[21:28:26] TRC: CBI governor was busy yapping
[21:29:49] design: whats the latest news?
[21:30:07] TRC: CBI governor said.. no currency float, like other countries
[21:30:24] Tf sent an audio message: Drumroll
[21:30:31] AMG sent an audio message: Are you sure?
[21:30:43] design: 🙂
[21:31:03] TRC: will be set rate for now.. and money laundering laws being enforced and trained
[21:31:36] TRC: goal is to get rid of USD in iraqi markets, decreasing demand for it
[21:31:46] Tf sent an audio message: Drumroll
[21:31:53] AMG sent an audio message: Oh Boy!
[21:32:04] TRC: best way to do that is to increase the dinar value
[21:32:14] design sent an audio message: Drumroll
[21:32:15] Tf sent an audio message: Drumroll
[21:32:23] TRC: whether it be set rate or float..
[21:32:59] AMG: set rate then float to $3+
[21:33:09] TRC: UN will start electronic tender for Iraq May 1st
[21:33:58] AMG: ^.^
[21:34:15] TRC: an iraqi was named the second highest position at UN
[21:34:42] TRC: deputy to secretary general,
[21:34:58] AMG sent an audio message: Drumroll
[21:34:58] TRC: first time in iraqi history
[21:35:24] AMG: their status is rising
[21:35:25] design sent an audio message: Drumroll
[21:35:27] TRC: Director of ESCWA
[21:35:47] TRC: which is middle east region
[21:36:17] TRC: western asia
[21:36:51] TRC: very high status position
[21:39:06] TRC: iraqi airways will start using visa to book flights at all its offices globally
[21:39:26] TRC: offices are still limited
[21:39:28] AMG sent an audio message: Drumroll
[21:39:45] design sent an audio message: Drumroll
[21:39:50] TRC: as it is still getting approvals to fly in various places
[21:40:23] TRC: supposed to start flights soon, to Venice,
[21:40:36] TRC: and other european cities
[21:41:22] TRC: Iraq and Kuwait are going to integrate their economies
[21:41:33] TRC: to become one
[21:42:02] AMG: sweet
[21:42:07] TRC: will be in depth meetings and various committees formed with each participating
[21:42:14] design: cool
[21:42:34] TRC: similar to what is happening with Jordan
[21:42:52] TRC: Jordan-Kuwait-Iraq
[21:43:20] TRC: coincidence they all use the dinar
[21:43:24] TRC sent an audio message: Drumroll
[21:43:33] design sent an audio message: Drumroll
[21:43:36] AMG sent an audio message: Oh Boy!
[21:44:11] AMG: the dinar brothers
[21:44:21] design sent an audio message: Oh Boy!
[21:44:28] Tf: that speaks volumes
[21:44:39] TRC: was reading on Mosul it is almost over… military are waiting for final command to storm mosque.. then it will be over..
[21:44:56] Tf: shared oil….shared currency….
[21:45:14] Tf: that is good news
[21:45:19] AMG sent an audio message: Yahoo!
[21:45:23] TRC: they are trying to preserve as many lives as possible
[21:48:19] TRC: Allaq in the workshop of anti – money laundering held Babylon Hotel in central Baghdad and attended by Economy News, the great mobility is happening today in the banking sector to develop its employees on important banking issues such as anti – money laundering and risk management, adding that the exercises that are happening now in a very large evolved and its goal expand the circle of culture
[21:48:24] TRC: knowledge of the banking employee
[21:48:50] TRC: Iraqi banking sector in significant progress in its activities and has become focused on it locally and internationally, pointing out that the central bank is working to build a sound information base through the use of information technology.
[21:49:37] TRC: private banks association it is currently working on the development of the relationship with foreign banks in addition to the use of the world ‘s best technology and the application of international standards.
[21:49:37] AMG: 😉
[21:50:33] TRC: Iraqi delegation headed by the Minister of Finance Abdul Razzaq al- Issa will go to the American city of Washington this week to discuss the readiness of credit signed by Iraq in the general agreement in 2015, noting that the delegation will begin its meetings with the International Monetary Fund and the World Bank on Friday, the next day on April 21st and lasts for three days.
[21:51:07] TRC: the delegation and the Minister of Finance Abdul Razzaq al- Issa, Central Bank Governor Ali Allaq and Financial Advisor to the Prime Minister Mohammed Saleh, officials from the Ministry of Finance, the Ministry of Oil, the Ministry of Planning, Oil Marketing Company SOMO, the Central Bureau of Statistics, the Central Bank of Iraq, representatives the Kurdistan Regional Government,
[21:51:20] TRC: Office of financial supervision
[21:52:21] TRC: CBI governor stopping selling through a currencies window in the Bank would lead to the collapse of the Iraqi dinar financial situation in Iraq generally, stressing that the Central Bank is obliged to do the job
[21:52:54] TRC: cancelling dollar sale window, price change to 3 and 4 thousand dinars, and maybe more
[21:52:59] Tf sent an audio message: Drumroll
[21:53:11] AMG: oh
[21:53:27] Tf sent an audio message: Drumroll
[21:53:34] TRC: The prospects for Iraqi dinar to float, like other countries in the region, this relationship does not arise in the present, we are working on is not currency float, and the big difference between the two
[21:54:08] TRC: He noted that the solution in Iraq lies in dollar demand reduction through structural correction of the Iraqi economy, not through refraining from selling the dollar.
[21:55:11] TRC: He added that “the issue is receiving local and international attention and we are working on building sound rules by adopting international standards that regulate financial work and constitute immunity to the banking sector and prevent money laundering.”
