CBI News 11/28/2018

[yota691]

Replacing the dollar with another currency for travelers to the Islamic Republic of Iran

 

  

 November 28, 2018

 

[mr.unlikely]

Wow this is the best news I've heard all week... well it might be if I read Arabic!?$

thanks for bringing it Yota. I'm sure a translation will follow.

OR, maybe I just neeed more ☕️ 

[yota691]

In the document .. Central directed not to grant the dollar to those wishing to travel to Iran

 

 

 

Number of readings: 513 28-11-2018 02:10 PM

 

 

28-11-2018 02:10 PM 

 

The Central Bank of Iraq (CBE) on Wednesday issued a directive to banks and exchange companies authorized not to grant the dollar to those wishing to travel to Iran. 

According to a document issued by the Central Bank, not to grant the dollar currency to those wishing to travel to the Islamic Republic of Iran and possible to replace the dollar in another currency.

The document referred to the contents of the announcement of the president of the Iranian Chamber of Commerce on the cancellation of the dollar in trade with Iraq.

[yota691]

The Central Bank directs the banking companies to cancel the dollar in dealing with Iran

28/11/2018 04:03 PM | Number of readings: 1

 

 

 

 

 The Central Bank of Iraq directed to banks and exchange companies authorized by its administration, to cancel the currency of the dollar in trade with Iraq.

  The bank directed the banks to take this into account, especially for travelers to the Islamic Republic of Iran, where it requires replacing the dollar in another currency.

 

 

[6ly410]

Bump

[Butifldrm]

The central bank directs banks not to grant the dollar to those wishing to travel to Iran

 

Banks

Economy News _ Baghdad The Central Bank of Iraq, on Wednesday, banks and exchange companies authorized not to grant the dollar to those wishing to travel to Iran. A document issued by the Central Bank and obtained "Economy News" a copy, not to grant the dollar currency to those wishing to travel to the Islamic Republic of Iran and possible to replace the dollar in another currency.  The document referred to the contents of the announcement of the president of the Iranian Chamber of Commerce on the cancellation of the dollar in trade with Iraq.    http://economy-news.net/content.php?id=14542

[6ly410]

The central bank directs banks not to grant the dollar to those wishing to travel to Iran

 

http://economy-news.net/content.php?id=14542

 

28/11/2018

Economy News _ Baghdad

The Central Bank of Iraq, on Wednesday, banks and exchange companies authorized not to grant the dollar to those wishing to travel to Iran.

A document issued by the Central Bank and obtained "Economy News" a copy, not to grant the dollar currency to those wishing to travel to the Islamic Republic of Iran and possible to replace the dollar in another currency.
The document referred to the contents of the announcement of the president of the Iranian Chamber of Commerce on the cancellation of the Commerce on the cancellation of the dollar in trade with Iraq.

Edited November 28, 2018 by 6ly410

[DinarDavo]

1 minute ago, 6ly410 said:

The central bank directs banks not to grant the dollar to those wishing to travel to Iran

 

http://economy-news.net/content.php?id=14542

 

28/11/2018

Economy News _ Baghdad

The Central Bank of Iraq, on Wednesday, banks and exchange companies authorized not to grant the dollar to those wishing to travel to Iran.

A document issued by the Central Bank and obtained "Economy News" a copy, not to grant the dollar currency to those wishing to travel to the Islamic Republic of Iran and possible to replace the dollar in another currency.
The document referred to the contents of the announcement of the president of the Iranian Chamber of Commerce on the cancellation of the Commerce on the cancellation of the dollar in trade with Iraq.

 

You want to stop USD going to Iran? Here's an idea.....stop the auctions..........done.

[chris2028]

Thanks Yota! Great News!

[10 YEARS LATER]

3 hours ago, mr.unlikely said:

Wow this is the best news I've heard all week... well it might be if I read Arabic!?$

thanks for bringing it Yota. I'm sure a translation will follow.

OR, maybe I just neeed more ☕️ 

 

For clarity of mind and cutting through foggy brain syndrome, I find that a couple of tablespoons ( don’t want to overdo it ) of coffee with my Mug O’ Scotch first thing in the morning really kick starts my day 

😄

[BKD]

Thanks Yota, keep up updated on this info.

