Thread: Iraq/Dinar News. 09/05 to 01/14/07

Originally Posted by TheBrain

There is no special case. Banks don't get their quotes from Central Bank websites period.
Call any bank for that matter and ask them if they had to get a rate for the ID where would they get it, all will tell you from the daily FX market, not from cbiraq.org
Or even better, call bank of America and ask with the URL is for the Central Bank of Iraq.

ok but where does the fx get there rates??
someone ends up getting it from the cbi

Divide .68 into 1=1.4705882

Originally Posted by bultn

Confusing indeed, since the rate is not and has never been 1470 USD/1 IQD

If the rate is now 1470 IQD = 1 USD which is 1 IQD = 0.00068 USD, could somebody please show me how to move the decimal to get 1 IQD = 1.47 USD? When I try, I get 1.47 IQD = 1 USD which is 1 IQD = 0.68 USD.

I'm not saying that it cannot revalue at 1.47$, but I say it cannot be done by moving the decimal.

Originally Posted by Hardwood

Am I the only one here that doesn't get what "Sarah" means in your posts??

Please help us out so we know what you are trying to say....

Is it your way of saying "Say Rah!!" Like a cheerleader?? Not sure, just curious.

Old Doris Day show, not sure the spelling, but "Kay Sarah, Sarah...whatever will be will be." Maybe?

Originally Posted by lazyasL

RR
I did a history on the FXConverter - Currency Converter for 164 Currencies, and even tho the CBI site is down, they are still in business and quoting.....there has been movement on the exchange rate daily....check it out

FXHistory - Historical Currency Exchange Rates

That is due to the movement of other currencies, not the dinar.

(Voice of Iraq) - 10-20-2006 | This issue was sent to a friend

It is expected to be signed today in Mecca, the document reached by the clerics Iraqi Sunnis and Shiites, which affirms the sanctity of Muslim blood in Iraq.

The conference aims at ending the sectarian violence in Iraq have started yesterday under the auspices of the Organization of the Islamic Conference to stop the escalating violence in the country.

In a meeting with the BBC, Mr. Salih Haydari President of the Court to stay the Shiite Shiites bound document Mecca anybody would bloodshed of the Iraqis.

A number of clerics from the Iraqi Sunnis and Shiites have flocked to Mecca to participate in the conference.

The participants intend to appeal today, Friday, in front of the Kaaba coincide with the ten nights of Ramadan, calling all Iraqis to end the factional fighting which has claimed the lives including tens of thousands of Iraqis.

The month of Ramadan has witnessed a rise in the rate of bloodshed in Iraq.

Park and the senior Iraqi Shiite leaders of this meeting, but threw analysts cast doubt on its effectiveness in stopping the death squads operating in Iraq.

Sponsoring Organization of the Islamic Conference meeting, , which seeks to adopt a document based on the points of Quranic verses prohibit murdering Muslims.

The document calls as well as to preserve the holy sites of both Sunnis and Shiites and preserving the unity and territorial integrity of Iraq and release "all innocent detainees."

A spokesman for the Organization of the Islamic Conference that the upcoming summit, "did not constitute a forum and not a forum for negotiations. but a meeting of the checklist and Shiite religious scholars to adopt the document, which will be distributed to the Iraqis and announces the media. "

He added that the initiative was aimed to calm the sectarian violence.

In statements to the BBC said Sheikh Ahmed Abdel Ghafur al-Samarra'i, Chief of Staff of the Sunni stay in Iraq and participating in the conference that the conference was the result of the suspension agreements preceded the Sunni and Shiite and the World Federation of Muslim Scholars, and there was a preparatory committee of six scientists sat down ten days ago, the drafters included a major opinion investigated m Iraqi blood.

He added that the most important point is that the ensuing statement Shiite or Sunni Muslim Muharram Dmahma on any person, saying that outlawing murder is the priority in this statement and it does not respond to this opinion will be in his heart scintilla of faith, according to the recipe.

Al-Maliki
For his part, Iraqi Prime Minister Nuri al-Maliki he hoped that supports talks to be held during the meeting, the efforts of national reconciliation adopted by the government.