[21:55:38] TRC: “It is important for local and international efforts to work together and coordinate work mechanisms to achieve the objectives that prevent such practices from taking place in different economies,” he said.
[21:58:11] TRC: to link with global financial system in all ways, they need to enforce international money laundering laws
[21:58:57] TRC: that is what has been happening over last few months training iraqi banking employees
[21:59:31] TRC: plus learning new modern electronic systems
[21:59:40] When is RV?
[21:59:40] Do we have date and rate
[21:59:49] TRC: they have trained 600+ thus far
[22:00:17] design sent an audio message: Drumroll
[22:00:21] TRC: making a sound financial system
[22:00:43] TRC: a base to grow economy
[22:01:14] TRC: with international investment, for free market economy
[22:01:37] TRC: ISX internet brokers still not launched
[22:02:27] TRC: delay
[22:02:52] TRC: was supposed to be launched in first quarter
[22:03:03] TRC: with electronic dinar
[22:03:42] design: hmmm
[22:04:39] TRC: according to CBI director of issuing currency, he said the technical process to delete the zeros is under way.. was posted last week.. but delayed due to Mosul
[22:06:23] TRC: he said all provinces need to be secure to move to next step
[22:06:37] TRC: and that’s all I got
[19:39:52] TRC: lots of promising news
[19:40:25] design: promising….. good deal
[19:41:10] TRC: end of Chapter 7 in entirety
[19:41:24] design: cool
[19:41:42] design: then … bingo!
[19:41:47] TRC: Iraq gets 50+ billion
[19:42:24] design: explain please
[19:42:37] TRC: frozen funds
[19:42:42] TRC: since 1990
[19:42:49] design: oh…. ok
[19:43:15] TRC: Iraq will regain its status previously held
[19:43:24] TRC: in all aspects
[19:43:33] design: financially too?
[19:44:05] TRC: yes
[19:44:41] design: that is some great news
[19:45:44] design: maybe go back to prior value?
[19:46:30] TRC: 😛
[19:46:48] design sent an audio message: Drumroll
[19:47:26] design: all adding up….
[19:48:06] design: I had 2 people tell me today we could be rich very quickly
[19:48:27] design: in a round about way…lol
[19:48:56] design: my brother in law and teledive
[19:49:37] TRC: I really like dinar article
[19:49:53] TRC: 11 billion dinar printed
[19:50:16] design: ok
[19:50:39] design: could that already be a converted amount?
[19:50:53] TRC: we used to calculate what kind of exchange rate was possible
[19:51:22] TRC: using amounts of currency printed
[19:51:32] design: right
[19:51:53] design: kind of what brother in law was saying
[19:52:24] TRC: was always arguing.. how can they come out at 3 dollars with 30 trillion dinar printed
[19:53:22] design: right
[19:53:38] TRC: only 11 billion
[19:53:44] TRC: big difference
[19:53:48] design: yes
[19:54:57] design: difference between in country and out values?
[19:56:18] TRC: CBI director in charge of currency release, said 11 billion dinar currently printed in circulation
[19:56:29] TRC: from what I could read
[19:57:27] design: ok… wow
[19:57:58] TRC: that is far cry from 30 trillion
[19:59:14] design: yes it is
[19:59:19] When is RV?
[19:59:19] Do we have date and rate
[20:02:02] TRC: there is supposed to be 4 billion banknotes in circulation, CBI wants to drop that to 1 billion, working with deleting the zeros
[20:02:42] design: quite a drop
[20:03:31] TRC: without the zeros they do not need many banknotes
[20:03:48] TRC: worth a dollar or more per dinar
[20:04:59] TRC: higher the value the least number of banknotes needed
[20:05:28] design sent an audio message: Drumroll
[20:05:49] TRC: will add coins
[20:06:03] design: makes a lot of sense
[20:06:42] design: what was the value prior to chapter 7
[20:07:22] TRC: 3 dollars
[20:08:17] design: well I guess that’s dreaming…lol
[20:10:58] TRC: :*-/
[20:11:17] design: 🙂
[20:14:08] design: when Chapter 7 ends, in 2 months or so, maybe will be like a switch flipped… be over….lol
[20:15:42] TRC: 🙂
[20:17:15] TRC: well we thought chapter 7 was done along time ago
[20:29:30] design: we sure did
[20:30:20] TRC: but the currency remained under it
[20:33:29] design: never thought that
[20:53:03] AMG: What’s the rate and date??
[20:53:09] AMG sent an audio message: Drumroll
[20:54:00] AMG: saw ale posted a comment
[20:54:13] TRC: big news there
[20:54:42] AMG: note count
[20:54:44] TRC: CBI director of release of banknotes said 11 billion dinar printed
[20:54:59] TRC: 11.6
[20:55:26] AMG: various denoms
[20:55:42] AMG: ?
[20:55:47] TRC: is that shocking to you
[20:56:14] AMG: not sure, gotta read again
[20:56:33] TRC: well many of us thought there was 30 trillion
[20:57:13] AMG: I never was sure about numbers
[20:58:58] TRC: olden days in dinar chat we calculated possible rates with 30 trillion
[20:59:21] When is RV?
