Dinar Daily NEWS Blog – July 28th

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Word for the day…

Corinthians 1:18 (NKJV)

18 For the message of the cross is foolishness to those who are perishing, but to us who are being saved it is the power of God.

Heavenly Father, Thank You for the message of the Cross, it is the power of God! In Jesus Name, Amen.

Mrs BGG

home7

Iraqi Dinar/Dollar auction 07-28-15

Currency Auctions Announcement No. (3003)

This daily currency auction was held in the Central Bank of Iraq on the 07-28-2015

The results were as follows:

DETAILS NOTES
Number of banks 20
Number of remittance companies 6
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 319,447,688
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 319,447,688
Total offers for selling (US$) —–

More: http://dinarupdates.com/observer/


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Chihod calls for a “strike hard” for the currency manipulators

Follow-up – and babysit – called member of a coalition of state law, MP Mohammad Chihod Prime Minister to zero tolerance and beaten with an iron hand with each accused of beating the currency and rising. Dollar

Said Chihod in a press release “proved after investigations into organized crime directorate that there politicians and influential in the government and the banks have had a hand in the rising currency rates and hit the Iraqi economy, adding that the manipulation of the Iraqi currency is very dangerous because it threatens the Iraqi economy and therefore I think the government today demanding an end for these actions and hit him with an iron fist for both manipulated the Iraqi economy

He stressed that “there is political pressure exerted on the Prime Minister in order to cover up these spoilers on the grounds all the political blocs is committed to a set of spoilers

Chihod Prime Minister and demanded that this is not subject to political pressures and beaten with an iron fist for each of the manipulated currency regardless of the person revealed their names to the Iraqi people to know of and behind the theft of his strength.

http://www.dinarupdates.com/showthread.php?16045-Chihod-calls-for-a-quot-strike-hard-quot-for-the-currency-manipulators-7-28&p=124852&viewfull=1#post124852
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World Bank gives Iraq two months to approve the anti-money laundering law

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For a peek at all the most up-to-date DU News – check the Iraq News Thread (in the forum)…

http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS

(Please note – we are posting daily News Articles slightly differently now)
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Round Table Chat w/BGG (mid-day) – 7-27-15

Thanks to DinarRecaps.com for posting Round Table Chat w/BGG filling in for Millionday

BGG: Alright – everything I’m going to cover comes out of the “Current Iraq NEWS” Forum…

BGG: If you all haven’t seen the new format – IT IS AWESOME. Check it out.

BGG: Each article is separate and open for comments.

BGG: Also much easier to browse and “search”…

BGG: and before I move on – to our News Hounds, posters, and editors (we could use a couple more) THANK YOU – It looks GREAT!!

BGG: like LOOP said the other nite – this is IT in Dinar Land.

BGG: In no particular order…

World Bank gives Iraq two months to approve the anti-money laundering law

BGG: BAGHDAD / WAP / detection for economic and investment commission parliamentary member Ahmed Kanani, Monday, for the granting of the World Bank and international financial institutions Other, Iraq until next October as the date for the adoption of anti-money laundering law.

He warned Kanani said in a press statement News Agency Baghdad International / WAP / received a copy of it, “of the consequences of delays in the House of Representatives to pass anti-money laundering law and the financing of terrorism, which did not receive attention of the Presidium of the parliament.” He said that “Parliament did not pay so far significance required for this bio-law, which depends upon the continued continue Iraq economically with the outer perimeter and the focus of the Chamber of Deputies on the minor issues. “

He added that “Iraq would be included in the black list countries in economic deal and cash other than lack of enactment of this law, the measure would eliminate the purchasing power of the Iraqi dinar and put the bank CBI into a corner makes him isolated from the world organization. ” Among Kanani said that “the time limit was left of which only about two months and the Chairman of the House of Representatives that included law on the agenda for the nearest session, but will be responsible for the punitive economic measures to be taken by the world against Iraq.” / finished 8

BGG: Are you seeing this???

