Popular Post TotalNewb Posted July 9, 2013 Popular Post Report Share Posted July 9, 2013 Central Bank Governor promises bright future for Iraqis By Adel Kadhem Azzaman, July 9, 2013 Iraq’s financial capabilities are stronger than any challenges the country might be facing, said Deputy Governor of the Iraqi Central Bank Abdulbasit Turki. “The near future will be a surprise … our potentials are greater than any challenges we are going to face,” Turki said. Turki made the remarks during a celebration marking the 10th founding anniversary or Iraq’s Commercial Bank. Turki took over the Central Bank’s administration almost 10 months ago, following a period in which the bank’s former leadership was alleged to have pursued policies detrimental to the country’s economy and the exchange rate of its national currency, the dinar. Iraqi Central Bank’s coffers are reported to be brimming with hard cash with reserves estimated at more than $70 billion. Turki said the short period in which he has been at the helm of the country’s most influential financial institution has provide him with evidence that Iraq will overcome its economic difficulties with great leaps forward in the near future. He did not elaborate, but hinted that his bank was negotiating with international banking institutions to open branches in the country and at the same time encourage foreign investment. “We have met delegations from some of the world’s largest banks who are willing to start operating in Iraq,” he said. Turki said his institution wants to turn Iraq into an arena for investment, particularly by foreign firms and entrepreneurs to rebuild its infrastructure. “Iraq is open to all investors willing to invest in it and reconstruct its institutions,” he said. http://www.azzaman.com/english/?p=855 18 Link to comment Share on other sites More sharing options...
ronscarpa Posted July 9, 2013 Report Share Posted July 9, 2013 Thanks for this great article TotalNewB (+) It's much appreciated & good news, IMHO 3 Link to comment Share on other sites More sharing options...
TotalNewb Posted July 9, 2013 Author Report Share Posted July 9, 2013 Yep! Straight from the horses mouth!! Now what the hell are they waiting for??? 1 Link to comment Share on other sites More sharing options...
outlawclg Posted July 9, 2013 Report Share Posted July 9, 2013 they are waiting for.... tonight! 4 Link to comment Share on other sites More sharing options...
Maggie123 Posted July 9, 2013 Report Share Posted July 9, 2013 Exellent Article! Thank You +1 I Loved This Part... "Turki said the short period in which he has been at the helm of the country’s most influential financial institution has provide him with evidence that Iraq will overcome its economic difficulties with great leaps forward in the near future". 1 Link to comment Share on other sites More sharing options...
hoosier1470 Posted July 9, 2013 Report Share Posted July 9, 2013 Yep...they are waiting for the Ramadan celebration that takes place in the morning...(tonight in the US) to announce it!! Tomorrow morning in Iraq is the official kickoff of the Ramadan Holiday!! They told the people it was going to be one to remember!! And I believe that's exactly what it will be!!! God Bless each of you! And the people of Iraq! 8 Link to comment Share on other sites More sharing options...
IQD1217 Posted July 9, 2013 Report Share Posted July 9, 2013 Iraq cant RV until they reduce the money supply and reduce the US dollar in the country !! 4 13 Link to comment Share on other sites More sharing options...
TotalNewb Posted July 9, 2013 Author Report Share Posted July 9, 2013 Iraq cant RV until they reduce the money supply and reduce the US dollar in the country !! They have been purposefully dollarizing the country in preparation forth RV. They have been sucking in dinars thru the auctions for years. Once they RV, then they will begin pulling in the USD and exchanging it for lower denominations at the new rate. 15 Link to comment Share on other sites More sharing options...
Alex38 Posted July 9, 2013 Report Share Posted July 9, 2013 then why are they still saying "30 trillion" dinar in circulation? ... just a question... 2 1 Link to comment Share on other sites More sharing options...
