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CBI sent letter to all exchanges companies

Anita

By Anita,
in Dinar Rumors

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Anita Newbie

Anita

Posted
Posted

My link

My link

Translation:

this is a letter from the central bank of Iraq letter # 9/2/4873.TOB

addressed to all money exchange institutes, advising them that the

period granted to them to increase their capitals is ending on December

31st 2010 based on rolling number 9/2/1806.

and as a result of not complying with the previous order, they are ordered

to do the followings:

1) following up the steps of increasing the capitals with the registration department

and presenting the amendment letter certified from the above bank.

2) to follow up and extend the letter of guarantee issued by the government banks

and the ones issued by the private banks ,also as fast as possible and to continue doing so

without any prior request from those banks to the issuers of those letters of guarantees.

considering this order as the last warning and the central bank will take the necessary

measures and legal action against the none complying companies.

respect.

general manager/

salman eedan abdullah.

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Anita Newbie

Anita

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Posted (edited)

please forgive my ignorance, but what does this mean? i.e. I need a translation of the translation

My link

I found this on another rumor site, just like that-no more, no less.

I tried to click on the CBI site, but it only available on arabic language.

Edited by Anita
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dflake Newbie

dflake

Posted
Posted (edited)

Ok, I'm going to go out on a limb and take a shot at this. Please, I am not a financial guru, just saying what this says to me.

1.) If you follow the link back to the CBI page this is what you will find:

Circulated to all the exchange companies in Iraq

2010/12/13 This has nothing to do with us, as US speculators.

2.) addressed to all money exchange institutes, advising them that the

period granted to them to increase their capitals is ending on December

31st 2010

This tells me that banks and exchange counters have until 12/31/2010 to take delivery of the amount of IQD they need. ( In country. )

3.) The remainder of this letter says to me: Whatever agreement other bank and / or exchange counters had with CBI must be honored by 12/31/2010 or they will face legal actions taken against them. In other words if Joes Bank had an agreement to purchase 2b dinar and have not done so, or have received said dinar and not paid in full for them, they have until 12/31/2010 to get it done.

I believe the other #'s, letter # 9/2/4873 / rolling number 9/2/1806, are some kind of internal reference numbers. ( Forms / Rules )

Please add, correct and explain as much as you like, this is what I get out of this letter. Wish I could see the previous one they are referring to.

Edited by dflake
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egadman Newbie

egadman

Posted
Posted

Ok, I'm going to go out on a limb and take a shot at this. Please, I am not a financial guru, just saying what this says to me.

1.) If you follow the link back to the CBI page this is what you will find:

Circulated to all the exchange companies in Iraq

2010/12/13 This has nothing to do with us, as US speculators.

2.) addressed to all money exchange institutes, advising them that the

period granted to them to increase their capitals is ending on December

31st 2010

This tells me that banks and exchange counters have until 12/31/2010 to take delivery of the amount of IQD they need. ( In country. )

3.) The remainder of this letter says to me: Whatever agreement other bank and / or exchange counters had with CBI must be honored by 12/31/2010 or they will face legal actions taken against them. In other words if Joes Bank had an agreement to purchase 2b dinar and have not done so, or have received said dinar and not paid in full for them, they have until 12/31/2010 to get it done.

I believe the other #'s, letter # 9/2/4873 / rolling number 9/2/1806, are some kind of internal reference numbers. ( Forms / Rules )

Please add, correct and explain as much as you like, this is what I get out of this letter. Wish I could see the previous one they are referring to.

works for me, thanks for going out there.

thought i read here quite awhile back that Ali was setting up or planning on setting up a bank in iraq. maybe it was a rumor

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