New CBI announcement 06/13/2013

[TBomb]

13-06-2013

Baghdad (newsletter). The Central Bank issued bank transfer the bank rate to living outside Iraq.

The Bank said in a statement received (News Agency) a copy of it: it was decided that the transfer of funds in foreign currency for citizens living abroad obtaining permanent residence and temporary, not by a decision of the Board of Directors of the Bank.

He said: these measures will be under the support of the competent authorities of their definitive judicial decisions of the State through the banks approved by the Central Bank of Iraq for the sale price of private banks./finished/Dr. x/

 

http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http%3A%2F%2Fwww.ikhnews.com%2Findex.php%3Fpage%3Darticle%26id%3D88116
--

 

June 13, 2013

 

11:56 06/13/2013
Central bank: issuing bank transfer at the bank for residents outside Iraq

Baghdad - and babysit - The Iraqi Central Bank to issue a bank draft at the bank for residents outside of Iraq.

According to a statement of the Central Bank of Iraq, "he decides to be a transfer of funds in foreign currency for citizens living abroad who have permanent residence rather than temporary, in accordance with the decision of the bank's board."

He added that "these measures would be under the support of the competent authorities issued in their favor judicial decisions are final compensation from the state by banks approved by the Central Bank of Iraq selling price for private banks" ... p / i

 

http://translate.google.com/translate?hl=en&sl=auto&tl=en&u=http%3A%2F%2Falrayy.com%2F

[Frangipani]

PLEASE DON'T SHOOT THE MESSENGER: Here's a quote from a learned researcher of this investment..I'm just putting it out there so we can discuss this and hopefully come to a different conclusion:

 

"If I understand this correctly, this appears to be saying they will be paying Iraqi's living outside Iraq in foreign exchange (dollars) for compensation and may be referring to the oil proceeds they said they expect to pay out soon.   This is not good news,  if the dinar was convertable/tradable, they would, I am sure rather pay them in dinar."

[rockfl9]

I don't see the connection?

It says the banks (selected) will be paying OUT foreign currency to IRAQIs.. They wont be buying dinar!

[MyLadiesDaddy]

PLEASE DON'T SHOOT THE MESSENGER: Here's a quote from a learned researcher of this investment..I'm just putting it out there so we can discuss this and hopefully come to a different conclusion:

 

"If I understand this correctly, this appears to be saying they will be paying Iraqi's living outside Iraq in foreign exchange (dollars) for compensation and may be referring to the oil proceeds they said they expect to pay out soon.   This is not good news,  if the dinar was convertable/tradable, they would, I am sure rather pay them in dinar."

 

As I read this that was also the impression that I got. With one caveat, 

 

why would the CBI pay anyone outside of Iraq in dinars, ever. If your living

 

outside of the country then you would need to have the currency of the country

 

your living in. Makes sense. What we really need to glean from this article isn't 

 

the currency issue at all. It's the FACT  that the CBI just announced that it is now

 

capable of dealing with banks around the world. THIS IS HUGE. And necessary for 

 

a tradable currency. Think of it like this, if you went to a bank today and wanted to 

 

trade or send your dinar, that bank( at this time) would laugh you out the door. 

 

This article states that will soon not be the case.     

Edited June 13, 2013 by ladyGrace'sDaddy

[Tuck]

Could it possibly mean, based upon the use of the words citizen, abroad, permanent, temporary, foreign currency...that the exchange would only occur to a permanent resident. Could this possibly be circumventing secondary residents?

 

Only a thought here. I do not have any experience dissecting the Arabic languages, nor their nuances.

[Frangipani]

As I read this that was also the impression that I got. With one caveat, 

 

why would the CBI pay anyone outside of Iraq in dinars, ever. If your living

 

outside of the country then you would need to have the currency of the country

 

your living in. Makes sense. What we really need to glean from this article isn't 

 

the currency issue at all. It's the FACT  that the CBI just announced that it is now

 

capable of dealing with banks around the world. THIS IS HUGE. And necessary for 

 

a tradable currency. Think of it like this, if you went to a bank today and wanted to 

 

trade or send your dinar, that bank( at this time) would laugh you out the door. 

