1.3 the rate given in this article.

[docholliday55]

http://international.daralhayat.com/internationalarticle/272519

Iraq seeks to regulate the financial sector in order to avoid the financing of terrorism and money laundering

الثلاثاء, 31 مايو 2011 Tuesday, May 31, 2011

بغداد - نصير الحسون BAGHDAD - Naseer goldfinch Related Nodes: Related Nodes: اختيار «الستوم» الفرنسية لإنشاء شبكة مترو في بغداد Select «Alstom» French to create a metro network in Baghdad

لا يزال القطاع المالي العراقي يعاني انفلاتاً نتيجة انعدام الرقابة وغياب قوانين تنظمه، خصوصاً التحويلات المالية إلى الخارج التي بلغت 30 بليون دولار عام 2010، بحسب المصرف المركزي العراقي. Financial sector is still suffering Iraqi Anflata as a result of lack of oversight and the absence of laws organized, especially remittances abroad, which amounted to $ 30 billion in 2010, according to Central Bank of Iraq. فبعد عام 2003، وجدت نسبة كبيرة من السيولة النقدية في العراق طريقها إلى خارج البلاد، خصوصاً دول الجوار، ولم تنجح أي جهة حكومية أو خاصة في تحديد حجم هذه الأموال. After 2003, and found a large proportion of cash in Iraq on its way out of the country, especially neighboring countries, did not work any governmental or private to determine the size of these funds. وبعد سيطرة الحكومة على المنافذ الرئيسة، وبسبب صعوبة نقل الأموال لتردي الأوضاع الأمنية على الطرق الخارجية، انتعش ما يُعرف بمكاتب التحويل الخارجي التي بدأت أعمالها في شكل طبيعي ومن دون أي موافقات أو قوانين أو رقابة. After the government's control over key ports, and because of the difficulty of transporting money to the deteriorating security situation on the roads, picked up what is known as foreign exchange offices, which began its work in the form of natural and without any approvals, laws or censorship.

يقول صاحب مكتب «الشمس للتحويل» ضياء محمد لـ «الحياة»، إن الجهات الرقابية على عمل مكاتب التحويل في معظم مدن العراق هي أمنية وليست مالية، كالمصرف المركزي أو وزارة المال أو الحكومات المحلية، بل هناك تقارير بالتحويلات يطلع عليها جهاز الاستخبارات في كل محافظة لمعرفة حجم الأرصدة التي تحول لبعض الأسماء للتأكد من عدم ارتباطهم بتمويل الإرهاب. Says the owner of «the sun for conversion» Diaa Mohamed told «life», the regulators on the work of office conversion in most cities in Iraq is security, not financial, Kalmsrv Central or the Finance Ministry or local governments, but there are reports of transfers the information of the intelligence service in each province To see the size of the balances that prevent some of the names to make sure that their association with the financing of terrorism. وأضاف: «نحن كمكاتب صغيرة، لا نحوّل مبالغ تزيد على 50 ألف دولار»، موضحاً أن عمل المكاتب في العراق نظّم عبر شركات التحويل المالي. He added: «We are a small office space, do not turn the money over 50 thousand dollars», pointing out that the work of the offices in Iraq through the systems of money transfer companies.

وأكد الخبير الأول في المصرف المركزي العراقي مظهر محمد صالح لـ «الحياة» أن المصرف، أو أي جهة عراقية أخرى، لا تستطيع منع التحويلات الخارجية أو تقنين نظامها، إذ أن العراق ملتزم بقوانين صندوق النقد الدولي التي تنص على تحرير الحساب الجاري في نظام المدفوعات للشركات والأفراد. The first expert in the Iraqi Central Bank the appearance of Mohammed Saleh told «life» that the bank, or any other Iraqi, can not prevent foreign transfers or rationing system, as Iraq is committed to the laws of the International Monetary Fund, which provides free current account in the system of payments to companies and individuals. وأفاد بأن «لكل مواطن الحق في تحويل الأموال، شرط عدم تقاطعها مع تمويل الإرهاب وغسيل الأموال، ولذلك أضفنا شرطاً للتحويل متمثّلاً بطلب وثائق تبيّن أسباب التحويل للمبالغ التي تزيد على 50 ألف دولار». He stated that «every citizen the right to transfer funds, on condition that the intersection with the financing of terrorism and money laundering, so we added a condition for conversion represented by the request and the documents showing the reasons for the conversion of the amounts in excess of 50 thousand dollars».

