Baghdad (AIN) –The Economy and Investment Parliamentary Committee demanded the Central Bank of Iraq to maintain the price of the Iraqi dinar in exchange of foreign currencies.
The Secretary of the Committee, Mahma Khalil, told AIN ”The CBI is obliged to preserve the price of the IQD in return of foreign currencies since the currency of the State represents its economic identity at the political arena. ”
”The price of the IQD totally depends on the CBI policy whose task is to preserve the price of IQD which was built basically on the price of oil barrels,” he added.
“The Secretary of the Committee attributed the vacillation in IQD price to its association with the Iraqi political fluctuations and the security situation which holds off investment opportunities,” he concluded

BulldogFord65 » July 16th, 2013, 9:54 pm  •  

Hello Family: Here are the notes from tonight’s CC. May the Lord’s blessings be on each of you!

“Ye are the light of the world. A city that is set on an hill cannot be hid. Neither do men light a candle, and put it under a bushel, but on a candlestick and it giveth light unto all that are in the house. Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven.” Matthew 5:14-16 KVJ

Frank26 IQD Update after Bible Study Tuesday, July 16, 2013

• The ISX has traded 2 trillion dinar this year, not bad for penny stocks!

• There is so much going on, the CBI and GOI working together; how is the stock market doing today? Frank will come back to this later
….
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• Article: The economic parliamentary said the current currency is not worthy in Iraq – meaning the value is not acceptable for the explosion that is about to happen in their economy

• CBI currency auctions are huge, and notice it’s their own currency, not foreign currency that’s being traded; couple it with 2 trillion on the stock market and it’s obvious that something is happening!

• M has been “tagged” and now it’s his turn to go to Kurdistan; in Frank’s opinion, about a week after M’s visit, we’ll see B go to Baghdad

• Frank read Society’s post from today and agreed that it’s correct except that Frank will not back down from the CNN International report, he stands behind this report, if he had reason to retract it, he would, but he continues to stand behind it

• Walkingstick article today quoting B statement that he will not be president for life, it’s temporary; article from yesterday that M wants to seek a third term — B is showing that he’s the “good son”

• The USA has been decreased in its credit rating twice by the IMF; today an article came out from the Deputy Governor of the CBI (Mohamed Shaleh) discussing the credit rating of Iraq which is backed by bonds, and although low rating, it’s better than none – but, the rating is class B (which even at 1166 rate is better than the USA!!). He went on to say that the rating will increase with their oil wealth, etc

• Article about ISX going electronic was old, they have been electronic since 2009, but yesterday was the first time NASDAQ used their electronic platform to conduct trading with Iraq; for the first time today, US stocks began trading in the Green Zone!!

• Frank asked the family to do homework on the ISX, and Goldman Sachs is a good place to start

• Frank reported yesterday that M and S will both make announcements; Frank then role played a call from M to B: M has a “blank check” for B; THIS WAS THE ANNOUNCEMENT FROM M TO THE CITIZENS OF IRAQ!

• In Frank’s opinion, he hopes to see the announcement from S next week

• Hakim met with the Emir and Prince of Kuwait: they know it’s very important to meet the obligation of the money that is owed

• Frank read post 281 by El Camino from the 7/15 thread regarding attitude – story of a man who viewed everything as a choice: be in good or bad mood? Choose good; be a victim or learn from bad experience? Choose to learn; every situation is a choice – it’s our choice how we live our life; the man was shot in a robbery, and his choice to be positive and his choice to live in the face of a near-fatal wound saved his life; we have the choice to live fully or not, and our attitude is everything

• In response to this post, MDretiree replied how much the post meant to him, especially in the face of his own very serious health issues, that he chooses to live his life to the fullest with whatever purpose the Lord has for him; Frank was very touched that MDretiree’s focus is on serving the Lord in whatever way he can for however long he can; his focus is not on the IQD or the RV, his purpose is to serve God

