Jon S.

Very well said, young lady!!! Thank you!!

I transfer just like I do between my USD and IQD account. There are the usual wire fees that will come with the transfer outside of the bank and international but I haven't seen any specific approval process on my wires so I can't really comment on that, sorry.

It works the same way as when you transfer money between your USD and IQD accounts. When you log in to your account; 1. Click on "Account Operations" on the left side menu. 2. Click on the sub menu link "Money Transfer With Different Currency". 3. Using the "From Account" drop down menu, select which account you want to transfer money from. 4. Using the "To Account" drop down menu, select which account you want to transfer to. My international bank is listed in this drop down menu because I added it as a beneficiary. If your bank account is not listed after you successfully added the "Add External Transfer Beneficiary", I would suggest you contact Warka.

Yep. It has been that easy for me. As I said, I bank with one of the banks in the drop down list so it has worked fine. I can't speak for adding a bank that isn't listed in their drop down list of banks. You can believe it or not, that's up to you.

The same way that you transfer to and from your IQD and USD accounts. Your external account will be listed in the same drop down list.

Welcome to the forum. You will need to set up an "External Transfer Beneficiary". To set it up, click on the "Maintain Beneficiaries" link on the left side menu. Then click on "Add External Transfer Beneficiary". Complete the entire form and then click submit. After you submit it, you can follow up on the status by clicking on the "Follow Up Beneficiary Request" until it's approved. It usually only takes a couple days (when you have an account with a bank in their drop down list). I haven't added a bank that is not on their list so that may take a bit longer.

Not "they were" but "they are paying pretty good interest rates". 7% every 6 months and that is the truth. Continue to bank where you live and not receive anything above 1% a year, even on a CD. Most of us with Warka accounts are perfectly happy and not in the least bit worried. I have a debit mastercard and use it all the time with no problems. Just like any bank. Over the last few years, I have withdrawn only 6 months worth of interest which is more than the deposit I sent years ago.

There are some additional wire (and then IQD conversion) fees because you send your wire to and then from Commerzbank. Wire transfers (S.W.I.F.T) 1.External Wire Transfers $50 2.Inward Wire Transfers 0.3% Internal Transfers (Core Banking System) 1.IQD currency to IQD currency 0.115% 2.USD currency to USD currency 0.1% 3.USD currency to IQD currency 0.1% 4.IQD currency to USD currency 0.115% 5.From various provinces to Baghdad 0.115% http://warka-bank.com/index.php?427dacca3edd8203f5aceefbb96c6d2efc545ea6

Right... So any Dinar from Irak is a scam but not the dinar from Iraq... WOW!!! I was worried for a moment too.. I had to check my notes to make sure I bought the right one...

The budget is used for internal purposes (in Iraq) and not based on the value of their currency internationally. Do you budget your spending in your country based on the increase or decrease of your currency compared to other currencies? No, you don't. You will not find a change of rate in the budget unless they planned of paying for it with their budget and I would guarantee that isn't the plan.

Here's the article... Published Date: November 30, 2010 BAGHDAD: Iraq needs an investment of $100 billion under a plan to build a million new homes in the capital and meet a shortfall in residential property for its growing population, Baghdad's mayor said yesterday. An eight-month delay in forming a government after a March election has deterred many foreign developers from entering Iraq to take advantage of efforts to rebuild its capital, Saber al-Issawi told Reuters in an interview. They were afraid of the critical political situation, so there was some inaction, anticipation and waiting until the government is formed," Issawi said. Last week President Jalal Talabani formally asked Prime Minister Nuri al-Maliki to form a government, giving him 30 days to choose a cabinet from Shi'ite, Sunni and Kurdish factions. Issawi said that around 80 percent of the total figure would come from investors and 20 percent from the government. Baghdad has earmarked $1.5 billion for residential and infrastructure spending in 2011 but this figure has yet to be approved by the government and could be revised lower, he said. Iraq faces an acute shortage of houses after years of war and sanctions and needs 2-3 million new homes. Of the country's estimated 30 million population, some 7 million live in Baghdad. Baghdad will invest $10 billion over 10 years to build 150,000 homes in the capital's sprawling Sadr City slum, one of the main projects the government is focusing on. Sadr City is home to almost half of Baghdad's population. Issawi said the government would hold a tender on Dec 9 to build 82,000 homes in the district from 11 short-listed foreign developers. Issawi said the government is also looking to spend around $850 million on giving the city a facelift ahead of the Arab League Summit to be held in March 2011, the first major event Iraq is to host since the invasion. "It is a chance to develop some of Baghdad's face," he said. Some $350 million will be spent on renovating seven former luxury hotels in the city, $300 million on streets and $200 million on the main road into the city from Baghdad's international airport, Issawi said. The road, known by many Iraqis as the "Route of Death," was frequently targeted by militias during the height of the country's sectarian violence in 2006-07. The government hopes a sharp fall in violence in the past two years, and a new investment law allowing foreigners to own land for housing projects, will entice foreign investors. Iraq's National Investment Commission said earlier in November it had signed a memorandum of understanding with a South Korean group to build 500,000 homes all over Iraq. Executives from Gulf Arab companies told the Reuters Middle East Investment Summit in October that while they see growing opportunities in Iraq, they retained a degree of cautiousness that slows plan execution.-Reuters