 

This article states that will soon not be the case.     

 

Thanks LadyGrace'sDaddy...what you say makes sense to me. I very much appreciate your thoughts and time.

[TBomb]

Excellent point, LGD.  Thanks so much!

Now, here's a quote:

 

 

"4. Foreign exchange auction has long lasted its purpose. Alternative arrangement is needed to serve foreign exchange demands of both public and private sectors. The depositing of all oil revenues in CBI instead of DFI will enhance such arrangement and make CBI the main provider of foreign exchange to the public sector. The lifting of UN Chapter VII’s Sanctions will facilitate the new role."

http://iraqieconomists.net/en/2013/02/24/foreign-exchange-auction-international-reserves-and-central-bank-independence-in-iraq-by-ali-merza/

 

Now, let's suppose..what IF they are not planning on moving to IMF Article VIII?

 

The IMF regs/rules regarding exchange regimes leaves it entirely up to the country's decision. I know the CBI has stated it's independent, but we're still seeing clear evidence Maliki wants to tamper with the monetary system.

Edited June 13, 2013 by TBomb

[zigmeister]

Excellent observation LDG!  You get it, more than often in Iraq news, it is not so much what they are saying but what they are doing.  Perceptively you pointed out and I believe you are right on, the banks are ready to connect outside of Iraqs borders to a global banking system.  The rest of the article is interesting but not of importance.  What you gleaned from this article, is the golden nugget!

 

On the money Tbomb, the other piece of importance.  What are they going to do with the auctions.  They are shutting them down.  Now we wait for the alternative.  No longer will it be in DFI but straight to CBI.  The CBI is the main source for foreign currency exchange.  Funny I always thought it was.  The question remaining is will Maliki try to get his hands on the money.  So far Turki has kept him at bay.

[TBomb]

Yes, Zig, Look at what we've seen this week....

 

1) Washington distancing themselves from Maliki

 

2) F-16's not being shipped until new PM

 

3) Replacing of Kobler

 

4) Horrible event, but another great article from Yota, stating that M created false documents against the peaceful Hawija demonstrators in order to justify killings/changed videos, etc.

 

5) Dawa, State Law/NA party members moving to other blocs (not enough for my liking)

 

6) M trying to overturn the law of the three presidencies and prevent the enactment of the federation council - so far, with no success

 

7) the formation and active "exposings" of corruption by the Integrity commission - directly linking the financial corruption to "top parliamentary" figures.

 

I have to think, after looking at all of this, that the UN is trying to make sure that there's no hindrances to removing Iraq from Ch 7, I just hope that moving to article 8 (IMF - Not UN) is a bi-product of Ch 7 release and this will release the currency to the international market and require an exchange regime..just to introduce it...hmmmm.

 

I'm sure I could think of more, but not at the moment....especially with the US announcing they want to distance themselves from M.

 

 

Turki: attempt to repair the central largest auction process against corruption
Alsumaria News - 06/13/2013 - 7:26 pm | Hits: 2

