Let me boil my recent comments down to one simple idea.
It appears to me – Warka Bank is interested in the same thing the CBI is right now…
Which is, recapturing as much Dinar as possible.
Does this imply some immediate RV (or value change)?
No – it does not. In fact, it might even imply them thinking some value shift may be coming as far out as sometime in the next couple of fiscal quarters.
To our esteemed and distinguished Warka clients,
Warka Bank for Investment and Finance is delighted to inform its fine clients that the distinguished Central Bank of Iraq has approved that our clients participate in the upcoming capital increase. Warka clients are now permitted to purchase Warka stock from the funds depoisted in their bank accounts participating in the capital increase in accordance with clause 56 no. 4 of the Iraqi Company Registration Law the adjusted law no. 21 for the year 1997 . There are no limitations to the amount of shares purchased where Warka clients are permitted to use their entire deposits to purchase Warka Stock participating in the Capital increase.
Warka clients are kindly requested to submit a signed authorization letter authorizing our bank to withdraw funds from their account to purchase the stock indicating your account number, signature, the funds in IQD to be withdrawn from your account as well as a clear colored copy of your id and passport.
The Warka stock will be purchased at a value of 1 IQD per Warka share and will be registered in the clients ‘s good name in the ISX depository system where the stock will re-trade regularly back in the Iraqi Stock Market once the general assembly hearing and capital increase procedures have been completed.
Warka clients wishing to participate in the capital increase are kindly requested to send their authorization letter with the full details indicated above to our brokerage office 3044@warka-bank-iq.com within two weeks from posting this notice.
Wishing all our Warka clients prosperity and growth true success and much fortune
Respectfully,
Warka Bank for Investment and Finance
Article Credit: warka-bank.com (Special Thanks to Alan Wright)
BGG ~ OH DEAR LORD!!
I get it that they’ve changed (ownership / management), they’re all different now and under the direct oversight of the CBI (which might even bother me a little more)…
BUT HOLY COW!! These guys are really something…
“Here’s a letter authorizing us to withdraw the money from your account”… (because it’s somehow – legally O.K.) …and put it in ours… “sign right here please… press hard – there are three copies”
However, the flip side of this is, what if…
They know (or can foresee) something is on the horizon? They bring in all this IQD (for essentially – FREE)… then the IQD value goes up.
They just sold millions upon millions of shares of a Bank that is essentially worthless for $1 per share (or more). Sounds like the greatest financial coup in history.
Would the value of the IQD going up make the bank more valuable?
No, it does not… but if Warka pulls this off they will be sitting on a GIGANTIC PILE OF MONEY.
Why else would they sell a share of their (albeit $h!tty) bank for FRACTIONS of a cent?? They would be GIVING IT AWAY…
Unless, of course, they foresee buying the incoming money at one price and selling it later at another.
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For the first time in Iraq .. The launch of salaries through the MasterCard card world
Baghdad / … Al-Rasheed Bank announced Friday the launch of the first installment of salaries through the MasterCard card, one of the electronic payment tools, pointing out that the card is drawn from inside and outside Iraq .
The bank’s information office said in a statement received by “Eye of Iraq News” that “the Rashid Bank launched the first installment of salaries through the card MasterCard International Nakheel electronic payment tools .”
The bank called on all departments and ministries to “speed up the settlement of salaries of their employees and their access to the card so that the bank can give them advances and loans, knowing that the card helps the citizen to save and protect him from circulation of counterfeit currency and damage and retain salaries from thefts suffered during the transfer of salaries .”
He continued, “The card is drawn from inside and outside Iraq and the bank recently distributed a number of ATMs in Baghdad and the provinces, knowing that the commission of the card (10) thousands of dinars, three years.” Finished 2
Article Credit: aynaliraqnews.com (Special Thanks to Tim Tarkington)
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Abadi vows to chase the big thieves and recover the money they have seized
Baghdad – Mawazine News – Prime Minister Haidar al-Abadi vowed on Thursday to hold a meeting with the district directors and municipal units in Baghdad to hunt down the big money and recover the money they seized, while stressing that he would challenge any law legislated by the parliament.
A statement from the Prime Minister’s Office, received a copy of the “Mawazine News” that “Abadi, held a meeting with the district managers and municipal units in the city of Baghdad.”
“Iraq has gone through a difficult stage and a serious existential and economic challenge, and we have emerged victorious and united, and we must now work to harness all national capabilities and capabilities to provide services to citizens after the great victory achieved with the most sacrifices and the least potential,” he said.