He added : "We hope to build on each step taken by those who were interested in the interest of Iraq and condemned the terrorist acts in Iraq."

He said that the meeting will support the efforts that aim to find common ground for dialogue in Iraq.

He also endorsed the Shiite Grand Ayatollah Ali al-Sistani step and wished it success, but a statement issued by his office pointed out that he would not send a representative to participate in the conference.

Also, the Shiite leader Muqtada al-Sadr, , which accuses the United States of the Mahdi Army, which operates under the control of carrying out the killing, it would not send a representative but expressed support for the conference, which aims at achieving the interest of Iraq, pointing at the same time that he preferred being held in Iraq.

On the other hand, the expected failure of the Iraqi academic.

He said Dargham Skinner, "The Saudis good faith of course, but the meeting will not succeed and will not have an impact on the ground."

He attributed his view by saying that the conflict between Sunnis and Shiites is the result of the occupation : "Americans have fanned sectarianism in Iraq. now who is suffering from civil war, the Iraqi government refuses to recognize. "

Sotaliraq.com

A Call for Re-framing banks
To activate their role in the processes of reconstruction and development
20/10/2006
Source: Al-Sabah


Economic expert disclosed that the banking system in Iraq is suffering from deficiencies in performing its core functions, stressing the need for re-framing government banks. Dr. Majid Assoori, an expert at the Iraqi Central Bank, said in an interview on the role of banks in the economic reform: the fundamental task of re-framing banks is improving their performance in order to provide banking services to the government, institutions and individuals in accordance with the requirements of developing the economy.

Assoori emphasized that the banking sector plays an important role in the international economic and financial relations; therefore, it has a considerable international attention that the banking sector needs to be responsible and accurate in implementing these transactions.
He said: Therefore, the main objective of re-framing is to eliminate the problems facing banks and ensure the functioning of local and international dealings.

The tasks of re-framing are determined by two main factors: first, The existence of a genuine, clear and transparent political will to do this process, and a proper timing in a relatively calm financial banking activity.

The second task in financial re-framing includes the commitment to the minimum capital for the banks. If a transition to be made to broad international activity, the capital should be increased to its higher levels as well as reconsidering the credit portfolio and improving its management; also, obliging to regulations, instructions and procedures.

Dr. Magid pointed to the need to ease the liabilities of banks and convert as much as possible to increase the capital. Some of the requirements of re-framing banking activity are to reconsider the type of services provided, develop and execute them as soon as possible, strengthen internal controls and monitoring compliance, policy-making is also required in accordance with the Banking Law and the regulations of the Central Bank and the instruction of the Board, as well as reducing operational costs and the use of modern means of providing banking services.

Assoori believed that one of the requirements for re-framing government banks is to reconsidr specialized banks and merge them in one bank to develop industry, agriculture and the projects related to them.

He called for capital increase up to half a billion dollars in order to be able to deal with the new tasks of the current stage of economic development, and the exploitation of part of the oil resources allocated to this development, in order to develop the industrial and agricultural activities, small and medium-sized, to be a center for attracting foreign investments and collaborate with them to implement of these projects, even big ones.

He concluded by saying that the re-framing of banks requires acting according to a well studied plan and serious work by all of those related to these banks and these are, basically, the State represented by the Ministry of Finance, as the sole owner of these banks and the Iraqi Central Bank as the supervisor of the banking activity and the most specialized in assessing this activity. He also said :

Without the cooperation of these bodies and to the support of the government, it is impossible to accomplish the task of re-framing government banks drastically. He pointed out that the re-framing will activate the role of banks in the process of reconstruction and development.

Originally Posted by TheBrain

Yes the rate comes into the FX from the CBI but the banks do not go to the CBI website for a quote. Very simple way to avoid argument, call the bank and ask for the website for the central bank of Iraq.

But if the CBI site is down, the only numbers they would have would be the numbers last posted...right?