[20:59:21] Do we have date and rate
[20:59:47] TRC: only 11 billion.. possible rates jump dramatically
[21:00:00] AMG: for real
[21:01:49] TRC: and chapter 7 lifted in enterity within two months
[21:02:15] AMG: sounds promising
[21:02:23] TRC: Iraq will get 50+ billion in frozen funds
[21:03:44] TRC: Iraq will return to it’s status previously held in 1990
[21:07:16] design: 🙂
[21:07:41] AMG: ^.^
[21:08:33] AMG: wants to get excited……………but :whistle:
[21:12:25] TRC: must also change the financial and statistical records in order to conform with the process the deletion of zeros. On the other hand, the technical preparations are underway by us.
[21:12:50] TRC: CBI director of releasing currency
[22:00:29] TRC: getting closer
[22:00:49] TRC: chapter 7 done within two months
[22:03:36] TRC: for real this time
[19:45:13] design: 2 weeks Iraq done with chapt 7 ?
[19:45:41] design: currency wont be artificial any longer
[19:46:19] TRC: said in next 2 months
[19:46:21] AMG: Abadi > 2 months > chapter VII > ???
[19:46:39] TRC: UN agreed to remove remnants of chapter 7
[19:46:51] design: great news!
[19:47:10] TRC: which means IQD should be back on list of currencies
[19:47:20] design sent an audio message: Oh Boy!
[19:47:50] TRC: not a date and rate but there is a window hopefully to look at
[19:48:34] design: should be worth something when that happens
[19:48:53] TRC: artificial rate should be removed
[19:49:03] TRC: aka delete the zeros
[19:49:26] design sent an audio message: Oh Boy!
[19:50:02] TRC: these things move slowly, April or May?
[19:50:18] design: right
[19:51:01] design: set rate at a buck maybe
[19:53:58] TRC: definitely will be nothing holding it back
[19:54:05] TRC: 🙂
[19:56:55] design: 🙂
[19:56:59] design sent an audio message: Oh Boy!
[19:57:36] TRC: only took 14 years
[19:57:49] design sent an audio message: Laugh
[19:58:47] TRC: if you would have invested in bitcoin a few thousand you would be a millionaire
[19:58:56] TRC: in 14 years
[20:00:01] design: yep
[20:00:04] When is RV?
[20:00:04] Do we have date and rate
[20:02:40] TRC: I am not sure on the politics at UN
[20:02:53] design: ok
[20:03:09] TRC: how they agreed to remove remaining sanctions or what they are
[20:03:42] TRC: I thought vote of security council did it
[20:04:25] TRC: but .. have been in part as long as Iraq completed certain things
[20:04:57] design: right
[20:05:01] TRC: but things move very slowly ..
[20:05:32] TRC: FATF removed iraqi banking from black list last December
[20:05:58] TRC: UN must do their own thing..
[20:06:35] TRC: IMF spring meetings start in few weeks
[20:07:00] TRC sent an audio message: Drumroll
[20:08:33] design sent an audio message: Drumroll
[20:09:28] TRC: it took FATF a few months to do their thing after money laundering law was passed and activated
[20:10:07] TRC: every step seems to take a few months
[20:11:21] design: maybe 2-3 weeks this time
[20:12:07] design: u can tell Abadi is pushing this
[20:37:38] TRC: it is over in 2 months or less
[20:38:01] AMG: really hopes he’s right
[20:38:07] design sent an audio message: Oh Boy!
[20:38:21] TRC: agreement was made with UN secretary general
[20:38:37] AMG: just in time for summer?
[20:38:38] TRC: I do not think it requires a vote.
[20:38:57] TRC: who would vote against anyways
[20:39:05] TRC: ISIS?
[20:39:18] TRC: oh wait they do not have a seat
[20:42:23] AMG: interesting times ahead…
[20:42:26] AMG sent an audio message: Drumroll
[20:42:44] AMG: …one way or another
[20:43:58] design: 🙂
[20:46:35] TRC: this finishing up of chapter 7, will affect the currency
[20:19:57] AMG: “documentary credits”, “electronic payments”……………..AMG likes ^.^
[20:20:41] TRC: to international customers
[20:20:50] AMG: sweeet
[20:20:51] TRC: yes
[20:21:16] TRC: Rasheed Bank is government bank but is transitioning to private
[20:22:18] design: 🙂
[20:22:56] TRC: Trade Bank of Iraq is negotiating with foreign bank to link too
[20:23:56] AMG: read your post in rumors: who is that “jaxjags” person?…..hmm
[20:24:04] AMG: k
[20:24:12] TRC: oh
[20:24:25] TRC: what he is saying is accurate
[20:24:43] AMG sent an audio message: Are you sure?
[20:24:44] TRC: just thought would share it
[20:24:55] AMG: thanks
[20:24:56] TRC: yes
[20:25:10] TRC: IQD rate posted is not real value
[20:25:25] TRC: it is chapter 7 rate
[20:25:27] AMG: yup
[20:25:49] TRC: the rumor post just said it differently
[20:26:34] AMG: ahh
[20:28:12] TRC: I think it is true post
[20:28:39] TRC: The Iraqi Trade Bank “TBI”, transferred 50% of its profits for the year 2016 equivalent to 268 billion Iraqi dinars, to the State Treasury.
[20:29:10] TRC: according to the directives of Prime Minister Haider Abadi, the Iraqi Bank of Trade “TBI,” transferred 50% of its profits for the year 2016, equivalent to 268 billion Iraqi dinars to the Treasury Of the State.
[20:29:34] TRC: He added that the bank achieved a net profit of 536 billion Iraqi dinars for the fiscal year ended 31/12/2016, an increase of 265% from the net profit achieved in the financial year ended 31/2/2015, which was 145 billion Iraqi dinars.
