[bluedog2] CaliDreamers what is BIS?
[Fresh] bluedog2 Bank of International Settlements
[bluedog2] Fresh Thank you!
[Fresh] CaliDreamers I think CBI initiates release before any other agency, etc IMO
[CaliDreamers] bluedog2 I believe it is the world bank in Switzerland
[millionday] i cant find the law on the taxation but can summarize
[faith1] Love this…. 1:38 PM [wilbur48] “Nijaifi expressed the readiness of the parliament to support the CBI and its current administration to control the exchange rate and serve the citizens,” Serve the Citizens LOVE IT !!
[millionday] i guess i cant summarize — all i got is the consumer will be taxed on gains but that is not all of it — i will try to find it for tonight hun
[onthewings] millionday will the law on taxation delay the rv ?
[The s family] Million why is the cbi audit significant? Or is it not
[millionday] the law may have been because of it and a way for the us to make money which would not be shocking — due to the way it was written even a laymen could find loopholes so it may have been due to it coming
[millionday] The s family final fiscal year accounts at one rate and then moving forward to another would demand an audit
[onthewings] millionday What about a delay in the implementation of the customs law ? would that delay the rv ?
[miraclehands] millionday is it in your opinion possible to RV in July or do you feel we will not see it till later on?
[millionday] onthewings no it would not delay the rv — it would speed up the customs for that coming in other then through free trade zones ect — they will be a huge trade center and are expected to soar the middle east and
[millionday] remember they are building that massive historical road to Europe — i would like to find an update but i am sure some of you remember when that plan was laid out — massive
[anthonlcs] millionday Im glad to see that ramadam hasnt slowed a thing down! Seems like good news everyday!
[onthewings] millionday I am so happy to hear that !! ty vm
[millionday] me too — i remember years ago we thought the whole country stopped during ramadan — goodness we have learned a lot smile
[anthonlcs] millionday lol
[anthonlcs] millionday exactly
[millionday] i can remember many reporting that no one works and all money exchanges stops — had to laugh smile brb with more
[millionday] While revealed that the reserve bank amounted to $ 76 billion in May last year, counting that out of Chapter VII would give Iraq “more freedom” to act and attract foreign investment. calls for a member of the Economic Commission representative, to the need for “multiple revenue estimated reflected on the economy and not on the availability of cash reserves large,” and continues that this “evolution in oil production and reserves, the central bank must be reflected on the lives of the citizens, because the country still has a large proportion of the poor and low-income and high unemployment, crisis housing and the deterioration of agricultural and industrial sectors. “ and sees Abtan, that “Iraq does not suffer from the crisis of funds but from how to manage money, causing paralysis of the Iraqi economy,” and calls for “Bank of Iraq the central need to take quick steps to delete the zeros from the national currency.”
[millionday] and is a member of the Economic Commission Parliament, that “the reserve that exists in Iraq and put the current economic is not commensurate with the size of the local currency and value that contains the number of zeros, and the current currency does not befit the status of Iraq and strengthen the economy.”
Daini: out of Chapter VII made it necessary to delete the zeros For its part, says a member of the Economic Commission representative, Nahed al-Daini, in an interview to (range Press), said that “the deletion of zeros from the currency became a reality, especially after the withdrawal of Iraq from Chapter VII of the Charter of the United Nations.”
And remember Daini, that “the Economic Committee of the Council of Ministers were wary in the past of the deletion of zeros from the currency of many considerations, “and turned out to be” out of Chapter VII made it necessary to delete the zeros to be of the Iraqi dinar absolutely privacy
[millionday] and calls for a member of the Economic Commission parliamentary political forces and stakeholders “Leave excuse the wrong time, which taken as a pretext to stop a lot of decisions which, if applied to have contributed to the recovery of the Iraqi economy significantly, “and stresses the need to” adjust the border crossing points and the adoption of the law of customs tariff and reset the currency and the implementation of the Consumer Protection Act for the advancement of economic reality. “
Najib: The project requires a real will to that says member Finance Committee parliamentary Najiba Najib, in an interview to (range Press), “The Commission did not discuss with the Iraqi Central Bank Multi deletion of zeros from the local currency after assuming Abdel Basset Turkish presidency,” and explains that “the Finance Committee parliamentary pending claim CBI to discuss with him in this matter.
[millionday] note — in other words — enough talk all ready
[millionday] Search head of the Islamic Supreme Council Ammar al-Hakim with the Emir of Kuwait Sabah Al-Ahmad Al-Jaber Al-political situation in Iraq and the region in general.
According to the Kuwaiti news agency on Tuesday: The Emir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah and Kuwaiti Crown Prince Sheikh Nawaf Al-Ahmad Al-Jaber Al-Altqa head of the Islamic Supreme Council of Iraq Ammar al-Hakim
[millionday] He praised the Kuwaiti Crown Prince: the efforts of al-Hakim in the “convergence of views between the political leaders in Iraq and the unity of Iraq and the consolidation of its pillars,” and expressed the hope that “prevail in safety and security and stability in Iraq to back Iraq’s civilization united bright.”
Ammar al-Hakim had arrived yesterday to Kuwait in a several-day visit during which he will meet with senior Kuwaiti officials to discuss relations between the two countries and the latest developments in the region.
[anthonlcs] Somebody was asking about whose responsibility it was to raise the value of the IQD..
.Heres a new article….Economic: Iraqi dinar exchange rate stability the Central Bank responsibility | On 2013-07-17 | Writer Eman Kassem Alalam The Commission on economy and Investment Bank representative to ensure the stability of the dinar exchange rate to foreign currencies the alara is the responsibility of the Central Bank of Iraq.
