Laid Back Posted December 18, 2018 Report Share Posted December 18, 2018 They will use the riyal and the dinar through a letters of credit. A letter issued by a bank to another bank (typically in a different country) to serve as a guarantee for payments made to a specified person under specified conditions. Go open market economy Go import and exports Go RV Go $1:1 1 2 9 Quote Link to comment Share on other sites More sharing options...
jeepguy Posted December 18, 2018 Report Share Posted December 18, 2018 Gets the dinar rolling , from iraq to Iran to Syria , then the Dominoes fall into place ! The crossroads of commerce is Iraq , the currency needs to be dinar ! 1 to 1 5 Quote Link to comment Share on other sites More sharing options...
Butifldrm Posted December 18, 2018 Report Share Posted December 18, 2018 I'm reposting this in this thread! Iran sees the world heading for "renunciation" of the dollar 11:45 - 17/12/2018 0 Information / Baghdad .. Iranian foreign ministry spokesman Bahram Qasimi said Monday that the call for the replacement of local currencies instead of the dollar has become an international and regional call. "Many countries in the region and the world are calling for monetary exchange in local currencies as a result of the obstacles that the US is putting in using the dollar," Qassimi said at his weekly press conference. "We will not stand idly by in return for the heavy pressure exerted by the US Treasury Department on companies and countries to stop cooperating with us," he said. "The European exchange mechanism with Iran is not limited to food and medicine, but includes other fields," the foreign ministry spokesman said. Ending / 25 https://www.almaalomah.com/2018/12/17/374205/ 3 2 Quote Link to comment Share on other sites More sharing options...
presence Posted December 18, 2018 Report Share Posted December 18, 2018 jmartin1145- Try not to stress or worry too much about 'the end of times'....it was just a year or so ago when many weee concerned about 'Rocket Man' creating a problem for many of us, but 'things have a way of working out' - all of humanity 'has protection' in unseen forms - thank God - peace~ 1 4 1 Quote Link to comment Share on other sites More sharing options...
crane Posted December 18, 2018 Report Share Posted December 18, 2018 O good ,one worthless currency exchange with another, O good, what good can come out of that ?????????????i in the form of ,a letter of credit to boot , lets see more ink on paper between two liars ,that should work real well ,like all the other times ,and the sad thing about it all, the american dollar backing one country, while putting restrictions on the other ?????????????????? How does that equate to anything good????????????????? Iraq needs to remember crawl in bed with a snake expect to get bit. 4 1 Quote Link to comment Share on other sites More sharing options...
Officiallytook Posted December 18, 2018 Report Share Posted December 18, 2018 So Iraq can pay them back with money other countries already holding for them? 🤔🤔🤔 Quote Link to comment Share on other sites More sharing options...
yota691 Posted December 18, 2018 Author Report Share Posted December 18, 2018 Iraqi-Iranian negotiations for trade through the riyal and the dinar money and business Economy News _ Baghdad An Iranian official said on Tuesday that negotiations between the central bank of Iran and Iraq to finalize the opening of credit between the banks of the two countries officially through the use of the Iranian riyal and the Iraqi dinar. "We have no problem with exports to Iraq," said Yahya al-Ishaq, head of the Joint Iranian-Iranian Chamber of Commerce, in an interview with the Tasnim news agency. "We have had exports in the past 8 months, equivalent to the total exports last year. , And reached 8 billion dollars. " He added that "negotiations are underway and close to completion between the Central Bank of Iran and Iraq to be the process of opening credit through banks and formally through the adoption of the riyal and the dinar." "If this agreement is signed by both countries, the banks of the two countries will be able to open L / C credit to each other," he said. "The financial transactions of the two countries' traders are currently underway through banking and a limited number of banks," he said. Views 76 Date Added 12/18/2018 1 2 Quote Link to comment Share on other sites More sharing options...