مبيعات المصرف المركزي Central Bank Sales

وأكد أن المصرف يبيع وفي شكل يومي ما بين 150 مليون دولار و180 مليوناً، ويحوّل القطاع الخاص كل سنة نحو 35 بليون دولار، ما يمثل ثلثي عائدات النفط العراقي. He stressed that the bank sells in the form of daily between 150 million and $ 180 million, and prevents the private sector each year, about $ 35 billion, representing two thirds of the proceeds of Iraqi oil. وأفاد بأن من غير المعقول أن تكون كل التحويلات تهدف إلى تغطية تجارة خارجية، ما فرض على المصرف المركزي إضافة بند رقابي آخر يحتم مراجعة الهيئة العامة للضرائب عن المبالغ التي تزيد على 50 إلف دولار بهدف تنظيم عملية التحويل وملاحقة المتهربين من الضرائب. He reported that it is not plausible that all of the conversions are intended to cover foreign trade, the imposition of the Central Bank to add an item requires another regulatory review of the General Authority for taxes on amounts in excess of 50 thousand dollars for the organization of the conversion process and the pursuit of tax evaders. وكشف عن وجود أشخاص يحوّلون 100 مليون دولار، في حين أن إقرارهم الضريبي يشير عكس ذلك. He disclosed the presence of people turning $ 100 million, while they recognized that tax indicates otherwise.

وفي شأن نشاط مكاتب التحويل أكد مظهر أنها «تعتمد في عملها على المصرف المركزي لأنه مصدر العملات الأجنبية»، لافتاً إلى أن اقتصاد العراق ريعي ويعتمد على عائدات النفط التي تحول إلى «صندوق تنمية العراق» ثم إلى المصرف المركزي ليبيع هذه العملات ويغطي حاجة الموازنة. In regard to the activity office conversion confirmed the appearance of it «adopt in its work on the Central Bank as a source of foreign currency», pointing out that Iraq's economy, Rei, and dependent on oil revenues transferred to the «Development Fund for Iraq» and then to the Central Bank to sell those currencies covering the needs of the budget. وتابع أن سياسات المصرف ساهمت في استقرار السوق العراقية حتى بات الدينار العراقي من أفضل عملات المنطقة لأنه يساوي 1.3 دولار، ولهذا فإن إمكان التوسع في السوق مضمون خلال هذه المرحلة. He said the bank's policies have contributed to the stability of the Iraqi market, even the Iraqi dinar has become one of the best currencies in the region because it is equal to 1.3 U.S. dollars, therefore the possibility of expansion content in the market during this phase.

the last paragraph.... I just dont believe this. and if someone posted already sorry.

[Tropics]

yes this is about the 4th time today it has been posted

[Luigi1]

Do the math...After they LOP off 3 zeros, your million ID become 1,000 ID, then multiplied by 1.3. You just made $1.300 off of your $1.100 original investment or $200 per million ID.

Read more: http://dinarvets.com/forums/index.php?/topic/68741-iraqi-dinar-has-become-one-of-the-best-currencies-in-the-region-because-it-is-equal-to-13-us-dollars/page__st__20#ixzz1Nyd4yICN

[hozer]

Do the math...After they LOP off 3 zeros, your million ID become 1,000 ID, then multiplied by 1.3. You just made $1.300 off of your $1.100 original investment or $200 per million ID.

Read more: http://dinarvets.com/forums/index.php?/topic/68741-iraqi-dinar-has-become-one-of-the-best-currencies-in-the-region-because-it-is-equal-to-13-us-dollars/page__st__20#ixzz1Nyd4yICN

Acocrding to this article your wrong......................