[Laid Back]

“cancellation of the dollar in trade with Iraq”

 

 The balance of trade tends to be in the favor of Iran, where the value of trade with Iraq amounted to about $ 12 billion in the past, compared to about 700 million dollars for Iraq only.

 

I hope they start using the Iraqi dinar.

 

Go CBI

Go Dinar

Go RV 

Go $1:1

Go trade

 

 

[King Bean]

I thought the US gave Iraq an 'exemption' of some kind, to work out details on trade and currency, euro or dinar, etc. 45 days as I remember. Puts it at about December 20th. Just perfect for the CBI to make a switch for the new year. 

                                                                                                                                    

[Mammaw]

Interesting posts Yota. Thank you. But I too am wondering how this can actually be pulled off. If someone wants to exchange currency for US Dollar who is to say they have to tell you they are going to spend it in Iran? Now if the bank is going to do business with another business in Iran, they could have some control over what they "electronically" work with in the way of currency. But this doesn't sound feasible  to me. IMO.

[10 YEARS LATER]

To be sure no traveler is taking USD into Iran: might I suggest a complete body pat down, X-Ray and for those who’s hobby could now be a full filling job - A Cavity Search .... geez, do we have to think of everything for you knuckle heads ?

[Officiallytook]

Exactly 10yrs so it's gotta be another play here since you've stayed the obvious most correct way to cease this 🤣🤣🤣 so this has got to be good news for us for Iraq and for the world possibly

[psdon]

" Iranian ambassador to Baghdad said Iran and Iraq are weighing plans to eliminate US dollar in trade transactions and also lift visa requirements for citizens of the two countries."  Quote from Botzwana

[DoD]

An easy fix would be to discontinue the use of the US Dollar period.....

[10 YEARS LATER]

25 minutes ago, DoD said:

An easy fix would be to discontinue the use of the US Dollar period.....

 

Apparently this forthright common sense has never made its way into Iraq - otherwise we ALL would be allot further on down the road than we are. 

 

Folks wuth sun baked brains 🧠 just refuse to see it .... there’s that and the Epic Corruption factor that doesn’t allow for it. 

[Laid Back]

The CBI is moving from a closed economy to an open market economy. To get there

they need to remove exchange control, stop the daily auctions and let the dinar to be subject to the forces of supply and demand.

 

In light of international trade and financial exchanges, Iraq has moved to important regulatory levels in the transition to a market economy, to break the effects of its international isolation, progress in financial services and improve the foreign investment environment, through banking and investment law, the Central Bank Law and amendment of companies law which allows foreign banks to work in Iraq and allows the transfer of capital and currency in a way that serves the openness of Iraq to the world, in the conditions of a central rent economy difficult to understand the liberal market, which nevertheless provided positive opportunities and legal and regulatory promising foundations for Iraqi Business environment .

 

IMF predicted that “Iraq ‘s reserves to reach in 2018 to $ 62 billion, and then rise to $ 91 billion in 2020; as a result of improvement in the conditions of the Iraqi economy and oil exports and its derivatives and sufficiency of imported electricity for some provinces and gas export and promotion of tourism, industry, and all of which are promising economic resources.

 

Go Open market economy 

Go supply and demand

Go dinar real value 

 

[Donziman]

Dinar Davo is correct. The auctions are selling 160 to 170 million dollars per day.

Most of this goes to the underground pipe line supporting iran and their terrorist

groups. Dollars given to tourist is a tiny little amount in reality 

[Butifldrm]

urgently .. Iraq begins with the application of US sanctions on Iran

 

  

Twilight News    

 2 hours ago

The Central Bank of Iraq, on Wednesday, banks and exchange companies across the country not to sell the dollar for those wishing to travel to Iran. 
 An official document issued by the bank urged banks and items to commit to canceling the dollar in trade with Iran. 
He called on the Iraqi Central to direct passengers to Iran to replace the US dollar in another currency. 
Earlier this month, the United States imposed a second package of sanctions on Iran, including oil exports and US dollar transactions. 

The former Iraqi Prime Minister Haider Abadi, has announced his country's commitment to sanctions imposed by the United States of America on Iran, especially in dealing with the dollar.

But current Prime Minister Adel Abdul Mahdi, announced that his country is not part of the system of US sanctions on Iran, and will take a position similar to the European position, Russia and China.