yota691 Posted December 18, 2018 Author Report Share Posted December 18, 2018 Iraqi-Iranian negotiations for trade through the riyal and the dinar Tuesday, December 18, Alsumaria News / Baghdad An Iranian official revealed that negotiations between the Central Bank of Iran and the Iraqi to finalize the opening of credit between the banks of the two countries officially through the use of the Iranian riyal and the Iraqi dinar. "We have no problem with exports to Iraq ," said Yahya al-Ishaq, chairman of the joint Iranian-Iranian Chamber of Commerce. "Our exports have reached 8 billion dollars in the past eight months. Dollars ". He added that "negotiations are underway and close to completion between the Central Bank of Iran and Iraq to be the process of opening credit through banks and formally through the adoption of the riyal and the dinar." "If this agreement is signed by both countries, the banks of the two countries will be able to open L / C credit to each other," he said. "The financial transactions of the two countries' traders are currently underway through banking and a limited number of banks," he said. 1 2 Quote Link to comment Share on other sites More sharing options...
dinarham Posted December 18, 2018 Report Share Posted December 18, 2018 Trade between Iraq and Iran must be through wire transfer . The sheer volumn of cash required would be a logistical nightmarel 1 Quote Link to comment Share on other sites More sharing options...
psdon Posted December 18, 2018 Report Share Posted December 18, 2018 can we buy the riyal? Quote Link to comment Share on other sites More sharing options...
normala rashid Posted December 19, 2018 Report Share Posted December 19, 2018 Iran - iraq should make a digital currency as free trade like a bitcoin to solve problem about their low value currency in global and market by not only focus on bangking . 🙄. i hope abadi can read my message . 1 Quote Link to comment Share on other sites More sharing options...
yota691 Posted December 31, 2018 Author Report Share Posted December 31, 2018 Iran's exports to Iraq reach nearly $ 7 billion in nine months 10:27 - 30/12/2018 Baghdad balances News revealed the Iranian Customs Department, Sunday, for the export of goods by about $ 7 billion to Iraq, since the beginning of March to the end of December 2018. A report by the department, "Iran exported 86.94 million tons of non - oil commodities from Of $ 33 billion and $ 358 million in the last nine months of this year, starting March 20, 2018, registering a growth of 5.4% over the same period last year. " He added that "the volume of imports of goods during this period amounted to 33 million 871 thousand tons worth 32 billion and 620 million dollars, which saw a decline in size and value of 13.27% and 15.9, respectively, compared to the same period last year." "Gas liquids, natural gas, liquid propane, methanol and light oils have been at the top of imports. Iraq has exported non-oil importers in the last nine months, with exports of US $ 6 billion and US $ 929 million, followed by China, With imports of Iranian goods worth $ 5 billion and $ 134 million, followed by Afghanistan and Turkey, where imports of Iranian goods amounted to $ 2 billion, $ 337 million, $ 1 billion and $ 912 million, respectively. Ended m h n Quote Link to comment Share on other sites More sharing options...
yota691 Posted January 2, 2019 Author Report Share Posted January 2, 2019 Minister of Planning discusses with the Iranian ambassador the bilateral relations between the two countries Part of the meeting that brought together al-Dulaimi and Musjdi money and business Economy News Baghdad The Minister of Planning, Nuri al-Dulaimi, received on Wednesday the Iranian ambassador to Iraq, Erj Musjidi, during which they discussed the trade and economy between Iraq and Iran and ways to enhance the volume and quality of trade exchange to serve the two countries. The Ministry of Planning said in a statement received by "Economy News" that the Minister of Planning stressed "during the meeting the importance of strengthening the role of Iraqi and Iranian quality control systems, according to the memorandum of understanding signed between them," noting the "importance of qualitative development of bilateral relations in the medical and commercial fields, Remarkable during the last period, according to the data of the Ministry of Planning. For his part, Ambassador Masjidi, according to the statement, that "his country attaches special attention to the development of bilateral relations, based on the promotion of common interests." The meeting reviewed the vision of the Ministry of Iraq 2030, the magnitude of the challenges facing the executive bodies in the Iraqi government, and the possible ways to overcome all difficulties in joint cooperation between the two countries. Views 3 Date Added 02/01/2019 1 1 Quote Link to comment Share on other sites More sharing options...
