World Bank restructure the Rafidain and Rasheed in order to raise the value of the Iraqi dinar

[sandstorm]

Another pre-rv announcement. we know its real now

[TQueezy]

Hey, so... sarcasm gets you far in life. Did you know that?

Another pre-rv announcement. we know its real now

[BETTYBOOP]

DING! DING! DING! YOTA. GREAT NEWS THANKS !

rozman... there is little to no evidence in regards to the rate. It is all speculation. No one, regardless of how high up their intel is will know the date or the rate until it goes live..... except high up in the CBI.....OFCOURSE.

Edited March 25, 2013 by BETTYBOOP

[sandstorm]

Hey, so... sarcasm gets you far in life. Did you know that?

positivity man..not sarcasm

Anothe piece of the puzzle...

[WISKY291]

Thanks, Yota

[NoviceInvestor]

Woo the Hoo.

Woops - I meant woo hoo - or woo to the hoo - which translates to things are looking up. Seems like things are happening and we almost know "when" and we almost know "how much" and so soon the word soon will be history.

I missed the "when" bit OZmosis?

[NeedRv]

I am hoping the decimal was really in the wrong place...and ment $1.14, just to de-dollarize Iraq and get those USD off the streets totally.... .14 cents.... isnt alot to someone like me that didnt grab a doomsday stockpile of dinar.... HAHA.... Oh well time will tell... 

 

guess some money is better than NO money..... $$$$$$$$$$$ 

 

GO RV....HurRV

[Boozer]

How can 14 cents be anything when 15% goes to tax and then you have state tax on top of that and a conversion fee . and then the spread.  can someone help me with 101 ?

[KiaKaha]

 World Bank restructure the Rafidain and Rasheed in order to raise the value of the Iraqi dinar  

Noteworthy that the second Gulf War led to a decline in the value of the Iraqi dinar in an unprecedented way to reach the Iraqi dinar to 0.144 U.S. dollars, which led to cripple the banking sector until the year

Guys, it doesn't say it's going back "up" to .144, it says the second Gulf War led to a decline in the value TO .144...

 

Great news, Yota, thanks for bringing it in...

 

KK

[gymrat76541]

OK, I will bite................................+1

[tilak]

I don't feel that a return to .144 would restore their value . Do to the gulf war the value declined to .144 which crippled the banking sector . I think we are moving to a far greater return than the amount that lead to a crippled banking sector. Either way . Yota you are priceless to us all

 

The only GCC country that has a rate of 3+ is Kuwait.  All the other countries have .26 to a little over a buck.  Put that into prospective.

[boomer113189]

this is good news but i am curious to how they plan to raise the dinar value

[uncirculd]

Yota!!!  My friend, this is the best article you have brought in a day.  since you bring good ones everyday.   My friend, this is why I have been all about the politics here and get down on maliki.  This article proves what you and I have been talking about.  Going all the way back to what Shabibi said.  This is awesome.  I love it!   You just keep out doing yourself and buddy, thank you for your hard work.  One of the best out there.         

Would you all be thinking .14 and then float up some?

Heck, I am still looking at at least a one to one.  I could be totally wrong, but I don't see why it would benefit them if they didn't at least go to a dollar.  Remember, they want their old rate back of the 80's.  Back then it didn't seem right or correct.  But now that we know what type of wealth that country has, I just feel it has to be better than pennies.

[yota691]

this is good news but i am curious to how they plan to raise the dinar value

The Picture of your avatar should answer your question...Many Central Banks are stock piling metals in which they can absorb... to place a value on one country currency..Basil 3..Watch and see..IMO

Yota!!!  My friend, this is the best article you have brought in a day.  since you bring good ones everyday.   My friend, this is why I have been all about the politics here and get down on maliki.  This article proves what you and I have been talking about.  Going all the way back to what Shabibi said.  This is awesome.  I love it!   You just keep out doing yourself and buddy, thank you for your hard work.  One of the best out there.         

Thanks for everything you do..as well..your the Best on Mr. M and his gang...

Edited March 25, 2013 by yota691

[blueskyline]

The only GCC country that has a rate of 3+ is Kuwait.  All the other countries have .26 to a little over a buck.  Put that into prospective.

Tilak , The country of Baharain is currently a member of the GCC and at present the exchange rate is 2.65 . Although it is not 3+ it is certainly greater than .26 to a little over a buck .

[Bigchclte]

Here We Go!!

[onerighthand]

How can 14 cents be anything when 15% goes to tax and then you have state tax on top of that and a conversion fee . and then the spread.  can someone help me with 101 ?

