yota691 Posted May 23, 2015 Report Share Posted May 23, 2015 The side of the press conference held by Managing Director of the Bank of Assyria Adnan Chalabi today (May 23, 2015) 13 private banks are reducing the dollar's exchange rate to the citizens Author: ASJ, HH Editor: AB, HH 23.05.2015 thirty-five past five p.m. number of readings: 331 Long-Presse Baghdad Assyria bank, announced on Saturday that 13 private banks took the initiative to reduce the dollar exchange for citizens and companies the price of banking, as he emphasized that this step comes in support of monetary policy of the Central Bank and to ensure exchange rate stability. The Managing Director of the Bank of Assyria Adnan Chalabi during a press conference held in Baghdad and attended (range Press), that "the 13 private banks took the initiative to reduce the cash rate for the dollar for citizens and companies banking price support monetary policy of the Central Bank and to ensure exchange rate stability." He said Chalabi, said that "banks will start tomorrow since the sale of the dollar price for 1193 dinars, and the price of 1192 dinars to the remittances," noting that "these banks are the Bank of Assyria, the Middle East, and across Iraq, the Islamic and national levels, and the Union, and the Gulf, and Dar es Salaam, the Muslim and the country, and the Iraqi Islamic, and United, and the Bank of Irbil, the trade and the region, and the Iraqi Credit Bank ". He pointed Chalabi, that "the announcement of the other banks that are expected to take such a step will be later," pointing out that "the initiative banks to reduce will follow their customers from banking companies to commit to this initiative and open windows to the public and selling prices specified". The specialize in the banking sector attributed, in (April 9, 2015), the reason for the high dollar exchange in front of the dinar to the last Central Bank special procedures to deduct customs duties and taxes in advance, and called for a "freeze" the resolution, as expected continued decline in the value of the Iraqi dinar, stressed the need the abolition of Article 50 of the budget. The Central Bank of Iraq announced, in (17 March 2015), the adoption of a new mechanism for the payment of taxes and control of "money laundering" through prepayment of taxes and customs for goods entering Iraq, returned to that will double the country's imports. The International Monetary Fund predicted in (21 March 2015), the high proportion of the deficit in the budget for Iraq in 2015 to more than the proportion of 12% announced by the government, because of lower oil prices and the weakness of the possibility of Iraq's commitment to export 3.3 million barrels per day, and assume the budget, He suggested the implementation of reform measures include strict austerity in investment projects, and a commitment to reducing expenses, and the revision of the maximum limits of central bank sales of the currency, referring to the overall growth contraction, and the prospect of rising inflation slightly the end of this year. The current year's budget law, committed the Central Bank of Iraq, in paragraph 50, identifying sales of foreign currency (dollar) in the daily auction ceiling does not exceed 75 million dinars, with the exercise of justice in the sale, and claim participant in the auction the bank to provide the introduction of goods and data documents settling accounts and tax savings Alkmarki within 30 days from the date of the purchase amount, and so it applied the sanctions set forth in the Central Bank Act or regulations issued it, and use other banking instruments to maintain the strength of the dinar against the dollar. 4 Link to comment Share on other sites More sharing options...
navira45 Posted May 23, 2015 Report Share Posted May 23, 2015 Nice Link to comment Share on other sites More sharing options...
coolbreeze Posted May 23, 2015 Report Share Posted May 23, 2015 is this a good thing for us? Link to comment Share on other sites More sharing options...
