Go Iraq Part 4

[lmb4321]

Many bottles of Champagne on ice.....👍

[DinarThug]

40 minutes ago, lmb4321 said:

Actually so n so did mention the Iran rate change too...

cheers...

 

39 minutes ago, navira said:

Yea? Did he say it rv to .238cents

 

Lol - He Is So And ‘So Five Minutes Ago’ ...

 

     

[navira]

This was Iran's plan back in 2012.....Reuters) - Iran plans to revalue its rial tenfold and revert to the currency's old name, the toman, according to a bill approved on Wednesday by President Hassan Rouhani's cabinet, the official Islamic Republic News Agency (IRNA) said.

[navira]

Does anyone remember when iraq or CBI changed the rate back in 2012...is what iam saying...what bro does the other bro will follow...it's in their blood haha

 

[NEPatriotsFan1]

What a week! Lot’s of things moving around. Hard not to be a little excited. Trying to sleep but you guys keep waking me up  

[Arceo]

Just now, NEPatriotsFan1 said:

What a week! Lot’s of things moving around. Hard not to be a little excited. Trying to sleep but you guys keep waking me up  

Mahdi just went there last week for 3 hours right? Musta went to here the plan cuhhh. 

[NEPatriotsFan1]

2 minutes ago, navira said:

Does anyone remember when iraq or CBI changed the rate back in 2012...is what iam saying...what bro does the other bro will follow...it's in their blood haha

 

Lotta Monkey see Monkey do. I watched it with my own kids. When my son’s older sister did something... he had to do it right along with her 

Edited August 1, 2019 by NEPatriotsFan1

[navira]

Hahaha bro

[lmb4321]

1 minute ago, navira said:

Does anyone remember when iraq or CBI changed the rate back in 2012...is what iam saying...what bro does the other bro will follow...it's in their blood haha

 

 

Go CBI....

[Arceo]

Hope Theyre like camels bro. One hump follows the other. 

[navira]

Lol bro

[navira]

This was back in 2012 bros when Iran announced the plan to revalue the rial. The rate was 12thou to a dollar before the plan to revalue...when the change was announced Wednesday, the rial dipped by about 90 to the dollar before recovering, according to agency Mehr News.

[navira]

Here it is bros....

Iran govt. approves to drop four zeros, revert to toman

Wed Jul 31, 2019 07:44AM [Updated: Wed Jul 31, 2019 10:36AM ]

1. Home
2. Iran
3. Economy

The plan has to go before the parliament for vote and final approval by the Guardian Council.

The Iranian government has approved to revalue its rial tenfold and revert to the currency’s old name, the toman, the Fars news agency reported on Wednesday.

[DinarThug]

46 minutes ago, navira said:

Does anyone remember when iraq or CBI changed the rate back in 2012...is what iam saying...

 

The CBI Raised The Rate A ‘Whopping’ 4 Pips In October Of 2011 - So There Goes That Nutty Theory !  

 

 

     

[navira]

Hey bro thug, didn't the CBI change the rate (1.somthing to a dinar)then reverted back to its rate at 1170 something .this was in 2012...Maliki went after shabibi..

 

 

[ChuckFinley]

3 hours ago, lmb4321 said:

But the CBI can still pull the trigger?....

Iraq maybe on holiday but the world,CBI, and the IMF can do what what needs to be done anytime. 

[ChuckFinley]

With everything going on and news we are waiting on that seems to never show I took a moment to review Adam's post. Take a minute and it will put things in perspective.

______

There will never be an absolute perfect set of circumstances under which Iraq "can" or "should" or "must" change the value of their currency. I see a fair amount of comments from people stating something like "Oh, Iraq will never RV unless X happens, or until Y is implemented", etc etc... 

 

... that is simply not true.

 

There is NO absolute "must" for Iraq. They can change the rate today. Or yesterday, or tomorrow. They can do it without any further progress, without any permission from anyone or anything, and all the speculation in the world won't give us an exact date or a precise set of circumstances.

 

The situation we find ourselves in today, at this very moment, is "good enough".

 

Personally, I'm on standby for an incredible event.

_______

After reviewing his post of 11  July we are even in a better position. It is all coming together.

Edited August 1, 2019 by ChuckFinley

[6ly410]

 

[6ly410]

Nusseiri: Calls on the government to activate its decisions to support private banks

