Millionday News 7/17/15 Part 2 of 2
Welcome to dinarupdates.com for News Time with Millionday!!
Millionday: I WANT TO SHOW YOU SOME REPORTS AS I TOLD YOU AT THE BEGINNING OF NEWSTIME
Millionday: Crush Expected When Kuwaiti Banks Reopen Today
March 24, 1991|From Reuters
KUWAIT CITY, Kuwait — Thousands of Kuwaitis are expected to jam the country's banks today when they open for the first time since the end of the Iraqi occupation.
Customers will be allowed to withdraw funds and to swap pre-invasion money for a new currency issued to make more than $1 billion in pre-invasion dinars stolen by the Iraqis worthless.
"We expect a rush of people," said Issam Asousi, an executive with the Bank of Kuwait. He said it could be a chaotic first week because customers have a lot of questions about their accounts.
Millionday: NOTE -- THIS IS AN REPORT ON OUR NEWS FORUM -- AND OBVIOUSLY DATED 91
Millionday: Kuwaiti banks continued operating during the seven-month Iraqi occupation under managers brought in from Iraq, but they have been closed since the U.S.-led alliance ousted the Iraqi army from Kuwait a month ago.
When the banks reopen today, customers will be able to withdraw up to 4,000 Kuwaiti dinars, equivalent to about $14,000 at pre-invasion exchange rates from their accounts, and to exchange a like amount for foreign currency.
Balances of customers' accounts will go back to what they were on Aug. 1, a day before the invasion.
Millionday: NOTE -- OBVIOUSLY I AM SHOWING YOU THE INK DUE TO MY OWN INTEREST IN IT AS WELL --
Millionday: Clients will not be able to exchange Iraqi currency issued during the occupation, when Baghdad pegged the rates of the strong Kuwaiti dinar to the far less valuable Iraqi dinar.
The new Kuwaiti money will be exchanged for old at a one-to-one rate.....THANK YOU WMAWHITE FOR THE GREAT POST
Millionday: SO OBVIOUSLY VERY INTERESTING ---
BGG: WMAWhite dug that up for us... "The facts surrounding the Kuwaiti scenario"
BGG: we use it as a lead-in to the Iraq News Thread - to provide background perspective BASED ON FACT.
Millionday: LETS REMEMBER WHAT PEAKED OUR INTEREST IN THESE NEXT REPORTS THEY ARE TALKING ABOUT PLANS AND COMPLETED LAWS
guppy: Do you think Iran and Iraq will RV at the same time?
Millionday: NO I DONT
Millionday: I THINK THAT THE PROMOTION OF IRAQ IS IMPORTANT DUE TO THE SHIFT THIS WILL ALLOW IN THE REGION
BGG: because Reuters picked up a feed yesterday by the Iranian CBI saying they would not change the value of their currency based solely on this Nuclear Deal - (and the 100 bil in frozen assets recovered).
BGG: they may - but not over that.
Millionday: NOTE -- THIS CAME OUT NOT LONG AGO
Millionday: Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.
She said in her statement Albjara "The project will take between four and five years, and which will be the launch of the categories of small coins gradually."
Millionday: NOTE -- I WILL ADD TO THIS THAT SINCE THIS REPORT HAS COME OUT THEY HAVE ANNOUNCED THEIR PREPARATION COMPLETE AGAIN AND THE PARLIAMENT ENDORCED THE ISSUANCE OF THE NEW CURRENCY AS WELL IN PRESS STATEMENT
Millionday: He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.
The economic expert on behalf of Jamil Anton, noted that he may not find metal coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century
Millionday: SO AS WE KNOW THE REPORT CONCERNING THE RELEASE OF THE NEW BILLS BEING ENDORCED ALSO WENT ON TO SAY THE IMPACT WILL BE THE REDUCTION OF THIS LARGE CURRENCY BLOCK MENTIONED HERE ---AMONG OTHER THINGS
Millionday: NOTE -- NICE FLASH BACK REPORT
Millionday: THIS IS THE IRANIAN REPORT ON BANKING
Millionday: A source in the Iraqi Central Bank, on Friday, for a decision by the central bank to stop dealing with Bank Melli Iran branch in Iraq, and denied that the decision is linked to Iran's nuclear agreement with the majority of the six countries, stressed that the decision came after the receipt of the bank's name in the list of prohibitions International.
Millionday: NOTE -- DENYING THE CONNECTION WITH THE NUCLEAR AGREEMENT
Millionday: The source said in an interview with the (long-Presse), "The bank's board directed its departments, including the banking and credit Directorate and Auction currency not to deal with Bank Melli Iran after his name was mentioned in the list of the international embargo."
Millionday: NOTE -- A DO NOT DEAL WITH ORDER FOR BANK MELLI IRAN
Millionday: NOTE -- HERE IS HOW LARGE THIS IS -- READ EVERY WORD AND THINK ABOUT THE SIZABLE IMPACT
Millionday: He denied the source, who asked not to be named, said: "the decision of Iran's relationship agreement with the majority agreement of the six countries on the nuclear issue, although he came in sync with him," stressing that "the Iraqi Central Bank Foundation is committed to international laws and issued them."
The age of the founding of Bank Melli Iran more than 86 years and has branches in 3169 within the Republic of Iran and 16 branches abroad.
Millionday: WOW -----
Jonhenry: what does international embargo exactly mean
Jonhenry: as it would with banks
Millionday: IT RESTRICTS TRADE WITH THE COUNTRY IN ALL ASPECTS
Jonhenry: different than sanctions?
Millionday: An embargo will restrict all trade with a country, or aim to reduce the exchange of specific goods. For example, a strategic embargo prevents the exchange of any military goods with a country. A trade embargo will restrict anyone from exporting to the target nation.
Millionday: AS PART OF SANCTIONS
Millionday: THIS REPORT IS FROM BGG IN OUR NEWS IN THE FORUMS -- WHOOPOW
Millionday: WHOOPOW TO OUR BGG
Millionday: The Central Bank of Iraq (CBI) has been attempting to delete three zeros from the Iraqi currency since 2003. This project has raised many concerns among the Iraqi public and within the business community, and Iraqi economists are divided…
…Haider al-Abadi, the head of the Iraqi parliamentary Finance Committee, told Al-Monitor that while deleting zeros from the current currency is possible, this has been postponed until after parliamentary elections.
He noted that studies are being carried out to ensure that, following the currency change, counterfeiting is limited and that Iraqis don’t go back to trading in the old currency.
Millionday: NOTE -- COMING UP WITH THE GOOD PART
Millionday: The step to delete zeros from the currency has been postponed several times, leading the parliamentary Economic Committee to demand that the CBI accelerate this project, as Al-Sharqiya reported.
In a news conference held July 6, the Economic Committee confirmed that the deletion of zeros will lead to an increase in the value of the Iraqi dinar and will have positive repercussions, including a reduction in unemployment and poverty rates in the country.
Millionday: NOTE -- NOW LETS LOOK AT THIS -- PARLIAMENT IS DEMANDING THAT THE REMOVAL OF THE THREE ZERO "PROJECT" BE ACCELERATED AND THEY ALSO ARE CONFIRMING THE RAISE IN VALUE ---WHOOPOW -- LOVE INK
tubbyone: Be accelerated from when, 2003?
Millionday: THAT WAS BACK AT ELECTIONS
cookie: This is saying after parliamentary elections? When are they? And do you think they will wait that long? Is this an old article? Sorry so many
Millionday: THIS WAS A FLASHBACK WE ARE LOOKING AT -- ----PAST ELECTIONS FOR THIS GOVERNMENT LEADER