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Finance committee is expected to equal USD IQD

Hamels

By Hamels,
in Iraq & Dinar Related News

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keepmwlknfny
keepmwlknfny

no comment..... just that.....

keepmwlknfny
keepmwlknfny

Pretty much......When I see talk of the dinar being on par with the dollar WITHOUT mentioning deleting the zeros, then ill get excited lol......if they would leave that part out ALL the time then Id s

Anti This Anti That
Anti This Anti That

I am 100% serious.

DAME1 Newbie

DAME1

Posted
Posted

Yea if they do move forward and agree to remove the zeros then the two currencies would run side by side until the exchange period is over and then the bills we hold now would be deemed worthless.....

I dont mean that they would close the borders literally to everyone and everything, just that they would not allow any dinar to enter Iraq period for exchange purposes...

Yes ....Keep because that's what all Sovereign Nations do :huh::blink: nothing personal but that's not happening......

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Sanssouci Newbie

Sanssouci

Posted
Posted

"during the next biennium"..... is that one or two parsec's ?

I could never keep my Star Wars time schedule straight...

Where's Hans Solo when ya need him ?

The best things in life RV

:) yak

A biennium is a superfluous way of saying two years, which is two yahren in Battlestar Galactica-speak.

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fuzzy77 Newbie

fuzzy77

Posted
Posted

I have a question. If you have a Warka Bank account with 1,000,000 dinar when the RV hits. Who is to say that Iraq will still not simply say that with the deletion of zeroes on the currency, they will need to do the same to your bank balance?? Just an honest question so PLEASE no negative hits :rolleyes:

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JayP Newbie

JayP

Posted
Posted

I have a question. If you have a Warka Bank account with 1,000,000 dinar when the RV hits. Who is to say that Iraq will still not simply say that with the deletion of zeroes on the currency, they will need to do the same to your bank balance?? Just an honest question so PLEASE no negative hits :rolleyes:

This is actually a very good question and point. The truth is, IF they were to redenominate, then it would affect the bank accounts as well. In my opinion, as far as a redenomination is concerned, the bank accounts I do not believe will offer any protections from the exchange of old to new for a 1000:1 in the process of the deletion of the zeros.

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George Hayduke Rookie

George Hayduke

Posted
Posted

How would you get the physical currency there? Thx.

Carrello - that was pretty much my question. It appears his answer is intended to be humorus in that the Warka home page does not list a branch in Kurdistan. But, now after reading another post regarding digital banking it does not appear having ones IQD in a Warka account will protect it from a devaluation.

For right now, I will remain a cash and carry RV hopeful.

Best to you this week.

GH

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keepmwlknfny Newbie

keepmwlknfny

Posted
Posted

Why don't you people get off the roller coaster, and go visit the IQD team for some real facts, and news? LOL!

Oh and by the way, there's not going to be an RV of 1 to 1, it will be some where close to Kuwaits $3.60 some where in the 3 + range. LOL!

I really hope you arent being serious........

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unirod Apprentice

unirod

Posted
Posted

How would you get the physical currency there? Thx.

Carrello,

Jennifer Lopez's bottom won't have anything on me!! LOL Put it in your pockets, be creative, declare it to customs if you want to tell on yourself. But I plan to only take 1 mill increments for safety.

Carrello - that was pretty much my question. It appears his answer is intended to be humorus in that the Warka home page does not list a branch in Kurdistan. But, now after reading another post regarding digital banking it does not appear having ones IQD in a Warka account will protect it from a devaluation.

For right now, I will remain a cash and carry RV hopeful.

Best to you this week.

GH

GH,

I just read an article that stated the Bank of Kuwait just bought $5 Billion USD in an Iraq bank on the ISX. I don't think the Kuwaiti bankers are stupid enough to buy Iraqi Bank shares, if there was going to be a Dinar devaluation. They are looking for many 1000's% on ROI when an R/V strikes!!!

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Stryker365 Newbie

Stryker365

Posted
Posted

Carrello,

Jennifer Lopez's bottom won't have anything on me!! LOL Put it in your pockets, be creative, declare it to customs if you want to tell on yourself. But I plan to only take 1 mill increments for safety.