yota691 Posted May 23, 2015 Author Report Share Posted May 23, 2015 Private banks cut dollar selling prices for citizens 1193 dinars Saturday 23 May 2015 | 17:31 That a number of private banks took the initiative to reduce the price of the dollar to 1193 dinars for direct sale to the citizens and businesses of banking Qurtas News / Baghdad Initiated some Iraqi private banks on Saturday, reducing the dollar's exchange rate against the dinar for those wishing to buy from citizens, saying it would monitor the shops, banking contractors for selling the dollar. The Managing Director of the Bank of Assyria Adnan Chalabi told a news conference in Baghdad, said that "13 private banks are Assyria, the Middle East, through Iraq, the National Islamic, Union, Gulf, Dar es Salaam, the Islamic country, the Islamic Iraqi, United, Erbil, the region trade , Iraqi credit, took the initiative to reduce cash sales for citizens and companies banking B1193 price dinars to the dollar and the price of 1192 dinars to the dollar of remittances and starting on Sunday, in support of monetary policy of the Central Bank and to ensure exchange rate stability. " The Chalabi that "the announcement of the other banks, which expect it Stkhti step these banks will be announced later," adding that "banks Initiative reduction will follow their customers from banking companies to commit to this initiative and open windows to the public and selling prices specified". Association of Banks: private banks took the initiative to reduce cash sales of the dollar starting from tomorrow Saturday 23 May 2015 17:07 Alsumaria News / Baghdad The Iraqi Association of Banks, Saturday, an initiative to reduce cash sales of dollars to citizens and banking companies from tomorrow Sunday, indicated that it will be sold for 1193 dinars to the dollar. The association said in a statement Sumerian received News a copy of it, he was "in support of monetary policy of the Central Bank of Iraq and to ensure the stability of the exchange rate took the initiative of private banks (Ashur, the Middle East , acrossIraq , the National Islamic, Union, Gulf, Dar es Salaam , the Islamic country, the Islamic Iraqi, United, Arbil, commercial region, the Iraqi credit) to reduce cash sales for citizens and companies banking rate for 1193 dinars to the dollar and the price of 1192 dinars to the dollar of remittances, "adding that it" will be starting tomorrow Sunday 24 of May. " Association of Banks added that "banks will follow their customers from banking companies to commit to this initiative and its windows open to the public and sell these specific prices." The deputy head of the parliamentary Economic Committee Harith al-Harthy expected, in (April 12, 2015), the low dollar exchange rates against the dinar during the next two days, while pointing out that some of the "mafias" in controlling and manipulating the markets in prices according to their interests. The dollar price in the domestic market in front of the Iraqi dinar gradually during the last period up to 1335 dinars to the dollar, compared to 1200 dinars to the dollar by the end of last year 2014. 2 Link to comment Share on other sites More sharing options...
newbieDA Posted May 23, 2015 Report Share Posted May 23, 2015 Yota! you are awesome at gathering the news and consistant! I followed you and have read your news for years and joined the site to say thank you to you Yota! 5 Link to comment Share on other sites More sharing options...
yota691 Posted May 23, 2015 Author Report Share Posted May 23, 2015 Yota! you are awesome at gathering the news and consistant! I followed you and have read your news for years and joined the site to say thank you to you Yota! Thanks newbieDA and Welcome to DV..We got a Great bunch of Folks here...that makes this site #1.... 5 Link to comment Share on other sites More sharing options...
tommyboy Posted May 23, 2015 Report Share Posted May 23, 2015 So the private banks get the 1 dinar vig for every $1 traded? No get rich quick scheme, fer sure. 1 Link to comment Share on other sites More sharing options...
newbieDA Posted May 23, 2015 Report Share Posted May 23, 2015 Association of Banks added that "banks will follow their customers from banking companies to commit to this initiative and its windows open to the public and sell these specific prices." This is good too, the banks that sell at higher prices will have to watch their customers leave for these new banking companies or commit to this new lower 1193 exchange or lose out haha 1 Link to comment Share on other sites More sharing options...
new york kevin Posted May 23, 2015 Report Share Posted May 23, 2015 To sum up, Alsumaria News / Baghdad The Iraqi Association of Banks, Saturday, an initiative to reduce cash sales of dollars to citizens and banking companies from tomorrow Sunday, indicated that it will be sold for 1193 dinars to the dollar. The dollar price in the domestic market in front of the Iraqi dinar gradually during the last period up to 1335 dinars to the dollar, compared to 1200 dinars to the dollar by the end of last year 2014. Someone please clarify. They are reducing the cash sales of USD inside Iraq by ???? increasing the cost to buy USD or by lowerig the cost? Last time I checked the world wide exchange rate of IQD per the CBI was still in the 1160 +/- range. What was the previous in country cost to buy USD? How will this exactly effect the exchange rate via the CBI? How does this work with alledged policies and desires for the CBI and GOI to RV? Sorry I am just not the sharpest tool in the shed when it comes to this article. Yup, just off the CBI site:US dollar USD 1166.000 sell, 1164.000 buy . Link to comment Share on other sites More sharing options...