I'll give it a shot, but it is rough numbers and mostly simbolic.

 

Say you spent a thousand dollars and got one million dinars. take that million dinars, and it is now worth a penny a dinar, which now makes that $1,000 worth of dinars worth $10,000.

 

One million times a penny equals 10,000. If it becomes worth 14 cents per dinar, you now have $140,000.

 

your 15% tax on 140,000 is 19,600 dollars, leaving you $120,400.00.

 

5% spread fee is another $6,000 and so on.

 

Any further tax is a further deduction, but still a great value increase from $1,000 to $140,000 with just a 14 cent increase in value per dinar.

 

million dinars increasing to a dollar each is a million dollars.

 

Hope I am correct roughly and hope that takes the scare out. 8^)

[doctor robbins]

The focus of the article is on upcoming reforms in a couple of Iraqi banks, not on the exchange rate.  I believe what this article is saying is that they were waiting for the CBI's proposed currency reform to pass before making these changes, but have now decided to proceed without the currency reform.  The Ministry of Finance apparently feels that the currency reform process will be expedited by the restructuring of the banks along with an increase in political stability.

[onerighthand]

The focus of the article is on upcoming reforms in a couple of Iraqi banks, not on the exchange rate.  I believe what this article is saying is that they were waiting for the CBI's proposed currency reform to pass before making these changes, but have now decided to proceed without the currency reform.  The Ministry of Finance apparently feels that the currency reform process will be expedited by the restructuring of the banks along with an increase in political stability.

Well I was trying to relate to the question, and not in relation to the article, at least I was trying too. I gave up trying to understand or put much stock in the verbiage within the articles anymore. I got burned out a year ago, but still going to the end, non the less.

[easyrider]

When Iraq made the commitment to enter Article IV from the IMF they signed their deal with the devil per say.  When the imf speaks, Countries will listen there is no turning back and they got approved to raise the value of the iraqi dinar.  Then the world bank takes the action and makes it happen the IMF and WB work as one.  The world bank has been waiting for the approval from the IMF now that they concluded its sessions its time to increase the value of the dinar.

Edited March 26, 2013 by easyrider

[yota691]

 

 

Baghdad (news) .. The Deputy Finance Committee Chairman MP / coalition of Kurdish blocs / Ahmed Hassan Faizullah, that IMF initiative to support and develop the Rafidain and Rasheed will support financial and banking sector in the country. said Faizullah (of the Agency news): The orientation of the International Monetary Fund to provide grants financial development of the Rafidain and Rasheed, who are among the most important banks in Iraq will be channeled to the interests of the national economy in terms of financial sector development. added: must be taken of the recommendations made ​​by the World Bank into consideration and applied on the ground because he has international experts have long engaged in the field of financial and banking at the level of the world, when providing recommendations they serve the interests of countries and financial institutions concerned. was the International Monetary Fund announced the adoption of a plan for the rehabilitation of government banks Rafidain and Rasheed. / end / 8. n. p /

Edited March 26, 2013 by yota691

[blueskyline]

Unirod. You mentioned Scooter. He was brilliant and I thank him greatly. I wish him all the best.

[zul]

Completion of studies for economic restructuring of State-owned banks

04/29/2013
Completed the Higher Committee overseeing the restructuring of State-owned banks Rafidain and Rasheed economic and technical studies necessary for the implementation of political restructuring. 
A member of the Committee Majid picture of the center Brief for the Iraqi Media Network that all the studies that have been developed to restructure State-owned banks has been completed and (sourcing)استحصلت approval by the Supreme Committee supervising and Minister of Finance and the Governor of the Central Bank and Chairman of the BSA, pointing out that the problems have been diagnosed by a recognized international institutions solutions have been developed and awaiting currently only application.

 

 

#sorry, this has been posted by Yota in another thread.  

Edited April 30, 2013 by zul

[Redhorse]

Ok yota, I'm getting really worn out telling you hundreds of times what a great find this is, what a great find that is!. From now on, when you see me post the word DING, you'll know you just got a+ 1 from me. Great job! DING!

Hey yoda that's a ding for me too!!!!!!

[Nelson0528]

Yep, here they are once again; stating... the Rasheed and Rafidian Banks are still not ready to undertake the globalization of the IQD. World Bank is of course offering to facilitate; but, clearly this is an Iraqi thing, and is going to take some time yet to get them ready... maybe all this stuff about letting it rip in 2014 is not just a bunch of hot gas... ???