Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

Warka Bank account and LOP?


Recommended Posts

Hi,

Can someone please advise me on the following:-

1. I currently have 1.5 million dinar in a Warka account when and if a LOP happens they have indicated dropping the 000's of the larger notes does that affect my deposit?

2. Does the LOP only affect those holding CASH?

3. I am well confused I know you can't help with this but geeeeeeeeeeeeeeeeeeeeeeeez CONFUSED!!!!!!!

Thanks

Ben.

Link to post
Share on other sites

As " W " would say READ My LIPS >>>there will be no L O P ..... get it thru to your brain.. They can't afford a LOP for the BIg Gorillas will pound them.. US, Japan, France, GB, & lets not forget China. You think all this forgiveness of Billions of dollars in debt, they would allow Iraq to steal away their profits. Think about the oil contracts, they aren't gonna let that happen.

Link to post
Share on other sites

Iraqi Finance denies intention to delete the zeros of the national currency

09/02/2010 09:02 09/02/2010 09:02

. Arbil, February 9 (AKnews) - U.S. Undersecretary of the Ministry of Finance and the Iraqi economy, the ministry's intention to delete the zeroes from the national currency of Iraq, adding that the Iraqi economy, do not complain about inflation, there is no need for the implementation of this strategy.

The Prophet told Fadel Kurdistan News (AKnews) that "the process of deleting the zeroes of the Iraqi currency has no economic gain, and any positive impact on the purchasing power of the process of Iraq, but will also create other problems, to issue coins of small denominations such as" 10 money "and "50" penny quarter of a dinar and a half dinars. "

. He explained that "did not issue a formal decision on this matter, was not talking officially start work this fiscal policy to raise zeros from the Iraqi currency."

He noted that "the only win for the deletion of zeros from the currency is issued in small groups only, either in terms of their purchasing power will remain the same as dollar against foreign currencies and the euro, and there will be any increase or improvement."

". For his part, said the economist is capable Rizgar that "if the replacement of the Iraqi currency, Nabgy we work to maintain the stability of buying and selling rates of the Iraqi currency against foreign currency, for a limited period, so the process does not cause loss of citizens who deal in buying and selling foreign currency, often What is this period of six months. "

". He said "the deletion of zeros does not help to increase the value of local currency, because the high value of the currency is linked to the security situation of the country, as well as the ability of local production and commercial activity and reduction of inflation rates in the country."

It is worth mentioning that the Central Bank of Iraq said in a statement issued on February 6 this year, announced a plan to delete the zeros of the Iraqi currency before the end of the year 2010, and has completed 50% of the preparations for the work according to this strategy. It is hoped to be completed this fiscal policy later this year.

(آكانيوز)ت: و ز 9/2/2010 (AKnews) T: and g 9/2/2010

PM

Link to post
Share on other sites

Triathlete and Mdautomotive, you both have signed up for Warka online banking. My question is, do you have a English translation of terms and conditions that we are agreeing to at the bottom of the ap form (all in Arabic)? Also, it states "this commitment shall stand to be irrevocable for any reason whatever". Am I paranoid or is that a part of any standard online banking agreement? Appreciate your help - want to obtain online banking to be able to check account status.

Link to post
Share on other sites
Triathlete and Mdautomotive, you both have signed up for Warka online banking. My question is, do you have a English translation of terms and conditions that we are agreeing to at the bottom of the ap form (all in Arabic)? Also, it states "this commitment shall stand to be irrevocable for any reason whatever". Am I paranoid or is that a part of any standard online banking agreement? Appreciate your help - want to obtain online banking to be able to check account status.

I have had an account now for about 2 months and not had any problems with them.

I have transferred funds to the account and they have deposited within 5 working days so not that bad. However, they are pretty slow on coming back to you if you have questions etc.

If you apply online they normally get back to with account number within 10 working days I think they must spend most of the working day on the beach sunning themselves!

I did't read the terms as I think overall its a gamble and you have to take everything with dealing in Iraq on face value so in answer to your question NO.

Link to post
Share on other sites

Wait a minute now I'm confused. I thought the main reason to have a Warka account was to escape the L O P. Your deposit is in dinars is it not. It is not in how many 25,000 notes and how many 10,000 or 1,000 dinar notes you have. How can they knock of 3- zeros if your deposit is in dinars and not in denominations. Maybe I'm looking at this the wrong way. That's the reason I was going to open an account. Confused !!!!

Link to post
Share on other sites
As " W " would say READ My LIPS >>>there will be no L O P ..... get it thru to your brain.. They can't afford a LOP for the BIg Gorillas will pound them.. US, Japan, France, GB, & lets not forget China. You think all this forgiveness of Billions of dollars in debt, they would allow Iraq to steal away their profits. Think about the oil contracts, they aren't gonna let that happen.

Firstly, please click on the link:

www.en.wikipedia.org/wiki/Iraqi_dinar

www.en.wikipedia.org/wiki/Development_Fund_for_Iraq

Iraqi Ministry of Finance and CBI should know how many tons of IQD were printed and strictly accounted for in each and every fiscal year through international auditors KPMG who were chosen by the Coalition Provisional Authority and the International Advisory and Monitoring Board to perform external audits of the Coalition's expenditures from the humanitarian Development Fund for Iraq. I don't personally believe CBI would have sufficient tons of IQD delivered to US, Japan, France, GB, China, Russia and many others because to print that much IQD, what did they pay to De La Rue to produce tons of IQD in the very first place? If I am the boss of De La Rue, I need to earn gold bullion as my profits on the purchase of their goods of IQD. Why must Iraq pay me in IQD to print IQD for them? It doesn't make sense. And how much tons of USD can Iraq get to pay me if USD is not their national currency at all. And I don't need Iraq to give me oil as their payment because I don't have warehouses to store oil at all and it is a costly idea to accept oil as their payment. Many governments might possess Iraqi Dinar as an investment but I don't think they have tons of it. We need to see the truth in perspective with both conceptual intelligence and numerical intelligence, equally. Don't worry because I am against all the unjustifiable policies of lopping any currencies particularly IQD!

Link to post
Share on other sites
Guest
This topic is now closed to further replies.
  • Recently Browsing   0 members

    No registered users viewing this page.



  • Testing the Rocker Badge!

  • Live Exchange Rate

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.