newbieDA Posted May 23, 2015 Report Share Posted May 23, 2015 To sum up, Alsumaria News / Baghdad The Iraqi Association of Banks, Saturday, an initiative to reduce cash sales of dollars to citizens and banking companies from tomorrow Sunday, indicated that it will be sold for 1193 dinars to the dollar. The dollar price in the domestic market in front of the Iraqi dinar gradually during the last period up to 1335 dinars to the dollar, compared to 1200 dinars to the dollar by the end of last year 2014. Someone please clarify. They are reducing the cash sales of USD inside Iraq by ???? increasing the cost to buy USD or by lowerig the cost? Last time I checked the world wide exchange rate of IQD per the CBI was still in the 1160 +/- range. What was the previous in country cost to buy USD? Sorry I am just not the sharpest tool in the shed on this article. the market price is 1305 within the market http://www.rs.iq/ the exchange rate is 1166 http://www.cbi.iq/ there is an 8% remittances fee which was enacted which should bring that too 1193 sell price to the market CBI sent out a warning to all to stop selling so high To / banks approved to exercise all banking - licensed remittance companies all - to broker the sale and purchase of foreign currencies approved all companies (Warning) 05/05/2015 CBI opened up all these outlets to sell the dollar with the correct market price and to stop it to get the exchange rate back within 2%, IMF compliance, after 90 days of this they are eligible for Article 8 5 Link to comment Share on other sites More sharing options...
new york kevin Posted May 23, 2015 Report Share Posted May 23, 2015 Cool Newbie move on the info Newbie DA. You may stay on DV. 2 Link to comment Share on other sites More sharing options...
k98nights Posted May 23, 2015 Report Share Posted May 23, 2015 This is good too, the banks that sell at higher prices will have to watch their customers leave for these new banking companies or commit to this new lower 1193 exchange or lose out haha Could possibly set up competition in the marketplace which eventually leads to something closer to a 1 to 1 rate?? 6 Link to comment Share on other sites More sharing options...
newbieDA Posted May 23, 2015 Report Share Posted May 23, 2015 Could possibly set up competition in the marketplace which eventually leads to something closer to a 1 to 1 rate?? I am looking at in baby steps, its outta control by the mafias and money changers, need to hit them hard, take em out, thats the plan I see 2 Link to comment Share on other sites More sharing options...
k98nights Posted May 23, 2015 Report Share Posted May 23, 2015 I am looking at in baby steps, its outta control by the mafias and money changers, need to hit them hard, take em out, thats the plan I see That's a decades long process that after 115 years we've finally got a handle on here in the US. Hope it doesn't take that long! 1 Link to comment Share on other sites More sharing options...
new york kevin Posted May 23, 2015 Report Share Posted May 23, 2015 I like this thread very well. Thanks for clarifying stuff for me newbie DA and K98nights. I also appreciate that link you provided newbie http://www.rs.iq/ it goes directly to the ISX market index. I have been searching somewhat over the past years for such a site to gain further knowledge on some detailed in's and out's of the ISX inorder to develope and test potential ISX investment strategies when I have more than pocket change or the actually get themselves onto Nasdaq. Whichever comes first. 1 Link to comment Share on other sites More sharing options...
k98nights Posted May 23, 2015 Report Share Posted May 23, 2015 All we're looking for is a little truth Kevin! LOL Finding that in Iraq is like finding an Oliva Serie V in a street-side tobacco stand! LOL 2 Link to comment Share on other sites More sharing options...
Rasica Posted May 23, 2015 Report Share Posted May 23, 2015 Back in July 30, 2014 The Security Council of The U.N. extended the mandate of the United Nations Assistance Mission for Iraq (UNAMI) for another year until 31 July 2015. This date is profoundly interesting with the timeline of Iraq now beginning in earnest to "cleaning up their act" financially. For example Article 8 within 90 days. All I can say is that where's there's smoke there's fire. Interesting to say the least. 1 Link to comment Share on other sites More sharing options...
markb57 Posted May 23, 2015 Report Share Posted May 23, 2015 i fail to see any excitement here.... 1 1 Link to comment Share on other sites More sharing options...