He called on the district directors and municipal units in the city of Baghdad to “follow the field for every small and large and be true to promises to provide services and not give false promises can not be met, and away from partisan loyalties or accelerate the work of electoral motives at the expense of quality,” stressing the “necessity Make the most of the available resources. ”
He called on Abadi, “to provide appropriate services in return for collection and not to be tax to take amounts without services with the need to stop waste.”
As for the problem of abuses, Abadi said, “When we take into account the humanitarian situation of citizens, we must differentiate between the senior thieves who seized the state land and the poor citizens in need of housing, and any law legislated by the parliament and benefiting from it will appeal to the senior thieves, as well as the amnesty law, which includes kidnappers and criminals” , Pledging to “prosecute the thieves and recover the money they seized.”…
Read Full article Text: mawazin.net (Special Thanks to Charles Bright)
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Central Bank of Iraq Auctions $168,576,870 on 20 March 2018
Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on March 20 registered $168,576,870 in sales, a -15.71% volume decline from the US $199,992,938 sold by Iraqi Dinar, credit and transfer at the previous auction held on March 19.
The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on March 20 compared to the previous auction.
Data for the March 20 auction was made public by CBI Announcement Number 3659.
Dollar sales in the in the period January 1, 2018 to March 20, 2018 saw an increase of -1% compared to the sales of US $8.03 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.
An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to February 2018, sales of US dollars averaged US $1.89 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.
Article Credit: http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS
BGG ~ We will continue to highlight the regular auctions.
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The value of the Iraqi dinar rose against the dollar by 0.20%
The value of the dinar rose 0.20% against the dollar on Thursday, after the central bank sold more than $ 181 million to cover the private sector’s dollar needs to import and meet the requirements of travelers for tourism, treatment and work.
The exchange rate of the dollar in the capital Baghdad:
The sale price of the dollar = 121.750 dinars
The price of buying the dollar = 120.750 dinars
The dollar exchange rates were recorded in the northern governorates:
The sale price of the dollar = 122.250 dinars
The price of buying the dollar = 121.250 dinars
The dollar exchange rates were recorded in the southern governorates:
The sale price of the dollar = 122,000 dinars
The purchase price of the dollar = 121,000 dinars
Article Credit: en.economiciraq.com (Special Thanks to Charles Bright)
BGG ~ They almost NEVER show the buy/sell in the various regions like this… so this isn’t vital information “tourists” need (as if there were any of those in Iraq)… it’s an advertisement directed at the IMF and the world.
It’s up to you to figure out why.
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Kaperoni (Dinar Guru) – …the CBI is selling lots of dollars right now (200 million today) so my guess is they are in compliance and not planning to wait to much longer for Article VIII. They want to end the auctions and stop draining the reserves. Hang in there.
Read more: http://www.dinarupdates.com/observer/
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Kaperoni (Dinar Guru) – I don’t understand why so many are trying to figure out what the correct 2% spread is for the Market Rate? This is pretty simple…. The Official Rate at the CBI is 1184, you add the CBI commissions on auction currency of 6 dinars to reach 1190. The spread then is derived from this at 2% or 24 dinars making it 1214 to $1 or less to be in compliance. Based on today’s numbers, they are within compliance.
Read more: http://www.dinarupdates.com/observer/
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Parliamentary economy: the coming days the date of passing the law of oil and gas
Special – Mawazine News – A member of the Committee on Economy and Investment parliamentary, Harith al-Harithi, Wednesday, that the next few days will witness the vote on the laws of a very important, while noting that among these laws the law of oil and gas.
Al-Harithi told Mawazine News that “the next few days will witness the completion of all the laws that are stalled reading and voting to end this few remaining period of parliament by reading the largest number of laws.”
He explained that “the important laws that will be read are the law of oil and gas for its economic importance and the revenues of the state and how to deal with it, in addition to the laws of parties and social security and health professions and many laws will be read and voted to end.
It is noteworthy that there is a package of laws in the House of Representatives because of the differences of political blocs around them, and was deported to several parliamentary sessions. Ended 29/6 N
Article Credit: mawazin.net (Special Thanks to Tim Tarkington)
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BGG (Dinar Guru) – ...according to the IMF’s own published documents Iraq has been in compliance with their MCP policies for quite some time now, with the exception of one situation with Jordan (or someone like that)… but they were given a technical waiver on this one instance.