Turki: attempt to repair the Auction Central biggest operation against corruption Alsumaria News / Baghdad Prime Office of Financial Supervision and the Governor of the Central Bank and Agency Abdul Basit Turki, that what happened in the field of bank auction and try to reform is the biggest operation against corruption in Iraq, stressing that there are processes and a clear and well thought out to thwart our work. said Turki program "brackets" which aired on Alsumaria, "we have not gotten so far to control fully the health of the transactions involved in the auction currency at the central bank," noting that "what happened in the field of currency auction and try to fix that we've made ​​is the biggest operation against corruption in Iraq. " said Turki that "confrontation require access to places not trivial and the way bumpy too, but this is the way that you have to deal with in the management of such an institution," stressing that "there are processes and a clear and well thought out to thwart our . " explained Turki that "the problem existing now we have, which was diagnosed at the time of the former governor Sinan al-Shabibi is the lack of adequate oversight," noting that "the number of staff assigned supervision 33 bank and sale of $ 280 million per day are three employees only." He Bank Governor Central agency to "we went in the reform process to the extent beyond the adoption documents, banking and the transition of the method currently approved in most international banks rather than transfers fast," stressing that "the Bank now has cooperation with the Directorate of Customs and Tax Authority to direct the actual implementation for the development of an electronic network linking border crossings with the auction window of the currency in the central bank. " The Turkish that "the objective of this procedure is to make sure that what we are selling in the auction offset by entering actual goods into the country," stressing that "the bank needed to control more and cooperation by the banks." was Council of Ministers decided, in (16 October 2012), the prime BSA Abdul Basit Turki manages the governor of the central bank and the agency, having issued eliminate an arrest warrant for Bank Governor Sinan al-Shabibi on corruption charges, pointing out that Shabibi fled out of the country after issuance of the memorandum. central bank held daily sessions for the sale and purchase of foreign currencies with the participation of Iraqi banks, excluding public holidays on which depends the World Bank for these auctions, and the sales either in cash or in the form of money orders sold abroad for a commission certain. mention that the pace of the accusations escalated on the smuggling of currency that has cast a shadow on the sale price of the dollar in the local markets and led to increased exchange rate a few months ago, while MPs need to take the initiative on the government to stop selling the currency at auctions the central bank, others stressed that Iraq is losing big money by smuggling a day outside the border, although many praise from specialists in economic affairs on the positives of the auction to reduce the rates of inflation and to control the value of the dinar.

http://www.alrafedai...ticle&id=103597

Read more: http://dinarvets.com/forums/index.php?/topic/151201-turki-attempt-to-repair-the-central-largest-auction-process-against-corruption/#ixzz2W7biK12S

Edited June 13, 2013 by TBomb

[dontlop]

Excellent point, LGD.  Thanks so much!

Now, here's a quote:

 

 

"4. Foreign exchange auction has long lasted its purpose. Alternative arrangement is needed to serve foreign exchange demands of both public and private sectors. The depositing of all oil revenues in CBI instead of DFI will enhance such arrangement and make CBI the main provider of foreign exchange to the public sector. The lifting of UN Chapter VII’s Sanctions will facilitate the new role."

http://iraqieconomists.net/en/2013/02/24/foreign-exchange-auction-international-reserves-and-central-bank-independence-in-iraq-by-ali-merza/

 

Now, let's suppose..what IF they are not planning on moving to IMF Article VIII?

 

The IMF regs/rules regarding exchange regimes leaves it entirely up to the country's decision. I know the CBI has stated it's independent, but we're still seeing clear evidence Maliki wants to tamper with the monetary system.

i agree those dfi funds are  soon to be in the iraq govts hands .

 

once iraq gets released from chapter 7 those funbds abroad dont need protecting any more ..

 

when a country is under ch 7 .. any funds in international banks can be frozen by anyone iraq owes oney ..thats why those funds are going to new york  to the dfi fund ..

 

 

in a couple weeks or when  ch7 is gone .. no one can touch iraqi accounts anywhere ..

iraq can open accounts all over the world like they used to .. after ch7 is lifted

after that ill be watching for large central bank currency swaps

[TBomb]

"in a couple weeks or when  ch7 is gone .. no one can touch iraqi accounts anywhere .."

Read more: http://dinarvets.com/forums/index.php?/topic/151149-new-cbi-announcement-06132013/page-2#ixzz2W7htmmpb

 

Yes, with M in power, this has always been disconcerting for me.  I'm pretty sure Greece (for one) hasn't forgiven their debt.  Hmmm.

[dontlop]

they got to settle it in court .. they cant freeze iraqi assets in international banks once they are out of chapter 7 ..

 

and above i meant liquidity swaps  at the cemtral bank level .. the federal reserve is sitting on trillions of dollars   from selling treasurys.. they cant release it into our economy it would cause instant inflation...

