Higher sales to the central bank on Sunday to 140 million dollars

Sales of the Iraqi Central Bank, Sunday, a rise of 140 million dollars, through the participation of 14 banks in an auction today.

The bulletin indicated that the special auction today and received the Agency for News News (et) a copy of the session saw a rise in sales of the bank for up to 140 000 598 thousand dollars, were covered by the bank at an exchange rate basis was 1166 dinars to the dollar, compared to the day on Saturday, which Sales amounted to a 94.00041 million thousand dollars.

And the distribution of demand by 89,000,723 thousand dollars in the form of remittances and 61% for the remainder of $ 50 million 1.875 million in cash, was to cover all the demand by the bank in full, and the exchange rate was 1179 dinars per dollar, including the bank’s commission of 13 dinars per dollar, While he did not make the banks participating in the auction 14 CBI any offers to sell the dollar.

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Higher sales to the central bank on Sunday to 140 million dollars

Sales of the Iraqi Central Bank, Sunday, a rise of 140 million dollars, through the participation of 14 banks in an auction today.

The bulletin indicated that the special auction today and received the Agency for News News (et) a copy of the session saw a rise in sales of the bank for up to 140 000 598 thousand dollars, were covered by the bank at an exchange rate basis was 1166 dinars to the dollar, compared to the day on Saturday, which Sales amounted to a 94.00041 million thousand dollars.

And the distribution of demand by 89,000,723 thousand dollars in the form of remittances and 61% for the remainder of $ 50 million 1.875 million in cash, was to cover all the demand by the bank in full, and the exchange rate was 1179 dinars per dollar, including the bank’s commission of 13 dinars per dollar, While he did not make the banks participating in the auction 14 CBI any offers to sell the dollar.

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BRICS sign deal to create development bank

The BRICS group of emerging powers have launched a $ 50bn development bank to be based in the Chinese city of Shanghai, according to a joint declaration.

The bank will have an initial subscribed capital of $ 50bn followed by an authorised capital of $ 100bn, equally shared among the BRICS members – Brazil, Russia, China, India and South Africa.

The New Development Bank’s first president will be from India while the board’s chairman will be Brazilian, according to the declaration released at a summit in Fortaleza, Brazil.

Tuesday’s deal was reached after intense last-minute negotiations to settle a dispute between India and China over the headquarters of the new bank.

Brazilian President Dilma Rousseff said setting up the currency reserve was a priority for the countries to protect themselves from crisis scenarios: “It will be a kind of security net to increase protection for BRICS countries as well as other countries. It’s a question of our security.”

The other four leaders present were Russian President Vladimir Putin, Chinese President Xi Jinping, Indian Prime Minister Narendra Modi and South African President Jacob Zuma.

The bank and fund are seen as counterweights to the Western-dominated World Bank and International Monetary Fund, which BRICS nations say need more reform to give emerging nations more voting rights.

India’s presidency of new BRICS bank will be for five years, according to the Reuters news agency. Reports say that no decision has been made yet regarding which country will hold next presidency.

The bank is expected to make its first loan in 2016.

The BRICS countries have a shared desire for a bigger voice in global economic policy.

They now account for 21 percent of global economic output and have contributed more than 50 percent of world economic growth in the past decade.

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AL JAZEERA ENGLISH (AJE)

Central Bank issued Services (Visa card) to reduce the phenomenon of carrying cash

Follow-up – and babysit – Central Bank announced the issuance of a system of electronic payment services for money (Visa card) to reduce the phenomenon of pregnancy and money circulation.

According to a statement of the bank, “the aim of developing financial and banking sector in Iraq and reducing the phenomenon of pregnancy and trading coins and create an atmosphere of competition between financial institutions through the provision of banking services Bank has adopted a new version of e-payment of funds.”

“The new system will organize the work of providers of payment services and licensing them have been published in the Gazette of the Iraqi issue No. (4326) of 23 June 2014.” Q, Q

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Japan’s Bank Lending 2.3% vs. 2.2% forecast

Investing.com – Japan’s bank lending remained unchanged unexpectedly in the last quarter, official data showed on Monday.

In a report, Bank of Japan said that Japan’s Bank Lending remained unchanged at a seasonally adjusted annual rate of 2.3%, from 2.3% in the preceding quarter.

Analysts had expected Japan’s Bank Lending to fall to 2.2% in the last quarter.

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Despite of militant insurgents, governor of Central Bank of Iraq assured support for Iraqi Dinar

[unable to retrieve full-text content]Iraq and the GCC in particular and the Arab countries and Middle Eastern generally need to work doubly to stop the process of money laundering and financing of terrorism because there are a lot of gaps that must be bridged.
Dinar Daddy’s Tidbits

Bodies of missing settlers found in West Bank

Tel Aviv — The Israeli army has recovered the bodies of three teenage settlers who went missing in the West Bank earlier this month, triggering fears of a broader military crackdown in the occupied territories.

The bodies of the settlers were found in a field near the village of Halhoul on Monday, not far from where Israeli troops first started searching after they vanished on June 12.

The Israeli army responded to the discovery of the bodies by launching at least two dozen airstrikes across the Gaza Strip on Tuesday.

The trio were hitchhiking home from a religious school in Kfar Etzion, an illegal settlement between Bethlehem and Hebron, and were last heard in a brief emergency call to police.

Their disappearance set off the largest military operation in the West Bank since the end of the second intifada: More than 400 Palestinians were detained in the 18-day search, thousands of homes raided, and five people killed by Israeli gunfire.

Hamas blamed

Israel has blamed Hamas for the murders, though it has offered no evidence to support that claim.

On Monday night it demolished the homes of Marwan Qawasmeh and Amer Abu Aisha, two Hebron-area residents who the Israeli government has named as suspects.

The use of punitive demolitions revived a practice that was almost entirely discontinued in 2005.

The Israeli security cabinet also held an emergency meeting on Monday night, which ended with no major decisions on further actions, according to a government source. The cabinet will reconvene on Tuesday.

