) of an Islamic bank outside of Iraq ? 1 Quote Link to comment Share on other sites More sharing options...
blueskyline Posted May 12, 2017 Report Share Posted May 12, 2017 Thank You Yota . This was posted on March 06 . This is interesting after this new articles posting ..... Islamic banking transactions 06/04/2017 0:00 Baghdad / Al- Sabah issued the International Banking Academy d. Sadiq Rashid Al Shammari a book entitled "Islamic Banking" - Concepts and Applications -, which dealt with in four sections, the development of Islamic banking, and mechanisms of Islamic finance, as well as explanations of concepts and treatments Islamic banking, as well as the challenges and recommendations aimed at the success of the work of the banking Islamic. In the midst of the winds and storms of financial crises , most recently the year end of 2007 and the concomitant collapse of many financial and banking institutions , but Islamic banking has remained steadfast and strong in front of these storms, and played a vital role in moving the economic cycle of what formed Islamic finance operations from strong bumpers in front of wind storms impact The collapse of the fact that their investment portfolios are protected assets are real. Operational and operations with good returns for the economy through insurance products and to balance the economic and social (ie , achieve a balance between consumption and production) and securing employment opportunities for large segments of society. Shammari refers in his book that all projects initiated through the Islamic banks are linked to economic feasibility studies and technical. The author addressed the issue of Islamic banking products and what was said about the arguments of economists and forensic jurisprudence, as it has been focusing on the nature of each product in the framework of Islamic banking operations. The book chapter challenges facing Islamic banks , which often impede the progress of its work and identified seven main challenges is not to provide legal cover, lack of talent and qualified cadres, lack of banking tools and methods, the challenges of globalization. Double the funds of Islamic banks capital, weak coordination between the legitimate bodies of reference banks legitimacy and standardization, poor coordination and alliance between the Islamic banks. 0 3 Quote Link to comment Share on other sites More sharing options...
boosterbglee Posted May 12, 2017 Report Share Posted May 12, 2017 Makes one go.....what do they know that we don't? I like it......whatever it is! 4 Quote Link to comment Share on other sites More sharing options...
blueskyline Posted May 12, 2017 Report Share Posted May 12, 2017 "Shammari refers in his book that all projects initiated through the Islamic banks are linked to economic feasibility studies and technical. ". Very Interesting . 2 Quote Link to comment Share on other sites More sharing options...
Floridian Posted May 12, 2017 Report Share Posted May 12, 2017 Could someone please help me out here? This link shows that there is an Abu Dhabi Islamic Bank branch in Iraq. How do we know that it's not the branch in Iraq that "converted more than $60 Million in 4 days"? https://www.adib.eg/about-adib-egypt/international-presence " Iraq is a key part of our international growth strategy – and we are the first UAE bank to have a presence in the country. For ADIB Iraq related inquiries, please email at adibiraq@adib.ae" 2 Quote Link to comment Share on other sites More sharing options...
Officiallytook Posted May 12, 2017 Report Share Posted May 12, 2017 Quote Link to comment Share on other sites More sharing options...
WheresmyRV? Posted May 12, 2017 Report Share Posted May 12, 2017 This article has definitely raised my eyebrows! 1 Quote Link to comment Share on other sites More sharing options...
okane Posted May 12, 2017 Report Share Posted May 12, 2017 6 hours ago, boosterbglee said: Makes one go.....what do they know that we don't? I like it......whatever it is! I have a Muslim friend who told me a few months ago that his "sources confirm that now is the time to invest". I was on the phone so it wasn't a bank story. And to think that I could have waited until now and saved a decade of worry 7 Quote Link to comment Share on other sites More sharing options...
ChuckFinley Posted May 12, 2017 Report Share Posted May 12, 2017 I picked a great time to sign in and to see what is up. I did have a chance to read the posts. To me this is very BIG NEWS? Like Synopsis posted stated. It is very interesting that a foreign country is selling enough country's currency. What it find interesting is that it is at auction. . Let me check is that Adam? 4 Quote Link to comment Share on other sites More sharing options...
Laid Back Posted May 12, 2017 Report Share Posted May 12, 2017 The Abu Dhabi Islamic Bank is getting dinar for capitalization purposes. They're getting for an increases of the dinar exchange rate in the near future Go RV Go 2017 9 Quote Link to comment Share on other sites More sharing options...
sandfly Posted May 13, 2017 Report Share Posted May 13, 2017 Thanks yota 2 1 Quote Link to comment Share on other sites More sharing options...
yota691 Posted May 15, 2017 Author Report Share Posted May 15, 2017 Today ... the United Arab Emirates and the Lebanese banks transferred from Iraq $ 31.7 million 19 hours ago Last updated 07:31 PM BAGHDAD / Press tomorrow: the United Arab Emirates and occupied Lebanese banks, on Sunday, the first centers in the sale of the currency held by the Central Bank of Iraq window, and turned $ 31.7 million. The results showed the sale currency window on Sunday, and followed up by "Tomorrow Press" that "Abu Dhabi Islamic Bank occupied the order to participate in the sale of currency window banks by receiving a $ 14.5 million and followed by Lebanese banks in all of the Bank of Beirut and the Arab countries , winning 5.2 million and the Mediterranean Sea to $ 4.8 million and the Bank of the return of $ 3.4 million and the Bank of the Middle East and Africa , $ 2.2 million and the Bank Fransabank $ 1.6 million. " The results showed that "Iraqi banks classified the central bank in the second place where the National Islamic Bank ranked first among Iraqi banks and $ 6 million after Ceyhan bank $ 3.3 million Iraqi Islamic B2.3 million dollars." The data issued by the Central Bank of Iraq confirmed on 8 of May, Abu Dhabi Islamic Bank to impose its control over the currency auction around in 4 days only $ 58.3 million. 1 Quote Link to comment Share on other sites More sharing options...
DIAMOND Posted May 15, 2017 Report Share Posted May 15, 2017 On 5/12/2017 at 3:02 PM, Laid Back said: The Abu Dhabi Islamic Bank is getting dinar for capitalization purposes. They're getting for an increases of the dinar exchange rate in the near future Go RV Go 2017 thanks laid back, ya always have the words to say what is needed lol 2 Quote Link to comment Share on other sites More sharing options...
Laid Back Posted May 15, 2017 Report Share Posted May 15, 2017 1 hour ago, DIAMOND said: thanks laid back, ya always have the words to say what is needed lol You welcome DIAMOND. 1 Quote Link to comment Share on other sites More sharing options...
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