Central Bank closes sales for the liquidation of accounts in 2011

[trooper]

Central Bank closes sales for the liquidation of accounts in 2011

02/01/2012 15:19

Baghdad, January 2 (Rn) - The Central Bank of Iraq on Monday that he closed his sales to liquidate the accounts of the 2011 final.

Iraqi dinar, Iraq money The deputy governor of the Central Bank of the appearance of Mohammed Saleh told the Kurdish news agency (Rn) "did not open today, the Iraqi Central Bank foreign exchange market to settle accounts in 2011 and get ready to open shops in 2012."

He added that "these technical measures do not affect the trading price of the dollar in the markets," noting that "there will be a final settlement of accounts for the year 2011 by a committee of experts and laws."

Saleh continued by saying that "the Iraqi Central Bank to take important steps towards strengthening the market currency in the country."

Iraq is recovering after years of war, sanctions and the oil still dominates the economy, accounting for 95 percent of government revenue.

Investors complain that the economy of Iraq, which is still subject to a high degree of central planning suffers from administrative and procedural complexities that most transactions are in cash.

The Central Bank of Iraq has begun to discuss amending the categories of the dinar last year by deleting three zeros from the currency in order to facilitate financial transactions. And still a large part of the payments being in cash due to the evolution of the banking system.

The main tasks of the Iraqi Central Bank to maintain price stability, and the implementation of monetary policy, including exchange rate policies, and management of reserves of foreign currency, and the issuance of currency management, as well as to regulate the banking sector

From: Jafar Allonan. Open: Abdullah Sabri

http://translate.google.com/translate?act=url&hl=en&ie=UTF8&prev=_t&rurl=translate.google.com&sl=ar&tl=en&twu=1&u=http://www.aknews.com/ar/aknews/2/281840/

Edited January 2, 2012 by trooper

[tim5400]

Saleh continued by saying that "the Iraqi Central Bank to take important steps towards strengthening the market currency in the country....that sounds good to me...but....they say the same crap all the time

Read more:

[jetphyxr]

Central Bank closes sales for the liquidation of accounts in 2011

02/01/2012 15:19

Baghdad, January 2 (Rn) - The Central Bank of Iraq on Monday that he closed his sales to liquidate the accounts of the 2011 final.

Iraqi dinar, Iraq money The deputy governor of the Central Bank of the appearance of Mohammed Saleh told the Kurdish news agency (Rn) "did not open today, the Iraqi Central Bank foreign exchange market to settle accounts in 2011 and get ready to open shops in 2012."

He added that "these technical measures do not affect the trading price of the dollar in the markets," noting that "there will be a final settlement of accounts for the year 2011 by a committee of experts and laws."

Saleh continued by saying that "the Iraqi Central Bank to take important steps towards strengthening the market currency in the country."

Iraq is recovering after years of war, sanctions and the oil still dominates the economy, accounting for 95 percent of government revenue.

Investors complain that the economy of Iraq, which is still subject to a high degree of central planning suffers from administrative and procedural complexities that most transactions are in cash.

The Central Bank of Iraq has begun to discuss amending the categories of the dinar last year by deleting three zeros from the currency in order to facilitate financial transactions. And still a large part of the payments being in cash due to the evolution of the banking system.

The main tasks of the Iraqi Central Bank to maintain price stability, and the implementation of monetary policy, including exchange rate policies, and management of reserves of foreign currency, and the issuance of currency management, as well as to regulate the banking sector

From: Jafar Allonan. Open: Abdullah Sabri

http://translate.google.com/translate?act=url&hl=en&ie=UTF8&prev=_t&rurl=translate.google.com&sl=ar&tl=en&twu=1&u=http://www.aknews.com/ar/aknews/2/281840/

Perhaps he was in a hurry and forgot to mention, ..."out of the country, too."

[FarmersDaughter]

Saleh continued by saying that "the Iraqi Central Bank to take important steps towards strengthening the market currency in the country....that sounds good to me...but....they say the same crap all the time

Read more:

I was thinking the same thing. This sounds like it could be the beginning of something interesting but we have read so many articles that said the same thing over and over. It will end up being like the "Boy that cried Wolf". When the real article hits the media, we will say "yea, whatever, blah, blah blah". I think when it really happens, that it is going to take a while to sink in after all of the false alarms. I will probably have to drive to the bank before I believe it. LOL

[despain]

I was thinking the same thing. This sounds like it could be the beginning of something interesting but we have read so many articles that said the same thing over and over. It will end up being like the "Boy that cried Wolf". When the real article hits the media, we will say "yea, whatever, blah, blah blah". I think when it really happens, that it is going to take a while to sink in after all of the false alarms. I will probably have to drive to the bank before I believe it. LOL

Yes, I agree...

[uncirculd]

"settle accounts in 2011 and get ready to open shops in 2012."

That sounds to me like balance the books and then RV. I could be having wishful thinking, but I remember Shabibi saying that. He would lower the money supply, balance the sheets, and RV the rest.

[uncirculd]

"settle accounts in 2011 and get ready to open shops in 2012."

That sounds to me like balance the books and then RV. I could be having wishful thinking, but I remember Shabibi saying that. He would lower the money supply, balance the sheets, and RV the rest.

Trooper, great article!

