CBI Installs Mechanisms to Stop The Slide Of The IQD.

[Luigi1]

Here's an article of interests from Dinarland...

Procedures To Limit The Rise In The Exchange Rate Of The USD.

Treat as a rumor.  Not verified.  Your opine.

 

 

Tlm724 Administrator Bondlady’s Corner:     Starting Procedures To Limit The Rise In The Exchange Rate Of The USD Against The Dinar.

The Iraqi Trade Bank decided to expand the scope of the external financial transfer process for merchants.   The media expert of the bank, Aqil Al-Shuwaili, said in a statement: “Based on the directions of the Presidency of the Council of Ministers & the CBI to limit the rise in the exchange rate of the USD against the Dinar in the local markets & to support the import process in accordance with the legal frameworks & correct & sound contexts to ensure the safety of financial transfer operations, which are positively reflected.”   On individual merchants & shop owners, the Trade Bank of Iraq (TBI) decided to take the initiative to expand the scope of the external financial transfer process.  

 

He explained, “This will be done by allowing the aforementioned groups to import consumer goods at the exchange rate of the CBI 1320 Dinars per one USD, provided that the value of the external transfer for each individual trader per month does not exceed ($100,000 only one hundred thousand USD),” indicating, “It will be Work on this matter, starting with the bank’s branches in the capital, Baghdad & the work will be expanded in other branches outside Baghdad soon, according to the instructions of the Iraqi Trade Bank.  

 

Below are the requirements for opening an account for individual merchants and shop owners as follows:  

 

1- Identification documents: Civil status identity, Iraqi nationality certificate or unified national card, housing card, Iraqi passport, or submitting an undertaking to provide us with the passport as soon as it is issued.

2- Submitting what shows the deposited sources of income (sale receipts or contracts for periods not exceeding the previous six months) or any other documents that show that.  

3- Submit proof of work address (lease contract or real estate deed).  

4- Fill in the Know Your Customer (KYC) form.  

5- A valid Chamber of Commerce ID (if any).  

6- Provide evidence of the merchant’s activity.  

7- Submitting an undertaking that the individual trader will not own a company registered now or in the future.   

 

[JonnyV]

Another great an effective way to stop the Dinar from sliding IS TO RV IT!!!!
 

I wish I could say that in Sam Kinison’s voice.  

[Luigi1]

6 minutes ago, JonnyV said:

Another great an effective way to stop the Dinar from sliding IS TO RV IT!!!!
 

I wish I could say that in Sam Kinison’s voice.  

 

We all want to see this RV-RI.

There was a good article out yesterday why CBI can't RV-RI at the moment.

Iraq must grow it's economy & diversify away from oil dependence.

If not, there will be runaway inflation without an established economy.   IMHO.

[WheresmyRV?]

4 hours ago, Luigi1 said:

 

We all want to see this RV-RI.

There was a good article out yesterday why CBI can't RV-RI at the moment.

Iraq must grow it's economy & diversify away from oil dependence.

If not, there will be runaway inflation without an established economy.   IMHO.

If that's the case then we are a good 3 or more years away from this happening.

[md11fr8dawg]

7 hours ago, JonnyV said:

I wish I could say that in Sam Kinison’s voice.  

He DID have a way with words. i loved that guy!

[md11fr8dawg]

2 hours ago, WheresmyRV? said:

If that's the case then we are a good 3 or more years away from this happening.

You are probably correct. DAMN!!!

[coorslite21]

7 hours ago, Luigi1 said:

 

We all want to see this RV-RI.

There was a good article out yesterday why CBI can't RV-RI at the moment.

Iraq must grow it's economy & diversify away from oil dependence.

If not, there will be runaway inflation without an established economy.   IMHO.

Disagree....other economies based mostly on oil are doing very well....   CL

[JonnyV]

1 hour ago, coorslite21 said:

Disagree....other economies based mostly on oil are doing very well....   CL

 

Yes.  Thank you!    

[Hotcurl]

 

2 hours ago, coorslite21 said:

Disagree....other economies based mostly on oil are doing very well....   CL

 

Look at Saudi, they are doing quite well on an oil only based economy and have been for at least the past 50 years.

 

Just sayin' .....................

 

Semper Fi 

[Luigi1]

2 hours ago, coorslite21 said:

Disagree....other economies based mostly on oil are doing very well....   CL

 

Also there were some articles out this week of HCL headed to the courts & will not be enacted as is.

The key to growing Iraq's economy is putting money in the hands of the people via purchasing power through profit sharing from the oil profits.

[screwball]

4 hours ago, Hotcurl said:

 

 

Look at Saudi, they are doing quite well on an oil only based economy and have been for at least the past 50 years.

 

Just sayin' .....................

 

Semper Fi 

The Saudis and kuwait, but Saudis is the best example, there are plenty of examples…

[screwball]

4 hours ago, Luigi1 said:

Also there were some articles out this week of HCL headed to the courts & will not be enacted as is.