Boozer Posted May 24, 2015 Report Share Posted May 24, 2015 2% compliance I think they have been there for some time now.. I too am not seeing much here Link to comment Share on other sites More sharing options...
sandfly Posted May 24, 2015 Report Share Posted May 24, 2015 THANKS YOTA Link to comment Share on other sites More sharing options...
yota691 Posted May 24, 2015 Author Report Share Posted May 24, 2015 Association of Banks: cash sales of dollars for dinars in 1193 from todayEconomy and tenders Since 24.05.2015 at 11:48 (GMT Baghdad) BAGHDAD - scales News The Iraqi Association of Banks, an initiative to reduce cash sales of dollars to citizens and banking companies as of Sunday, indicated that it will be sold for 1193 dinars to the dollar. The association said in a statement, received / scales News / copy of it: "support the monetary policy of the Central Bank of Iraq and to ensure the stability of the exchange rate has initiated special Assyria banks, the Middle East, through Iraq, the National Islamic, Union, Gulf, Dar es Salaam, the Islamic country, the Iraqi Islamic , United, Arbil, commercial region, the Iraqi credit to reduce cash sales for citizens and companies banking rate by 1193 dinars to the dollar and the price of 1192 dinars to the dollar of remittances. " She explained that "will be starting on Sunday, May 24, the current sale price mentioned." Association of Banks added that "banks will follow their customers from banking companies to commit to this initiative and its windows open to the public and sell these specific prices." The dollar prices in the domestic market has seen a big increase reached more than 1,300 dinars to the dollar. End 1 Link to comment Share on other sites More sharing options...
yota691 Posted May 24, 2015 Author Report Share Posted May 24, 2015 14 banks cut dollar .. and adviser Abadi: action shows the Iraqi market ethics Publishing Date: Sat, 23 May two thousand and fifteen 5:18:57 p.m. | Views: 363 BAGHDAD - Today's News The Iraqi Association of Banks, on Saturday, an initiative to reduce the cash sales to the dollar for citizens and companies from the banking, on Sunday, indicated that it will be sold for 1193 dinars to the dollar. The association said in a statement, received "Today's News" a copy of it, he was "in support of monetary policy of the Central Bank of Iraq and to ensure the stability of the exchange rate took the initiative of private banks (Ashur, the Middle East, through Iraq, the Islamic National, Union, Gulf, Dar es Salaam, the Islamic country, Islamic Iraqi, United, Arbil, commercial region, the Iraqi credit) to reduce cash sales for citizens and companies banking rate by 1193 dinars to the dollar and the price of 1192 dinars to the dollar remittances of Btdae on Sunday. " Association added that "banks will follow their customers from banking companies to commit to this initiative and its windows open to the public and sell these specific prices." For his part, he said the appearance of Mohammed Saleh, Prime Minister Haider al-Abadi Counselor for Economic Affairs, said that "This initiative shows the Iraqi market ethic, a goodwill gesture by these banks." Saleh added, in an interview with "Today's News" that "these banks account for more than 50% of the bidders on the proportion of hard currency." Saleh pointed out that "the government's economic policy direction of the market is starting to bear fruit, the Azad period before the central bank raised the dollar amount of the sale and the amount of remittances to support these banks." Saleh stressed that "this gesture prevent speculation that harm the Iraqi economy." Saleh pointed out that "the Central Bank of Iraq trillion dinars allocated for the financing of small and medium enterprises, will be allocated for the banks to maintain their liquidity and revitalization engaged with customers, which necessarily will push stock prices to rise." Link to comment Share on other sites More sharing options...
Officiallytook Posted May 24, 2015 Report Share Posted May 24, 2015 You know what I see...education to our people..."stop paying those inflated banks...and report those who disobey... Propaganda is news All ^ is good news...and knowledgeable Also...I'm loving the 90 days theatrics... Link to comment Share on other sites More sharing options...
newbieDA Posted May 24, 2015 Report Share Posted May 24, 2015 you see what they just did? the just made the echange rate 1193IQD to 1USD in a split second lol money changers must be Link to comment Share on other sites More sharing options...
skeetdog Posted May 24, 2015 Report Share Posted May 24, 2015 I've tried to get some attention on just how important Article 8 is in being compliant... it hasn't been a big seller...The WTO and the UN have major issues with Iraq bein' compliant with Article 8 and are serious in their intension... 1 Link to comment Share on other sites More sharing options...
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