The Recovery Of The Iraqi Dinar !

[Goggles]

2 hours ago, DinarThug said:

Amer said that "the liberation of Iraqi cities from the grip of" terrorist "will affect the high degree of classification, and hoped to be achieved during the second half of 2018, which would increase the attractiveness of foreign investment, which will achieve economic stability followed by stability in public matters that Will be reflected on the economy and income of the citizen 
 and the family. "

Second half of 2018 is about July 1st  for me. Probably is for most in my country. 

[presence]

Greetings DV. Thanks Thugs, for bringing this over, and everyone else for contributing..

 

The last 12 months have certainly been escalating in progress towards the removal of the artificiallly imposed low rate of the IQD. Since the elimination of the dasholes, there have been more and more articles with the words: 'International'; "banking SWIFT codes", "audits" (by KPMG no less) and the continual fight against fraud and corruption. Each and every day brings Iraq closer to providing a safe and secure environment for investors to place their resources. 

 

Yota691's avatar of the roller coaster certainly expresses some of the emotional ups and downs I've felt since taking an interest in this 'exotic currency', and honestly believe this is our year. 

 

On a side note, the person giving many of the negs in this thread should srart to look inward, or at least have their eyes checked for color blindness.

[NEPatriotsFan1]

Looks like someone just wanted to come pee in our Wheaties this AM....... The Ruby Fairy 🧚‍♀️ was hard at work last night 

[pokerplayer]

1 hour ago, NEPatriotsFan1 said:

Looks like someone just wanted to come pee in our Wheaties this AM....... The Ruby Fairy 🧚‍♀️ was hard at work last night 

 

 

Your not kidding NEP. Ok I evened you all out, anyone who recieved a Ruby from the red baron recieved an green one from me. 

 

Go RV ! Let it be so we can all move on with a diversity of plans which will give great riches to family and friends for generation to come !!

 

   pp

[Integrativedoc]

1 hour ago, NEPatriotsFan1 said:

Looks like someone just wanted to come pee in our Wheaties this AM....... The Ruby Fairy 🧚‍♀️ was hard at work last night 

Gotcha for 1 emerald NEP

[3n1]

 well lets go then ,  I vote to get the "so called " exchange rate powerful now .. 

[Big_J]

GE DT AND DV. 

[jmartin1145]

17 hours ago, presence said:

Greetings DV. Thanks Thugs, for bringing this over, and everyone else for contributing..

 

The last 12 months have certainly been escalating in progress towards the removal of the artificiallly imposed low rate of the IQD. Since the elimination of the dasholes, there have been more and more articles with the words: 'International'; "banking SWIFT codes", "audits" (by KPMG no less) and the continual fight against fraud and corruption. Each and every day brings Iraq closer to providing a safe and secure environment for investors to place their resources. 

 

Yota691's avatar of the roller coaster certainly expresses some of the emotional ups and downs I've felt since taking an interest in this 'exotic currency', and honestly believe this is our year. 

 

On a side note, the person giving many of the negs in this thread should srart to look inward, or at least have their eyes checked for color blindness.

 

[NEPatriotsFan1]

I got your back Presence and jmartin1145

Edited March 14, 2018 by NEPatriotsFan1

[jmartin1145]

Just now, NEPatriotsFan1 said:

I got your back Presence and jmartin1145

Thanks NEPatfan. I didn't realize I could change the sign back to a emerald. Thanks for having my back though.

[Synopsis]

2 minutes ago, jmartin1145 said:

Thanks NEPatfan. I didn't realize I could change the sign back to a emerald.

 

Yeah, JMartin1145, it didn't always used to be that way. I had mistakenly on occasion fat fingered the ruby on my cell phone much to my chagrin. I am SOOOOO Glad there is now the feature to unselect and then select!

 

Go Moola Nova!

[DinarThug]

LINK

Iraqis lose 77% of the value of their money in the siege

 

22nd March, 2018 by Shatha Khalil
Defines economic compactness as "holding money and imprisoning it from circulation." It may be that money is buried or kept in boxes inside the house and is not taken out to trade in money and capital markets. 