Some politicians have called for harsher steps against Hamas, including targeted assassinations. “I don’t know how many leaders of Hamas will remain alive after tonight,” Tzachi Hanegbi, the deputy foreign minister, told reporters.

“Hamas is responsible, and Hamas will pay,” Prime Minister Benjamin Netanyahu said in a statement.

The group dismissed the accusations in a statement, calling them propaganda. “We warn Israel against any stupid action. If Israel wants a war, the price they will pay will be greater than in previous wars,” it said.

The settlers’ bodies were found at a time of heightened tensions in the south, with daily airstrikes and rocket launches, and Israeli troops preparing for a possible military offensive. In conversations over the past two weeks, security officials have hinted at “retaliating” against Gaza if the trio were found dead.

The Palestine Liberation Organisation’s Hanan Ashrawi told Al Jazeera that the “Israeli escalation already took place, and now they have an excuse of further escalation.”

Hundreds of people gathered in Tel Aviv’s Rabin Square on Monday night to hold a sombre vigil for the trio. The mood was far more angry in the West Bank, though, and there were reports of Israeli settlers attacking Palestinians in several villages.

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AL JAZEERA ENGLISH (AJE)

Fierce West Bank battle over missing teens

Israeli soldiers have clashed with Palestinians during an arrest raid in the fiercest confrontation so far in the week-long search for three missing Israeli teenagers in the occupied West Bank.

Hospital officials said on Thursday three Palestinians suffered bullet wounds in the overnight clashes in Jenin. There were no reported Israeli casualties.

The Israeli army said in a statement that about 300 Palestinians took to the streets when the soldiers entered the city at about 2am local time. The military claimed they were attacked with explosives, rocks and gunfire.

“The soldiers responded with live fire, identifying hits,” the statement said, adding that 30 “terror suspects” were detained in West Bank, bringing to 280 the number of Palestinians taken into custody over the past week.

The Reuters news agency photographers in Jenin heard heavy gunfire during the night but were kept away from the scene of the clashes by the Israeli army.

Alleged abductions

Gil-Ad Shaer and US-Israeli national Naftali Fraenkel, both aged 16, and Eyal Yifrah, 19, disappeared last Thursday as they were hitchhiking near a Jewish settlement.

Since then, Israeli raids have spread from house-to-house searches in Hebron to raids across the West Bank of institutions believed to provide funding and other support for Hamas that Israel accuses of the abductions.

At Bir Zeit University, near the Palestinian town of Ramallah, Israeli soldiers on Thursday seized Hamas posters and flags from a student group affiliated with Hamas.

The military said that so far, soldiers had searched about 900 locations. There has been no word from the missing teens nor any public claim of responsibility or ransom demands – including by Hamas. Hamas however has not issued any denial of involvement.

Western-backed Palestinian President Mahmoud Abbas roundly condemned the kidnappers on Wednesday and promised to hold to account those responsible.

His words in turn were denounced by Hamas and other factions, who accused him of betraying the national cause.

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AL JAZEERA ENGLISH (AJE)

Central Bank warns citizens to avoid Basra International Bank for Investment

On Wednesday the Central Bank of Iraq issued a warned citizens against dealing with Basra International Bank for Investment, noting that the bank has been ordered to cease all banking activities.

A Central Bank of Iraq representative said that “the citizens mustn’t accept any act issued by the Basra International Bank for Investment due to an order to cease and desist from all its banking business activities.”

A Central Bank of Iraq statement said that “the bank had previously put under receivership based on the decision No. 1485 of the Central Bank of Iraq in June 2012 in accordance with the Article No. 69 of the Banking Act of 2004.”

The Central Bank of Iraq had already imposed trusteeship, on June 6, on Economy Bank for Finance and Investment, the formation of committees of trusteeship will be composed of three people for a period of 18 months, subject to extension, it’s Mission preparing a report on the financial situation and the future prospects of the bank.

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Asia stocks mixed after World Bank cuts global forecast

Investing.com –

Investing.com – Asian stock markets were mixed on Wednesday, as sentiment was dampened after the World Bank cut its global growth forecast for this year.

During late Asian trade, Hong Kong’s Hang Seng dipped 0.35%, China’s Shanghai Composite eased down 0.02%, Australia’s SP/ASX 200 closed 0.29% lower, while Japan’s Nikkei 225 ended up 0.5%.

The World Bank lowered its global growth forecast to 2.8% from an earlier estimate of 3.2%, citing weaker than expected growth in the U.S., Russia and China.

Markets in mainland China and in Hong Kong edged lower following the previous session’s strong gains. The Hang Seng pulled back from the highest level since January amid concerns over high valuations.

Meanwhile, in Australia, the ASX/200 Index fell from the previous session’s one-week high, while the Australian dollar rose to a four-week high against the greenback.

The Aussie strengthened to 93.89 U.S. cents, the most since May 15, from 93.68 cents in the prior session.

Elsewhere, in Tokyo, the Nikkei bounced off the previous day’s one-week low, with momentum subdued following a lackluster session on Wall Street. Profit taking sent U.S. stocks edging lower on Tuesday after investors locked in gains from last week’s upbeat U.S. jobs report.

Looking ahead, European stock market futures pointed to a lower open. The Euro Stoxx 50 futures pointed to a loss of 0.1% at the open, France’s CAC 40 dipped 0.2%, London’s FTSE 100 indicated a decline of 0.2%, while Germany’s DAX slumped 0.1%.

Across the Atlantic, U.S. equity markets also pointed to a weaker open. The Dow pointed to a loss of 0.1%, the SP 500 dipped 0.1%, while the Nasdaq 100 indicated a decline of 0.1%.

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Asia stocks mixed after World Bank cuts global forecast

Investing.com –

Investing.com – Asian stock markets were mixed on Wednesday, as sentiment was dampened after the World Bank cut its global growth forecast for this year.

During late Asian trade, Hong Kong’s Hang Seng dipped 0.35%, China’s Shanghai Composite eased down 0.02%, Australia’s SP/ASX 200 closed 0.29% lower, while Japan’s Nikkei 225 ended up 0.5%.

The World Bank lowered its global growth forecast to 2.8% from an earlier estimate of 3.2%, citing weaker than expected growth in the U.S., Russia and China.

