Cabinet agrees to convert the purchase amount of the dinar to the dollar at the Central Bank

[jomans]

Cabinet agrees to convert the purchase amount of the dinar to the dollar at the Central Bank


03-09-2013-17: 41

Alsumaria Mobile Version economics and business
Alsumaria news/Baghdad

The Council of Ministersapproved Tuesday, to convert the purchase amount of the local currency to the US dollar at the official rate of Exchange by the Central Bank of Iraq.

And the General Secretariat of the Council of Ministers in a statement received "alsumaria news", "Council of Ministers held today, thirty-eighth regular session in Baghdad headed by Prime Minister Nouri al-Maliki."

The Secretariat explained that "the Council has agreed to convert the purchase amount of the currency of Iraqi dinar to US dollar currency exchange rate by the Central Bank of Iraq", indicating that the payment will be "under a documentary credit is opened in a bank in the country of purchase in case of direct purchase from abroad when absolutely necessary".


http://translate.google.com/translate?hl=en&sl=auto&tl=en&u=http%3A%2F%2Fwww.alsumaria.tv%2Fmobile%2Fnews%2F82058%2Firaq-news

[SgtFuryUSCZ]

***///

 

Us Dinarians constitute an "absolutely necessary" currency exchange scenario at 1-to-1....

 

Hand it over, boys. 

[TBomb]

I'm stuck using only my phone if someone could please open the link I posted and copy the article into the thread? Thx!

Idk but I don't like the fact they're saying "only when absolutely necessary". Means they have the ability to convert but as M was manning the meeting as usual, I still feel he is intentionally maintaining his weak dinar policy. Just my take.

[jg1]

Council of Ministers announced the decisions of the eighth regular session of the thirty-year 2013

 

03-09-2013 | (Voice of Iraq) -  Add a comment -    The Council of Ministers held its thirty-eighth regular in Baghdad on Tuesday, 3 IOL 2013 under the chairmanship of Prime Minister Nuri al-Maliki issued by the Board the following decisions: 

1 - To approve the following: 

- Approval of the consolidated draft pension law auditor by the State Council and forwarded to the House of Representatives based on the provisions of Articles (61 / item first and 8 / item II) of the Constitution. 

- Adoption of the recommendation of the Committee on Energy on the following: 

First / assignment of the implementation of the tender drilling 39 wells in Maysan fields / Maysan Oil Company and the Company cnooc Iraq on listed companies below and the total amount of 347,866,727,66 three hundred and forty-seven million, eight hundred and sixty-six thousand, seven hundred and twenty-seven dollars and sixty-six cents, on the the basis of the best technical bids and lower prices. 

- Chinese كوسل amount of 73824353 seventy-three million, eight hundred and twenty-four thousand, three hundred and fifty-three dollars. 

- China Bohai Corporation of $ 96.66624 million ninety-six million, six hundred and sixty-six thousand, two hundred and forty dollars. 

- Company Weatherford U.S. in the amount of 82,395,512,9 Eighty-two million, three hundred and ninety-five thousand, five hundred and twelve dollars and nine cents and the amount of $ 94,980,621,76 four and ninety million nine hundred and eighty thousand six hundred and twenty-one dollars and seventy six cents. 

II / extension of the Memorandum of Understanding processing of the Hashemite Kingdom of Jordan for the export of Kirkuk to the Kingdom by truck under a memorandum of understanding signed between the Republic of Iraq and the Hashemite Kingdom of Jordan and another year until 09.19.2014 and the same prices and conditions contained in the note. 

- Approval of the exception and the Department of Immigration of contract procedures set forth in the execution of contracts Instructions No. 1 for the year 2008 for the purposes of helping Syrian refugees. 

- Make advance (19 billion) from the Ministry of Finance to compensate the victims of the bombings Tuz Khurmatu and deducted from the allocations of the reconstruction of Turkmen regions, and holds the committee formed by the Council of Ministers and distribution of receipt of the advance. 

- Grant the authorities and bodies to universities in the institution below the license when they meet the requirements specified by law according to the law of universities and colleges, No. 13 of 1996, as amended: 

1 - Pacific University College 

2 - Gulf University 

3 - University of Uruk 

4 - University of statement 

- Increasing the powers of the direct purchase of medicines and emergency supplies to 500,000,000 five hundred million Iraqi dinars, or the equivalent to the U.S. dollar from inside and outside Iraq. 

- Approve the transfer of the purchase amount from the Iraqi dinar currency to the U.S. dollar currency at the official exchange rate by the Central Bank of Iraq and the payment under the letter of credit is opened in banks in the country of purchase in the case of direct purchase from the outside when absolutely necessary. 

- Adoption of the recommendations of the follow-up committee and the work of finding and producing electric power and the problem under the supervision of the Prime Minister under the Council of Ministers resolution No. 277 for the year 2013 and to approve the publication of the report with the assumption of the Committee on Energy follow up the implementation of the recommendations. 