• Frank shared a bank story : About 3 weeks ago, a trusted friend/advisor of Frank’s in TX was contacted by WF with the offer to provide any needed service; Frank’s friend asked the banker about the IQD, but the banker said it is not his dept., knows nothing about it but will try to find out; the banker just called Frank’s friend, and reported that he spoke with 5 very highly placed wealth managers at WF a few days ago, and asked about the IQD; all 5 confirmed that they are advising their clients to carry IQD in their portfolio, that it will increase in value, they don’t know when but they know what’s going on; this is a huge turn around, WF is no longer denying the IQD, they are training tellers how to direct exchange requests, and the wealth managers are advising 5 – 15% of portfolio to be in IQD; it’s not difficult to understand what’s going on

• Link all of this with Shaleh speaking, the NASDAQ link with the ISX, US stocks trading the Green Zone, M’s “blank check” to B – it all adds up to increase in the value of the IQD

• Frank asked for prayer for Joe, a 10 year old boy with leukemia, and all who stand in need of prayer at this time

Eagle1 came on the call at this point

Eagle1 gave an update: expecting to see currencies on the ForEx, but did not go because the IQD is the pivot currency and the IMF codes expired because of the delay in Iraq; new codes have been provided by the IMF, and we now wait to see if it happens tonight or tomorrow – or not

• Frank commented there will be those that complain about “another excuse” and Frank asked that Regner pray for them

• The conference call concluded with Eagle1 offering prayer for Frank and Tink, and for those who are burdened and troubled with concerns about their investment; Andy then lifted the prayer with the shofar horn blast, and Frank closed with singing “Amazing Grace”

WEDNESDAY’S CONFERENCE CALL IS CANCELLED DUE TO FRANK’S SURGICAL
PRE-OP, AND SURGERY ON THURSDAY
THE NEXT CONFERENCE CALL WILL BE ON MONDAY JULY 22

Prayers for Frank will be appreciated!

[Papa Bear] Calling all Mods Please hold board

[Papa Bear] Would like this to go to recaps immediately please . There is a malicous story out there that is on recaps about me having 2 friends with 100 million Dinar out in Reno that have cashed out. This is very wrong and someone is trying to drag my name through the mud and bring more confusion.

[Papa Bear] Folks those of you that know me know better than that.

[FLPatriot59] FYI… I just let the mod where i got the info know that it’s not true.

[Papa Bear] We have some bad folks involved in this. I would never put something out like this even if it was true which it isnt. It is a complete lie and my integrity is attacked.

 [FLPatriot59] That Mod just corrected the room.

[top_gun] FLPatriot59 ty for letting us know
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[top_gun] Papa Bear thank you very much for coming in to clarify that for the castle

[Papa Bear] I Am hurt and ANGRY. GROWLING and MY CAREBEAR IS TRYING TO CALM ME DOWN.

FLPatriot59] The post containing info supposedly from Papa Bear is false, as given to me by another room’s Mod. He has since corrected the record in the past 10 minutes. As always, treat everything as rumor until proven otherwise.

[Mitzi] PapaBear, I hope this makes you feel a little better. I am reading the post that has you so upset and it only mentions your name in passing. It doesn’t say you did anything at all.

*****************************

[Robertprofessor] Castle friends, I have some good news to share with you!!!! :bananadancers:

[Robertprofessor] Yesterday, I told you about my dad’s banking story at WF. That happened in the Colorado Springs area where one of the bank managers talked openly with my dad about the IQD and VND and that the downtown WF would be the place for him to go.

[Robertprofessor] Okay, a friend of mine in Denver called a few minutes ago with a story that about has me on my knees.

[Robertprofessor] Her brother is a senior VP of one of the downtown WF banks in Denver. He’s been with WF for 40 years. He believes the dinar is a total scam.