The Lop really does not change anything, say you have 25,000 Dinar, they will print new notes of 25 dinars and ask all of us to change the old notes with the new ones (less zeros) it is just a waist of time and hassle for us since it changes nothing, the 25,000 dinar was worth lets say $20, now the 25 Dinar is worth the same $20 just less 3 zeros on the bill thats all, we will have to exchange the old with the new. Why they would do that ? it is easier to count, can you imagin for example and Iraqi gos to buy groceries for example and pay 150,000 Dinars.... for few items that is why they may want to lop, so Lop will give us NOTHING at the end of the day we will have same value with amount of Dinars in our hand.

the Revaluation of the Dinar will be in the actual value of the Dinar decided by the Iraq Central Bank. and not just the exchange of old notes with new notes, there will be no exchange at all, your Dinars will appriciate instantly against the Dollar. So we are waiting for them to make up their mind...

What we want is Revaluation (Reval) of the Dinar.

Link

http://www.mrdinar.com/index.php?topic=92.0

[rick25sandi]

Do the math...After they LOP off 3 zeros, your million ID become 1,000 ID, then multiplied by 1.3. You just made $1.300 off of your $1.100 original investment or $200 per million ID.

Read more: http://dinarvets.com/forums/index.php?/topic/68741-iraqi-dinar-has-become-one-of-the-best-currencies-in-the-region-because-it-is-equal-to-13-us-dollars/page__st__20#ixzz1Nyd4yICN

where does it say it will LOP

[skepticaldinar]

Acocrding to this article your wrong......................

The Lop really does not change anything, say you have 25,000 Dinar, they will print new notes of 25 dinars and ask all of us to change the old notes with the new ones (less zeros) it is just a waist of time and hassle for us since it changes nothing, the 25,000 dinar was worth lets say $20, now the 25 Dinar is worth the same $20 just less 3 zeros on the bill thats all, we will have to exchange the old with the new. Why they would do that ? it is easier to count, can you imagin for example and Iraqi gos to buy groceries for example and pay 150,000 Dinars.... for few items that is why they may want to lop, so Lop will give us NOTHING at the end of the day we will have same value with amount of Dinars in our hand.

the Revaluation of the Dinar will be in the actual value of the Dinar decided by the Iraq Central Bank. and not just the exchange of old notes with new notes, there will be no exchange at all, your Dinars will appriciate instantly against the Dollar. So we are waiting for them to make up their mind...

What we want is Revaluation (Reval) of the Dinar.

Link

http://www.mrdinar.com/index.php?topic=92.0

Here is the problem if we have to exchange... Just where exactly will we exchange? Most banks have stopped dealing in the IQD and I would imagine that all would stop if it does happen to avoid the headache and possible inability to receive any new lower denoms for exchange.Any IQD dealers will jump ship to avoid that as well.

[umbertino]

Do the math...After they LOP off 3 zeros, your million ID become 1,000 ID, then multiplied by 1.3. You just made $1.300 off of your $1.100 original investment or $200 per million ID.

Read more: http://dinarvets.com/forums/index.php?/topic/68741-iraqi-dinar-has-become-one-of-the-best-currencies-in-the-region-because-it-is-equal-to-13-us-dollars/page__st__20#ixzz1Nyd4yICN

It does look like the dreaded LOP to me.... Not nice....Hopefully it won't be that way.

[keepmwlknfny]

Acocrding to this article your wrong......................

The Lop really does not change anything, say you have 25,000 Dinar, they will print new notes of 25 dinars and ask all of us to change the old notes with the new ones (less zeros) it is just a waist of time and hassle for us since it changes nothing, the 25,000 dinar was worth lets say $20, now the 25 Dinar is worth the same $20 just less 3 zeros on the bill thats all, we will have to exchange the old with the new. Why they would do that ? it is easier to count, can you imagin for example and Iraqi gos to buy groceries for example and pay 150,000 Dinars.... for few items that is why they may want to lop, so Lop will give us NOTHING at the end of the day we will have same value with amount of Dinars in our hand.

the Revaluation of the Dinar will be in the actual value of the Dinar decided by the Iraq Central Bank. and not just the exchange of old notes with new notes, there will be no exchange at all, your Dinars will appriciate instantly against the Dollar. So we are waiting for them to make up their mind...

What we want is Revaluation (Reval) of the Dinar.

Link

http://www.mrdinar.c....php?topic=92.0

This isent about us......this is about the people of Iraq.....they dont care what you might have to do to keep dinar in your hand......or how ANYTHING will affect us.....

