Najaf get a billion dollars frozen for three years

[Markinsa]

Najaf get a billion dollars frozen for three years

26/02/2014 05:12 02/26/2014 05:12

 

I got the local administration in the province of Najaf on a resolution to approve the launch of one billion dollars has been frozen for three years at the Ministry of Finance after the approval of the Iraqi Central Bank to convert the value of the Iraqi dinar amount.

The head of the Legal Committee of the Council Hassan Wahid's (IMN) "The provincial council form a special committee to take receipt of the amount of money from the Central Bank of Iraq after the approval of the conversion value of the Iraqi dinar to the dollar."

He added that the single "amount of a share of the province of Najaf imports accumulated Najaf airport for the past three years and you get to maintain under $ 10 for every traveler uses Arabic or foreign civilian airport in the province."

He continued that "the amount of money and the state received from the Iraqi Central Bank will enter the fund in local revenues, which began its law of the provincial council in earlier to spend on essential needs in the province."

 

[sandfly]

THANKS

[easyrider]

Finance launches billion dollar share of Najaf airport funds to maintain frozen for three years
02/26/2014 16:53:00

Najaf / Nina / got the local administration in the province of Najaf, the decision to approve the launch of one billion dollars has been frozen for three years at the Ministry of Finance after the approval of the Iraqi Central Bank to transfer the amount in Iraqi dinars. said Chairman of the Legal Committee of the Council Hussein al-Issawi, a reporter Agency National Iraqi News / Nina /, "The provincial council form a special committee to take receipt of the amount of money from the Central Bank of Iraq after the approval of the conversion value of the dollar to the Iraqi dinar." and added that "the amount of a share of Najaf province of imports accumulated Najaf airport for the past three years and that get under which maintain the $ 10 for every traveler Arabic or foreign uses civilian airport in the province. " and continued that "the amount of money and the state received from the Central Bank of Iraq will enter a fund local revenues, which began its law of the provincial council in earlier to spend on essential needs in the province." . noteworthy that fund local revenues is a new procedure adopted by the Council of the province of Najaf to deposit all imports of local government, with the preparation of an annual plan for disbursement to the slides and projects in need of urgent and emergency cases. / End

http://www.ninanews.com/arabic/News_Details.asp?ar95_VQ=GMMDDH

 

Note: this tells me the process has already began the (COM) came out to set a mandate to use IQD only for contracts, projects etc.. at 1166 thats NOT going to work. Now this billion dollar project to be used in IQD. I guess time will tell.

Edited February 28, 2014 by easyrider

[easyrider]

cant believe No one has commented on this.  This is HUGE with the recent announcenment of mandate for IQD only use.

[riseandshine]

I normally just lurk but I was also surprised no one was jumping on this. If legit this I agree is just what we want to see, hello RV

[sandfly]

THANKS

[moneysoon]

I agree there have been some nuggets found over the last week! This is good stuff!!!!!!

[leanonme]

Nice find indeed! This is saying to use the IQD instead of US dollars. Demand is being created with this news.

[tanalou1]

I lurk as well, like riesandshine, daily . I would love to hear Adam's thoughts.

[kennyc]

Giddy up!!

[Northern Lights]

I'd comment, but I honestly don't understand this enough on own. I rely on many of you other more savvy DV members to sum up these confusing news snips. From what I understand from your comments, this does sound like great news. GO RV

[genx4me]

Thanks Easy!

[doctor robbins]

cant believe No one has commented on this.  This is HUGE with the recent announcenment of mandate for IQD only use.

 

I think people are just tired of hearing about huge news over and over when the rate never changes.  $1 billion isn't going to make much difference. 

[dontlop]

How come the mof can just freeze assets and unfreeze them ?

Wonder how much they have in total frozen assets across Iraq

If its in "dollars " the frozen assets would not show up in Iraqs money supply it's not issued by the cbi that's in the USA money supply

Ya just gotta figure they only converted over 80 billion dollars into dinar over the last 10 years

They have as a country taken in over 500 billion in oil revenues

And they didn't spend 420 billion of it overseas

They show trade surpluses each year since 2005

So how big is the pile of dollars that still remain in Iraq ? On top of the 80 billion in reserves

Paying contracts in dinar is good but the govt always paid Salarys in dinar

But if contracts are paid in dinar to foreigners then they would have to be accepted by foriegn contractors and converted

How do ya pay a corporation a check in Iraqi dinars ?

Can they send Bp "British petroleum " a check for a trillion dinars

It has been over ten years since the Iraqi dinar was issued by the CPA

I don't see a reset coming

Reset to what

They got to set a new rate based on assets

I'm

Wondering how far they will take those assets as far as backing up their currency

They would have to go all the way and pay any debts with their assets

Money isn't assets it's just a representation of assets.

Just a piece of paper with an amount of asset that you own on each slip or note

It's just a note

A message in a bottle

Now if money were made out of previous metals then their would be very little money in the world economy

Since it's just paper notes their will always be a way to have enough to go around

If not just print up some more

[jeepguy]

thanks for  bring news  post easy !   most likely  { like  doc robbins ,  who is a hottie  in photo   }  we have seen a  lot of good articles lately ,  that it really hasn`t done much for the  movement of dinar , although  with the bit about  all projects to be  paid with dinar ,and  transaction in dinar  is  a  big  step  to getting the dinar  back to  being  valuable on the streets of Iraq !  but  I will have to say ,  after  a few years of  articles  that have any thing to do with any member of  parliament  or  any part of  the government of Iraq ,  we are tired of  all the  pumping  and   attaboys  , the g.o.i  anf m.o.p.  give each other ....  if  they were really  on  top of things  they would have { I,m,o, }   passed that budget , and  passed the h-c-l  by now any ways ,   {  with your article , and  the  few articles I have  looked over ,  every thing  at this  point in time  looks to be ----->  started  to be complete ,  or  stated  to be finished ,  at or around the  time of elections ,  every one  is  to the  point  that maliki  is  holding up  every  good  deal  to make it  a bad thing ......    so  I   will have to hold out on   being  overly  excited , after the 4 -2014  date line ...}   not  wanting to bash  your article  easy ,   just  need to see what local  person will take over Iraq  after  elections ........    

[EagleEye]

Easy I thought it was a good post when I saw it last night, but as you say seemed no one had discussed it at that point...nice find IMO 

[10 YEARS LATER]

I agree there have been some nuggets found over the last week! This is good stuff!!!!!!

Absolutely spot on about these "golden" Nuggets of Good Stuff . . . .pretty HUGE NUGGET. I like these nuggets. Butt Nuggets on the other hand, not so much.

 

"SOON"

[SnowGlobe7]

i love our newshounds

[vomer]

 Soon I'll be smoking Don Rafael cigars and not these cheap Muriels.  

[tn vol]

This and the other news articles from the last week do sound encouraging. It's been eight years for me so, I'm cautiously optimistic.

[Northern Lights]

I don't even know what to feel anymore. Been excited about so many news articles in the past, and I know there has been progress, but it is so very hard to be patient when this is needed so badly.

[Laid Back]

Just increase the exchange rate.

Do it.!!!