Banking expert: the withdrawal of Iraq from Chapter VII would give freedom to the Iraqi banks in dealing with international banks

[yota691]

Banking expert: the withdrawal of Iraq from Chapter VII would give freedom to the Iraqi banks in dealing with international banks

5.1.2012 | (Voice of Iraq) - add comment -

Baghdad (news) said banking expert Mohsen Ali, to remove Iraq from under Chapter VII has become necessary, especially after the return of Iraq to its regional and international levels, because it would give freedom to the Iraqi banks in dealing with international banks. Ali (of the Agency news) said on Tuesday: Iraq is still shackled to item VII by the UN, thus affecting the work of Iraqi banks being given a bad reputation in its external and international levels, which led to the rejection of international banks to deal with Iraq in their transactions through foreign remittances. He added that the withdrawal of Iraq from Chapter VII became urgent need at the present time, especially after the return of Iraqi relations with foreign countries with reservations about Iraq as a result of the policy of the former regime as a state of Kuwait, Iraq in order to give full freedom to act on his money and bank transactions with the Iraqi World.

Read more: http://www.sotaliraq.com/mobile-news.php?id=54238#ixzz1tbv4ruL9

[Rubberband King]

Awesome find Yota!

Leggo RV!

[R Veyron]

I predict that the day Chapter 7 is lifted will be a good day.

[mrref]

I predict that the day Chapter 7 is lifted will be a good day.

No joke, wow, did you figure that out all by yourself....

[SPRAYERDUDE]

Don't forget to exit Chapter VII fully and be internationally traded, Iraq must have a Transparent Internationally Trade-able Currency. This means they have to finally put their cards on the table and show the countries Real Value and finally dropping the ridiculous Program Rate / "Dirty Float". I feel the monetary change will be the last piece of the puzzle and will be a result of all other Chapter VII issues being resolved. Thanks for the post Yota !

[hollywood7]

No joke, wow, did you figure that out all by yourself....

Yes he did mister know it all,beat it **** wad,how about you analize something, anything make your self use full as appoosed to being derogitory

[Sun Devil]

Yes he did mister know it all,beat it **** wad,how about you analize something, anything make your self use full as appoosed to being derogitory

Lighten up.

Thanks for the post, YOTA.

[rsskelton]

Cool beans! Another great find Yota! Just in case no one else has said it, I predict that the day Iraq is released from chapt 7 will be a great day!

RSS

[mrref]

Yes he did mister know it all,beat it **** wad,how about you analize something, anything make your self use full as appoosed to being derogitory

Easy Mr Hollywood, I really don't think I was directing anything towards you so cool it....For your information I was just joking around....

Edited May 1, 2012 by mrref

[The Machine]

Easy Mr Hollywood, I really don't think I was directing anything towards you so cool it....For your information I was just joking around....

I got your joke .... and evened you out buddy

Hey hollywood , you think in 3,000 posts mrref has analized nothing ... get a grip

btw what do you bring to this forum besides a bad attitude

[Roadrunner]

Good find Yota. Plus 1

Roadrunner

[MyLadiesDaddy]

Banking expert: the withdrawal of Iraq from Chapter VII would give freedom to the Iraqi banks in dealing with international banks

5.1.2012 | (Voice of Iraq) - add comment -

Baghdad (news) said banking expert Mohsen Ali, to remove Iraq from under Chapter VII has become necessary, especially after the return of Iraq to its regional and international levels, because it would give freedom to the Iraqi banks in dealing with international banks. Ali (of the Agency news) said on Tuesday: Iraq is still shackled to item VII by the UN, thus affecting the work of Iraqi banks being given a bad reputation in its external and international levels, which led to the rejection of international banks to deal with Iraq in their transactions through foreign remittances. He added that the withdrawal of Iraq from Chapter VII became urgent need at the present time, especially after the return of Iraqi relations with foreign countries with reservations about Iraq as a result of the policy of the former regime as a state of Kuwait, Iraq in order to give full freedom to act on his money and bank transactions with the Iraqi World.

Read more: http://www.sotaliraq.com/mobile-news.php?id=54238#ixzz1tbv4ruL9

Ya see Keep, no matter what excuses they put with it, they wont rv without the removal of ch 7.

I'm not as educated as you in this investment at all. But I do know people and there has been

an underlying theme in this for the last two yrs, Get as far away from Saddam and his memory as

possible.

[hoopdog]

Problem with this article is that we all know that it's important for Iraq to be released from chapter 7, that part is a no brainer. We have known this for a long time now. My biggest concern is that they have to do what's necessary to be released, it's not going to happen on its own. So when are they going to stop talking about it and start doing it? That could literally be our million dollar question.

[mrref]

I got your joke .... and evened you out buddy

Hey hollywood , you think in 3,000 posts mrref has analized nothing ... get a grip

btw what do you bring to this forum besides a bad attitude

Thank You....

[Maggie123]

Thank You Yota! Great Article

So this confirms that while they could RV while under chap 7, it wouldn't do them any good because of the international "perceptions" other countries would still have of them. They would not want to deal with Iraqi's banks while under sanctions.

I know lot's of people have been saying this for along time... It's just good to see it confirmed by them, right out of the horses mouth, so to say.