Markets in mainland China and in Hong Kong edged lower following the previous session’s strong gains. The Hang Seng pulled back from the highest level since January amid concerns over high valuations.

Meanwhile, in Australia, the ASX/200 Index fell from the previous session’s one-week high, while the Australian dollar rose to a four-week high against the greenback.

The Aussie strengthened to 93.89 U.S. cents, the most since May 15, from 93.68 cents in the prior session.

Elsewhere, in Tokyo, the Nikkei bounced off the previous day’s one-week low, with momentum subdued following a lackluster session on Wall Street. Profit taking sent U.S. stocks edging lower on Tuesday after investors locked in gains from last week’s upbeat U.S. jobs report.

Looking ahead, European stock market futures pointed to a lower open. The Euro Stoxx 50 futures pointed to a loss of 0.1% at the open, France’s CAC 40 dipped 0.2%, London’s FTSE 100 indicated a decline of 0.2%, while Germany’s DAX slumped 0.1%.

Across the Atlantic, U.S. equity markets also pointed to a weaker open. The Dow pointed to a loss of 0.1%, the SP 500 dipped 0.1%, while the Nasdaq 100 indicated a decline of 0.1%.

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Economy Bank under guardianship

Aggiedad77    Article “Iraqi Central Bank puts the economy for investment under guardianship”

The CBI as previously announced has put the Economy Bank for Investment and Finance under guardianship…..much like they did to Warka a couple of years ago…..they will be inventorying the banks assets in efforts to keep the bank solvent at this time and help them to return to strong leadership…..

the CBI will aid in managing deposits as well as making payments on debts….sounds sort of like a child that has to come home and live and let Mom pay their bills and balance their check book….if there are insufficient funds to operate the bank the CBI will liquidate the bank after a final meeting with customers.

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Central Bank allows companies to buy the dollar conversion directly

Baghdad – and babysit – Central Bank of Iraq for money transfer companies get approval to buy the dollar directly.

A statement from the bank said that “The Board of Directors of the Iraqi Central Bank decided to allow the money transfer companies bought the dollar to cover the direct transfers and cash, in accordance with the mechanics of which were announced without the need to center banks,” … p / i

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Israel ‘suspends’ soldier over W Bank deaths

Israel’s army has suspended a non-combat soldier seen firing his weapon during clashes in the West Bank earlier this month in which two Palestinian teenagers were killed, Haaretz newspaper reported.

The report published on Thursday came amid a military police investigation into footage from two CCTV cameras that appeared to show the shooting of the two teens was unprovoked, taking place during a lull in the clashes.

The shooting took place during a day of protests on May 15 as Palestinians marked the “Nakba”, or catastrophe, of Israel’s establishment in 1948.

Haaretz said the soldier had been spotted on CNN footage released last week, firing “what appeared to be a rubber bullet” at around the same time the first of the two teenagers was shot.

But it said there was no proof his shot was responsible for killing of Musaab Nuwarah. ”The IDF has found no evidence proving that this soldier’s bullet caused Nuwarah’s death,” it said.

The paper said the suspended soldier was a member of the army’s communications division, a non-combat unit. Such troops, it said, were not permitted to fire unless attacked themselves.

An Israeli army spokesman refused to comment on the report, only saying “the military police investigation is ongoing”.

Video shows fatal shooting of Palestinians

In the CNN footage, a group of five or six border police officers in dark grey fatigues and helmets with visors can be seen milling around behind wall in the town of Beitunia, southwest of Ramallah.

In a 13-second clip focused on them, a soldier in green fatigues is seen kneeling behind the wall, aiming his rifle.

A first shot appears to be fired by a border policeman standing among the group, then 10 seconds later, the kneeling soldier also appears to fire a shot.

Immediately after the second shot, one of the border police is seen taking the weapon from the soldier and the camera quickly pans round to show Palestinians carrying the teenager to an ambulance.

According to the CCTV footage, the two teens were shot in the same location but there was an hour and 13 minutes between the two incidents.

Palestinian medics have said both were killed by live bullets, but the Israeli army has denied live fire was used at the scene.

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AL JAZEERA ENGLISH (AJE)

Pope Francis Arrives In West Bank

Pope Francis has landed in the occupied West Bank at the start of a two-day tour of the Palestinian territories and Israel.

Francis flew straight by helicopter from Jordan to Bethlehem on May 25, becoming the first pontiff to travel directly to the West Bank rather than enter via Israel.

The Pope is due to celebrate an open-air Mass in Bethlehem’s Manger Square, close to where Christians believe Jesus was born.

He is also due to visit a nearby Palestinian refugee camp.

Later, Pope Francis will travel to Tel Aviv and then Jerusalem where he will meet Bartholomew I, the Orthodox Patriarch of Constantinople.

On May 24 in Jordan, the first stop of his Middle East tour, Francis called for a “just solution” to the conflict between Israel and the Palestinians. 
 

Based on reporting by AFP, Reuters, and AP

Radio Free Europe / Radio Liberty

KRG : revenues of oil exported by Kurdistan deposited in Turkish bank .

Arbil / Nina /– Kurdistan Regional Government announced that oil revenue exported by Kurdistan to Turkey will be deposited in Turkish Khaq bank .

A statement by the provincial government , today said : ” Kurdistan region’s oil exports started from Turkish port of Ceyhan .

The Turkish Energy Minister Taner Yildiz announced that Kurdistan region of Iraq began selling the first shipment of crude oil through the Turkish port of Ceyhan on the Mediterranean. / End

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Predictions of US Bank criminal charges next week

Camdoc: Bix Weir predicts first large US Bank criminal charges next week.

Watch for the first criminal charges against a large bank to hit next week. This will open the flood gates once again so be ready.

As for gold and silver…they will fly when the US Treasury decides to let them go. Many think that time will NEVER come but remember – the US is looking after our own best interests and destroying the global fiat monetary system will destroy our BIGGEST problem….DEBT!

This is the unspoken secret in Central Banking and why the United States will NOT lose it’s economic power to China or Russia or any other country that holds fortunes in fiat money. Let me say that again: The United States will not lose as many smart economists are predicting.