(Voice of Iraq) - 10-20-2006 | This issue was sent to a friend

Hoshyar Zebari, the Iraqi Foreign Minister : Iraqis agree to maintain the unity and sovereignty of Iraq and the political system the Iraqi constitutional
19 / 10 / 2006 21:21 (GMT)

Said Hoshyar Zebari, the Iraqi Foreign Minister that the position of President Bush was not against federal law and against the Territories in the Constitution, He pointed out that the United States itself a federal country.
Zebari said in an interview with "Radio Sawa" that the Iraqis agree to maintain the unity and sovereignty of Iraq. although the political system would Iraqi constitutional.
The following is the text of the interview conducted with him on October 19, 2006 :
O-rejected President Bush, in an interview with the Fox News station news division of Iraq is clearly aroused many questions. Do you think the existence of a radical change in the American position towards federalism in Iraq?
C - according to our reading of the statements made by the American administration there is no change in the American position. President Bush has said that he against federal law and against the Territories in the Constitution, because the United States is itself a federal country.
This issue is not essentially all Iraqis agree to the preservation of the unity and sovereignty of Iraq. The political system is the headquarters of the Iraqi Constitution, which received the approval and endorsement and support of the American government. that meant was that the fragmentation and the fragmentation of Iraq into three statelets or mandates staggering unlikely.
O-for the first time since the fall of the senior U.S. official speaks so clearly about the unity of Iraq, in your opinion, are there reasons make the American administration speaks with such clarity?
C-From the outset the resolutions of the Security Council, endorsed by the United States and the American position on the unity of Iraq and to the vision of the future of Iraq, parliamentary, pluralistic, federal unified, We do not see any change in this trend.
O-Is there American pressure on the Iraqi government to launch a general amnesty and calm conditions?
C-there is no pressure, The issue of amnesty proposed by the government as part of a national reconciliation, but there are some disagreements on those covered by this amnesty, there are criminals and there are people who have committed heinous crimes against Iraq. It must be duly punished.
The issue of amnesty in Iraq is different because these terrorists and Baathists and criminals are behind the power and refusal to change the situation and the existing reality.
O-Conference Mecca at the door, Vice President of the Republic, Mr. Hashemi in Amman and will go to Saudi Arabia, News mentioned the possibility of the presence of Mr. al-Maliki the Mecca. Is there nothing signals a new agreement or reconciliation new?
C - Mecca initiative was mainly from the Ministry of Foreign Affairs of any of the Iraqi government posed at the meeting of the neighboring countries, which was held recently in Tehran.
Responded Organization of the Islamic Conference and Saudi Arabia supported the idea to organize such a meeting between leaders of religious Shiite, Sunni in Mecca during the month of Ramadan in Makkah to the agreement and to reach some of the participants and the foundations of belief of Islam, which prohibits the shedding of Muslim blood and the killers identity or community.
We hope that this initiative contributes to easing the tension and sectarian violence found in the Iraqi arena.
Question-What are the reasons for the postponement of the visit of the Prime Minister to Turkey and whether they had been fixing a new date for this visit?
C-visit was postponed for technical reasons. The Prime Minister was accompanied to the Baghdad airport for a visit. Not a political storm as rumors among some journalists and observers, but the sand storm at the airport in Baghdad, which led to the aircraft could not take off, He was liaison between the Iraqi Prime Minister and the Prime Minister of Turkey, Recep Tayyip Erdogan. And explained to him the reason for the postponement and the delay and agreed to a later date for the visit and, God willing, will be at the earliest possible opportunity.

Sawa

Sotaliraq.com

are we rich yet ??

Originally Posted by TheBrain

Yes the rate comes into the FX from the CBI but the banks do not go to the CBI website for a quote. Very simple way to avoid argument, call the bank and ask for the website for the central bank of Iraq.

You can't invest in the Dinar in ANY FX market period. The rate that is on the ForEx websites is the CBI rate. That is where they get that rate from. It's not traded therefore it can't move unless the the US dollar moves in which it is currently pegged to. And if you'll read RollsRoyce's post you'll see that the B of A employee did try to go on the CBI site for a rate. Thats when the discussion started about the long downtime.