I have told people many times…the hydro carbon law was a deep state cabal law written by bearing point by the bushes….the Iraqis want to nationalise the oil, this is why most american oil companies pull out of contracts! Years ago…

[screwball]

15 hours ago, Luigi1 said:

We all want to see this RV-RI.

There was a good article out yesterday why CBI can't RV-RI at the moment.

Iraq must grow it's economy & diversify away from oil dependence.

If not, there will be runaway inflation without an established economy.   IMHO.

Are you serious runaway inflation….that’s why they delete zeros from exchange rate or adjust rate and introduce lower denoms while adjusting in country pricing and wages etc to suit 

[screwball]

7 hours ago, coorslite21 said:

There was a good article out yesterday why CBI can't RV-RI at the moment.

Iraq must grow it's economy & diversify away from

Yeo and for those that have invest Over the years know that the cbi would release such a statement! Just like China did! Germany did! No one in there right mind would admit to it! 

[rvmydinar]

11 hours ago, Hotcurl said:

Look at Saudi, they are doing quite well on an oil only based economy and have been for at least the past 50 years.

And look at the currency , 1 Riyal Saudi=0.27 USD and it is still even better than 1 IQD= 0.00076 USD and it is still higher than adam's prediction at 10 cents.

[screwball]

11 hours ago, rvmydinar said:

And look at the currency , 1 Riyal Saudi=0.27 USD and it is still even better than 1 IQD= 0.00076 USD and it is still higher than adam's prediction at 10 cents.

Yep and now they are building trillion dollar cities in their own country…

[rvmydinar]

11 hours ago, screwball said:

Yep and now they are building trillion dollar cities in their own country…

And so is Iraq after Iraq RV the IQD one day.

[BETTYBOOP]

44 minutes ago, rvmydinar said:

And so is Iraq after Iraq RV the IQD one day.

I think you will find Iraq already has pans for multi trillion dollar cities even with a toilet paper currency

[rvmydinar]

4 hours ago, BETTYBOOP said:

I think you will find Iraq already has pans for multi trillion dollar cities even with a toilet paper currency

Have you ever visited Iraq before?? Does Iraq look like a country of Dubai as one of the wealthiest of the seven emirates and is often regarded as the middle east's premier entrepot?

[BETTYBOOP]

20 minutes ago, rvmydinar said:

Have you ever visited Iraq before?? Does Iraq look like a country of Dubai as one of the wealthiest of the seven emirates and is often regarded as the middle east's premier entrepot?

I think you need to step back and read things properly. I didn't say they have this already. I SAID THEY ALREADY HAVE PLANS IN PLACE. Unfortunately YOU are so obsessed with the rate at times you do not read things properly

[screwball]

I know people are frustrated and want this now…I am one of these…negavity serves no problem! It’s all or nothing and nothing will make me give up in the this investment…many outside influences to this investment over the years and all out of out control! Who even knew that ISIS was created by CIA and funded by BUSH and OBAMA? Explains why MOSUL fell and nothing happened in 2013! 

[screwball]

This was always a 20 year investment and a retirement strategy not a get rich scheme! I am not pushing 20 years in this investment if it takes another 1-2 then so be it! 

[BETTYBOOP]

I would love for it to happen now, mainly due to my health getting worse but if I need to sit another 2 yrs, nowt to do but wait 

Edited August 2, 2023 by BETTYBOOP

[Shedagal]

I have noticed so many on here lately frustrated and talking about ill health.

 

I am attending a faith conference now and hearing teaching about life and death being in the power of the tongue.  Speak life!!!

 

Immerse yourself in the Word.  Find scriptures on health and repeat them daily.  The Bible says our youth is renewed.  The last teacher I heard was an 86 year old man who is very healthy and active.

 

As far as frustration, one teacher taught on perseverance, and when you have done all to stand, stand.

 

The Lord loves us all, and desires above all things that we prosper and be in health.

[screwball]

6 minutes ago, Shedagal said:

I have noticed so many on here lately frustrated and talking about ill health.

 

I am attending a faith conference now and hearing teaching about life and death being in the power of the tongue.  Speak life!!!

 

Immerse yourself in the Word.  Find scriptures on health and repeat them daily.  The Bible says our youth is renewed.  The last teacher I heard was an 86 year old man who is very healthy and active.

 

As far as frustration, one teacher taught on perseverance, and when you have done all to stand, stand.

 

The Lord loves us all, and desires above all things that we prosper and be in health.

As I write this I sit in recovery in Hospital having just had two days ago my Brian surgery…before I went in my wife said to me we need to have a discussion about the white light, she said if you see it don’t cross over please…I said it won’t happen…believe or don’t believe but it’s not first time that I have reached out to my gate Kepler and said I am not ready and not crossing over! I have seen the white light the tunnel, nope NOT ready! Have faith! Sitting here in Hospital with wonderful nurses caring for me but I see and hear so much sadness, we should be lucky! 

Edited August 2, 2023 by screwball