yota691 Posted January 3, 2019 Author Report Share Posted January 3, 2019 Iran: We have become the largest exporter of Iraq and we have identified giant projects Twilight News 2 hours ago Iran has become the first destination for exports of Iranian goods, worth over $ 7 billion in the past eight months, the head of Iran's Trade Development Organization Mohammad Reza Mudoudi said. "Non-oil exports grew by 13 per cent in the first eight months of the current Iranian year (March 21, 2018) and exceeded $ 33 billion," Mudoudi told reporters on the sidelines of the first joint meeting for the development of exports of ICT services Wednesday. "We believe that this pace will increase Until the end of this year / ends on 20 March 2019. " Iran has overtaken India, China and Turkey in the Iraqi market, and Iran has become the biggest exporter to Iraq, with exports worth more than 7 billion dollars, he said. "We have an export capacity of 50 billion dollars based on current capabilities, and to upgrade them, we are identifying mega export projects with a capacity of 10 billion dollars for the next three years," Mudoudi said. Keywords: 1 1 Quote Link to comment Share on other sites More sharing options...
yota691 Posted January 3, 2019 Author Report Share Posted January 3, 2019 Zarif will visit Iraq next week Editorial date: 2019/1/3 15:15 • 79 times read The Iranian foreign minister, Mohammad Jawad Zarif, announced that he will visit Iraq and India starting next week with an economic delegation. "Next week, accompanied by a large economic delegation, I will visit India and a week after my visit to India and I will travel to Iraq," Zarif told a news briefing Thursday. "It is possible that a delegation from the private sector will be with me," Zarif said. "These visits show that the Iranian private sector is very active in the field of international relations," the Iranian foreign minister said 1 Quote Link to comment Share on other sites More sharing options...
yota691 Posted January 4, 2019 Author Report Share Posted January 4, 2019 Iran achieves export boom for Iraq Twilight News 2 hours ago (Xinhua) - Iran's exports to Iraq during the past nine months have grown by 59 percent as Iraq exports the list of countries importing Iranian goods. According to Iran's foreign trade data for the past nine months, Iraq remains the top importer of Iranian goods. The Iranian exports to Iraq during this period 15 million and 485 thousand tons of goods worth 6 billion and 929 million dollars, where it increased by 17.81 by weight and by 20.77 by value. The Iranian exports to Iraq in the same period last year were 9 million and 729 thousand tons of Iranian goods worth 4 billion and 659 million dollars. Thus, Iranian exports to Iraq increased during the last nine months compared to the same period of the previous year by 59.17 in weight and 48.70 percent in terms of value. Keywords: 1 1 Quote Link to comment Share on other sites More sharing options...
yota691 Posted January 7, 2019 Author Report Share Posted January 7, 2019 $ 6.4 billion worth of Iranian exports to Iraq over the past year A border post between Iraq and Iran Arab and international Iran's exports to Iraq reached 11 billion dollars a year, ranking Iran's first importer of Iranian goods, the secretary of Iran's Economic Relations Development Committee with Iraq and Syria Hassan Danai said on Monday. "The size of the export of goods to Iraq reached 6.4 billion dollars last year," Hassan Dannai said in a statement quoted by the Fars news agency. "The volume of Iranian exports to Iraq this year grew by 35 percent, To reach 1.8 billion dollars. " "The volume of Iranian exports to Iraq has grown by more than 40 percent in the nine months of this year," he said. Farr said that "the export of electricity to Iraq has reached 1200 MW and there are ongoing negotiations between the Kurdistan province and the Kurdistan region of Iraq, which will bear fruit in the near future," noting that "Iran exports to Iraq 25 million cubic meters of gas annually, Energy exports to this country 3 billion and 500 million dollars. " Views 22 Date Added 07/01/2019 Quote Link to comment Share on other sites More sharing options...