[20:29:49] AMG: wow
[20:29:55] TRC: The Iraqi Trade Bank is working to promote banking services through the settlement of salaries and encourage electronic payment in addition to the introduction of new products, including a certificate of deposit worthy.
[20:30:24] TRC: It is worth mentioning that the Iraqi Bank for Trade implemented the first syndicated loan in Iraq for the Ministry of Electricity in cooperation with Standard Chartered and General Electric
[20:30:44] TRC: currently in cooperation with Doha Bank, managing the issuance of international documents for Iraq
[20:32:41] TRC: Doha bank is in Qatar
[20:33:22] TRC: so Qatar is linking it’s banks to iraqi banks
[20:34:33] design: cool
[20:35:05] AMG: nice
[20:35:07] TRC: Iraq does not have an official peg
[20:35:42] TRC: that is why IQD is not convertible on forex to anything except USD
[20:36:19] TRC: The current value is not official and it does not reflect the true value of the IQD
[20:36:39] TRC: The current buy/sell value is based upon an agreement between the CBI and GOI
[20:37:35] TRC: Kushner is in Iraq
[20:37:43] TRC: met with Abadi
[20:37:46] TRC sent an audio message: Drumroll
[21:01:56] AMG: what?
[21:02:21] TRC: Trump’s adviser
[21:14:21] AMG: Trump’s son-in-law too
[21:14:52] TRC: yes
[21:15:12] TRC: not sure what about
[21:15:17] TRC: :whistle:
[21:22:08] TRC: Trump has been in contact with Abadi almost daily
[21:26:36] AMG: :whistle:
[21:29:38] TRC: called Abadi on Saturday
[19:19:07] TRC: stock market is really optimistic
[19:19:22] TRC: continues rocketing north
[19:19:35] design: yes
[19:21:15] design: couple interesting posts
[19:22:10] TRC: which
[19:22:58] design: support the dinar and strengthening purchasing power
[19:24:11] design: delay of budget law?
[19:24:53] TRC: yep, for some reason it has not yet been posted in iraqi law gazette
[19:25:23] design: hmmm ok
[19:25:32] TRC: political reason?
[19:25:45] TRC: or economic..
[19:26:14] design: don’t know…
[19:26:52] TRC: holidays are over
[19:27:02] TRC: so this should be resolved
[19:27:25] design: right, hope so
[19:31:03] design: CBI saying several days ago “central bank not devoted to change exchange rate against US dollar?
[19:31:15] TRC: lol
[19:31:28] TRC: what do you think they meant
[19:31:28] design: more hogwash
[19:31:56] TRC: some say it means they will not devalue the dinar
[19:32:26] design: yeah.. maybe
[19:33:01] TRC: many iraqis are worried about a weaker dinar
[19:33:05] TRC: lol
[19:33:19] TRC: remember they are talking to iraqi’s
[19:33:25] design: if they only knew.. lol
[19:33:39] design: that’s right
[19:33:48] design: have to remember that
[19:34:45] TRC: postal bank is interesting too
[19:35:18] TRC: they can take their dinars and transfer to any country converting to any currency
[19:35:44] TRC: in minutes
[19:35:47] design: yes…. amazing
[19:37:38] TRC: they have Western Union over there but I think they only use USD
[19:44:54] AMG: it’s 2-0-1-7
[19:45:01] AMG sent an audio message: Yahoo!
[19:45:31] TRC: yep
[19:45:40] TRC: last year waiting
[19:46:12] Tf: did you read the article about the UN keeping Iraq in Chapter 7?
[19:46:16] AMG: another year of hope………………is upon us
[19:46:27] TRC: no
[19:46:58] AMG: no
[19:47:16] Tf: did you read the article that they will take another three months to liberate Mosul?
[19:47:27] AMG: will this (finally) be our year???????????????????
[19:47:40] Tf: I sure hope so, AMG
[19:48:28] TRC: that was somebody’s opinion
[19:49:12] TRC: iraqi forces killed between 3-500 daash in last few days
[19:49:31] TRC: took three more neighborhoods in Mosul
[19:50:30] TRC: its one block at a time
[19:51:22] TRC: they are fighting day n nite
[19:51:31] TRC: advancing every day
[19:51:38] AMG: yup, a tedious and dangerous undertaking they have ahead
[19:52:11] TRC: I do not think iraqi army fought like that against US army
[19:52:41] TRC: they surrendered in droves
[19:53:15] TRC: daash is fighting like hitler youth and the japanese
[19:53:42] TRC: but they are crazy as hell
[19:55:03] AMG: for sure
[19:55:48] TRC: that’s one of the reasons iraqi army fled
[19:55:54] TRC: in 2014
[19:56:11] TRC: crazy animals were feared
[19:56:52] TRC: saddam was feared that’s how he earned respect etc.
[19:57:25] TRC: the law in middle east be feared
[19:59:18] TRC: but iraqi army is no longer an amateur group, they have created their own heros and know they are capable now to defeat an enemy moreso every day
[19:59:34] When is RV?
[19:59:34] Do we have date and rate
[20:01:23] TRC: Abadi said recently Iraq is more united than maybe ever in history
[20:01:39] TRC: thanks to daash
[20:02:47] AMG: …the common enemy
[20:06:30] TRC: ISX has went up over 50 points in last few months
[20:06:44] AMG: ^.^
[20:07:11] TRC: in percentage that is nice return if you invested the ISX60 index
[20:08:33] TRC: I think it will hit 1000 this year
[20:09:07] TRC: that is about 40% increase
[20:09:33] TRC: so if invested you will get 140% back
[20:09:53] TRC: in the ISX60 index
[20:10:26] TRC: individual stocks of course could make alot more
[20:10:45] TRC: if you know what to buy
[20:24:33] TRC: “the general budget law of the current fiscal year is still in the corridors of the Finance Committee is awaiting administrative orders of the Presidency of the Council of Representatives for transmission to the President of the Republic Fuad Masum, the aim sincere in its publication in the Official Gazette.”