The prevalence of the phenomenon of compactness in developing countries is due to the weakness of the banking culture, which generates a vicious circle of forces that are opposite to the movement of economic and social development. Data of underdevelopment widen the phenomenon of stagnation, which leads to a reduction in the volume of positive savings, And the economic and social development movement necessary for the development of Third World countries. 

One of the negative effects of hoarding and its impact on economic activity in developing countries is the division of income according to economic considerations into two parts: a section that spends on consumer requirements, and another goes to savings. If, in the short term, income is assumed to be constant, the individual can only increase his savings by reducing his consumption expenditure.

In Iraq, the governor of the Central Bank Ali al-Aalak said that the phenomenon of financial strangulation outside the banking system is dangerous, as 77% of the currency traded outside the system of the banking system is in a state of exhaustion. In order to employ these resources and pay them towards savings and the direction of the banking sector, And wide at all levels. " 

The economic expert Raed Fahmi said that "securing the internal resources and mobilizing them in the issue of savings is very important, and this constitutes a great danger and concern for the funds in the case of hoarding."  He pointed out that "the state of compactness means a lack of confidence in the banking sector in attracting deposits, Is not only a financial and administrative challenge but also harms the economic reality and the security reality and the political reality, and here highlights the role of banks in enhancing the confidence of citizens to deposit their money in banks.

The director general of financial operations and debt management in the Central Bank of Iraq, Dr. Mahmoud Dagher, said that the lack of confidence of the citizen banks face all backward countries, including Iraq, where private banks grew in an unstable situation and despite all the changes and improvements, but banks are still unable On the confrontation, and we are still witnessing the dominance of government banks such as Rafidain and Rashid, on most deposits and banking assets and therefore this created a dilemma for private banks to play their part. 

Dagher pointed to "bank irregularities of the instructions of the Central Bank, especially in the sale of the dollar, pointing to the transformation of Iraq into a market economy, which of its conditions supply and demand. He said there is a high demand for the dollar because of the instability can not be restrained, pointing out that the former was the central bank before 2014 covers each quantity and now we do not cover the quantity required by the importers or who have assets or external transfers this pressure, the economy is due lack of confidence The citizens of the banks to the following: - 

The non-payment of the government dues private sector, contractors and farmers, despite the passage of long years to maturity, in addition to the lack of cash liquidity in banks, especially the civil ones, when reviewing the citizen to withdraw his money is shocked by the inability of the bank to meet its dues.

• The Iraqi citizen loses about 5% of his money because of exchange rate difference once deposit money in dollars in his bank account and then withdrawn, and this is a great suffering it, and the central bank to monitor the private banks and government in the installation and set a fixed ceiling for the amount of exchange foreign currency but note that there Manipulation and corruption in this matter. 

• The most serious situation faced by citizens with private banks is that they close and close their doors without warning and without any legal accountability to them, so we see that most citizens have fled dealing with private banks. 

• The delay in the service and not keep pace with some banks to modernity and routine in the private banking system, which was supposed to overcome, and these things have their role and impact. 

• Lack of awareness among individuals of the importance of a private banking sector. This view means the need to expand the scope of financial coverage, which means the delivery of banking services to all citizens, whether in the government or private sector.

The financial and economic adviser, Dr. Mazhar Mohammed Saleh, said that the manifestations of the compactness in Iraq take different dimensions, namely: self-compactness such as gold, jewelry and precious valuables, and the Iraqi dinar, which accounts for 77% of the currency exported outside the Central Bank of Iraq. 

The stifling weakens the strength of the national economy by diverting its savings, which support the income and production dues, to stumbling leaks, in the income cycle, or weaken production opportunities and sustain economic activity.  Here is the demand for cash or money-like wealth for the purpose of hedging "uncertainties".

The history of the Iraqi banking has witnessed during the last century the phenomenon of exchanging gold in paper currency by placing gold as a hostage at the jeweler, or moneylenders for a riba interest, as the demand for money here helps through the guarantee of gold by extracting formal money from the cycle of monetary leaks to the spending cycle, Economic, but with illegal market instruments, and thus demand for cash for purposes of transactions but for cycles of income is not necessarily complete and does not lead to real economic balance.