[redsand]

Here is the problem if we have to exchange... Just where exactly will we exchange? Most banks have stopped dealing in the IQD and I would imagine that all would stop if it does happen to avoid the headache and possible inability to receive any new lower denoms for exchange.Any IQD dealers will jump ship to avoid that as well.

I know plenty of banks that still sell. Join VIP to figure out more places, or just google it and I guarentee you will find what you need

[Psych]

If this RVs, I'll fly to Iraq and back to cash in!

[elmstreet61]

Here is the problem if we have to exchange... Just where exactly will we exchange? Most banks have stopped dealing in the IQD and I would imagine that all would stop if it does happen to avoid the headache and possible inability to receive any new lower denoms for exchange.Any IQD dealers will jump ship to avoid that as well.

Nope...the banks are not yet dealing in IQD...just yet...once it RVs and shows up on all the FOREX systems, they'll start dealing allright...it is then a tradeable currency...like all the others...sit tight...it'll be alright

[Silverdinar]

If this RVs, I'll fly to Iraq and back to cash in my dinars. I'll sell enough to buy a ticket and you best believe I'll get more than $200 pr million. After paying 4 or 5 times that pr million I am gonna find out where I can get at least $3.00 pr dinar..... Go RV REVAL

[pokerplayer]

If this RVs, I'll fly to Iraq and back to cash in my dinars. I'll sell enough to buy a ticket and you best believe I'll get more than $200 pr million. After paying 4 or 5 times that pr million I am gonna find out where I can get at least $3.00 pr dinar..... Go RV REVAL

Good luck on the $3.00 per dinar part, but I guess you never know. Flying to Iraq, I am right there with you, having been there I have at least a small idea on which part to head to. Would rather not go that route, but will if pushed and will take all family and friends dinar for cash-in as well.

pp

[Thor363]

Good luck on the $3.00 per dinar part, but I guess you never know. Flying to Iraq, I am right there with you, having been there I have at least a small idea on which part to head to. Would rather not go that route, but will if pushed and will take all family and friends dinar for cash-in as well.

pp

Were you with PPCLI? ...or something else?

I wish I could go there once it's a normal place... if it's ever a normal place. Would love to see some of the ancient cities! (in safety)

[jai5]

hello...

IF its true, then its good news for all of us....

i hope adam and mods can check it up and confirm it to us....its very important to us

[make11]

Do the math...After they LOP off 3 zeros, your million ID become 1,000 ID, then multiplied by 1.3. You just made $1.300 off of your $1.100 original investment or $200 per million ID.

Please read the article before commenting... "Iraqi dinar has become one of the best currencies in the region", this would not be the case with LOP. So BS from you.

[randalln]

this article says nothing about a lop it is all about them staying in line with the IMF rules and regulation for cashing in currency from abroad and making sure that the tax is pad to the relevant country and not supporting terrorism

Iraq seeks to regulate the financial sector in order to avoid the financing of terrorism and money laundering

Tuesday, May 31, 2011

BAGHDAD - Naseer goldfinch

Financial sector is still suffering Iraqi Anflata as a result of lack of oversight and the absence of laws organized, especially remittances abroad, which amounted to $ 30 billion in 2010, according to Central Bank of Iraq. After 2003, and found a large proportion of cash in Iraq on its way out of the country, especially neighboring countries, did not work any governmental or private to determine the size of these funds. After the government's control over key ports, and because of the difficulty of transporting money to the deteriorating security situation on the roads, picked up what is known as foreign exchange offices, which began its work in the form of natural and without any approvals, laws or censorship.

Says the owner of «the sun for conversion» Diaa Mohamed told «life», the regulators on the work of office conversion in most cities in Iraq is security, not financial, Kalmsrv Central or the Finance Ministry or local governments, but there are reports of transfers the information of the intelligence service in each province To see the size of the balances that prevent some of the names to make sure that their association with the financing of terrorism. He added: «We are a small office space, do not turn the money over 50 thousand dollars», pointing out that the work of the offices in Iraq through the systems of money transfer companies.

