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Something I found on CBI.IQ

FatMan

By FatMan,
in Dinar Rumors

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FatMan Newbie

FatMan

Posted
Posted (edited)

This is dated March 2011... So maybe you've seen it. Maybe it is old news. Or maybe it might mean something?

I was poking around the CBI.IQ site and found this LOOOONG Ummm Book I guess... Haha But Searched "Revalue" from the search engine and I found this.

This is Page 37 read part iv

12. Financial intermediation is at a very low level in Iraq. A functioning banking sector is

essential for the development of a strong private sector. We have begun to embark on our

banking sector reform strategy:

 A critical step will be to complete the financial restructuring of the two largest stateowned

banks, Rafidain and Rasheed, based on their completed financial and

operational audits. In this regard, we formed a Bank Reconciliation Unit that

comprises technical level staff from the banks, the CBI and the Ministry of Finance,

and with the assistance of Ernst and Young (who were the agents of the Ministry of

Finance in the external debt restructuring process) to: (i) deal with all legacy external

liabilities taking into account the government’s actions in the context of Iraq’s external

debt restructuring (ii) indentify and propose to write-off non-performing loans to

defunct state-owned enterprises; (iii) propose a course of action for other remaining

unreconciled accounts; and (iv) after the balance sheets have been cleaned up, revalue

the remaining foreign currency denominated balance sheet items. The BRU will work

under the supervision of the Restructuring Oversight Committee (ROC), consisting of

the Minister of Finance, the Governor of the CBI, and the Chairman of the BSA. The

BRU will send its recommendations for final approval to the respective boards of the

two banks. Through this process, we aim to complete the restructuring of the balance

sheets of Rafidain and Rasheed by end-June 2011 (a structural benchmark).

Please don't bash me. I'm just poking around and researching stuff.... Just thought I'd share this.

This is my First time posting a Link, So I hope it works. If not, Go to the CBI.IQ site and scroll down to the "News" Link. That's where I found it.

My link

Reasherching, Krem.

Edited by Krem
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FatMan Newbie

FatMan

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Posted

Though, After readit again, Maybe they just mean Revaluing their Paperwork to show updated stuff??

Awww hell, Idk. I will say this, Aside from Rumors and Facts, I have a weird feeling in my gut. (And I'm NOT Hungry). Maybe just the excitment of news clips on here talking about Iraqi Meetings and signs that look like we are really close.

Can't sleep tonight, Krem

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TQueezy Newbie

TQueezy

Posted
Posted

(iv) after the balance sheets have been cleaned up, revalue

the remaining foreign currency denominated balance sheet items.

This says to me that they are going to look at the values of the existing foreign currency dominated balance sheet items. What items on the banks' balance sheets are dominated by foreign currency that wouldn't be covered by the old value of Iraqi dinar? The only thing I can think of would be loans or securities relating to the sales of crude oil and other resources that are based in foreign currencies (US dollars, GBP, or whatever other currencies). So, if these two banks' balance sheets have items relating to items that are tied to foreign currencies, they can't be cleared up before an RV because of the change in the value of IQD, is how I see it. That means that they can clear everything up and then after the RV, they can assess the situation. Am I wrong? Probably, but that's one way I saw to look at this statement.

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Bobbysac Newbie

Bobbysac

Posted
Posted (edited)

Better off to sell your dinar and buy lottery tickets.

i dont get it ,are you here to just bash and be neg ,whats your problem dude,all your posts are neg

interesting post KREM,thx for the info ,keep it up

Edited by Bobbysac
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mariejose Newbie

mariejose

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Posted

Then why are you here?

metallic is the kind of person who gets his kicks from. Pressing everyone's buttons. I think the best way to deal with him is to completely ignore him. By doing this we do not give his comments any value.

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firefighter_218546 Newbie

firefighter_218546

Posted
Posted

Better off to sell your dinar and buy lottery tickets.

So if you are invested in this my question is, why are you invested if you feel this way? If you are not invested in this, than why are you here? Unless you are a looser with nothing else to do but hang out at a website you don't have any vested interest in,,,ummmm maybe that is the case,,,

Go Rv

God Bless America

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PapaJohn Newbie

PapaJohn

Posted
Posted (edited)

Better off to sell your dinar and buy lottery tickets.