Saleh pointed to an important event in the history of the Iraqi economy, in the sixties of the last century, was established a government bank called the Mortgage Bank / a legal and official alternative to the phenomenon of moneylenders and the whole market illegally, as it provides loans guaranteed gold guaranteed by the Bank of mortgages, To keep the gold held by the Borrower until the maturity of the Loan or to pay for interest charged by the Borrowing Bank to cover the operating costs and part of the risk of fluctuating the value of the same security of the jewelery and gold bars occupied.  Saleh highlights the bank's cancellation at the beginning of the 1970s for unknown reasons. 

Banks remained in a semi-banking relationship with customers in the provision of services, as bank funds or personal bank vaults remained available to citizens and available for use within each bank, especially government, including Rafidain and Rashid. The citizen can keep his precious resources and important documents in safe places with 100% safety, for a monthly or annual fee.  The absence of this safe service cut off one of the bonds between the citizen and the bank as an entity that preserves the wealth of the society and strengthens the connection between the citizen and the bank.

Saleh called on the Iraqi Central Bank to directly study, granting vacation Iraqi bank mortgage, pledge of gold and jewelry to meet cash (which boosts bank credit and converts the semiconductor storehouse of wealth to a guarantor in the generation of power demand for money for the purposes of transactions and support economic activity.  Promised this thing one institutional channels To eliminate the phenomenon of compactness with money equivalent, gold and other, and maximize the atmosphere of confidence between banks and citizens, to receive their gold jewelry and other valuable valuables in the vaults of banks at affordable wages.

The citizens demanded the establishment of a deposit guarantee company to reassure their bank deposits of the risks of banks 'exposure and failures; because it reduces the demand for liquid cash as a catalyst, which is an unstable, highly concerned function that is highly correlated with the interpretation of uncertainty in individuals' demand for cash in its rolling form Or quasi-money, and to prevent the entry of the cycle of income and deprivation cycle of economic activity.

[DinarThug]

LINK

Iraq progresses to four Gulf states in the classification of total money supply (N 1)

12:50 - 25/03/2018  

 

Financial data showed on Sunday that Iraq is providing a large number of Arab countries, including four Gulf states, in the classification of total money supply (N1).

Money supply (N1) includes money circulating among individuals plus demand deposits (ie, total current accounts in the banking system).

Iraq came in the 49th place in the world with a value of about 62.0 billion dollars, ahead of Qatar which ranked in the sixth place, Kuwait ranked 60th, Oman ranked 79th, Bahrain 85th.

It also ranked Iraq ahead of other Arab countries such as Egypt, Jordan, Tunisia, Lebanon and Syria.

Globally, China recorded the highest level of total money supply (N1) at the end of 2017 by about 8.16 trillion dollars, followed by Japan by 6.43 trillion dollars, then the United States by 3.63 trillion dollars, and Germany by about 2.31 trillion dollars.

[DinarThug]

LINK

Special training courses for Zain Islamic Bank for Investment and Finance

 

 24th March, 2018

Within the plan to develop the bank of Zain Islamic Iraq comprehensive to develop its services and the introduction of modern systems according to the standards of the Central Bank of Iraq, a wide selection of employees of the Bank participated in various external and internal courses.

Topics included corporate governance, banking awareness and public protection, the inbound and outbound bank remittance cycle, and the credit information exchange session held at the Central Bank of Iraq Studies and Research Department.

The external participants were in the anti-money laundering program, the US tax compliance law, electronic banking transactions, and the law against bank information security crimes organized by the Central Bank of Iraq and located in Jordan.

The bank confirmed the continuation of courses for employees on the bank's comprehensive banking system in Lebanon for the purpose of upgrading the level of working cadres and keeping pace with the banking development in accordance with high quality standards.

He added that under the terms of the agreement of the Bank of Zain Islamic Iraq for investment and finance with IQDC consulting for the international quality system ISO (ISO 9001: 2015) to obtain the international quality certificate ISO has been completed the second cycle of the ISO certification cycle (building documents and documents and design quality system in accordance with the standard ISO10013 ).

[Half Crazy Runner]

49 minutes ago, DinarThug said:

obtain the international quality certificate ISO has been completed the second cycle of the ISO certification cycle 

 

Some really good things mentioned in that article! I especially like things that have the word international..