Read more: http://www.dinarupdates.com/observer/
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Adam Montana (Dinar Guru) – Dinar is so on the verge of making a breakthrough. I don’t even know what to say right now! Yes, this could be another false flag… but it might be our time. Many of us are about to receive an incredible amount of wealth…
Read more: http://www.dinarupdates.com/observer/
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Parliamentary Energy: The law of the National Oil Company will give a share to every Iraqi citizen
The Iraqi oil and energy committee revealed on Tuesday that the Iraqi National Oil Company (INCOC) will include at least 10 percent of the funds in the first experiment in the country, while one of the funds will give each Iraqi citizen residing within the country a share of that percentage. “The legislation of the law of the Iraqi National Oil Company represents a great achievement for the House of Representatives, which re-established the law of forming the company, which was canceled by personal decisions of the former regime in 1987 after there was a law,” Ali al-Bahadli, chairman of the committee, told a news conference with members of the committee. No. 123 of 1967, where it was merged and subordinated to the Ministry of Oil, “noting that” after 2004 tried to the Ministry of Oil and former Minister Ibrahim Bahr al-Ulum to reactivate the law of the National Oil Company, but those efforts collided with objections from some. ”
Al-Bahadli added that “the law and after the efforts and discussions and workshops lasted for several months has seen the light, where will work to activate investment in refineries and the gas industry and all the goals set for the success of the work of the company can be achieved through several objectives and means in investment and exploration of new structures and activate investment under the mechanisms and scientific foundations And technical, “pointing out that” some understand that the company has powers higher than what some expect, but really draws its work and powers of the Constitution, the arm of the Ministry of Oil, which draws oil policies of the country and the company is working to implement those policies. “…
Read More: http://www.dinarupdates.com/showthread.php?56437-Parliamentary-Energy-The-law-of-the-National-Oil-Company-will-give-a-share-to-every
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Some interesting headlines…
Electronic banking has been launched in Iraq
Abadi: Iraq will become a global economic power
Predictions: Abadi when winning a second term .. will do 5 things
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The rise in the value of the dinar strengthens international confidence in the Iraqi economy
Baghdad / Hussein Thugb – The recovery of the Iraqi dinar and the stability of the exchange rate leads to the strengthening of international confidence in the national economy, where local markets indicated an increase in the value of the Iraqi dinar against the dollar and conflicting views on this and came the opinion of the Central Bank to be the subject.
Director of operations at the Central Bank of Iraq, Mahmoud Dagher, said that “the improvement of the value of the Iraqi dinar against the dollar recently, is not a new phenomenon, but the outcome of the work continued for a full year, was through the identification of large measures on the process of currency presentation and address violations of demand. Classification and audit and noted that “over the past year we were able to achieve great stability of the upper and lower limits to the dollar either Aldnyar, and then we moved to a new situation this year , represented a new classification procedures adopted and auditing, as well as the offer.” Greater coverage and added that ” it is hard to be one variable indicator in this change , there are several measures and cover greater demand for the dollar, as well as emphasis on control over the sales operations with banks and regulate this process accurately based on classifications.
(Special Thanks to LoopBack)
Dave S – “the improvement of the value of the Iraqi dinar recently, is not a new phenomenon, but the outcome of the work continued for a full year, was through the identification on the process of currency presentation and address violations of demand.”
In other words nothing has changed on a national level.
The dinar has continued to fluctuate as in the past against the dollar on a national level.
The challenge is going to an international level meaning that in order to do that their needs to be a change in “classification “, in my opinion, lower denominations for ATMs and for the purposes of auditing etc…
This is the process to get the dinar recognized on an international level.
I could be wrong but just my humble interpretation of this article.
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Click this link to join the DU “private” FaceBook Group…
https://www.facebook.com/groups/571383766355188/
(go here and ask to join… then add some Dinar Friends!!)
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Post RV Checklist (it’s getting to be that time!! Listen up!!)
Dos and Don’ts of Windfall Wealth:
Treat it like a PowerBall win
– Tell no one, not even family. If you must talk, do so with one who is already in the know.
– Don’t run out & buy new “stuff”. People notice.
– Get an unpublished number and give it out very sparingly.
– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…
Read Complete List: http://www.dinarupdates.com/showthread.php?18519-The-Post-RV-Checklist-and-Flashback-documents&p=128477#post128477
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Baghdad / .. The National Alliance, on Sunday, blocking the Presidency of the Republic to approve the law of the budget of 2018, voted by the House of Representatives, on Saturday.