yota691 Posted January 7, 2019 Author Report Share Posted January 7, 2019 Iraq ranks first in importing Iranian goods at $ 11 billion a year Monday 7 January Alsumaria News / Baghdad announced Iran, Sunday, about occupy Iraq first place in the import of Iranian goods, while confirming the existence of negotiations with the province to export electric power to them. " The volume of Iranian exports to Iraq reached 11 billion dollars a year, taking the first place in the importation of Iranian goods," said Hassan Dannai Far, secretary of the Iranian Economic Relations Development Committee with Iraq and Syria . "The volume of export of goods to Iraq reached 6.4 billion dollars last year, and the volume of Iranian exports to Iraq is expected to grow 35 percent this year and reach 8.1 billion dollars," Dannai said. He pointed out that "the export of electricity to Iraq has reached 1200 MW and there are ongoing negotiations between the Kurdistan region and the Kurdistan region of Iraq, which will bear fruit in the near future," pointing out that "Iran exports to Iraq 25 million cubic meters of gas annually, Energy exports to this country 3 billion and 500 million dollars. " Quote Link to comment Share on other sites More sharing options...
yota691 Posted January 20, 2019 Author Report Share Posted January 20, 2019 Iran: We are waiting for Iraq's position to officially open Sumar port Sunday 20 January Al-Sumerian News / Baghdad The Director General of the Iranian border crossings in the Iranian Interior Ministry Shahriar Haidari, on Sunday, that Iran is waiting for Iraq to open the port of Sumar officially. "Iran has taken all necessary measures to open the port of Sumar officially, and we await the position of Iraq on this matter," IRNA quoted Haidari as saying. "Kermanshah is the first province in terms of export of non-oil Iranian goods to Iraq, Border crossings is one of our priorities. " He added that "Iranian border crossings are making efforts to use the Sumar port for the visitors' movement, especially during the days of the visit of Imam Hussein, peace be upon him, because of his proximity to Karbala ." "The port of Sumar is the closest to Baghdad, Karbala and the southern provinces of Iraq, and we have held negotiations with officials in Iraq to be officially opened and await their position," Haidari said. 1 1 Quote Link to comment Share on other sites More sharing options...
yota691 Posted January 26, 2019 Author Report Share Posted January 26, 2019 26-01-2019 12:23 PM Iran plans to strike agriculture in Iraq Baghdad Israeli newspaper Haaretz has revealed details of Iranian plans to strike at agriculture in Iraq, so as to replace the local production of Iranian imports, while the United States is focusing on expanding the construction of military bases in Mesopotamia as part of its strategy to contain the strengthening of the Iranian presence in the region . The Israeli newspaper in one of its analytical articles, the importance of 'Washington is economically excluding Iran in Iraq, and not just build military bases' . "Washington's announcement that it intends to expand the construction of bases in Iraq as part of its strategy to contain the strengthening of Iran's military presence may simply lead to the empowerment of anti-US forces in the country," the newspaper said . The newspaper said that 'Tomato Iran, not its missiles or unemployment, is what caused the feelings of anger in the city of Basra in southern Iraq this month' . Noting that 'dumping the markets of Basra thousands of tons of Iranian tomatoes, led to the exit of hundreds of farmers to the streets to demand the government to stop the' red tide ', which led to high prices, and caused heavy losses to Iraqi farmers. The tomato market is suffering from a mysterious epidemic that has led to scarcity and rising prices, but farmers say there are enough tomatoes in the country, so there is no need to import them from Iran . Under Iraqi law, products from other countries should not be imported if there is a local alternative, and angry farmers only demand that the law be enforced . Farmers say the mysterious epidemic that has destroyed their tomato crops is part of an Iranian plot, and some insist that Iran is spreading the epidemic . This is not the first time that the Iraqi south has been hit economically. Last October, Iran cut its electricity supplies to Iraq because the Iraqi government did not pay for its previous debts. Three months ago, the flow of water to Basra was cut off . The large Iranian water project, which is nearing completion, could exacerbate Iraq's economic problems and increase its reliance on the Iranian government. The project includes huge dams that have diverted some water sources in Iraq. 1 Quote Link to comment Share on other sites More sharing options...
