wmawhite Article quote: "The central bank issued a circular to all banks dealing with foreign remittances only in Iraqi dinars to keep hard currency and to support the Iraqi dinar exchange rate."
These are foreign remittances...these are bills from foreign customers...IMO. Presently those bills are paid with USD.
The way this article reads these are not local citizens, but foreign customers.
This is significant IMO because the banks are being told to pay their foreign bills with IQD...not with the USD.
Could be very good news.
Millionday Article quote: "Mohammed Saleh Economic Adviser to the Prime Minister Haider al-Abadi, Thursday, news of the issuance of mainstream banks to deal with the citizen dinar currency only, while noting that the central bank issued a circular on foreign remittances that are dealt in Iraqi dinars."
HUGE NEWS -- INSTRUCTIONS HAVE BEEN GIVEN TO CITIZENS ON THE REMITTANCE SYSTEM AND ITS CHANGES IMPACTED ON THE IRAQI CURRENCY -- THE DINAR.
THE REGULATIONS PUT IN PLACE SOME TIME AGO HAVE BEEN CHANGED TO CURRENT PRACTICE AND ISSUED TO IRAQI BANKS ACROSS THE NATION –
HUGE STEP IN BANKING REFORM AND OF COURSE THEIR ECONOMIC REFORM.
Q: [LOOKS LIKE THEY ARE MOVING TO AN EXCHANGE RATE OR AM I READING WRONG? DIFFERENT THAN 1166!]
Millionday: THEY HAVE STATED IN ORDERS THAT THIS MOVE IS TO SUPPORT THE IRAQI DINAR EXCHANGE RATE.
THEY WILL BE ABLE TO WITHDRAW ONLY DINAR IF THEY PUT US DOLLAR THEY HAD -- ONLY DINARS WILL BE GIVEN BY THE BANKS FROM BANKING ACCOUNTS.
THE RATE THAT THEY WILL BE USING WAS NOT RELEASED -- JUST THE ACTIVATION OF THE REGULATION THAT SHOULD BE IN PLACE ANYWAY –
BUT NOW IT IS FORMAL BANKING SERVICE...
ALL PURCHASES AND DEALINGS OF ANY KIND ARE ALL STRICTLY IN IRAQI DINAR
HUGE STEP FORWARD.
Topic: Make the most of yourself, for that is all there is of you. Ralph Waldo Emerson
Iko Ward : So guys, its going to be real quiet this weekend. Dont get sucked in by the nellies. Think of them as children who need yoyr protection. Too much real movement out there.
Totally Blessed: Wouldn't it make sense that the PTB or the brokers or someone would want sales to end for a little while before the new rates become public? Seems like it could get confusing if in a split second of someone making a purchase the rates changed dramatically.
Mangelo: I wondering if Abadi is waiting for all the promises that where promised to him are delivered before he presses the royal button?
Fox: mangelo i couldnt blame Abadi if he did ...
Fox: Remember ... Abadi came out of the Meeting in PARIS with a Thumbs UP
[xyz] Washington starts delivering Iraq with armaments http://en.alforatnews.com/modules/news/article.php?storyid=19515
[xyz] Iraq Financial Market Exchange: announces more than 76 billion shares worth 57 billion dinars in May https://translate.google.com/translate?sl=ar&tl=en&u=http://www.imn.iq/news/view.68534/
[LAS] On 7-8 (Sunday and Monday) June 2015, Germany will host the meeting of the G7 heads of state and government. The summit will focus on the global economy as well as on key issues regarding foreign, security and development policy.G7 summit, Schloss Elmau, Germany, 07-08/06/2015.
The Group of 7 (G7) is a group consisting of the finance ministers and central bank governors of seven major advanced economies as reported by the International Monetary Fund: Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States meeting to discuss primarily economic issues.
Yesterday on CNN it said that Abadi will meet with Obama on Monday.
[EvangeeGT] Hopefully the RV is done by Monday!
[LAS] EvangeeGT I am thinking the same.
Desire: Thanks Walkingstick for all you do! I love the last sentence of this article, Global!
walkongstick : Iraq issued a smart card to the staff of the Directorate of Education Maysan
Rafidain Bank Baghdad on Saturday, the smart card issued to the staff of the Directorate-General for Education Maysan province.
Information Office of the Bank said in a statement received "eye Iraq News" that "by 1000, and issued a smart card to breeding Maysan staff and their salaries will be delivered through this service instead of manual cash."
The statement said that "the bank has received many requests for the issuance of the card to the staff of departments and institutions of the state and he is ready to meet them and provide this service and with ease."
The Rafidain Bank announced on 11 of the month of April for a plan for the adoption of the smart card in the mechanism of distribution of salaries of employees in departments and state institutions all cash instead of manual method.
The Information Office of the Bank said in a statement that "this method reduces the importance of cash trading and money to maintain the form in which it allows to be traded at any time and any place."
He added that "there is coordination and cooperation between the bank and the company's global smart card to issue a card for the majority of state institutions" ./ ended 7