 [Robertprofessor] He called their mother about an hour ago with news of a raise he was given today by the senior president of WF for the area. They had breakfast together. The bank president said that he would have a major announcement for all his WF …

[Robertprofessor] … branches on Wednesday morning. He did not reference what it was about, but that it was very big. He spent breakfast talking about the days ahead for WF and how the company will be one of the leading banks in the world.

[dojon] Robertprofessor Is he eating CROW?

[Texastwc] Robertprofessor when is announcement??

[Texastwc] Robertprofessor THAT is awesome!!!!

[WCW] all cards are loaded in iraq all we need is rv rv imo imo imo

[Robertprofessor] This brother of my friend still knows nothing about what is coming. He does not believe in the dinar at all. I got his sister into this investment and she has not convinced him it’s for real. She approached him once and he scoffed. So that was his chance for it.

[Texastwc] Robertprofessor I think a lot of folks will wish they had a chance

[Robertprofessor] So, there it is. Two bank stories from the Front Range of Colorado, two different cities, all completely different people in both stories. Sounds like an rv to me!

Hannah] Robertprofessor I like that bank story …. a lot! Thanks for sharing. And I love that tomorrow is Wednesday!!!

[KajunRedBull] Robertprofessor ….What makes you think this “Announcement” from WF will relate to the rv I only ask because this negative high roller was not told anything by his boss….

sandytob] KajunRedBull can you think of something else the announcement might be about????rofl

[Robertprofessor] KajunRedBull No way to know if the announcement has anything to do with the rv, but nothing like this has happened in the 40 years my friend’s brother has worked for WF.

*****************************

FLPatriot59] TREAT AS RUMOR: July 16, 2013 @ 5.54 pm….should be live by the time banks close in Hawaii…delay was ISX integration…[Stage2Omega]–This is current as of today.

[FLPatriot59] Whcih, if you think about it, the ISX happened yesterday morning. If there was a glitch then they worked on it yesterday, tested it again today, and voila, we’re good to go. Purely speculation on my part!

Muscat: The Iraqi banking sector is set for significant earnings and asset growth over the next decade driven by a strong macro environment, increasing credit penetration and the improving security situation in the country, according to a new report on Iraq’s banking sector released by Sansar Capital Management.
With the International Monetary Fund (IMF) forecasting Iraq’s GDP to grow at a rate of 9 per cent in 2013, the banking sector in particular is expected to maintain steady growth over the next few years.
The Sansar Capital report points out that rising credit penetration is also expected to further fuel banking sector growth. The report cites a World Bank study which shows that Iraqi domestic credit to GDP stood at a mere 9 per cent of GDP at the end of 2011 as compared to a 55 per cent of GDP average for the Middle East and North Africa (Mena) region.
Domestic credit to GDP grew at a clip of 89 per cent Compound Annual Growth Rate (CAGR) between 2009-2011. Moreover, according to Central Bank of Iraq data, cash credit, such as loans and overdraft facilities, have grown at an impressive CAGR of 50 per cent from 2006-2011.
The detailed report analyses the Iraqi private banking sector through the perspective of five of the country’s largest private banks by deposit. The report reveals that buoyed by strong economic growth and rising credit penetration, these five banks saw their aggregate net income grow by 207 per cent between 2010-2012.
Dilution driven by increases in equity capital resulted in EPS growth to be lower.

 

7-15-13 Iraq Business News:  American-based private equity firm Carlyle Group is reported to be looking for opportunities in Northern Iraq.
A report from Dow Jones says the move comes as a result of a new $750m fund that the company hopes to raise to invest in the Middle East and North Africa.
The firm, which is expected to begin informal talks with investors after Ramadan, has been one of the few buyout firms to remain active in the region in recent years.

 

7-16-2013 Newshound Guru Tlar This lady is on the finance committee and is therefore most likely to be “in the know” after having just sat with Turki. This sentence…is very telling to me “Najib said that “previous administrative body of the Central Bank presented a study on the preparation of the project to delete zeros,” It indicates that to me Turki, is meeting with individual members of both the finance and the economic committees, selling the “scientific study” that was done in 2008 under Shabibi’s watch.
 