BGG: I mean HOLY MOLY!!

BGG: Basically the WB is giving them 2 months to get this done – Or else.

BGG: First off – what’s up with the “or else” tone?? Yikes…

BGG: it also portrays the WB has been assuming this would have been handled by now – pretty much guarantee this is the hold-up behind the various “aid packages” and loans.

BGG: also – I would imagine they know Maliki is the central figure in this problem.

BGG: (money laundering – via the CBI)

BGG: Just some of the “threatened” consequences…

BGG: “…Iraq would be included in the black list countries in economic deal and cash other than lack of enactment of this law,”

BGG: “…the measure would eliminate the purchasing power of the Iraqi dinar…”

BGG: “…and put the bank CBI into a corner makes him isolated from the world organization.”

BGG: “…but [Parliament] will be responsible for the punitive economic measures to be taken by the world against Iraq.”

BGG: All I can say is SHAZAAM!!

BGG: if there were ever pressure on Iraq and the CBI – it is now…

BGG: all of the above in print and in the “Current Iraq NEWS” forum – DinarUpdates.com

jtank: strings attached

BGG jtank: of course – haven’t I been saying that ALL ALONG???

BGG jtank: hate to say “I told you so…”

BGG jtank: but I did :)

Doodle Brain: Where is the Anti-money laundering law in Parliament? Has it been read once already? My memory fails me right now…

BGG: Not sure it’s even been read…

BGG: but the WB is pointing out – Iraq isn’t taking this seriously.

Doodle Brain: They are definitely putting the pressure one, that’s for sure!

BGG: They need to – big time. The jokers behind the scenes getting paid (and can’t leave the trough) are about to make the “BIG DOGS” not very happy.

jtank: they have been kicking the can on these laws for awhile now–what are they going to change to make it happen–removal of key persons?

BGG jtank: IMHO – yes… also what the WB is implying. They really need these “bad actors” dealt with – apparently, the “fuse is lit”. 2 mos.

Doodle Brain: Found article, will post in Forum…written 7-21-15…here is opening of article “Iraq is stepping up efforts to curb money laundering and terrorism financing.
Iraq’s parliament is expected to soon endorse a new law that aims to combat money laundering and terrorism financing, the government’s economic adviser said.
Mazhar Mohammad Saleh told TR Zawya that the draft law, which was approved by the cabinet in June, would be more inclusive than a 2004 law that was drawn up by the Coalition Provisional Authority. He said the new law would cover tax evasion, smuggling of antiquities and cash as well as corruption.”

Doodle Brain: doesn’t mean it was read through…but just wanted to share that there is “noise”.

BGG: apparently – according to the WB – they need to “Step up FASTER”… or they get the “black ball treatment”…

wilson6060: Do we know what will happen if they do not meet the deadline.

BGG: they laid out several very bad options in the article.

BGG: Will they – I doubt it. I imagine Iraq will get the message.

BGG: that is a serious threat.

tman23: Go ahead with the grand opening of bond sales……it should be a huge success with investors breaking down the doors to purchase….LOL…… And it appears that the laws would more less be amendments to existing, which would IMO be a precursor per se’ that the sanctions on Iran are not by-passed by the Iranian supporters inside the GOI/CBI……. And is it coincidental that Oct 1st is the day EVERYTHING begins…..Nuke agreement……and some countries beginning trade bypassing using the usd……….

BGG: OK – lets cover some more news.

The current time is right to delete the three zeroes from the local currency

BGG: BAGHDAD / Nina / called a former member of the Finance Committee secretary Hadi al-Yasiri, the central bank to speed up the application of the project to delete the zeros and make it parallel with the money, which began shortly before laundering law.