 

 

Keywords: 

http://www.shafaaq.com/ar/Ar_NewsReader/af5a110d-643d-41ba-8c0f-6180c9b48193

[6ly410]

27 minutes ago, Butifldrm said:

 

 

Economy
urgently .. Iraq begins with the application of US sanctions on Iran

 

 Twilight News    

 

 2 hours ago

 

 

The Central Bank of Iraq, on Wednesday, banks and exchange companies across the country not to sell the dollar for those wishing to travel to Iran. 
 An official document issued by the bank urged banks and items to commit to canceling the dollar in trade with Iran. 
He called on the Iraqi Central to direct passengers to Iran to replace the US dollar in another currency. 
Earlier this month, the United States imposed a second package of sanctions on Iran, including oil exports and US dollar transactions. 

The former Iraqi Prime Minister Haider Abadi, has announced his country's commitment to sanctions imposed by the United States of America on Iran, especially in dealing with the dollar.

But current Prime Minister Adel Abdul Mahdi, announced that his country is not part of the system of US sanctions on Iran, and will take a position similar to the European position, Russia and China. 

 

 

Keywords: 

http://www.shafaaq.com/ar/Ar_NewsReader/af5a110d-643d-41ba-8c0f-6180c9b48193

Bump

[SocalDinar]

Iraqi central bank bans citizens from taking dollars into Iran

Ali Larijani, speaker of the Iranian parliament, is seen at the Iran-Iraq border

 

 

By bne IntelliNews November 28, 2018

The Central Bank of Iraq on November 28 sent out a memo to banks and bureaux de change banning the selling of US dollars to Iraqi citizens looking to travel across the border to Iran.

Iraq is in a precarious situation in that it needs to balance the competing demands of Iran—Iraq remains Iran’s biggest export market—and Washington when it comes to following the heavy sanctions regime reimposed on Tehran by the US. Whether the dollar move is backed up with enough enforcement to make it more than a formality, designed to encourage the Americans to relent in other sanctions areas, remains to be seen. After the US triggered sanctions against Iran’s energy and banking sectors on November 5, Baghdad successfully obtained a 45-day waiver allowing it to continue importing Iranian gas. Iraq will likely apply to US Office of Foreign Assets Control (OFAC) for an extension of the exemption. The sanctions aimed at neighbouring Iran have already substantially hurt the Iraqi economy.

A document issued by the Iraqi central bank and obtained by bne IntelliNews states that the US dollar must not be provided to those stating an intention to travel to Iran. An alternative currency is to be provided.

Iraq and Iran have previously said that they would use the euro and Iraqi dinar for bilateral trade to avoid secondary sanctions from the US hitting Baghdad. The document referred to an announcement of the president of the Iranian Chamber of Commerce on the cancellation of the use of the dollar in trade with Iraq.

Harsh economic attack
The Trump administration is conducting a harsh economic attack on Iran, throttling it with unprecedentedly tough sanctions to try to pressure Tehran to come to the table to renegotiate its Middle East policies and activities, particularly in conflict zones.

Iraq, meanwhile, is enjoying a growing place for its products on the Iranian market given the difficulties producers in Iran are having in importing raw materials in the face of the sanctions.

Looking at trade flowing the other way, Iraq imported some $6bn of Iranian goods—from air conditioners to agricultural products to car parts—in the year to March, amounting to around 15% of its overall imports last year. Much of the trade is conducted by private Iraqi companies said to have limited exposure in and to the US, and its financial system, and therefore not overly anxious about being sanctioned.

On November 21, Iran announced that smuggled goods with a value of at least $12bn flowed into and out of Iran during the 2017/2018 Persian calendar year (ended March 21).

http://www.intellinews.com/iraqi-central-bank-bans-citizens-from-taking-dollars-into-iran-152759/

 

[mr.unlikely]

22 hours ago, 10 YEARS LATER said:

To be sure no traveler is taking USD into Iran: might I suggest a complete body pat down, X-Ray and for those who’s hobby could now be a full filling job - A Cavity Search .... geez, do we have to think of everything for you knuckle heads ?

Hey 10, a cavity search? Does their a$$ look like a piggy bank to you? Lol