yota691 Posted February 4, 2019 Author Report Share Posted February 4, 2019 Resolve the problem of the undertakings of exporters of Iranian goods to Iraq in foreign currency Editorial Date: 2019/2/4 16:04 • 22 times read The Iranian-Iranian Chamber of Commerce announced that Iranian banks will replace Iraqi money exchange offices to solve the problem of Iranian exporters' exports to Iraq towards the central bank of Iran. In a press statement, Syed Hamid Hosseini said that the volume of Iranian exports to Iraq decreased last month by saying that "through the new decisions taken by the Central Bank, the problem of national commitments in foreign currency for exporters of goods to Iraq will be resolved. Months ahead ". The secretary-general of the Iran-Iraq Chamber of Commerce discussed a meeting between the Foreign Exchange Department of the Central Bank and the Iranian banks operating in Iraq. "At the said meeting, the Central Bank agreed that the Iranian banks instead of the Iraqi exchange offices would receive the value of goods exported in foreign currency And the Iraqi dinar. "Based on this, it is decided that the Iranian source will hand over the value of selling its goods in Iraq dinars to the branches of Iranian banks in Iraq and receive them in exchange for the price of today to exchange foreign currency from the branches of Iranian banks National Bank (M) and Barsian." "The central bank also agreed to buy these banks on behalf of the central bank from the exporters of the dollar or the Iraqi dinar in Iraq, and the Iranian exporters receive the value of their goods in riyals, so the problem of exporters' commitments to Iraq will be solved in foreign currency," he added. Hosseini expressed his hope that Iran would be able to maintain the pace of exports to Iraq, adding that "the Central Bank of Iran will hold a meeting in Iraq tonight to resolve the potential problems. Hosseini pointed out that "yesterday, this issue was communicated verbally to the Bank of Parisan and the Central Bank and will certainly be implemented after coordination required." 2 1 Quote Link to comment Share on other sites More sharing options...
yota691 Posted February 4, 2019 Author Report Share Posted February 4, 2019 Iran's Central Bank governor to visit Iraq 4 February 2019 13:41 (UTC+04:00) 470 By Trend The Secretary General of Iran-Iraq Chamber of Commerce announced that the governor of Central Bank of Iran Abdolnaser Hemmati will be visiting Iraq on February 5. "The trading status of Iran-Iraq is fairly good, but its trend has slowed down because of the recent policies on return of currency obtained from exports,” the Secretary General of Iran-Iraq Chamber Hamid Hosseini told Trend. "Negotiations for the cooperation of Iranian banks with Iraqi banks have been carried out in this regard and the issue of returning the foreign exchange earned by exporters will be resolved,” he said. Referring to the plans and goals of this visit, Hosseini said that the trip is intended to address the two countries "financial and banking transactions, Iran's gas and electricity demand from Iraq, and a solution to receive exporters' debts through the two countries` banking system". Pointing to Iran's plan to expand trade with Iraq next year, Hosseini said that Iran looks to increase its trade relations with Iraq by some 25 percent. “Iran's next year plan includes launch of a permanent exhibition in Iraq and expand the presence of small and medium-sized enterprises in the Iraqi market,” said Hosseini. “We intend to expand our presence in the Iraqi service market,” he said. "In 2018, we succeeded to get pass Turkey in terms of export of goods; Turkey had 7.3 billion wroth of exports in 2018, and we had 8.5 billion,” he said. 1 1 Quote Link to comment Share on other sites More sharing options...
yota691 Posted February 4, 2019 Author Report Share Posted February 4, 2019 Iran's Central Bank governor to visit Iraq Date 2/4/2019 3:18:14 AM (MENAFN - Trend News Agency) Tehran, Iran, Feb.4 Trend: The Secretary General of Iran-Iraq Chamber of Commerce announced that the governor of Central Bank of Iran Abdolnaser Hemmati will be visiting Iraq on February 5. "The trading status of Iran-Iraq is fairly good, but its trend has slowed down because of the recent policies on return of currency obtained from exports,' the Secretary General of Iran-Iraq Chamber Hamid Hosseini told Trend. "Negotiations for the cooperation of Iranian banks with Iraqi banks have been carried out in this regard and the issue of returning the foreign exchange earned by exporters will be resolved,' he said. Referring to the plans and goals of this visit, Hosseini said that the trip is intended to address the two countries "financial and banking transactions, Iran's gas and electricity demand from Iraq, and a solution to receive exporters' debts through the two countries` banking system". Pointing to Iran's plan to expand trade with Iraq next year, Hosseini said that Iran looks to increase its trade relations with Iraq by some 25 percent. 'Iran's next year plan includes launch of a permanent exhibition in Iraq and expand the presence of small and medium-sized enterprises in the Iraqi market,' said Hosseini. 'We intend to expand our presence in the Iraqi service market,' he said. "In 2018, we succeeded to get pass Turkey in terms of export of goods; Turkey had 7.3 billion wroth of exports in 2018, and we had 8.5 billion,' he said. 1 1 Quote Link to comment Share on other sites More sharing options...