The Central Bank has promised to take action to lift and stabilize the dinar as before but the decline of the dinar is still erratic in the Iraqi market to fall and rise.
[anthonlcs] He said the Commission’s decision in a statement Khalil mehma: “that the Central Bank is obliged to keep the exchange rate of the Iraqi dinar and sovereign balance must be preserved and feature in the Iraqi economy that is expected to be Iraqi dinar economic identity in the region that Iraq economic OASIS and its promising economy.”
he noted that “the Iraqi dinar exchange rate depends on the Iraqi Central Bank and political task of maintaining the value of the dinar which is built on the basis of the price of a barrel of oil and the price of the US dollar a  he added dinar  DT Commission became 1199.
Khalil said that “price is still erratic and stability is through control of the movement of the dollar and the market may not be balance in 2007 Iraq 10 billion dollars and exchange rate 1200 and today our $ 76 billion and five years after the exchange rate remains the same, this is not permissible and is unreasonable.”
[anthonlcs] The Iraqi Central Bank issued new instructions to stabilize the exchange rate of the Iraqi dinar against foreign currencies through weekly quotas for banks and money transfer companies and will increase and reduce the quota for each delivery commitment amounts that customers of citizens. http://www.microsofttran ··· d%3D2599
[millionday] thank you hun — now i have something that goes with that from last night brb
[millionday] someone asked me why the high auction on Monday let me address this before i show you — the plan that was released for the dinar and their rate economy ect by shabibi had referred to the program rate to be 1166
[millionday] many of us remember that and it can be found on cbi site pages 43 through 48 of a document of 119 pages i believe was the total but this tells us that the plan had the first half of the year at 1166 and then the new rate for the next half — [millionday] here is what i have on that auction
[millionday] Sales rose Iraqi Central Bank of the dollar in the auction sale and purchase of foreign currency on Monday to 356 million and 882 thousand dollars, after that on Saturday reached 182 million and 488 thousand dollars, a stable exchange rate was 1166 dinars per dollar.
He said the central bank said in a statement today that the demand for the dollar distributed by 78 million and 125 thousand dollars was sold in cash while the value of the amounts sold form of remittances 278 million and 717 thousand dollars, select the price to 1179 dinars per dollar, and the purchase price cash of $ 1171 dinars. ”
And participated in the auction currency today 24 waged, banks. He ruled out $ 62 million and 871 thousand dollars of banks participated in the auction, for the purposes of auditing and other services related to combating money laundering, as well as various other reasons
[millionday] so the huge auction was to adjust the exchange rate to 1166 by what i have found
[millionday] very nice
[booboo] I thought it was 1166 already
[millionday] so we have iraq in kuwait for a few days — the world bank approving the monetary plan and the banking reform documents from cbi and we have the un meeting yesterday and commending from kuwait on the relations with iraq and we have the auctions monday bringing it to a rate of 1166 which we would hope to see
[millionday] must not have been
[millionday] so the meeting with and the acceptance of the documents from cbi make us happy — and obviously make them happy too — smile
faith1] I don’t understand,,, thought it was 1166 ?? sorry I’m confused again!!
[millionday] it had raised
[LBnFL] CBI website “Sell 1166, Buy 1164”
[The s family] Well we are in the second half of the year…and they are still wanting it at 1166…
[schmidtberger] millionday …are we still looking at sometime in july in your opinion?
[booboo] than the CBI needs to update their website its been 1166 for a long time.
[millionday] now it is after the auction on Monday
[anthonlcs] faith1 market rate
[dlherm] Faith1. It is pegged to usd at 1166 but it will naturally fluctuate from day today so in order to keep it at 1166 they have the auctions
[millionday] well the rates for purchase have shown the change so i have no idea
[LBnFL] CBI website “Sell 1166, Buy 1164” has been the same since I have been in this.
[millionday] they have been fluctuating a lot recently
[LBnFL] Not trying to be difficult, just don’t understand.
millionday] isx will show you hun
[anthonlcs] IMO ..They want the market rate to be as close to the CBI rate to keep from hurting the IRAQI people
[millionday] let me look for more news brb anthonlcs i agree
[tiger_ag] as demand for the dinar goes up with people buying as an investment, it pulls dinar out of iraq, thus price will go up….big action re saturates the market and drops the price back to 1166? could that be an explanation?
[dlherm] The currencies against other currencies fluctuate all the time! Just look on netdania and you will see it! The auctions keep it steady at 1166!
[millionday] right the auctions will be used in the future to maintain inflation and the rate of the dinar in the market place
[booboo] concern it will be a long time before they RV
[wmawhite] tiger_ag tiger_ag …….the value of the IQD has been increasing…….thus the rate on the street has dropped (increased) from 1200 to 1166.
[millionday] it was a plan that was started by shabibi and then stopped and then continued but monday it was a huge auction so the explanation was to get it back down to 1166 as a real rate
[millionday] which is good news
[The s family] Ok, how is that beneficial?
[millionday] because it is referred to on many documents throughout this process as the rate of the dinar for the plan and the changes occurring
[booboo] my understanding was 1166 was a artificial rate.
[dinarmamma] Millionday I thought the real rate was 3.42 or there about
[The s family] so confusing
[dlherm] If you look at rates on cbi site usd rate has stayed at 1166. But since i am in canada, i look at cad rate and it has changed significantly going from 1142 to 1107 at one point!
[wmawhite] booboo …it is artificial because it does not reflect the true value of the IQD.
PART 3 CONTINUED