Thanks Thug!!

[DinarThug]

1 hour ago, Half Crazy Runner said:

I especially like things that have the word international..

 

Like IHOP - Pass The Syrup .......

 

 

 

 

And The HCL .......

 

     

[Pitcher]

“Pass the syrup”...... and the HCL

 

I just spewed my coffee lmao

 

Thanks for that laugh, it was worth the clean up!!

[DinarThug]

5 hours ago, DinarThug said:

the US tax compliance law, electronic banking transactions, organized by the Central Bank of Iraq

 

I Wonder Why They’d Be So Concerned About US Tax Compliance ...

 

     

[siberian_shaddow]

10 minutes ago, DinarThug said:

 

I Wonder Why They’d Be So Concerned About US Tax Compliance ...

 

     

Now that makes you go HHHMMMMMM

[blueskyline]

3 hours ago, DinarThug said:

 

I Wonder Why They’d Be So Concerned About US Tax Compliance ...

 

     

Perhaps for us folks who plan on re-investing back into Iraq ??? .Thanks Thug . GN DV's 

[DinarThug]

Banknotes withdrawn from circulation and have no economic value

To our customers ...

According to the Central Bank of Iraq (No. 9/4/125) dated 14/3/2018.

We would like to inform you that there are non-genuine banknotes issued by central banks, but they are withdrawn from trading and have no economic value substituting them. These papers are used by the weak souls in the fraud and fraud of citizens by soliciting them for replacement in Iraqi dinar or US dollar and in some cases replaced With gold jewelry on the pretext that they constitute a great financial gain and an opportunity to invest, for example (ruble Belarusian) of you to be careful and careful in dealing with these notes.

Posted By: admin Date: 25-03-2018 Time: 02:37:30 PM |

LINK

[DinarThug]

https://cbi.iq/news/view/647

(IFRS 9 Financial Instruments) for the period from
8-2018 to 4/12

 

 

March 26, 2018

To the government / private banks and authorized financial transfer companies all the cycle
( IFRS 9 Financial Instruments )

 

 

Translation ...

 

Government / private banks and authorized financial transfer companies
M / session) Financial Reporting Standard No. (4) Financial Instruments

The Center for Banking Studies presents ...

Standard No. (1) of the important international standards is the financial reporting counter in the elimination of fluctuations in
Which is the result of changes in the risk of an increase in the liability to be measured at fair value
This center announces a training cooperation with Ernst & Young International Audit Company to hold a training course from
2. Explanation Classification and measurement bases for this standard and the choice of principal and cash flows
To discuss the requirements for impairment of financial instruments and the mechanism for measuring expected loss of income and the implications
On banks and hedge accounting, as detailed below
1. Terms of nomination: - Related staff.
The Central Bank of Iraq / Center for Banking Studies
Al Rasheed Street / Second Floor.
Name of Lecturer: - Foreign Expert / International Audit Company Ernst & Young.
Course language: - Arabic language
You will be able to nominate your employees for a work related relationship.

(US $ 600) per participant we are authorized to deduct from your open dollar balances
You can send your name by e-mail to the Center for Banking Studies
With the submission of the nomination books by the official post and then by the program program.

[DinarThug]

https://cbi.iq/news/view/644

A training program for the granting of a certificate of Certified Specialist in Combating Money Laundering and Terrorism Financing (ACAMS) for the period from 4 / 29-2018 / 5/3

26th March, 2018

 

To the government / private banks and authorized financial transfer companies
All training programs (Certified Specialist in Combating Money Laundering and
Terrorist Financing ( ACAMS ) ... click here  

 

Translation ...

 

To / government and private banks and authorized financial transfer companies
M / training program) Certified specialist in combating money laundering and financing terrorism
uncle
The Center for Banking Studies presents ...
The phenomenon of money laundering has become a threat to the global economy in general and to governments in a manner
Especially through corruption crimes that contribute to deepening the seriousness of this phenomenon by dealing with the network
Organization across borders.
In line with international efforts to combat and encircle this crime, the Center for Banking Studies is announcing
In cooperation with Iraqna for Economic, Management, Training and IT Consultancy
Training for the award of a certificate of certified specialist in the fight against money laundering and financing terrorism for the period of
- * / e /%. }. The participant will receive the certificate of a certified specialist in combating money laundering and financing
Terrorism is the highest international professional certificate in the fight against money laundering and terrorism financing
The holder of specialized status in all aspects of anti-money laundering and under the details below:
Candidates: - Relevant staff.