[20:39:19] TRC: a lildelay
[20:40:22] TRC: it is a good thing that we did not see anything today
[20:40:32] TRC: just saying
[20:41:27] TRC: any change on first day of fiscal year is certainly a lop
[20:47:12] TRC: Adopting resolution 1958 (2010) on oil-for-food by a vote of 14 in favour to none against, with one abstention (France), the Council authorized the Secretary-General to establish an escrow account to ensure that $20 million of the Iraq Account was retained until 31 December 2016
[20:47:54] TRC: The Council also authorized the Secretary-General to ensure the retention of up to $131 million in the Iraq Account, in escrow, to indemnify the United Nations and independent contractors for a period of six years regarding all activities in connection with oil-for-food since the programme’s inception.
[20:48:37] TRC: this was supposedly settled
[20:49:50] TRC: but another news site, said they were going to wait til march 2017 to see if any are still claiming financial dues from Iraq
[20:50:25] TRC: iraqi government said they cannot find any claimants
[20:51:15] TRC: United Nations will give these supposed claimants another 3 months to do it
[20:51:43] TRC: has no effect on currency plans..
[20:52:10] TRC: there is an account at United Nations for this
[20:52:50] TRC: if the claimants do not show themselves by end of March Iraq will get the funds in the UN account
[20:53:16] TRC: approximately, 150 million in June
[20:54:45] TRC: 150 million dollars does not affect Iraq concerning iraqi dinar restructuring
[20:54:59] TRC: one way or the other
[20:57:29] TRC: an earlier news release in iraqi media said oil for food law suits were settled
[20:58:14] TRC: but United Nations decided to give it a little longer to see if they can find the claimants from saddam’s era
[20:58:34] TRC: maybe they passed away etc
[20:59:05] TRC: it was supposed to end December 31st
[20:59:35] When is RV?
[20:59:35] Do we have date and rate
[21:00:29] AMG: oh
[21:03:13] TRC: I guess UN Security Council felt Iraq was not trying hard enough to find the claimants
[21:03:25] TRC sent an audio message: Bogus
[21:04:22] TRC: they thought they were getting a transfer of 150 million into their bank accounts
[21:04:30] TRC: this week
[21:38:04] Agus: where are we now? still poor? 🙂
[21:38:48] TRC: 😀
[21:39:08] TRC: we are rich since we know each other
[21:41:21] Agus: CBI said deletion zeros will start at beginning 2017, until now CBI still quiet hehehe
[21:43:51] Agus: how is budget 2017 news? was it get approve?
[21:44:33] TRC: it was approved
[21:44:50] TRC: but it has not been ratified into law
[21:45:58] Agus: why still wasn’t ratify into law?
[21:46:15] TRC: holidays maybe
[22:08:11] TRC: Governor of the Central Bank of Iraq Ali Allaq revealed to delete the zeros of the Iraqi currency, began to develop the first steps of the support of the Iraqi dinar project.
[22:08:32] Agus: hmm , very good news
[22:08:34] TRC: published in Arabian Business a few hours ago
[22:08:56] Agus: Oh my good in official news
[22:09:05] Agus: it is very serious
[22:09:07] TRC: He said in a statement, that the aim of the deletion of three zeros is to support the Iraqi dinar, make it a competitor to foreign currencies, pointing out that this strategic project will serve the country’s economy, as the dinar will be included in the global basket of currencies in the vital exchanges.
[22:09:29] TRC: He added that the bank is working on mechanisms for the implementation of the project, it is expected to start at the beginning of 2017. He pointed out that the introduction of the new currency does not mean the destruction of ancient coins, but will continue to trade for about 10 years.
[22:10:01] Agus: I hope it is not recycle news :0
[22:11:38] TRC: it was posted in a news service outside Iraq
[22:12:03] TRC: it was echoing CBI announcement earlier
[22:13:45] TRC: Tuesday morning
[22:14:45] design: 🙂
[22:18:35] TRC: but how they are going to do it, we must see
[22:19:32] TRC: I understand that they are going to issue 200, 100 50 to start, then issue smaller categories consecutively every 3 months
[22:20:09] TRC: until they have release coins of a fils category
[22:20:10] AMG: that’s the plan……………
[22:20:41] TRC: but we really will not fully understand until we see it happening
[22:20:59] AMG: yup
[22:21:27] Agus: slow implementation it think
[22:21:28] design: that a good plan……
[22:21:44] TRC: if it was going to be in 2017, and be a lop it would have started out today with new currency from top to bottom
[22:21:48] AMG: as long as IT happens THIS year ^.^
[22:22:02] TRC: it did not
[22:22:13] AMG: 🙁
[22:22:14] TRC: so this is good news I think
[22:25:31] Agus: for early workday in 2017 this is good news for start
[22:26:09] TRC: Arabian Business is as it says a middle east business news site
[22:26:18] TRC: so ..
[22:26:27] TRC: take it for what it is
[19:59:28] TRC: ISX held it’s last session today
[19:59:29] Tf: Abadi and the Iraqis keep moving the ball
[19:59:34] When is RV?