[millionday] ok here we go   this is very very important as it is the entry of iraq to the arab banking in a new way that is able to be done due to their release the effects are told here so lets read this together

[millionday] Met with Iraq’s participation the first after a hiatus of more than two decades in the Arab Banking Summit, which was held in Vienna recently welcomed internationally wide, and it was the arguments of Iraq’s great resonance among the participants in the summit, where he was raising the issue of good governance in light of economic and financial developments rapidly taking place the world.

Secretary General of the Union of Arab Banks and Sam Hassan Fattouh said in his speech at the conference: that Iraq’s contribution to the summit has achieved the goals and aspirations that we all aspire to elevate the Arab banking sector.

Read More Link On Right

  And we found in the research presented by the banking expert, Dr. Sadik Rashid Al Shammari treatments for the fundamental problems affecting the Arab banking sector in light of the developments taking place in the world economically and financially.

millionday] He added that the summit focused on the role of the Arab banking sector in building civil capacity and meet the challenges phase of post-conflict, also stood top at a detailed prospects for partnership between the public and private sectors to restore balance to the economy in the post-conflict and that explained the importance of building institutions capable of crisis management and move to Economic growth phase effective. In an interview the morning with economic d.

Sadiq Rashid Al Shammari after returning from the summit within the Iraqi delegation to the summit said: that of the summit witnessed the first Iraqi bank search for more than 20 years and received the attention of all the participants who discussed the mechanics of governance of banks in restoring balance to the Arab economies.

[millionday] He Shammari said: that the research has focused on the importance of the work of banks and financial institutions in order to restore the economic balance of economic sectors, and that governance is more necessary than to be an obligation imposed by regulators as a fantasy strategic her.,

And pointed out that governance without activating the principles and standards do not mean anything It thus becomes effort well spent where it should comply with standards of international banking, including capital adequacy standards and financial disclosure and transparency, the financial statements of banks and a strategic plan for the development of the technology used in the banking system,

according to the capabilities available and linking banks and the restructuring of the banking sector and improve mechanisms for internal and external oversight and methods of accounting in order to contribute to the development control methods and the promotion of transparency and disclosure.

millionday] note — in other words — all the paper plans in the world mean nothing without the activation of finance and economics   – he means stop with the planning and lets go already and make it count

[CaliDreamers] oh yea~~~~~~~~~~~~~~~~

[Sager] boom!

[millionday] He said the infrastructure development of the banking sector based on special programs for the training and development of senior leadership where in relation to Palmmazjh and linking the concept of governance and mechanisms through the establishment of training courses and development vehicle to raise awareness of accountants to the basic concepts of governance, managers and members of the Board of Directors in the capacity building of civil able to meet the challenges of post-conflict .

Here we must emphasize the importance of orientation strategic to the members of the Board of Directors and executive departments they have the right to formulate and success of the strategy the bank and its activation by moving away from the formal system aggravated bureaucracy at work and give the flexibility appropriate according to the method of work and thus contributing to the development of work and outstanding performance and meet the challenges in the environment external and internal.

millionday] in other words we need to move to action and answers ect and the application of the strategic plans and training and see it is action

[millionday] it also is very important for follow up for the training done so the accountants and other economic members have the correct answers according to the new system

[millionday] He stressed Shammari the importance of the use of quantitative methods and programs to learn how to use sources of banks and where lies the weaknesses and strengths to facilitate the investment of resources as required and through the use of technology and focus on training to develop the skills of workers in banks, so as to enhance civilian capacity in building the economies of advanced, as well as work on investing in profitable projects and short-range and long guarantees for banks liquidity necessary for the functioning actively work through the cash flow for these projects.