Remember this famous quote that US Treasury Secretary John Connally told a group of European bankers as we were going off the Gold Standard in the early 1970′s…

“The Dollar may be our currency, but it’s your problem.”

May the Road to Roota you choose be the Right Road.

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Industrial Bank: Loans granted to Iraqi farmers

Shafaq News / Industrial Bank affiliated to the Ministry of Finance called on Saturday, residents wishing to obtain a loan of 15 million dinars to review its branches in Baghdad and the provinces.

A source at the bank said in a statement reported for ” Shafaq News ” , that he calls ” citizens wishing to obtain a loan of 15 million dinars to review its branches in Baghdad and the provinces ,” noting that “the initial review is for the purpose of knowing the required conditions for the promotion of the papers of receiving these loans .”

He added that ” the bank granted loans in the last term to 768 citizens,” adding that ” the total amount of these loans amounted to 25,339,700,000 dinars.”

“The bank will continuously grant loans to all citizens in accordance with the developed mechanisms and controls by taking into account reducing the red tape ” , pointing out that ” a system of control and inspection has been found for the purpose of follow-up granted credits and the preservation of public money by giving those loans .”

It is worth mentioning that a large proportion of Iraqis need to activate the loans granted to them and facilitate the procedures for paying and reduced benefits because of their need for a wide range of services that lacked it for decades , of the priorities of those needs are the construction of residential buildings or establishing small projects that will sustain their livelihood properly , according to specialists .

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Bank Story

DW941: Personal friend and Private banker!

Ok, I mostly lurk and really do not say much but I feel this is worth bringing to the Family!! Over 6 mos ago I brought this GCR to her attention, she was stunned at the fact that this was taking place knowing nothing about it! She had no knowledge and had not even heard the term Delarue used for a currency counter, over the past few months she has mentioned very quietly a few emails floating around about the Dinar and Dong! Very guarded with the info.

On Monday last week I scheduled an appointment to speak with her about opening an account with WF specifically for the exchange money! Not only was this account opened it was also explained to me where the exchange would take place (Private Bank) but also that there would be a team of about 8 people there to assist as well as herself! There was also comments made about things she has been told she cannot discuss. I don’t know about the rest of you but really gave me some encouragement and I hope does you too!

Keep the faith everyone we are close!

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Bank Story

DW941: Personal friend and Private banker!

Ok, I mostly lurk and really do not say much but I feel this is worth bringing to the Family!! Over 6 mos ago I brought this GCR to her attention, she was stunned at the fact that this was taking place knowing nothing about it! She had no knowledge and had not even heard the term Delarue used for a currency counter, over the past few months she has mentioned very quietly a few emails floating around about the Dinar and Dong! Very guarded with the info.

On Monday last week I scheduled an appointment to speak with her about opening an account with WF specifically for the exchange money! Not only was this account opened it was also explained to me where the exchange would take place (Private Bank) but also that there would be a team of about 8 people there to assist as well as herself! There was also comments made about things she has been told she cannot discuss. I don’t know about the rest of you but really gave me some encouragement and I hope does you too!

Keep the faith everyone we are close!

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Central Bank Governor: private banking sector in Iraq has seen little growth

The governor of the Central Bank and the Agency Abdul Basit Turki Saeed, Sunday, that the private banking sector in Iraq has seen little growth over the past decade.

He said Turki said that “private banks in Iraq did not work as a sector integrated during the past 10 years, but I just tried to take advantage of the opportunities of the Iraqi Central Bank in its daily auction,” noting that “the work of the banking system in a simplified lies role in the receipt of individual savings and secured to the investor Mini ( credit + loans) in addition to the normal role of banks to provide the necessary funds for investments. ”
He added that “some of these banks rely in this way depends on what most of the banks of the profits achieved Mnamilit buy foreign currency at the central bank auction daily, while other banks adopt my game so-called letters of guarantee to increase its capital.”
He pointed out that “the central bank since 2013 and has tried to reduce this effect, and the adoption of recommendations to support the role of the president of the private banks on credit and loans to the private banking sector to move forward.”
It is noteworthy that many officials are demanding the private banking sector to give special attention to the growth of investment and the country’s economy in general.

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The Central Bank has printed currency notes of small groups and also large groups

4-24-2014 Millionday: Article: “The Central Bank’s Treasury Director Ihsan Al-yasseri said the Central Bank has printed currency notes of small groups (250, 500 and 1000) and also large groups (5, 10 and 25) 1,000 dinars.” this is not the release of the coins and the small denoms but is obviously a huge sign they are back from the printer and done also – they are for trade business…this is huge when you think about the major bank issues we have been seeing with no currency and citizen complaints – also huge because it is on the streets — large denoms we knew they printed. [also, why give a note that is worth only $ 0.21 security features?] bingo. this has NOW BEEN IDENTIFIED TO BE ONE OF THE STEPS CBI/TURKI SAID WE WOULD SEE FOR THE ACTIVITY OF THE ACTIVATION OF THE MONETARY POLICY — AN IDENTIFIED STEP.

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Bank Story

Iko Ward:    WF info as of 04.22.04. Spoke to my wealth manager. I went in to set up my primary VNN and IQN accounts instead of waiting for the appointment. I asked her direct questions about the exchange. They have had meetings. They will only be doing retail level exchanges at our area currency exchangers (4 locations. I am NW of Philadelphia).

I will be passed on to the WF Private Banking subsidiary after my initial exchange. She knew nothing of contract rates. I will still have my everyday money at the local branch. She asked how much I had. I told her it was best not to answer. This was all she was allowed to say.

What was different this time is she was rehearsed, no hesitation, clearly there has been some training and since she is on the fast track in their wealth management division she was towing the line. She also told me the guy I had been dealing with on the next level up would tell me the exact same thing, and that he was being promoted.

I take all this as simple evidence of the pending event. All of us, me included, go through the worst case scenario, but conversations like this help me stay level headed.

Whatever bozo said something about two years this week pushed my buttons, but then I went down my checklist of how does that make sense? (a permanent saying now in my list of ten things to say) which always calms me down.