[19:59:34] Do we have date and rate
[19:59:50] TRC: next Monday start of new year
[20:00:41] Tf: …things are interesting…
[20:10:07] TRC: E-dinar is close to being launched by looks of it
[20:13:27] design: good news
[20:13:41] design: 🙂
[20:15:09] TRC: Abadi said in a speech, next year Iraq will open economically to the world
[20:18:16] TRC: all Chapter 7 files are now closed except Kuwait compensation debt
[20:20:59] design: cool
[20:21:32] TRC: FATF of course removed iraqi banking from black list
[20:21:52] design: right
[20:22:05] TRC: so .. Iraq just needs to pay off Kuwait, but this may take a few years yet
[20:22:23] design: ok
[20:22:48] TRC: is not a factor with getting convertible dinar
[20:23:13] TRC: Kuwait and Iraq have a good relationship now
[20:23:30] TRC: they are supposed to meet in next week
[20:23:42] design: good deal
[20:23:52] TRC: concerning borders and other economical issues
[20:30:23] AMG: Happy Boxing Day
[20:30:55] TRC: Happy holidays
[21:17:49] TRC: “Zain Cash” service launched from Iraq a new platform entitled “Junbr” to promote the field of e-commerce and online shopping, which allowed for companies and business owners referred for display of commodities and goods through the gate “Junbr” shopping, in addition to the electronic payment feature via the “Zain Cash” service The move to integrate with other services offered
[21:18:28] TRC: transform their phone into a mobile wallet
[21:18:46] TRC: “Junbr” platform to activate e-commerce through the application of “Zain Cash” by enabling traders and companies from opening e-stores to display products and start selling in a process that takes less than 24 hours
[21:19:32] TRC: “the new electronic platform “Junbr” allowed the opportunity to conduct various business dealings purchasing of goods and merchandise are flexible and easy for trader in offline markets, in addition to the largest subscribers to communicate with a number of traders and their goods marketed electronically, as well as the mechanism of electronic payment through the gate, “Zain Cash” steps simple and
[21:19:41] TRC: safe
[21:20:36] TRC: Ministry of Justice Saturday announced the resolution of twenty external law suits in recent period in favor of Iraq, to restore $150 million to Iraq as a result of the resolution of the oil – for – food file.
[21:21:37] TRC: “the Iraqi Foreign ministry led six rounds of important negotiations with the General Secretariat of the United Nations and the views of contracting with them in New York and Paris in order to implement one of the requirements of Security Council Resolution No. 1958 of 2010 private exit Iraq from Chapter VII after commitment to end the oil-for-food and medicine program.”
[21:22:13] TRC: “Iraq thus fulfilled the obligation before the final decision regarding release from under Chapter VII, as left only completing compensation with neighboring Kuwait”.
[21:22:56] TRC: Rafidain Bank stressed the importance of e – cash and its effect on increasing the money supply within the banking system as it contributes to the creation of deposits out of bank records and helps to monitor and control the movement of these deposits.
[21:23:16] TRC: Stressed the need to license work instruments before issuing the e – dinar with the emphasis on raising public awareness of distasteful regimes in electronic payment system.
[21:23:50] TRC: “The central bank will take new legal action against banking offices contrary to the official dollar exchange rate over the next few days.”
[21:24:07] TRC: “those measures aimed at reducing the dollar and support the Iraqi dinar against other foreign currencies and reduce dependence on the black market price.”
[21:24:46] TRC: Sunday, the establishment of a unified electronic system for issuing import licenses within the concept of e-governance.
[21:25:26] TRC: During the meeting included representatives from the finance, interior, agriculture, health, environment, science and technology, industry, minerals, body of Customs, the Directorate of border crossing points, the body of national control, Office of Financial Supervision and the National Intelligence Service to discuss Ministries establish an electronic system for issuing import licenses
[21:26:04] TRC: Delta electronic systems which prepared the electronic import system presented at the meeting a detailed explanation about the nature of this regime and how to deal with by the relevant authorities and facilities for the person who purports to get the import license after a visit to the official website of the system and fill fields with the required information in addition to linking the system
[21:27:53] TRC: Early January Iraqi Banking Forum held in Beirut to discuss the development of the banking sector of the country and the wide participation of local, Arab and foreign banks operating in Iraq.
[21:28:14] TRC: “The Iraqi delegation will be headed by the governor of the central bank Ali Allaq, will leave next month to participate in Iraq’s banking conference held in Beirut from January 11th to 13th,” stressing that “the conference will discuss the challenges facing the banking sector and addressing the outstanding problems facing them.”
[21:28:37] TRC: “the conference will discuss the strengthening of relations between the Iraqi, Arab and foreign banks with a view to ending the problems between the parties and a lack of confidence generated during the last period as a result of statements by some officials.”
[21:29:09] TRC: 45 private banks are using a newly electronic system under the leadership of the Association of private banks led by Assyria Handal bank manager.
[21:31:02] AMG: :whistle:
[21:31:51] design: lots happening
[21:34:34] AMG: yup
[21:34:38] TRC: Iraq resolved all legal matters concerning chapter 7
[21:34:44] AMG sent an audio message: Oh Boy!