 

Read more: http://translate.googleusercontent.com/translate_c?depth=3&hl=en&rurl=translate.google.com&sl=ar&tl=en&u=http://www.sotaliraq.com/mobile-news.php%3Fid%3D114619&usg=ALkJrhi6V1L8fzecgEE4bixztQsacCmS3Q#ixzz2dw6eu8Me

[TBomb]

Thx JG!

[ronscarpa]

Thanks for the post jomans...!  I agree FURY, but 1 to 1 as a minimum, 4 to 1 is better...! (LOL)

However, I'm not really sure what this article is saying....it's a bit vague 

[zigmeister]

Is it an article or an announcement?

[TBomb]

It's an article of the COM's announcement.  I posted the official COM announcement from their website on the first page, Zig. I highlighted the corresponding info in big blue letters.

 

 

Here's the original thread for this article which was started last night:

 

http://dinarvets.com/forums/index.php?/topic/159876-cabinet-agrees-to-convert-purchase-amount-of-dinar-to-dollar-at-central-bank/

 

Thanks jomans..mods, please combine.

Edited September 4, 2013 by TBomb

[jg1]

It looks like another step towards internationally traded currency to me. Like using a debit card outside the country.

 

Direct purchases from the outside when absolutely necessary) OK, really, there's going to be someone checking every single transaction to make sure it was a emergency.

Edited September 4, 2013 by jg1

[zigmeister]

Letters of credit...LOC's......  Tbomb you mentioned the fact they left the usual 1168 out of the article on purpose?  Could you elaborate?

[TBomb]

I sure hope you're right JG!  I sometimes like to play devil's advocate in order to analyze this all.  I certainly DO NOT WANT WAR IN SYRIA, but..what if M wants to RV the money to help Assad? I don't think this is out of the realm of possibilities. Worse case scenario..he only RV's the money that the CBI can access as at least to some degree as implied in this COM announcement (and maybe the emergency is transferring money to Assad)?  Ugh.

Edited September 4, 2013 by TBomb

[Christisking]

I'll take 1 to 1 any day of the week.

[calkid11]

THANKS FOR THE POST...I CAN LIVE WITH 1-1 RATIO

[vomer]

What?  No loppers commenting here?

[Carrello]

Letters of credit...LOC's......  Tbomb you mentioned the fact they left the usual 1168 out of the article on purpose?  Could you elaborate?

 

Zig, check the other watering hole for this discussion, and don't be confused by one camel in two different sets of spinners.

 

And many thanks to Soeharto for the find.  What a nugget!

Edited September 4, 2013 by Carrello

[zigmeister]

Zig, check the other watering hole for this discussion, and don't be confused by one camel in two different sets of spinners.

 

And many thanks to Soeharto for the find.  What a nugget!

Thanks Ms. C.  I have been there and I am soaking it in.

[gregp]

What?  No loppers commenting here?

Lop offf !! Bah !! LOL. This sounds pretty good.

It almost sounds like when you cash in at the bank, and the bank requests dinar payment from iraq.

[zigmeister]

Lop offf !! Bah !! LOL. This sounds pretty good.

It almost sounds like when you cash in at the bank, and the bank requests dinar payment from iraq.

I like Kaps take on this.

[Carrello]

Thanks Ms. C.  I have been there and I am soaking it in.

 

Best done while sitting in a bathtub full of tequila...just empty Trixie's leg.

[Rabbi]

Well I am not letting my Dinar go into my banks hands to be sent anywhere for anyone's approval before they give me my $1....I am confused as always....gives me a bad hair-day.  Go RV

That's a good policy, Kitty.  Most certainly, the commercial banks will be getting in on the IQD currency exchange action, and their foreign currency people, at any branch with such a department, should be trained to differentiate between real and counterfeit IQDs.  They shouldn't need to send your bills anywhere to be "verified."

[DinarThug]

IT SAYS ONE DINAR TO THE DOLLAR

 

 

I must have missed something here I saw 1166 to the buck.

 

Forget It - SandFly's Rolling ...

 

 

                           

[Rayzur]

Zig, check the other watering hole for this discussion, and don't be confused by one camel in two different sets of spinners.

 

 

 

This bar serves great drinks, and its always nice to try the creations of a different bartender now and then...    If ya ever want to hit me up next time you go bar hopping, I'll belly up and sip one with ya      Spinners?? Would we by chance be flying kites while drinking on this adventure  

[Carrello]

This bar serves great drinks, and its always nice to try the creations of a different bartender now and then...    If ya ever want to hit me up next time you go bar hopping, I'll belly up and sip one with ya      Spinners?? Would we by chance be flying kites while drinking on this adventure  

 

As soon as this thing happens, my spinners (it's a camel accessory) are headed right up your way (not kidding) and we can take up the drinks at that time on your home turf.  I was hoping I would be headed north for the Rolex race at Laguna Seca this weekend, but Maliki must have had other plans.  Damn dictators!  But at some point I will be buying the first drink for us....soooon. 

[vomer]

This sounds too good.  I'm putting on my skeptic cap ..

[zigmeister]

Best done while sitting in a bathtub full of tequila...just empty Trixie's leg.

Always! (;