And that because of the rapid developments in the field of the banks it should study and continuous follow-up of international organizations and local and regional Basel Committee commitment Bmaaber and governance mechanisms issued by banks such organizations as an important step in regulating the banks and financial institutions.

[millionday] obviously he is referring to making sure they remain compliant with all international banking regulations since they have activated their banking reform and will also be activating much more of the services as this unfolds

[millionday] He Shammari need to growing interest in some financial indicators in order to not lose the confidence of the customer some private banks and try to go about existing resources have including investment cash is located has projects in low-risk and high short-term in order to be a role high revenue from these projects in order to fulfill its obligations to depositors .

[millionday] this next part is about the future of their advancements in banking and economy

[millionday] title >>>>>>>>>>>>>>>. The future of the international economy

[millionday] He stressed the importance of encouraging banks to offer new products and foreign currency using currency deposits mentioned available to them through the development of a future plan to achieve the merger between private sector banks to set up banking units large size can build advanced capabilities of the banking business domestically and internationally,

 through the adoption of a plan intensive to develop the performance of employees and members of the Board of Directors of the Bank through courses organized by the training centers depending on local expertise and the use of lecturers from abroad to keep abreast with what is happening in the world of economic developments and the serious financial and fast has profoundly affected the economies of many as I explained it casts a deep concern for the future the international economy in general,

and particularly the Arab economy after the global economy turned into a small village rival parties due to technical developments and informatics.

[millionday] note — obviously they are very concerned with joining the international community in the economic condition it is in and are referring to making sure that their economy expands and is not ruined or negatively effected by the condition

[millionday] last part of speech >>>>>>>>>>>>

[millionday] He concluded Shammari his speech by saying Based on the foregoing, the developments and changes and reflections on globalization effects and wide on the banking sector in the countries of the world, including the Arab countries,

especially regarding trends growing towards deregulation and the removal of obstacles legislative and regulatory prevent the expansion of these institutions in various activities especially in the global framework of the Convention on Trade in Services, which imposed a number of obligations on States in this regard.

millionday] so what this boils down to is that they are ready for its combination in the banking world and are learning and training to remain in the great condition they are in with all of their fresh training and also their huge training workshops buildings and international help —

millionday] they are expected to be a huge gain for the arab world economically and also are expected to make huge gains in the world entirely economically —

[millionday] iraq is referred to in many circles as the save all — so we shall see — obviously they missed the economic plunge so they have a chance of being just that and trust me many leaders are hoping for just that and have given much of their time — not so much for the new friend but the new opportunity

[millionday] smile   brb with more

[faith1] come on…”and the promotion of transparency and disclosure.” Disclosure,, come on out with it !! Whoo Hoo !!

[millionday] smile —    we know this is coming and very soon as we saw by the figures that we read last night concerning the cost of the activation and also the point of no return they are now in for their customs ect due to the incoming  [millionday] and outgoing as far as that goes

[millionday] Specialist called for the need to update teaching methods and tactics and the introduction of a new department or section in each institution called the building department mission to keep employees abreast on the latest management techniques in the world.

 He said legal expert Adil al-Lami “morning” should also activate the e-government project as well as project heal between universities, research centers and between institutions of the state, each according to its competence, pointing out that the legislative reform, especially the laws and economic legislation because it is the basis for progress and well-being of the Iraqi society.

[millionday] He stressed the need to examine ways in how to build Iraq on the basis of correct and which emphasize bring life to the private sector through a series of legislation that must be applied in practice on the ground as well as the need to implement the tariff law for the protection of national production and the need to follow the economic model and clearly would bring Iraqi economy Ahadath of rentier consumer stereotypes and private sector development.

[millionday] the legislation needs to be activated not formed or dreamed up or written ect — it needs to be activated and moved forward in schools — training and its form of reason    brb with more

[millionday] this is a huge step for iraq and is expected right now so this is great — also saleh speaking is not bad either — where has he been

[millionday] The presence of a credit rating of any country in the world better than the non-existence because it gives the degree adopted by the countries of the world to assess the country’s economy for the purpose of investment and economic activities and other business.