 

iraq could use some dollars . maybe a trillion or two ..

 

this article explains that process .. >>> http://dinarvets.com/forums/index.php?/topic/143559-central-bank-liquidity-swap/?hl=%2Bcentral+%2Bbank+%2Bcurrency+%2Bswaps

[Goldiegirl]

Excellent observation LDG!  You get it, more than often in Iraq news, it is not so much what they are saying but what they are doing.  Perceptively you pointed out and I believe you are right on, the banks are ready to connect outside of Iraqs borders to a global banking system.  The rest of the article is interesting but not of importance.  What you gleaned from this article, is the golden nugget!

 

Absolutely Ziggy, Haven't we heard (and been saying) for a long time. Watch what they do, not what they say.

 

Always read between the lines.

 

Excellent detective work there Lady Grace's Daddy!!!   

[MyLadiesDaddy]

Excellent point, LGD.  Thanks so much!

Now, here's a quote:

 

 

"4. Foreign exchange auction has long lasted its purpose. Alternative arrangement is needed to serve foreign exchange demands of both public and private sectors. The depositing of all oil revenues in CBI instead of DFI will enhance such arrangement and make CBI the main provider of foreign exchange to the public sector. The lifting of UN Chapter VII’s Sanctions will facilitate the new role."

http://iraqieconomists.net/en/2013/02/24/foreign-exchange-auction-international-reserves-and-central-bank-independence-in-iraq-by-ali-merza/

 

Now, let's suppose..what IF they are not planning on moving to IMF Article VIII?

 

The IMF regs/rules regarding exchange regimes leaves it entirely up to the country's decision. I know the CBI has stated it's independent, but we're still seeing clear evidence Maliki wants to tamper with the monetary system.

 

 

Excellent observation LDG!  You get it, more than often in Iraq news, it is not so much what they are saying but what they are doing.  Perceptively you pointed out and I believe you are right on, the banks are ready to connect outside of Iraqs borders to a global banking system.  The rest of the article is interesting but not of importance.  What you gleaned from this article, is the golden nugget!

 

On the money Tbomb, the other piece of importance.  What are they going to do with the auctions.  They are shutting them down.  Now we wait for the alternative.  No longer will it be in DFI but straight to CBI.  The CBI is the main source for foreign currency exchange.  Funny I always thought it was.  The question remaining is will Maliki try to get his hands on the money.  So far Turki has kept him at bay.

 

 

Absolutely Ziggy, Haven't we heard (and been saying) for a long time. Watch what they do, not what they say.

 

Always read between the lines.

 

Excellent detective work there Lady Grace's Daddy!!! 

 

I am greatly humbled to receive such remarks from what I consider to be such

 

educated persons here at dv. You are the people that I have learned from, my 

 

hat's off to you all. Thanks   

[zigmeister]

I am greatly humbled to receive such remarks from what I consider to be such

 

educated persons here at dv. You are the people that I have learned from, my 

 

hat's off to you all. Thanks   

[Butifldrm]

I' not sure, but I believe this announcement pertains to residual oil proceeds that were to be paid to the people from 2012, and maybe article 140 remittances to victims, living abroad.  It appears that these payments will be made in foreign currency, not the Dinar, and I also believe these payments are to be made in June.  The CBI has spent Billions of Dollars sterilizing Markets of the Dinar.  If remember correctly even a law was  passed to pay salaries in country  in USD,  Until we see Iraq move into article VIII and move forward with an internationally traded currency, I believe they will make payment to the people with USD in side Iraq and other foreign currency outside Iraq.  Hopefully, in July we will see Iraq  released from Chapter VII and moveed into article VIII, we will see an internationally traded currency.  

[txwWrestling]

This sounds like great news..It sounds like we are getting a bit closer. GO RV!!!!

[TBomb]

Thanks Butifl...I think it's wise for us to be conservative with our enthusiasm over this until we see what happens w Ch 7.  Plus 1. You da bomb..lol

Edited June 13, 2013 by TBomb

[zigmeister]

Yes this is Iraq and ya nevah know which way the camels will go.