Ah, much better... I figured that it must be from google translator so I translated it back to arabic to make it clearer... أنا سمعت هذا من خلال بعض الخزانة fooolks. الإدارة للافراج عن ما هو مطلوب لرف يسأل لمجرد مصدر بلدي وقال انه أكد هذا مع bahgdad ليكون صحيحا

LOP's only happen when there is Hyperinflation. Iraq will not LOP plus the IMF and UN would not allow it and continue to provide them loans. I hope the link below helps also. http://en.wikipedia.org/wiki/Hyperinflation In economics, hyperinflation is inflation that is very high or "out of control". While the real values of the specific economic items generally stay the same in terms of relatively stable foreign currencies, in hyperinflationary conditions the general price level within a specific economy increases rapidly as the functional or internal currency, as opposed to a foreign currency, loses its real value very quickly, normally at an accelerating rate. Definitions used vary from the International Accounting Standards Board´s a cumulative inflation rate over three years approaching 100% (26% per annum compounded for three years in a row) to Cagan´s (1956) "inflation exceeding 50% a month." As a rule of thumb, normal monthly and annual low inflation and deflation are reported per month, while under hyperinflation the general price level could rise by 5 or 10% or even much more every day.

It's funny how we all ready these translated articles differently (not to say who's wrong or right). I read into this article that the two class of dinars (those with the 3 zero's and those without) will need to coexist (IMO for an undisclosed timeframe).

Thanks Eddinar. This is very logical and makes perfect sense. I'd say common sense but we all know it's not that common... I agree, especially with your logic, that the RV will happen sooner rather than later. Thanks again.

Nevada State... I'll be on my way shortly. Hold the door open for me because I'll be running out of CA and don't want to stop even to get the door. How many of you that live in Calif.will move from Califorina after the RV? [/b] Funny but a majority of the people in CA now were born in another state. Be careful Spok1, you don't want FL to end up like CA... too crowded and then your state turns blue..

Thanks for the call everyone! Like to hear the truth, honesty, facts and common sense!

Answer to the above report

Probably why we keep seeing conflicting articles

The link opened for me also and the conflicting stories continue

I like these two parts.... Lastly, I would like to address the subject of my whereabouts or should I say, my location. I awoke this early morning (Thursday) to find my another site email inbox filled with many questions and one of the topics was “Are you actually in Iraq?”. I would like to finally set the record straight with all the confusion. I would like to make it publicly known that “YES”, I am in Iraq. I gathered from the emails that I read that some may be saying otherwise and I would like all of my loyal followers and readers to know that I am indeed in Iraq. For security reasons I am not revealing what kind of position I hold here in Iraq only that I am here. I have absolutely no incentive, motive or agenda to state otherwise. I will not be repeatedly answering this same question again as I feel my word is good enough. And.... Don't forget to Join the mailing list.

Take in what makes the most sense and is realistic to you. Remember... Anyone providing a date and rate has 1 possible day in all these years of hitting it on the head. Anyone stating that it will not happen each day will only be wrong on 1 day (which is easier to say that they are always right) and when that day happens, I doubt that any of us will care to call that person out. Enjoy the fun!

Iraq..... "The only consistency is inconsistency"

Maybe that's why Obama and Biden just sent their staff person and ambassador Jeffrey to visit the Kurds this week? That would be interesting.... Hmmm... :

Oops, you're right. Thanks for the correction.