I still plan on the international rates, but have also planned scenarios for the contract rates. Whatever the case, I am wealthy.

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Kaperoni talks about a large CBI bank deposit.

Iraq-Banking-Weakened

Kaperoni Article: “Central Bank: 70 trillion dinar bank deposits” This is a huge article…think about it…if the CBI’s plan was to reduce the money supply they are announcing today that 70 trillion dinar sits in banks. The choice will be..loan it out or reform the currency and raise the value of the dinar. Now is the time with all this dinar out of circulation.

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Bank Story

PassionBee: Chase Bank: I went to a chase bank in Texas today to speak with a wealth manager. They told me that they did not have a wealth manager at that location, but they will have one to come to that location and speak with me.

I told them I am coming into an inheritance and was told to speak to a wealth manager. They wanted to hook me up with a financial advisor but I told them a wealth manager. They ask me how much are we talking about. I told them I didn’t know for sure yet.

I ask the manager whom I was speaking with if she was aware of the foreign currency revaluation and she said yes and their bank is one that will be doing exchanges.

She also said that since they work for the bank that they couldn’t buy any currencies because they know when currencies goes up and down and it is illegal for them to purchase any currencies.

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Iraq to ask world bank for loan.

Tomorrow’s Press / Baghdad: Minister of Finance Agency purity of net debt, Sunday, that Iraq is preparing to offer a program of the World Bank purports it to get a loan to bridge the shortfall in the budget for the current year, while noting that there are talks with the bank to provide financial liquidity for projects in the absence of provided by the government.

Safi said for “tomorrow’s Press,” that “there is a possibility that facing liquidity difficulties as a result of the deficit of significant progress in the current year’s budget will affect the continued operation of the strategic projects carried out in Iraq,” noting that “Iraq will progress during the spring meetings of the IMF and World Bank international meeting held in Washington DC, a program of the World Bank for a loan to fill this deficit. ”

He added that “there are talks with the World Bank for the possibility of providing financial liquidity for projects if they are not provided by the government.”

It is noteworthy that there are differences between the governments in Baghdad and Erbil on some items of the law of the federal budget for the current year related to the export of obsolete oil province of Kurdistan and Iraq have caused these differences to disrupt the law was passed

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Bank of Japan board March minutes show agreement easy policy working

Investing.com –

Investing.com – Minutes from the March meeting of the Bank of Japan board showed members shared the view that the effects of the aggressive easy policy launched in April 2013 are steadily working, according to text released on Friday.

The nine board members “expressed the view that it was appropriate for the BOJ to continue to steadily pursue quantitative and qualitative monetary easing in accordance with the current guidelines, as Japan’s economic and priced evelopments had been broadly in line with the forecasts presented in October 2013,” the minutes showed.

The March meeting minutes indicated that the policymakers don’t see an imminent need for additional easy policy, although market players are betting on additional monetary easing in the coming month.

There was agreement that that real interest rates are falling on the back of a rise in inflation expectations, the minutes also showed.

But one member questioned the expectations for the policy

“If a rise were to occur in markets’ anticipation that quantitative and qualitative easing would continue for a protracted period or extreme additional measures would be implemented in a situation where it was unlikely that the price stability target would be achieved in about two years, this could lead to economic instability in the medium to long term, such as through a buildup of financial imbalances,” they showed.

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Bank of England holds key rate at 0.50%, QE unchanged at £375B

Investing.com –

Investing.com – The Bank of England kept the benchmark interest rate on hold and announced no change to its asset purchase facility program, it said on Thursday.

The BoE said it was maintaining the benchmark interest rate at 0.50%, in a widely anticipated move. The bank also said it was to maintain the stock of asset purchases financed by the issuance of central bank reserves at 375 billion.

Following the announcement, the pound was little changed close to four-and-a-half year highs against the broadly weaker dollar, with GBP/USD trading at 1.6785.

Meanwhile, European stock markets remained mixed to lower. London’s FTSE 100 was up 0.22%, the DJ Euro Stoxx 50 was down 0.20%, France’s CAC 40 dipped 0.02%, while Germany’s DAX edged up 0.09%.

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Dinar Daddy’s Tidbits

Bomb explodes outside Greece’s central bank

A car bomb has gone off outside a Bank of Greece building in central Athens, smashing windows in nearby shops but causing no injuries, police and witnesses say.

The blast on Wednesday struck hours before Greece planned its first foray into the international bond markets since it plunged into a debt crisis four years ago, and a day before a visit by German Chancellor Angela Merkel.

A police officer, spealing on condition of anonymity, told Reuters news agency that someone had anonymously warned a newspaper of the attack about 45 minutes before the explosion just before 6am local time.

The caller said the device contained about 70kg of explosives.

There was no immediate claim of responsibility, but police believed leftist or anarchist groups were behind it, the official said.

Witnessess saw debris strewn across the street in a busy part of the capital lined with banks, shops and a mall.

Makeshift bomb and arson attacks have escalated since Greece adopted unpopular austerity measures in exchange for financial bailouts by the European Union and International Monetary Fund in 2010.

Small-scale attacks against politicians, journalists and businesspeople are frequent in Greece.

179

AL JAZEERA ENGLISH (AJE)

Mysteries and Secrets of the exclusion of al-Maliki to head the central bank

Informed sources revealed the reasons for the exclusion of Iraqi Prime Minister Nuri al-Maliki to head the central bank Abdel Basset Turki.

The sources said that Iraqi politicians in the government of Nouri al-Maliki have significant financial transfers abroad in the recent period, according to the agency “right.”

The sources close to the director of the Central Bank of Abdel Basset Turki said the bank continued to transfers of up to millions of dollars by people close to Prime Minister Nuri al-Maliki.

She explained that the conversion points distributed among the United Kingdom, Scotland, Ireland, the Netherlands, Denmark, Sweden, Canada, and the United States of America, United Arab Emirates.

He has dismissed the director of the Central Bank of Abdel Basset Turki, putting his place “on the Keywords”.