And saw the financial and banking expert d. The appearance of Mohammed Saleh, it is possible a credit rating of the country through bonds sold in global markets because the presence of credit rating, though low, is better than no rating mainly because there is no rating confirms that the country is a threat to all countries in the world.

And is rated the world’s credit ladder classification consists of 4 grades are A, B, C and D as well as variables that represent signal + or – and Petkrarat different. Saleh said in a statement to the (morning) that he must begin Iraq is now negotiating for the purpose Ranked credit.

[millionday] note — of course with it being stalled for so long we would expect low so no worries

[millionday] And launched the first round of the Conference of Finance and Commerce in June of last year, the presence of the representative of the U.S. Department of Commerce Cameron F. Kerry, in addition to economic circles in Iraq,

 it was agreed during which Iraq to encourage investors to come to Iraq and classification of credit to be able to give credit for foreign investors, as well as importance of Iraq that goes on in this category in order to give guarantees in investment opportunities and confidence to recover their capital.

IThe Fitch or Fitch classifies countries credit is an international institution recognized worldwide and is a subsidiary wholly owned by Hearst, which has in April 2012 to increase its stake in Fitch Group to 50 percent, which is one of three companies rated a major addition to Standard & Poor’s and Moody’s, the company has been founded by John Knowles Fitch in late 1913 in New York City as the Fitch Publishing, merged with IBCA Co., Ltd. is based in London in December 1997.

PART 2 CONTINUED

ERBIL, Kurdistan Region – The president of Iraqi Kurdistan, Massoud Barzani, is expected to accept a controversial ruling by the autonomous region’s parliament to extend his presidency by two years and is likely to announce his decision this week, a senior leader of his coalition said.
“He has agreed not to reject parliament’s decision,” said the source, a senior leader of the Patriotic Union of Kurdistan (PUK), which together with Barzani’s Kurdistan Democratic Party (KDP) is a ruling partner in the Kurdistan Regional Government.
Speaking on condition of anonymity, he said that Barzani had confessed in a meeting that accepting the controversial extension “isn’t going to be easy for him. ”
On June 30, based on a top-level agreement between the two parties, the Kurdish parliament decided in a majority vote to extend Barzani’s presidency until 2015.
Tariq Jawhar, an advisor to Kurdistan’s parliament speaker, said the law stipulates that the president has to read and decide on parliamentary decisions within 15 days. He added that the countdown began when parliament sent the decision to the presidency on July 2, three days after it was passed.
PUK and KDP leaders argue that extending Barzani’s presidency was important at this stage, when there is no consensus among political parties about the constitution and the mechanism of the next general elections.
The majority of MPs and some PUK and KDP leaders believe that if Barzani fails to make an announcement by the 15-day deadline, the parliamentary decree will come into effect and be considered final.
But opposition parties, which had immediately declared parliament’s move “illegal and undemocratic,” still hope that Barzani will reject the decision and return it to legislature.
“We hope that Massoud Barzani, who is one of our national figures, does not place himself in this political dispute,” Hiwa Mirza, a senior member of the Islamic Union, told Rudaw.
He added that three opposition groups, the Islamic Union, the Islamic League (Komal) and the Change Movement (Gorran) are expected to meet and decide on their next course of action in case Barzani does accept the extension.

 

Baghdad/ NINA/–Sales of dollar by the Central Bank of Iraq CBI and purchases of other foreign currencies showed declined on Tuesday auction to 268 million and 659 thousand dollars, after hitting on yesterday auction the level of 356 million and 882 thousand dollars, with a stable exchange rate of 1166 dinars per dollar.

The daily bulletin issued by the Central Bank, said : “The demand for dollar was ranging on today’s auction around the level of 64 million and 300 thousand dollars sold in cash ./End

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