We are getting so close, they have been pushing hard to get out. There isn't that much left to do. So as our RodandStaff would say "come on boys, get er done"

[truthful1]

Don't forget to exit Chapter VII fully and be internationally traded, Iraq must have a Transparent Internationally Trade-able Currency. This means they have to finally put their cards on the table and show the countries Real Value and finally dropping the ridiculous Program Rate / "Dirty Float". I feel the monetary change will be the last piece of the puzzle and will be a result of all other Chapter VII issues being resolved. Thanks for the post Yota !

They have an internationally traded currency....its called the dollar and they have billions from oil sales. what makes you think 1166 is not the true rate?? Its came down from 3000:1....and has slowly made its way 1166. Iraqs monetary policy continues to pump more dinar into circulation. you can find that on the transparent financial indicators under statistics on the cbi site. how can iraq signifcantly increase the rate...when they continue to balloon the base money???

Edited May 1, 2012 by truthful1

[zigmeister]

They have an internationally traded currency....its called the dollar and they have billions from oil sales. what makes you think 1166 is not the true rate?? Its came down from 3000:1....and has slowly made its way 1166. Iraqs monetary policy continues to pump more dinar into circulation. you can find that on the transparent financial indicators under statistics on the cbi site. how can iraq signifcantly increase the rate...when they continue to balloon the base money???

I wonder how much they are really pumping out in circulation. I would think by pulling the dinar in, and increasing dollars out on the street it might strengthen the dinar. Because the dinar is loosing ground with the dollar it could mean they are doing the opposite, but then I have to wonder why? They complain about it all the time, but they don't seem to be actively interested in the strength of the dinar at all, and why?

[truthful1]

I wonder how much they are really pumping out in circulation. I would think by pulling the dinar in, and increasing dollars out on the street it might strengthen the dinar. Because the dinar is loosing ground with the dollar it could mean they are doing the opposite, but then I have to wonder why? They complain about it all the time, but they don't seem to be actively interested in the strength of the dinar at all, and why?

Thats exactly my train of thought. if, theyve been drastically reducing dinar.........the demand would be much higher and the price at 1166 would be very stable. Instead the rate in the market is around 1300 and the cbi is grasping at straws to stabilize. theyve thoughtof discontinuing auctions at cbi.. and have the private sector do the auctions. theyve thought of rebalancing their foreign currency holdings, diversify with more euros to offset the dollars effect. we shall see what they do......the good news is the goi and parliament doesnt want to delete the zeroes yet.....but then ive read the finance committee is settting up to do it. so..once again we are in the dark and just have to wait it out as usual.

[rightsonword]

Yes he did mister know it all,beat it **** wad,how about you analize something, anything make your self use full as appoosed to being derogitory

Don't let these people get you down. They have cliques and protect their own. The mrref was totally in the wrong. You have not responded in the best way, but it's understandable that you did.

[truthful1]

When chapter 7 is lifted, it will be interesting to see if the dinar is picked up again and traded by the banks...........

[bamagirl]

Cool beans! Another great find Yota! Just in case no one else has said it, I predict that the day Iraq is released from chapt 7 will be a great day!

RSS

Yea....what he said!! Awesome Yota!

[unirod]

When chapter 7 is lifted, it will be interesting to see if the dinar is picked up again and traded by the banks...........

Truthful,

There are other ways to make money in Iraq than just speculation on the Dinar. The ISX is going to explode beyond expectation when chapter 7 is lifted.You do see that don't you Truth? There is an entire middle class in Iraq ready to mingle internationally for goods and services. 1166 is not the Real Value of the Dinar, You do see that don't you Truth?

[zigmeister]

Thats exactly my train of thought. if, theyve been drastically reducing dinar.........the demand would be much higher and the price at 1166 would be very stable. Instead the rate in the market is around 1300 and the cbi is grasping at straws to stabilize. theyve thoughtof discontinuing auctions at cbi.. and have the private sector do the auctions. theyve thought of rebalancing their foreign currency holdings, diversify with more euros to offset the dollars effect. we shall see what they do......the good news is the goi and parliament doesnt want to delete the zeroes yet.....but then ive read the finance committee is settting up to do it. so..once again we are in the dark and just have to wait it out as usual.

Agreed. However I can't help but explore why they seem to be doing nothing but the same. One possibility I thought of, if they let the dinar keep going on its downhill track, they can pull it in at much lower rate, and in Iraq charge a good percentage for the transactions. People may say Shabibi is an honorable man, but we must never forget he is a banker, and bankers make money period.

[cooked]

They have an internationally traded currency....its called the dollar and they have billions from oil sales. what makes you think 1166 is not the true rate?? Its came down from 3000:1....and has slowly made its way 1166. Iraqs monetary policy continues to pump more dinar into circulation. you can find that on the transparent financial indicators under statistics on the cbi site. how can iraq signifcantly increase the rate...when they continue to balloon the base money???

I wish I could find the art, but I remember reading a quote from the CBI that stated they were buying dinar from the street with USD. I read this about 5-6 months ago but can't find it. It was from a reputable source. Who knows for sure what they are doing? At least I don't.

[zigmeister]

I wish I could find the art, but I remember reading a quote from the CBI that stated they were buying dinar from the street with USD. I read this about 5-6 months ago but can't find it. It was from a reputable source. Who knows for sure what they are doing? At least I don't.

I read the same article as well. The problem is and I may be off base here, if they really were buying dinar from the street with US dollars, the dinar's value would not have fallen to the basement. So for me this implies they are not doing that.