Has raised the dismissal of the President of the Central Bank before the start of the election campaign debate about the secrets of matter.

He sought to keep his job in every way, despite the big differences that are shaking the country after he entered the conflict with al-Maliki in different directions almost.

LINK

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Dinar Daddy’s Tidbits

Is Iraq’s Central Bank Buying Gold?

Central banks are still adding gold bullion to their reserves and the smaller countries are getting into the act big-time.

According to the International Monetary Fund (IMF), in the month of March, Iraq’s central bank added 36 tonnes of Gold bullion to its reserves—worth about $ 1.5 billion. This is the first purchase by the central bank since August of 2012, when it bought 23.9 tonnes of gold. (Source: Reuters, March 25, 2014.)

Sure, you could say, “Michael, 36 tonnes of gold bullion is nothing for a central bank.”

I agree. But looking at the bigger picture, it is very significant for a small country like Iraq—a country whose annual gross domestic product (GDP) is smaller than Amazon.com’s sales for 2013—to be getting into gold bullion in a big way. The official announcement from the central bank of Iraq sent the message that it bought the gold bullion to stabilize the country’s currency and add insurance to their reserves.

Since 2009, central banks around the global economy have become net buyers of gold bullion, and I don’t think they will stop anytime soon. The main reason for this is that the central banks see a significant amount of volatility coming to the world of paper currencies—something they hold in their reserves.

Too many major world currencies are in a downtrend. The U.S. dollar has been on a decline since the beginning of 2014. The Canadian dollar is hitting multiyear lows. The Japanese yen has been plummeting.

Where do we go next with gold bullion?

At present, the amount of negativity towards gold bullion is immense. But the fundamentals paint a different picture. Central banks around the world (especially China) continue to be major buyers of gold bullion, as do private individuals. This year, world gold production will decline as gold companies have slashed their exploration budgets and shut down low-grade, cost-ineffective mines.

Looking at the fundamentals, how can I not be bullish on gold bullion?

Irrational, maybe even manipulated, gold prices have resulted in the stocks of many well-managed gold companies selling at prices we have not seen in years. I see the shares of quality gold producers as an opportunity for investors to practice the old adage of “buy low, sell higher later.”

LINK

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Dinar Daddy’s Tidbits

Central Bank calls on citizens to “maintain” the cleanliness of banknotes

Called on the Central Bank of Iraq, on Monday, citizens to “maintain banknotes local and not exposing them to write and seals and signatures,” promised that “damaging the general appearance” of the banknote, and as pointed out that “Enter the mechanization of modern and sophisticated” operations counting banknotes, He stressed that these devices require a “clean sheet of cash does not carry any damages.”

He said the Iraqi Central Bank in a press statement received (range Press) a copy of it, “The Central Bank calls on citizens to maintain banknotes local category (two hundred and fifty, five hundred, a thousand, five thousand, ten thousand, twenty five thousand) dinars.”

He called Bank of citizens “not to expose these securities to any damages such as writing or seals or symbols or signatures,” attributing the cause to be “without prejudice to the general appearance of the banknote because of civilization of the Iraqi dinar.”

And between the central bank in its statement that “other reasons which called for the bank to keep the paper local is admitted to the mechanization of modern and sophisticated counting and sorting operations for those banknotes,” explaining that “these devices require the presence of a banknote clean not afford any damage to its promise.”

It is noteworthy that Iraq adopted, after 2003, in his dealings with currency cash has editions in European countries instead of the previous currency, which was in place in the nineties of the last century, which was reprinted at the time of printing presses local because of the sanctions imposed on Iraq, and was characterized by rapidly damage and lack of recognition International them.

There are currently in Iraq six categories of currency is the two hundred and fifty dinars and five hundred thousand dinars and the dinars and five thousand and ten thousand dinars dinars twenty five thousand dinars.

LINK

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Dinar Daddy’s Tidbits

Central Bank raises for the protection of Iraqi funds abroad

Follow-up / newspaper probity – witness the next date of 5/22/2014 change economically and strategically a lift protection for Iraqi funds deposited in banks in the United States.

Deputy Governor of the Central Bank of the previous appearance of Mohammed Saleh: “It’s (22 May 2014), will raise U.S. protection for Iraqi funds deposited in the” Development Fund for Iraq, “and will receive the responsibility of the Iraqi Central Bank directly, after the withdrawal of Iraq from Chapter VII in (27 June 2013). ”

He stressed that: “Deposits Development Fund for Iraq, which come from oil imports have been deposited in the Reserve Bank and the U.S. is a discount of 5% of Kuwait’s compensation in accordance with Section VII imposed by the United Nations against Iraq.” Ended

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Bank Story

Goddess of Love:  Latest Update from Wells Fargo Bank

Went into my local WF bank to do my car payment today. New to the left of the teller section is a NEW FOREIGN CURRENCY LCD SCREEN that updates foreign currency.

Keep in mind that I posted a story a few months back about the podium in the center of the doorway when you walk into the bank.

I asked the teller when they put it up and he told me they’ve had if for about a month now. He said “We do a lot of currency transactions and it helps our customers see the rates when they come in”.

GOOD ENOUGH FOR ME.

DO NOT ASK WHY I DID NOT TAKE A PICTURE FOR YOU or inquire about any other information. It is what it is. You’re not supposed to take pictures in the bank!

Just know that WE ARE SO FREAKIN CLOSE YOU CAN JUST TELL.

Have a blessed day everyone.