  
 Banks
Economy of Iraq - Baghdad

The economic and banking adviser to the Association of Iraqi private banks, Samir Nusairi, on Thursday, to activate its decisions on government support for private banks, which issued earlier but did not implement what was intended by these decisions.
Al-Nusairi said in an interview with "Economy News" that the structure of the Iraqi banking sector consists of 7 government banks, which account for 86% of the total deposits of the government and the public and 78% of the total assets and private banks constitute 70 commercial and Islamic banks and invest 78% of the capital of the banking sector "He pointed out that the objectives set for the banking sector in the fourth axis (strengthening the economy) in the government curriculum focused on achieving lending for development, considering banks as a lever for development and building bridges of trust with the public and achieve financial coverage in the sense of expansion and spread Presented by Ntjat and banking services and the practice of real banking and digital transformation of the banking sector in accordance with the time limits specified in the government program.
Al-Nusairi stressed the importance of stimulating and revitalizing the economy with banking finance and banking facilities in the face of its implementation at present. Despite the great efforts exerted by the Central Bank since 2016 to implement the objectives of its strategy for the years (2016-2020) The most important of which are the structural, structural and technical developments in banks, increasing the proportion of financial coverage and investment in human capital, and moving towards stability in the monetary system and stability in the exchange rate. A year and a half.
He pointed out that the banks also need government support for the purpose of achieving what is stated in the governmental curricula, taking into consideration the following: The nature of the activities of the banks depends on the nature of the activities of the economic sectors. As long as the economic activity is concentrated in trade (imports), the activity of banks remains concentrated on foreign transfer and related Therefore, unless the other sectors (industry, agriculture, tourism) and others move to predict the diversity of banking activity, the legal environment and the extension of the rule of law should be provided to eliminate the phenomenon of default in the repayment of loans. Form a large proportion of total credit granted and thus reluctance of banks to provide loans and banking facilities.
Without the control of imports, these sectors will not rise, which explains the lack of progress on serious loans through the initiative of the Central Bank.
He added that the non-activation of the decisions of the Council of Ministers and the Committee on Economic Affairs in the Council of Ministers, which had previously been issued to support the banking sector, especially private banks, have impeded the activities and activities of private banks and significantly affected the liquidity and revenues and deposits for that and for the purpose of implementation of the government program to ensure the transition The banks from the role of banking to the developmental role and activating banking requires the government, in particular the Council of Ministers and the Economic Affairs Committee to activate the decisions previously issued by the Council of Ministers and the Committee on Economic Affairs, as documented by the following figures and dates:
 First: Activating all the decisions of the Economic Affairs Committee to support private banks, in particular:
1- Failure to accept the Ministry of Finance to open bank accounts for ministries and government departments in private banks and to hold them in government banks according to its book 207 dated 31/1/2019.
2 - Activate the decision to allow ministries and government departments to open documentary credits in private banks up to 50 million dollars without going through the Iraqi Bank for Trade.
3 - Activation of the Council of Ministers Resolution No. 110 of 2009 and the decision of the Committee on Economic Affairs 141 on 20/02/2012 regarding the transfer of government documentary bank credit up to 30 million dollars to private banks through the Iraqi Bank for Trade.
4- Activating the decision of the Committee of Economic Affairs No. 253 of 2015.
Regarding the acceptance of instruments ratified by private banks to pay insurance and customs fees and taxes.
Second: Activating the Cabinet Resolution No. 378 of 2018 concerning the collection of government fees in the government departments through electronic payment.
Third: Activating the financial services court formed in accordance with the Central Bank Law No. 56 of 2004, and the court may refer cases that require referral to the competent courts in accordance with the applicable penal law.
4 - to consider the debts of troubled banks customers in the private banks urgent claims and excellent debt like government debt.
Fifth, in addition to the efforts of the Central Bank requires the government also to work to provide conditions and take measures to help private banks to obtain the credit rating adopted internationally and thus strengthen international banking relations with correspondent banks.
VI - The Ministry of Finance to compensate for the damage to the monetary assets and fixed lost by the branches of private banks, which amounted to (37) branches in the provinces occupied by the terrorist advocate and documented with the Central Bank of Iraq.
VII. Activating the decisions of the Council of Ministers No. 313 of 2016 and 218 of 2017 regarding the settlement of salaries of employees and the demand from government departments to settle their salaries as they wish and not to direct them to settle salaries in government banks exclusively.

 

Views Date Added Date 01/08/2019

[6ly410]

The Banking Studies Center of the Central Bank of Iraq (CBE) held a specialized workshop on "Basel Decisions and Banking Risk Management" which lasted for three days from 29 to 31 July 2019.
The workshop was attended by representatives of 47 public and private banks and employees of the Central Bank from the branches of Baghdad, Mosul, Erbil and Basra.
 https://cbi.iq/news/view/1215
Central Bank of Iraq
information Office
1 August

[ChuckFinley]

Thanks, 6ly410 for bringing it

[6ly410]

no problem bro let’s go cbi 

[WheresmyRV?]

If so and so is right how much would .238 bring us?

[Arceo]

Another day another dinar 😂 mornin yall

[jg1]

5 hours ago, navira said:

Hey bro thug, didn't the CBI change the rate (1.somthing to a dinar)then reverted back to its rate at 1170 something .this was in 2012...Maliki went after shabibi..

 

 

I believe thats a No. I believe malaki was going after the reserves/money and shabibi said No. There then was a warrant for shabs arrest. Nothing about a rate change.