Butifldrm Posted February 4, 2019 Report Share Posted February 4, 2019 2019/02/04 16:30 Number of readings 41 Section: Iraq Iranian-Iraqi Chamber of Commerce announces solution of problem of exporters of goods The Iranian-Iranian Chamber of Commerce announced on Monday (February 4th, 2019) that Iranian banks would replace the Iraqi exchange offices to solve the problem of Iranian exporters' exports to Iraq against Iran's central bank. "Through the new decisions taken by the Central Bank, the problem of national commitments in foreign currency to exporters of goods to Iraq will be resolved, and with these decisions we will witness the growth of exports to Iraq in the coming months," Syed Hamid Hosseini said in a press statement. The secretary-general of the Iranian-Iraqi Chamber of Commerce said that a meeting between the Foreign Exchange Department of the Central Bank and the Iranian banks operating in Iraq was held. "The Central Bank agreed that the Iranian banks instead of the Iraqi exchange offices should accept the value of goods exported in foreign currency, And the Iraqi dinar. "Based on this, it is decided that the Iranian exporter will hand over the value of selling its goods in Iraq to dinars to the branches of Iranian banks in Iraq and receive them in exchange for the price of the day to exchange foreign currency from the branches of Iranian banks" National Bank (Melli) and Parisian. "The central bank agreed at the meeting to buy these banks on behalf of the central bank from exporters of the dollar or the Iraqi dinar in Iraq, and to receive the Iranian exporters the value of their goods in riyals, and thus solve the problem of export commitments to Iraq in foreign currency," Hosseini said. Hosseini expressed his hope that "Iran will be able through this step to maintain the pace of exports to Iraq," adding that "the Central Bank of Iran tonight will meet in Iraq to resolve the potential problems, and will certainly be informed the outcome of the consensus next week." Hosseini said that "yesterday, this issue was communicated verbally to the Bank of Parisan and the Central Bank and will certainly be implemented after coordination required." Follow the obelisk - agencies http://almasalah.com/ar/news/163030/غرفة-التجارة-الايرانية-العراقية-تعلن-حل-مشكلة-مصدري-البضائع 2 Quote Link to comment Share on other sites More sharing options...
Butifldrm Posted February 4, 2019 Report Share Posted February 4, 2019 The Swiss Embassy in Tehran announces the launch of a financial channel with Iran 20:58 - 04/02/2019 0 Information / follow up The Swiss embassy in Iran confirmed on Monday that a financial channel between the two countries would be opened to exchange goods and goods covering both sides' needs. The Swiss embassy wrote on Twitter that Switzerland, in order to launch a transparent financial channel to provide medicines, medical equipment and foodstuffs, was working hard to involve all parties in the matter. The channel is separate from the European financial channel for trade between Iran and Europe and aims to provide goods such as medical devices, medicines and food that are not affected by the US embargo. Switzerland has since begun the necessary measures to open a financial channel with Iran and a group of human rights defenders in the Swiss capital Bern has held separate talks with Iranian officials and US diplomats to open the door to facilitate the trade of medicines, agricultural crops, medical equipment and foodstuffs. Switzerland is on the verge of unveiling this channel for exchange in which various companies can trade with Iran in the list of medicines and medical and food supplies. End 25 n https://www.almaalomah.com/2019/02/04/387131/ 1 2 Quote Link to comment Share on other sites More sharing options...
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