Yasiri said the National Iraqi News Agency / Nina / that “the project to delete the zeros old project was supposed enacted and implemented years ago, but some economic matters has affected negatively on the approval, stressing that” the market work and the issue of external and internal debt and the work of the Iraqi Stock Exchange are all related to the deletion of zeros and must Coordination with the government to have the project ready for implementation. “

He added, “The current time is right to implement the project to delete the zeros to be parallel to the process of money laundering and controlling money smuggling operation abroad, adding that” money laundering and smuggling abroad adversely affect the price of the dinar, and a lot of private banks are benefiting from the price difference between the central bank and the market price. “

The Council of Ministers in the previous session postponed the application of the decision to delete the zeros from the current currency, without specifying a time limit before they resume the parliamentary finance committee and the central bank steps discuss implementation of the resolution at the current session on the 2016 early next year, will be introduced in principle ./anthy8

BGG: Here are a few things to think about…

BGG: Hadi al-Yasiri while maybe not a current Finance Committee member – was on the Finance Committee Chaired by ABADI.

BGG: and while he may not be a “current decision maker” as Kap pointed out – this is the “other side of the ALAK argument” – and they are talking about it with growing regularity.

BGG: al-Yasiri pointed out this was supposed to have been done LONG AGO. I guess there was a reason some of our thoughts didn’t work out quite right.

BGG: he says the Market (likely referring to the move to a free market), internal and external debt and the ISX all relate to this project… and the GOI needs to get it in gear.

BGG: the time is now…

BGG: and oddly enough – points out the VERY THING THE WB is saying…

BGG: this project and the money laundering need handled at the same time…

BGG: as I have said often – likely Maliki and that bunch are at the center of this conflict. Any better reason for Maliki’s guards to have broken into the CBI and torched one whole floor (records only) earlier during Shabibi’s tenure??

BGG: the last paragraph just “wanders off” about how the current CBI is/has been putting things off… (all predicated on them even being in the position to do so much longer).

Read More: http://www.dinarupdates.com/showthread.php?15953-Bgg-news-7-27-15

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Former deputy in the Finance Committee: the current time is right to delete the three zeroes from the local currency

BAGHDAD / Nina / called a former member of the Finance Committee secretary Hadi al-Yasiri, the central bank to speed up the application of the project to delete the zeros and make it parallel with the money, which began shortly before laundering law.

Yasiri said the National Iraqi News Agency / Nina / that “the project to delete the zeros old project was supposed enacted and implemented years ago, but some economic matters has affected negatively on the approval, stressing that” the market work and the issue of external and internal debt and the work of the Iraqi Stock Exchange are all related to the deletion of zeros and must Coordination with the government to have the project ready for implementation. ”

He added, “The current time is right to implement the project to delete the zeros to be parallel to the process of money laundering and controlling money smuggling operation abroad, adding that” money laundering and smuggling abroad adversely affect the price of the dinar, and a lot of private banks are benefiting from the price difference between the central bank and the market price. ”

The Council of Ministers in the previous session postponed the application of the decision to delete the zeros from the current currency, without specifying a time limit before they resume the parliamentary finance committee and the central bank steps discuss implementation of the resolution at the current session on the 2016 early next year, will be introduced in principle .

http://www.dinarupdates.com/showthread.php?15935-The-current-time-is-right-to-delete-the-three-zeroes-from-the-local-currency-7-27&p=124710&viewfull=1#post124710
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CURRENCY CODE SELL BUY

US dollar USD 1166.000 1164.000

CURRENCY CODE SELL BUY
US dollar USD 1166.000 1164.000
Euro EUR 1289.363 1288.718
British pound GBP 1808.699 1807.795
Canadian dollar CAD —– —–
Swiss franc CHF 1218.773 1218.163
Swedish krona SEK 136.592 136.523
Norwegian krone NOK 142.597 142.526
Danish krone DKK 172.802 172.716
Japanese yen JPY 9.430 9.425
Special
Drawing Rights
SDR 1630.581 1629.766

Indicative rates – 07.28.2015

http://www.cbi.iq/

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