[21:34:46] TRC: 🙂
[21:35:10] TRC: in other words they can go global now
[21:35:33] TRC: no international law suits to worry about
[21:35:57] AMG: what are they waiting on………………………..let’s go Iraq 🙁
[21:36:00] TRC: concerning Saddam era finances
[21:36:09] AMG: good
[21:36:13] TRC: took a long time
[21:36:47] AMG: finally it’s done
[21:36:54] TRC: most of the issues were solved in last 12 months
[21:37:06] TRC: thanks to Abadi
[21:37:10] AMG: 😉
[21:37:17] AMG: YES
[21:42:09] TRC: FATF lifted iraqi banks off black list, things look real good
[21:42:37] design: 🙂
[21:42:41] AMG: 😉
[21:42:52] TRC: no excuse now not getting article 8 launched with IMF
[21:43:19] TRC: which puts IQD back on list of currencies in SDR basket
[21:43:31] AMG: as we wait and see
[21:44:32] TRC: some say IQD was frozen when chapter 7 was slapped on Iraq, at it previous exchange rate?
[21:44:47] TRC: :whistle:
[21:45:44] TRC: what was previous rate in 1990
[21:47:07] TRC: 3.20?
[21:48:20] AMG sent an audio message: Say What?!
[21:48:28] AMG: lol
[21:49:30] TRC: yes
[21:49:50] TRC: 3.20 was the exchange value it was fixed rate
[21:50:37] TRC: but after chapter 7 value dropped
[21:50:42] TRC: fast
[21:50:50] AMG: yes
[21:51:14] TRC: so in January it will be 3.20 per Dinar
[21:51:27] AMG: what year
[21:51:31] AMG sent an audio message: Laugh
[21:51:43] TRC: when article 8 is launched
[21:51:59] TRC: it will return to its previous value
[21:53:03] TRC: CBI will issue instructions with international banks on exchanging
[21:53:31] AMG: hopefully SOON
[21:53:36] TRC: number of banknotes will drop fast to 1 billion
[21:54:15] TRC: I am speculating to a degree..
[21:54:30] TRC: just one scenario
[21:54:33] TRC: lol
[21:54:44] TRC: on 3.20
[21:55:38] TRC: if anybody really knows.. some would believe if they said the above, others would not
[21:55:47] AMG: gimme a dollar………………..AMG is not greedy
[21:56:24] TRC: not sure of any situation that mimics Iraq’s
[21:56:32] TRC: in history
[21:56:49] TRC: except maybe Germany
[21:57:22] TRC: Iraq was under chapter 7 much longer tho
[21:57:51] TRC: Germany rebuilt politically much faster
[21:58:34] TRC: but the former bureaucrats under hitler were not replaced for one reason they were fast
[21:58:53] TRC: everyone was replaced in Iraq
[21:59:37] When is RV?
[21:59:37] Do we have date and rate
[22:01:44] design: 3.20 is a great scenario ……
It has come to My attention that USA bank, Citizen bank has returned to selling IQD. I also been told Chase, Citibank and TD bank has also returned or begun selling IQD.
Anybody else can confirm any banks out there selling IQD?
[20:30:13] TRC: CBI governor said new lower currency categories will begin issuing in early 2017
[20:30:28] TRC: or by end of year
[20:31:50] design: guess that tells us something!
[20:31:54] TRC: this time it is definitely more likely
[20:32:21] TRC: especially since FATF IS REMOVING ALL RESTRICTIONS ON THE CENTRAL BANK
[20:33:48] TRC: I believe this is definitely the real deal
[20:34:09] TRC: lol have said before but learned so much since
[20:40:24] design: lol
[20:41:30] TRC: IMF is meeting monthly with CBI so they should get things done right
[20:42:18] design: yes, hope so
[20:43:16] TRC: they meet again in november
[20:43:43] TRC: things are going at break neck speed compared to last ten years
[20:44:02] design: right
[20:44:47] TRC: cannot see any cancelling issues of this announcement albeit of a military coup, or WW3
[20:44:56] TRC: :whistle:
[20:45:13] design: wonder if they would rv prior to new lower currency…… or after
[20:45:54] TRC: CBI said the edinar will be launched by end of year or early 2017
[20:46:02] TRC: if you recall
[20:46:16] TRC: that is convertible dinar
[20:46:28] TRC: electronic global currency
[20:46:42] design: thats right!
[20:46:57] TRC: the value currently is set during sanctions not real global value
[20:46:59] design: forgot
[20:47:01] design: lol
[20:47:24] TRC: all restrictions will be lifted on central bank
[20:47:44] TRC: we will see
[20:47:55] design: right
[20:47:57] TRC: not sure what the value will be
[20:48:31] design: thats the big question too
[20:56:26] TRC: and the money laundering law and financing of terrorism
[20:57:00] TRC: this lifts a number of UN security council resolutions on Iraq
[20:57:23] TRC: Chapter 7 now is lifted 100%
[20:58:47] TRC: of course officially yet has not happened it will shortly
[20:58:59] TRC: by end of year
[20:59:24] TRC: will be official announcement no doubt
[21:00:50] TRC: everything has been done, official date not announced
[21:01:06] TRC: maybe November
[21:01:47] TRC: November 1st the old trade agreement with arab states becomes null n void
[21:02:01] TRC: new system begins
[21:06:57] TRC: for first time in 13 years new trading agreement goes into effect
[20:26:25] TRC: Iraqi government considering paying kurdish government employees
[20:26:34] TRC: instead of Erbil
[20:26:41] TRC sent an audio message: Drumroll
[20:27:06] TRC: this goes thru Baghdad will take control of kurdish finances
[20:27:23] AMG: hey ^.^
[20:28:32] TRC: the law on terrorist financing has been published in iraqi gazette
[20:28:38] TRC sent an audio message: Drumroll
[20:29:16] TRC: this is what Financial Action Task Force was looking for to remove all restrictions on central bank
[20:29:31] AMG sent an audio message: Oh Boy!