GH,

I just read an article that stated the Bank of Kuwait just bought $5 Billion USD in an Iraq bank on the ISX. I don't think the Kuwaiti bankers are stupid enough to buy Iraqi Bank shares, if there was going to be a Dinar devaluation. They are looking for many 1000's% on ROI when an R/V strikes!!!

You make a great point and something that crossed my mind too,

also when I read that article I thought that $5 billion investment into a country's stock market that my country was going to keep in Chapter 7 just did not make much sense to me.

Maybe a sign that Kuwait was in an agreement to help release Iraq from 7, IMO

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George Hayduke Rookie

George Hayduke

Posted
Posted (edited)

GH,

I just read an article that stated the Bank of Kuwait just bought $5 Billion USD in an Iraq bank on the ISX. I don't think the Kuwaiti bankers are stupid enough to buy Iraqi Bank shares, if there was going to be a Dinar devaluation. They are looking for many 1000's% on ROI when an R/V strikes!!!

If you are speaking of NBK (National Bank of Kuwait) this is what is listed on their home page: http://www.nbk.com/nbknetwork/Iraq_en_gb.aspx

NBK was one of the original three banks to be granted a license to operate in Iraq and later in 2005 the first bank to successfully complete the purchase of an Iraqi bank, (Credit Bank of Iraq ‘CBI’). CBI was originally set up in 1998 by traditional Iraqi merchant families with a paid up capital of ID200 million before the bank was listed on the stock exchange in 2004. In 2005, when NBK acquired its 75% stake in CBI, it also increased the bank’s capital. NBK helped develop CBI and advance it to be one of the top private banks in Iraq

Today, CBI offers a range of services for retail customers, as well as transfer and trade finance services for local and international companies and contractors. CBI’s branch network includes ten branches in Baghdad, one in Basra and one in Hellah in addition to a business center in the MTC Iraq/Atheer premise in Mansour. As communications and security continue to improve, CBI is working to widen its product offering and increase its reach.

In addition to having a branch in New York, they also list a net profit of USD$219,000,000 for the first nine months of 2011. It would seem to me that with ten branches in Iraq, one could deposit IQD in New York for transfer to an Iraq account.

GH

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Carrello Rising Star

Carrello

Posted
Posted

If you are speaking of NBK (National Bank of Kuwait) this is what is listed on their home page: http://www.nbk.com/nbknetwork/Iraq_en_gb.aspx

NBK was one of the original three banks to be granted a license to operate in Iraq and later in 2005 the first bank to successfully complete the purchase of an Iraqi bank, (Credit Bank of Iraq ‘CBI’). CBI was originally set up in 1998 by traditional Iraqi merchant families with a paid up capital of ID200 million before the bank was listed on the stock exchange in 2004. In 2005, when NBK acquired its 75% stake in CBI, it also increased the bank’s capital. NBK helped develop CBI and advance it to be one of the top private banks in Iraq

Today, CBI offers a range of services for retail customers, as well as transfer and trade finance services for local and international companies and contractors. CBI’s branch network includes ten branches in Baghdad, one in Basra and one in Hellah in addition to a business center in the MTC Iraq/Atheer premise in Mansour. As communications and security continue to improve, CBI is working to widen its product offering and increase its reach.

In addition to having a branch in New York, they also list a net profit of USD$219,000,000 for the first nine months of 2011. It would seem to me that with ten branches in Iraq, one could deposit IQD in New York for transfer to an Iraq account.

GH

Thanks George! This is something to look into, which I will do later. Got to go to a clients and bring home some bacon.

Do you remember the fog when we were kids in LB?

Unirod, thanks for the answers about the cash. I did do that once and quite a sum to London. Ah, the old days.

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George Hayduke Rookie

George Hayduke

Posted
Posted

Thanks George! This is something to look into, which I will do later. Got to go to a clients and bring home some bacon.

Do you remember the fog when we were kids in LB?

Nothing like the Tule fog we experience this time of the year up here in the San Joaquin Valley - Although, I do remember being frustrated about going up to Signal Hill and not being able to watch the submarine races due to the fog - or maybe it was just the front window that was fogged up :P It was either the weather or my memory that is hazy... selective memory loss and plausible deniability both apply to protect the not so innocent... ;)

Ah yes, the good 'ol days in Long Beach B)

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