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Dinar Daddy’s Tidbits

Investigation looming with the Central Bank concerning the vast difference in the exchange rate of the currency

{Baghdad: Euphrates News} A member of the parliamentary Finance Committee Hassan al-Bayati, said that the continuation of the vast difference in the currency exchange rate between the central bank and private banks or banking companies for more than a year is considered corrupt and makes bank officials under penalty of law, pointing out that there might be an investigation into In the future, with the central bank regarding this matter.
al-Bayati told the News {Euphrates} on Thursday that “the central bank is responsible for the stability of the Iraqi dinar, which from its responsibilities to maintain the value of the national currency against foreign currencies and inflation in the country, these duties and responsibilities of the central bank must therefore be on the central bank to take measures to maintain the value of the Iraqi dinar. ”

He added that “there is a vast difference between the exchange rate of the currency, the central bank and private banks or shops and banking companies, as the exchange rate difference of up to seven or six thousand dinars and this is a big difference too did not exist previously.”
al-Bayati said “mistaken policy of the Central Bank that led to it, it should not be there is such a broad difference, banks and banking companies earn a lot of money and imaginary processes of buying and selling,” he said, adding that “there may be an investigation of the central bank in the future regarding this matter. ”

He explained that “It is possible that this great difference between the exchange rate for months or for years, but continue to nearly two years indicates that the intent in this case exists,” noting that “the continuation of the central bank this deal will make it the responsibility of the governor and others under penalty of law as This deal is corrupt. ”
al-Bayati said that “the House of Representatives responsible for the accounting officers of the Central Bank, the Office of Financial Supervision and integrity, so For Audit Court not to remain indifferent to this dangerous phenomenon.”

Iraq has offices and banking companies widespread, is dominated by uncertainty, as some of these companies have turned to money laundering because of the lack of legal control of them, according to economists.
The traders buy and sell the dollar criticized the way in which the Iraqi Central Bank to sell the dollar and according to the opinion of some specialists in economic affairs, the CBI did not follow the monetary policy and legal , financial and economic foundations right in the process of selling the dollar.

LINK

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Parliamentary economy bear the responsibility of the Central Bank of the fluctuation of the Iraqi dinar

Baghdad: Carried by the committee of economy and investment parliamentary responsibility of the Central Bank of the fluctuation of the price of the Iraqi dinar against other currencies.

A member of the Economic Commission Amer winner told the News} {Euphrates on Thursday that the “wiggle political Central Bank weighed heavily on the currency in Iraq,” noting that “the bank is responsible exclusively on monetary policy in the country.” and added that “the instability of the security situation and the continuing differences between the political blocs other factors affected the instability of the Iraqi dinar against foreign currencies. ” and “The stability of the central bank’s policy, and the security situation, in addition to providing a suitable platform for foreign investors, factors that will help the stability of the Iraqi dinar against other currencies”.

Revealed the winner for “resolve all outstanding differences between the center and the region on the Law of the general budget and other problems relating to the export of oil,” likely “to read the budget such as reading a second session next Sunday.”

This accused member of the Committee on the economy and investment representative in earlier Aziz Mayahi influential figures in The government, in coordination with the staff at the Central Bank to control the sale of hard currency, which led to a decline in the exchange rate of the Iraqi dinar against the U.S. dollar.

Said Mayahi that the central bank has vowed to take new measures to stabilize the exchange rate of the dinar against the dollar, but so far is still the exchange rate of the dollar high It seems that the current administration of the bank can not support the value of the Iraqi dinar. ”

It was the Iraqi Central Bank announced that it will take new measures to stabilize the Iraqi dinar exchange rate during the month

LINK

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World Bank discusses the financial and banking sectors in Iraq

The Deputy Prime Minister Dr example, has typically Nuri Shaways, the official in his office, in Baghdad, the day Thursday, 03/17/2014, Mary Helen Head of Mission of the World Bank.

During the meeting was to review and revise the most important topics discussed in the meetings with the World Bank held in Washington, chaired by Rep. dissuade delegation financially an investment commercially during the month of March this during his recent visit to the United States.

The parties discussed the subject of financial and banking sector in Iraq and its importance and ways to promote it and develop it for the contribution effective in building and construction, and the rest of the other areas and assistance provided by the World Bank, including the needs of training cadres functional Iraqi middle and upper, this meeting was attended by the Director of the Office of the Deputy Prime Minister.

LINK

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Iraq’s Central Bank buys 36 tons of high-purity gold bullion

Said a statement obtained by “obelisk”, a copy of “Alasttratejah as part of the central bank in managing the reserves of the vessels, to achieve an element of safety and safety in order to use the tools of monetary policy to stabilize the exchange rate of the dinar against foreign currencies Iraq.”

The statement noted that “the Bank has purchased large quantities of gold bullion with a very high purity and in accordance with the approved international standards”, noting that “the quantity amounted to almost 36 tons during the month of March to achieve the above objective.”

LINK

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Palestinians killed in West Bank clashes

At least three Palestinians have been killed and 14 others injured in an Israeli raid in Jenin refugee camp in the occupied West Bank, Palestinian officials and medics said, with some of the wounded in critical condition.

The son of a former Hamas official was among the dead on Saturday, Al Jazeera has learned.

Palestinian sources said Israeli soldiers entered the camp in the northern West Bank city to arrest Hamza Abu Alheja, 20, a member of the Hamas military wing, the Ezzedine al-Qassam Brigades, with clashes resulting in the death of Mahmud Abu Zena, 19, an Islamic Jihad member.

A civilian named as Yazan Jabarin was also killed in the clashes, as a day of mourning and general strike were announced.

Israeli army spokesman Peter Lerner called Abu Alheja “a ticking bomb” who took part in shooting attacks and was in “advanced stages of the preparation of further attacks”.

Lerner told reporters that security forces shot Abu Alheja after he shot and lightly wounded two Israeli soldiers while trying to escape from the building in which he was holed up.

Meanwhile, “Palestinians began to shoot and throw explosive devices at the troops, and as a result we have two more killed”, Lerner added.

While there is security coordination between Israel and the Palestinian Authority (PA), the Palestinians were not involved in the Jenin operation, he said.

‘End security coordination’

Around 15,000 mourners calling for Palestinian unity and vengeance, as well as an end to Palestinian-Israeli peace talks, attended a joint funeral for the three dead men at noon.

An AFP news agency correspondent said the bodies of Abu Alheja and Abu Zena were wrapped in flags of their Hamas and Jihad movements, while Jabarin was wrapped in the flag of the Al-Aqsa Martyrs Brigades, an armed offshoot of Palestinian leader Mahmud Abbas’s Fatah party.

A rare joint statement by the three movements issued during the funeral vowed revenge and accused the PA which is headed by Abbas of complicity in the killings through its security cooperation with Israel.