TotalNewb Posted July 9, 2013 Author Report Share Posted July 9, 2013 then why are they still saying "30 trillion" dinar in circulation? ... just a question... The CBI knows how much is out there. Both in country and out of country. The currency out of country, like what we hold , will be used as a reserve currency. All part of the plan, as the IMF has deemed Iraq to become a donor nation. But I am sure you have heard this before. They are not concerned with the dinar we or the dealers hold. 6 Link to comment Share on other sites More sharing options...
millionaire in training Posted July 9, 2013 Report Share Posted July 9, 2013 Great post, Thanks Link to comment Share on other sites More sharing options...
sirlep33 Posted July 9, 2013 Report Share Posted July 9, 2013 Yep...they are waiting for the Ramadan celebration that takes place in the morning...(tonight in the US) to announce it!! Tomorrow morning in Iraq is the official kickoff of the Ramadan Holiday!! They told the people it was going to be one to remember!! And I believe that's exactly what it will be!!! God Bless each of you! And the people of Iraq! Hey Hoosier, can you post me the link to the article where they told the people Ramadan was going to be one to be remembered! Not doubting you, I would like to read it though because I must have missed that one. Thanks in advance! Link to comment Share on other sites More sharing options...
millionaire in training Posted July 9, 2013 Report Share Posted July 9, 2013 Yep...they are waiting for the Ramadan celebration that takes place in the morning...(tonight in the US) to announce it!! Tomorrow morning in Iraq is the official kickoff of the Ramadan Holiday!! They told the people it was going to be one to remember!! And I believe that's exactly what it will be!!! I sure hope you're right. Would really be great. Link to comment Share on other sites More sharing options...
IQD1217 Posted July 9, 2013 Report Share Posted July 9, 2013 They have been purposefully dollarizing the country in preparation forth RV. They have been sucking in dinars thru the auctions for years. Once they RV, then they will begin pulling in the USD and exchanging it for lower denominations at the new rate. Link to comment Share on other sites More sharing options...
TBomb Posted July 9, 2013 Report Share Posted July 9, 2013 The CBI knows how much is out there. Both in country and out of country. The currency out of country, like what we hold , will be used as a reserve currency. All part of the plan, as the IMF has deemed Iraq to become a donor nation. But I am sure you have heard this before. They are not concerned with the dinar we or the dealers hold. Right on TN. +1 Thanks. 1 Link to comment Share on other sites More sharing options...
IQD1217 Posted July 9, 2013 Report Share Posted July 9, 2013 This is true , but we don't know at what level they done it!! They been saying this for years .. I still think it will be prob a couple of months till they start reducing the money supply more aggressively .. Now that they are out of chapter 7!! IMO 1 1 Link to comment Share on other sites More sharing options...
shydude Posted July 9, 2013 Report Share Posted July 9, 2013 30 Trillion is the Smoke, that will disappear when the wind blows. They will drop the Zero's when it clears Link to comment Share on other sites More sharing options...
JWJW11 Posted July 9, 2013 Report Share Posted July 9, 2013 Iraq cant RV until they reduce the money supply and reduce the US dollar in the country !! Why would they want to remove USD? Link to comment Share on other sites More sharing options...
Mntnman Posted July 9, 2013 Report Share Posted July 9, 2013 Great article... I would like to pose a question: If the Dinar RV'ed at a high rate... say US$3 to IQD1... would you invest in Iraq? How? Maybe Adam has some ideas for us. Cheers! Go RV! 1 1 Link to comment Share on other sites More sharing options...
IQD1217 Posted July 9, 2013 Report Share Posted July 9, 2013 Why would they want to remove USD? 1 1 Link to comment Share on other sites More sharing options...
goldorsilver Posted July 9, 2013 Report Share Posted July 9, 2013 Its a lie.....its all Iraq is good at. If they lie to their own people i hope the people raize up and take them OUT ! 1 1 Link to comment Share on other sites More sharing options...
IQD1217 Posted July 9, 2013 Report Share Posted July 9, 2013 Because right now they are dependent on the US dollar for daily purchases , they need to go back to the way it was before the wars and make the dinar strong !! Lower the demand for the US dollar in your country put more faith in your own currency !! 3 Link to comment Share on other sites More sharing options...
stealthwarrior Posted July 9, 2013 Report Share Posted July 9, 2013 Soon and in the coming days.how long do you think in the coming future is? 2 Link to comment Share on other sites More sharing options...
sandstorm Posted July 9, 2013 Report Share Posted July 9, 2013 (edited) Why would they want to remove USD? if there is a rv, there wont be a problem of removing usd. Ill gladly help This is a great article. Do you hear the sound of all that money pouring into Iraq? Big rv, little rv, whatever......they can do something, and it sounds like its going to be soon. Edited July 9, 2013 by sandstorm 6 Link to comment Share on other sites More sharing options...
umbertino Posted July 9, 2013 Report Share Posted July 9, 2013 Yep! Straight from the horses mouth!! Now what the hell are they waiting for??? The Trillion Dinar question. Link to comment Share on other sites More sharing options...
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