[caz1104]

Thanks Butifl...I think it's wise for us to be conservative with our enthusiasm over this until we see what happens w Ch 7.  Plus 1. You da bomb..lol

Bridled enthusiasm is wise...............uh at least that's what my better half suggested to me last nite...-peace

[zigmeister]

Bridled enthusiasm is wise...............uh at least that's what my better half suggested to me last nite...-peace

Dude handcuffs, and a whip usually brings the bridled enthusiasm speech.

[caz1104]

Dude handcuffs, and a whip usually brings the bridled enthusiasm speech.

EXACTLY.................uh I mean I've heard that

Edited June 13, 2013 by caz1104

[yota691]

CBI decides to transform government amounts of compensation to the outside of Iraqis who have permanent residency only 

Author: 

Editor: BS, NK 

14/06/2013 15:35 

 

Range Press / Baghdad 

Central Bank of Iraq, on Friday, he decided to transform the compensation government for Iraqis living outside Iraq and issued in their favor decisions judicial deterministic, while stressing that the conversion will exclusively Iraqis who have residences permanent and not temporary, pointed out that the conversion will be the currency Alognih According to the pricing in banks approved by him. 

The Director-General Agency of the Central Bank Abdul Abbas Khalaf in a statement received (range Press), a copy of which, "The management of the central bank decided to بجلستها which was held on the 15th of May, 2013, to approve the transfer of funds in foreign currency for Iraqi citizens living outside Iraq and who have a permanent and not temporary, under the support of the competent authorities issued in their favor judicial decisions are final compensation from the state. " 

The statement added that "the mechanism of transfer of funds through banks will be approved by the Central Bank of Iraq selling price for private banks." 

There are a lot of Iraqi refugees outside Iraq, especially after the year 2003, as it announced the Bureau of Population, Refugees and Migration at the U.S. State Department, in the June 11, 2013, that the number of Iraqi refugees who were received in the United States since the year 2007 amounted to 86 thousand Lage Iraqis to make them more State of incubator for the Iraqis, while pointed out that the number of registered displaced outside Iraq, "amounted to 162 thousand refugees" are met nearly one million and three hundred thousand displaced people inside Iraq, stressing that the majority of these are from Baghdad and Diyala. 

Thousands of Iraqis have migrated or been displaced during the past three decades because of their opposition to the policies of the regime of Saddam Hussein (1968, 2003), and the system at the time the confiscation of their land and their property and possessions and sell them after accusing them of treason and labor to foreign countries, especially (Iran). 

And home to most of the Iraqis who have migrated or been displaced and obtained permanent residency in Iran and Sweden, Aldenmarak and the United States and other countries. 

The Governing Council dissolved and the Coalition Provisional Authority dissolved decided to form a body of Real Property Disputes to end the crisis lands confiscated by the regime of former President Saddam Hussein since 1968 and up to the year 2003, many Iraqi families for reasons of political, racial, religious or sectarian, which was recorded Bosme others or has confiscated and allocated to the former regime officials. 

Under the decision of the Revolutionary Command Council dissolved with the number 666 which was released in August of 1980 to overthrow Iraqi nationality all Iraqis of foreign origin, if it is found not to his loyalty to the homeland and the people and the national goals and social Supreme revolution, it also gives the interior minister authority to keep all of the dropped his Iraqi citizenship, unless convinced based on sufficient grounds that the survival in Iraq is Tstdeih the need for judicial, legal, or preservation of the rights of others formally documented, as well as the confiscation of his Iraqi citizenship dropped.

[sandfly]

SHOOT I HOPE SO THAT WOULD BE GOOD. SO I CAN GET OUT OF DUST

[TQueezy]

SHOOT I HOPE SO THAT WOULD BE GOOD. SO I CAN GET OUT OF DUST

Lets bring you home sandfly, it's long awaited and you more than deserve it.