The first expert in the Iraqi Central Bank the appearance of Mohammed Saleh told «life» that the bank, or any other Iraqi, can not prevent foreign transfers or rationing system, as Iraq is committed to the laws of the International Monetary Fund, which provides free current account in the system of payments to companies and individuals. He stated that «every citizen the right to transfer funds, on condition that the intersection with the financing of terrorism and money laundering, so we added a condition for conversion represented by the request and the documents showing the reasons for the conversion of the amounts in excess of 50 thousand dollars».

Central Bank Sales

He stressed that the bank sells in the form of daily between 150 million and $ 180 million, and prevents the private sector each year, about $ 35 billion, representing two thirds of the proceeds of Iraqi oil. He reported that it is not plausible that all of the conversions are intended to cover foreign trade, the imposition of the Central Bank to add an item requires another regulatory review of the General Authority for taxes on amounts in excess of 50 thousand dollars for the organization of the conversion process and the pursuit of tax evaders. He disclosed the presence of people turning $ 100 million, while they recognized that tax indicates otherwise.

In regard to the activity office conversion confirmed the appearance of it «adopt in its work on the Central Bank as a source of foreign currency», pointing out that Iraq's economy, Rei, and dependent on oil revenues transferred to the «Development Fund for Iraq» and then to the Central Bank to sell those currencies covering the needs of the budget. He said the bank's policies have contributed to the stability of the Iraqi market, even the Iraqi dinar has become one of the best currencies in the region because it is equal to 1.3 U.S. dollars, therefore the possibility of expansion content in the market during this phase.

[dinarck]

Good luck on the $3.00 per dinar part, but I guess you never know. Flying to Iraq, I am right there with you, having been there I have at least a small idea on which part to head to. Would rather not go that route, but will if pushed and will take all family and friends dinar for cash-in as well.

pp

If you wouldn't mind explaining the laws regarding flying with large amounts of IQD. Especially after a RV. Can we take that much on a plane? If anybody has the answer to this question please help.

[bagdaddy]

don't

[imgesing]

This isent about us......this is about the people of Iraq.....they dont care what you might have to do to keep dinar in your hand......or how ANYTHING will affect us.....

Well truth be known we sent out 25 of our US TREASURERS to help get things in order financially in IRAQ, Right? Also the USA own their current currency. That aside from numerous other reasons means that they actually do care. In fact their future is determined by how this is handled and our interest is something they need to secure as well as other global financial markets invested in IRAQ and wanting to build Iraq.

Go to the experts in FOREX TRADE and or global monitary trades.

Peace

[skepticaldinar]

I know plenty of banks that still sell. Join VIP to figure out more places, or just google it and I guarentee you will find what you need

I have the info that I need friend.That wasn't the point.The majority of banks that are still selling are 5/3(a lot of those branches have been confirmed to have stopped selling as well). The point was,do you think that if we are forced to exchange hi denoms for low(they would only coexist for so long),that these banks that are selling will be in the Dinar market any longer?

Nope...the banks are not yet dealing in IQD...just yet...once it RVs and shows up on all the FOREX systems, they'll start dealing allright...it is then a tradeable currency...like all the others...sit tight...it'll be alright

Actually, I was referring to the banks that are still currently dealing in the IQD.

Edited June 1, 2011 by skepticaldinar

[20MillionDinar]

If you wouldn't mind explaining the laws regarding flying with large amounts of IQD. Especially after a RV. Can we take that much on a plane? If anybody has the answer to this question please help.

I know anything over $10k (USD) needs to be declared when leaving / entering the U.S. Not sure about the other countries' rules...

[dinarck]

I know anything over $10k (USD) needs to be declared when leaving / entering the U.S. Not sure about the other countries' rules...

Yeah I think they would declare it alright. Declare it suspicious and confiscate it. Haha I think my Dinar will stay on the ground.

[MovieMaker]

thanks for sharing

[cardinal sin]

Sorry to say, but it appears to me that "Naseer Goldfinch" is a fake...the first post I can trace the article back to is a blog site known for pumping. No one has been able to provide a valid news link, it's just being re-posted from one dinar site to another.... and there's not a single other article I've found written by "naseer goldfinch". Even the name is absurd.

I stand to be corrected - and hope I am corrected because I would love it to be true. It just doesn't add up.