[PUNT18]

Central Bank closes sales for the liquidation of accounts in 2011

02/01/2012 15:19

He added that "these technical measures do not affect the trading price of the dollar in the markets," noting that "there will be a final settlement of accounts for the year 2011 by a committee of experts and laws."

I find it somewhat peculiar that if all they are doing is closing for a year end "close out reconciliation" why even mention the trading price of the dollar at all????

Just say, " hey we are closed so we can balance out the 2011 FY" and be done with it...............Makes you wonder just a tid bit ........

Here's hoping

GO RV!!

:D :D

[mariejose]

I was thinking the same thing. This sounds like it could be the beginning of something interesting but we have read so many articles that said the same thing over and over. It will end up being like the "Boy that cried Wolf". When the real article hits the media, we will say "yea, whatever, blah, blah blah". I think when it really happens, that it is going to take a while to sink in after all of the false alarms. I will probably have to drive to the bank before I believe it. LOL

I KNOW WHAT YOU ARE SAYING. BUT HOWEVER THIS TIME I THINK IT'S GOING TO BE DIFFERENT. BASICALLY BECAUSE THEY ARE NOW A NON OCCUPIED COUNTRY. AND THEY HAVE TO MOVE ON TO BECOME THE WEALTHY NATION THEY HAVE THE MEANS TO BE, DESPITE ALL THE POLITICAL SQUABELLING.

[zigmeister]

I was not here last year, so for those who were my question is did they do this last year or any before that?

[JWJW11]

So in essence the CBI is stating no currency auctions? So they can balance the books........sounds good to me!

After the last few weeks of huge auctions......I think I like where this is going!

Anyone read the same?

[harleyrider1]

Thanks for post trooper. It all sounds good, but, like already mentioned, we have seen this type of article before. I hope the new year brings new stuff...ie, RV baby!!!

[Carrello]

Dr. Shabibi has stated he needed 3-4 days for CBI to be closed down to get operations in order prior to an RV.

[zigmeister]

Dr. Shabibi has stated he needed 3-4 days for CBI to be closed down to get operations in order prior to an RV.

Wow! Have they ever made announcement before at the beginning of the year on closing down operations to settle the books?

[Patriotic_mess]

Dr. Shabibi has stated he needed 3-4 days for CBI to be closed down to get operations in order prior to an RV.

Well they've been closed for a few, should I be looking at a bigger gunsafe right now?

[easyrider]

Wow! Have they ever made announcement before at the beginning of the year on closing down operations to settle the books?

not sure but IMHO this woulld make the most sense to me cclose the CBI down balance the books for 2011 make sure everything is in order come back with a changed rate we can only hope.

[Abarvets]

not sure but IMHO this woulld make the most sense to me cclose the CBI down balance the books for 2011 make sure everything is in order come back with a changed rate we can only hope.

Love your thinking, lets hope Shabbi is thinking the same way. Any idea when they are to reopen?

[BradyBear]

For my two cents, it gives me more comfort that lately we have seen Big Brother : Saudi Arabia stepping up to get their brothers act together.

[Canuklady]

So in essence the CBI is stating no currency auctions? So they can balance the books........sounds good to me!

After the last few weeks of huge auctions......I think I like where this is going!

Anyone read the same?

I am right there with you! This is getting exciting!

Great post Trooper.

[InItSince05]

Dr. Shabibi has stated he needed 3-4 days for CBI to be closed down to get operations in order prior to an RV.

If I'm not mistaken Dr. Shabbibi made that statement back in April of 2011. I remember that. ;)

Edited January 2, 2012 by InItSince05

[unirod]

Wow! Have they ever made announcement before at the beginning of the year on closing down operations to settle the books?

Zig,

Great question!! I hope someone researches this.......

[JWJW11]

I am right there with you! This is getting exciting!

Great post Trooper.

Yea it is!

[Psych]

Dr. Shabibi has stated he needed 3-4 days for CBI to be closed down to get operations in order prior to an RV.

I have heard this fairly often on here and other sites. Did Shabbs actually say this or is this something where someone twisted his words or even made up. It's kinda like the Bush statement that no one can really verify... that the Iraq war will pay for itself...one thing I've learned about this investment....NEVER take anyone's word for it or give them the benefit of the doubt...cynical...better than being gullible in my book...no disrespect here Carrello...just looking for the truth.

[zigmeister]

I have heard this fairly often on here and other sites. Did Shabbs actually say this or is this something where someone twisted his words or even made up. It's kinda like the Bush statement that no one can really verify... that the Iraq war will pay for itself...one thing I've learned about this investment....NEVER take anyone's word for it or give them the benefit of the doubt...cynical...better than being gullible in my book...no disrespect here Carrello...just looking for the truth.

I do remember hearing Bush say this. However on record, those in his cabinet did say it.

[JWJW11]

Come on ya'll stop lookin at everything and calling RV. I have read articles like this for over a year ... I don't think they are doing anything with this. This will not RV for at least 2 years, and all the pumpers hawkin this site know just as well as I do that I will get a hundred (-) 's but you all know deep down I am right. They are not ready for this, all this fighting and crisis going on.

I don't know that your right about anything except bringing negativitey constantly............if you feel the way you do that's cool.....just exit to the left! No one really cares what you think anyway......that's why you get negs........looks like your not the one who is ready.....but you should be......