Place of the session: -: - Central Bank of Iraq / Center for Banking Studies located in the street
Rasheed / Second Floor / 9 am.

Name of Lecturer: - Foreign Expert / Iraqna Company for Economic Consultancy, Management, Training and Technology
the information

Course language .- Arabic language

Please note that your employees are nominated for work related to the above subject
(US $ 1,000) per participant we are authorized to deduct from your accounts in US Dollars
In this bank and in the absence of accounts of banks open in the Central Bank authorizes another bank to pay
The wages of training terminated and paid by you to that bank «and the Central Bank of Iraq and you can in principle
Send the names of your candidates by e-mail to the Center for Banking Studies
Nomination by official mail is valid before the start of the program. Acceptance of nominations is based on precedence
Book nomination

With appreciation

[DinarThug]

https://cbi.iq/news/view/645

Course (Accounting Standards in Islamic Banks)
for the period from 4 / 22-2018 / 5/3

 

 

March 26, 2018

 
To / government and private banks and financial transfer companies and exchange
all the course (accounting standards in Islamic banks ) 

 

 

Translation ...

 

To / government and private banks and all financial transfer and exchange companies
"Accounting Standards in Islamic Banks"

This Center, in cooperation with the Consultant Company and the Vocational Trainer, announces the establishment of a training course on the subject
Accounting Standards in Islamic Banks (for a period of 6 years)
As part of an integrated training program on Islamic banking. A range of courses will include advertising
The trainees who complete (5 + 1) training hours within this specialization will be awarded a diploma
A professional accredited by the Center for Quality Assurance and Quality Control and the Ministry of Foreign Affairs and Expatriate Affairs in the Kingdom
In addition to the certificate of the same course approved by the same authorities and according to the conditions
Below:
1. Nomination requirements: - All employees whose work is related to the subject of the course
Place of the session: - Central Bank of Iraq / Center for Banking Studies in Al-Rashid Street /
second floor.
Lecturer: - Foreigner / Consultant and Professional Trainer Company.
Course Language: Arabic Language.
The subscription fee (+ + +) ($ 1.00 per participant) is valid for us to deduct
Of your accounts in dollars open with this bank and you can start sending your candidates names by mail
(E) and (f) and notify your employees of attendance at the specified time and place to be determined
From us right.
Please see ... with appreciation.
A6

[DinarThug]

https://cbi.iq/news/view/646

The course (Murabaha and Murabaha for the purchase order) for the period from 15-2018 to 4/19

 

March 26, 2018

To / government and private banks and financial transfer and exchange companies
( Murabaha and Murabaha )

 

 

 

Translation ...

 

To / government and private banks and all financial transfer and exchange companies
M / session "Murabaha and Murabaha for the purchase

This center, in cooperation with the Consultant Company and the Vocational Trainer, announces the establishment of a training course on formulas
Islamic finance (Murabaha and Murabaha for purchasing) for the period from 6% to 4/1%
The course is part of an integrated training program on Islamic banking
The courses will be advertised and sold to the trainee who will complete the course. (16) training hours within this
Specialization: A professional diploma from the Center for Accreditation and Quality Control and the Ministry of Foreign Affairs
Expatriates in the Hashemite Kingdom of Jordan in addition to the certificate for the same course and approved by the same authorities
And according to the conditions below:
Candidates: - All employees whose work is related to the subject of the course
Place of the session: - Central Bank of Iraq / Center for Banking Studies in Al-Rashid Street /
second floor.
3 "Lecturer: - Foreign expert / consultant company and professional trainer.
Course language: - Arabic language.
The subscription fee is US $ 1.6.8 per participant (US $) + we are authorized to deduct

Of your accounts in dollars open with this bank and you can first send the names of your candidates by mail
And inform your employees of the time and place to be determined