Let me take those silly Dinar off your hands so you can move on to your well thought out new investment in the lottery. Oh based on the odds of winning the lottery you have over 150 million better odds inverting in the dinar. Good luck GO RV...RV...RV

Edited by PapaJohn
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Heavyduty053 Newbie

Heavyduty053

Posted
Posted

Better off to sell your dinar and buy lottery tickets.

metriff by the character of your attitude, you are a newbie on here and my prediction is you want last long unless you change.........Happy trails to yea. i see the report button coming to a reply near you.

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FatMan Newbie

FatMan

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Haha... Man. I was trying to go through the comments and give all (But One) A thumbs up.... I woke up a bit ago and First thought, GO RV! So Opened my laptop to find, No Change. But then I looked at my post and Saw all the +1's and :D I started reading through comments and saw, About 5 comments down, A Guy bash me <_< .... Then Low and behold, People sticking up for my post! :D:D I can't tell you how that wade me feel...

Thank you all for reading! I WILL Keep reading and looking for Signs Good OR Bad. How could I NOT? I've kind of become Obsessed with this! Good for us, Bad for my Dogs... They've been looking at me Funny... Like "Why has he been just sitting there staring at that Stupid Little Flat contraption??!!" I'll probably wake tomorrow to find it Chewed or pee'd on... But until Then, I'll be Searching!

GO RV And the good people of The Dinar Vet Family!

Uplifted, Krem

Oh, Side note to The Negative, I know you may think Attention/feedback is fun even if it's in a Negative way, But If you just look for something to Share or just post something Positive, It Feels SO Much better to see Positive Feedback for something You posted. Kind of like that movie "Monster's .Inc" where Screams and fear powered their Grid, But they came to find, Laughing and Positive things Gave WAY More Energy... (<--- Sorry, It just popped in my head)

Stay Positive, Positive energy will help our Situation!

Krem

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Matt P. Newbie

Matt P.

Posted
Posted

This is dated March 2011... So maybe you've seen it. Maybe it is old news. Or maybe it might mean something?

I was poking around the CBI.IQ site and found this LOOOONG Ummm Book I guess... Haha But Searched "Revalue" from the search engine and I found this.

This is Page 37 read part iv

12. Financial intermediation is at a very low level in Iraq. A functioning banking sector is

essential for the development of a strong private sector. We have begun to embark on our

banking sector reform strategy:

 A critical step will be to complete the financial restructuring of the two largest stateowned

banks, Rafidain and Rasheed, based on their completed financial and

operational audits. In this regard, we formed a Bank Reconciliation Unit that

comprises technical level staff from the banks, the CBI and the Ministry of Finance,

and with the assistance of Ernst and Young (who were the agents of the Ministry of

Finance in the external debt restructuring process) to: (i) deal with all legacy external

liabilities taking into account the government’s actions in the context of Iraq’s external

debt restructuring (ii) indentify and propose to write-off non-performing loans to

defunct state-owned enterprises; (iii) propose a course of action for other remaining

unreconciled accounts; and (iv) after the balance sheets have been cleaned up, revalue

the remaining foreign currency denominated balance sheet items. The BRU will work

under the supervision of the Restructuring Oversight Committee (ROC), consisting of

the Minister of Finance, the Governor of the CBI, and the Chairman of the BSA. The

BRU will send its recommendations for final approval to the respective boards of the

two banks. Through this process, we aim to complete the restructuring of the balance

sheets of Rafidain and Rasheed by end-June 2011 (a structural benchmark).

Please don't bash me. I'm just poking around and researching stuff.... Just thought I'd share this.

This is my First time posting a Link, So I hope it works. If not, Go to the CBI.IQ site and scroll down to the "News" Link. That's where I found it.

My link

Reasherching, Krem.

Thanks for posting. This is great and important for them for sure but I don't think it has anything to do with the RV we are looking for. "revalue foreign currency balance sheet" doesn't sound like "revalue internal currency". Not saying the word internal would be the one they would and should use but it probably demonstrates that they are referring to the foreign currency they have on reserve and the goal of auditing and balancing the amounts on deposit. Thoughts? Go RV!

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FatMan Newbie

FatMan

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I agree... The more I've read it, I don't think they were talking about the BIG RV.... Plus, They're just a bank. They don't decide an RV. But Did think for a second, Maybe they have more insight than others on If/When one might occur? Probably not... idk. Still surfing, Looking for more signs.

Krem

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