[20:30:20] TRC: took so many years to get this law, but I think it was mainly due to stupidity of the elected officials
[20:30:36] AMG: lol
[20:31:02] TRC: many leaders early on did not have a high school education
[20:33:03] TRC: now that IMF has taken control
[20:33:11] AMG sent an audio message: Drumroll
[20:33:20] TRC: they know what has to be done
[20:33:44] TRC: instead of listening to Maliki as they did the last 8 years
[20:33:52] AMG sent an audio message: Bogus
[20:34:31] TRC: so you could say.. the downturn in oil has benefited Iraq and us in short term
[20:36:44] TRC: allowed IMF to come in
[20:38:37] AMG: yup……………………that’s a good thing
[20:39:03] AMG: take charge to do it right
[20:39:25] design: good deal
[20:40:14] TRC: there is UN, US Treasury, IMF and Worldbank experts going thru the books and advising iraqi financial advisers on how to move into global financial markets
[20:40:55] AMG: they needed all the help could get
[20:40:59] TRC: which in turn get removal of Iraq from black list by FATF
[20:41:01] AMG sent an audio message: Drumroll
[20:41:27] design: cool
[20:41:37] AMG: 😉
[20:11:50] AMG: slow news weekend 🙁
[20:12:24] TRC: oh?
[20:13:28] AMG: not much chatter in dinarland………except the Yuan in the SDR basket
[20:13:33] AMG sent an audio message: Drumroll
[20:14:05] AMG: anticipated
[20:14:53] AMG: Russia warns US about SYRIA Aleppo
[20:15:01] TRC: Iraq signed agreement to start shipping line to ship goods to and from Iraq
[20:15:17] AMG: ohyeah
[20:15:18] TRC: with Global Marine
[20:15:38] TRC: they have four ships now will get more
[20:16:04] TRC: they used to have more before war with Iran
[20:16:45] TRC: these four are brand new
[20:17:07] TRC: will be ordering more from korean ship builder
[20:17:17] AMG: yes
[20:17:21] TRC: container and freight
[20:17:44] TRC: grain and dates too for export
[20:18:38] TRC: US congress failed to approve the funding of half iraqi bonds last week
[20:18:50] AMG sent an audio message: Yell!
[20:18:58] TRC: was republicans would not pass it
[20:19:01] AMG: 🙁 saw that
[20:19:05] AMG sent an audio message: Yell!
[20:19:14] AMG: jerks
[20:19:21] TRC: mostly because election year I think
[20:19:51] TRC: never seen such a crazy election year
[20:21:36] TRC: CBI governor said in the official news paper of Iraq, Iraq has been approved to financial white list
[20:22:33] AMG: huh?
[20:22:37] TRC: FATF has approved Iraq, lifting all sanctions on financial trading
[20:23:27] AMG: awesome
[20:25:42] TRC: executive director of association of iraqi banks said will cooperate with CBI through establishment unit to combat money laundering in each bank
[20:26:29] TRC: 40 experts have been trained in global standards
[20:26:39] TRC: will be in each bank
[20:27:43] AMG sent an audio message: Drumroll
[20:28:04] TRC: Iraq classification on white list reflects positive image to move money
[20:29:14] TRC: global organisations recognize importance of Iraq on the international economy
[20:29:43] AMG sent an audio message: Oh Boy!
[20:30:13] TRC: 300 currency exchange offices have been put on black list
[20:30:47] AMG: so when do we exchange??? lol
[20:30:50] AMG sent an audio message: Laugh
[20:30:57] TRC: cooperation between CBI and US Treasury on status of these companies
[20:31:43] TRC: this is first time there is coordination with US bank
[20:32:04] TRC: will continue
[20:32:10] AMG: cooperation
[20:32:19] AMG: nice
[20:32:43] TRC: CBI will link with US Treasury
[20:32:54] TRC: permanently
[20:33:01] TRC: electronically
[20:33:58] TRC: activating the memorandum of understanding with United Nations
[20:34:41] TRC: allowing international investigators to investigate for looted funds inside and outside of Iraq
[20:35:41] TRC: on the surface it looks like Iraq is going global sooner than later
[20:36:03] AMG: 😉
[20:37:29] TRC: October 1st it began by looks of it
[20:37:53] TRC: all above news
[20:39:04] TRC: IMF meetings start next week
[20:42:23] AMG: :-c
[20:45:58] TRC: will see ships with iraqi flag some where some time
[20:55:59] TRC: US fiscal year starts monday
[20:59:15] TRC: CBI was closed today
[20:59:27] TRC: islamic new year
[21:00:18] AMG: MONDAY it is
[21:00:56] design: seems lots happening
[21:01:33] TRC: serial numbers on banknotes now will be able to be sent instantly to US Treasury electronically
[21:01:41] AMG sent an audio message: Drumroll
[21:01:47] AMG: 😉
[21:02:22] TRC: alot has happened in last 12 months thats for sure
[21:02:49] design: they got to be bout ready! lol
[21:03:17] AMG: Soon
[21:03:40] TRC: they are trying to figure out now how to launch eurobonds without US support
[21:03:54] AMG sent an audio message: No Way Dude!
[21:04:33] TRC: talking bout maybe launching 1 billion in bonds instead
[21:04:42] TRC: 2 billion
[21:05:47] TRC: congress will not meet again on finances until after new president sits in whitehouse I believe
[21:07:57] TRC: yes news out today looks very promising for most part design