PA security forces had arrested Abu Alheja in the past.

Gaza rulers Hamas called on the PA to “end security coordination with the Israeli occupation and leave the resistance to act freely,” in a statement.

Abu Alheja’s father, Jamal Abu Alheja, is a prominent leader of the movement Hamas who was been in Israeli prison since 2002.

An Islamic Jihad statement issued from Gaza said the Jenin killings demonstrated that “resistance continues”.

“The United States and Israel want to force the Palestinians and the entire region to surrender, but Gaza and the West Bank resist this,” senior Islamic Jihad official Nafez Azzam said.

The movement called for a demonstration in the northern Gaza town Beit Lahiya later Saturday to condemn the Jenin killings and “support resistance”.

A spokesman for Abbas condemned the “continuing escalation against the Palestinian people”, for which he blamed Israel.

“We call on the US administration to move quickly to prevent a general collapse in the region,” Nabil Abu Rudeina said.

On Thursday, he said US-sponsored peace talks with Israel have reached an impasse because of Israeli settlement activity.

The talks are on the brink of collapse, with Washington fighting an uphill battle to get the two sides to agree to a framework proposal to extend the negotiations to the year’s end after an April 29 deadline.

The violence in Jenin came as Palestinians in Gaza prepared to mark the 10th anniversary of the killing of Sheikh Ahmed Yassin, spiritual leader of Hamas, in an Israeli air strike.

Saturday’s deaths mark the bloodiest clash in the West Bank since November, when Israel killed three men it claimed were Salafist fighters.

Since the beginning of 2014, Israeli forces have killed nine Palestinians in the West Bank, according to an AFP tally.

629

AL JAZEERA ENGLISH (AJE)

Central Bank of Iraq received formal letter for disbursing February salaries to the Kurdistan employees

On last Monday, the ministry of finance of Iraq said that that it had sent a formal letter to the Central Bank of Iraq (CBI) to send salaries of last February to the staff of Kurdistan Region.
The deputy of the Minister of Finance, Fadel Nabi said, “The office of Prime Minister, Nuri al-Maliki had sent during the past few days a letter to the Ministry of Finance includes approval to send the salaries of February exclusively to Kurdistan.”

Nabi also added that it is true that I announced my resignation, but I am continuing in the work the ministry, indicating that the ministry has sent a letter to the Central Bank of Iraq to pay the amounts allocated to employees’ salaries of February only to the region.

He said that the amount allocated for this purpose will arrive to the region within two days. It is worth mentioning that crisis of voting on the budget of the draft general in Iraq for the current year has overshadowed employees and retirees of the region after differences between Baghdad and Erbil on the issue of oil export led the federal government to cut salaries for the region for the past two months.

LINK

Dinar Daddy’s Tidbits

The central bank seeks to stabilize the Iraqi dinar against the U.S. dollar

BAGHDAD / newspaper rectitude – exposure of the Iraqi economy to economic shocks large affected and fully at the level of the Iraqi dinar and caused slumping and the flight of capital abroad, declined to foreign investors from entering the country, for fear of fluctuations in the exchange rate of the currency, and now seeks the central bank to adopt a new policy to protect the currency Iraqi and ensure its stability against the U.S. dollar.

Where A member of the parliamentary Finance Committee Abdul-Hussein al-Yasiri that the stability of the Iraqi dinar is due to several reasons, including the policy followed by the Central Bank of Iraq auction sale dollar a day.

He added: “This auction is a balance between supply and demand, the Iraqi dinar and the dollar, and was able to since its introduction a few years ago until now to maintain the stability of the Iraqi dinar.”

He Yasiri that the central bank has an important role in the stability of the dinar through daily currency auction, and that other measures also have an important role in supplying the Iraqi economy that serves everyone. ”

Between “the country and the potential Iyad worker and good technical, we want the Investment Authority that work well for the investor comes with the money, that does not come and borrow from the banks.”

He pointed out that “the banking sector progresses through the banking system is good and has a locking system well and keeping deposits of citizens and keeping bank loans and the strategic situation and cash management well,” stressing that “the Central Bank of 80 billion dollars, and must exploit the part of these amounts for development of the economy in Iraq. ”

For its part, revealed the association of private banks – non-governmental organizations – all taken in coordination with the Central Bank of Iraq some monetary policies that will maintain the stability of the exchange rate of the Iraqi dinar against foreign currencies.

He says the managing director of the Association super good: “The private banks now operate to attract traders, who make up one of the main sources for the introduction of foreign currency to Iraq and determine the activity of speculators at the exchange rate of the currency through the revitalization of reliance on bank bonds in banking transactions.”

So stressed economic expert Majid picture on “the need for cooperation with the Ministries of Finance and Commerce, in the application of monetary policy new taken by the central bank in coordination with the private banks,” and warned at the same time that the absence of such cooperation would lead to “the inability of the private banks and the central bank of control the Iraqi dinar exchange rate, even with these policies. ”

“The central bank has worked to identify the sales of foreign currency in the market to create a kind of balance between the price and the bank in the local market.”

For his part, President of the Association of private banks in Iraq, Nouri al-Wadih starting workshop expanded civil and private banks in coordination with the Central Bank to discuss the latest developments change the exchange rate of the Iraqi dinar against the U.S. dollar in the local market.

Nouri said that “the main objective of this workshop is to identify the mechanisms of cooperation in accordance with the new regulations issued by the central and include forcing private banks to deposit their capital with the central bank in the event of its desire to enter the auction of foreign currency held by the central bank every day.”

“The workshop will also discuss the design and planning of a clear policy to maintain the stability of the Iraqi dinar against foreign currencies and its impact on the value of the local currency.”

The decision of the Commission on Economy and Investment parliamentary Mahma Khalil: “The central bank is obliged to maintain the exchange rate of the Iraqi dinar and a balance must be maintained by the sovereign and the feature in the Iraqi economy because it is expected to be the Iraqi dinar economic identity in the region.”

Khalilzad said that “the price is still volatile and that stability is through control of the movement of the dollar and the market may not be a balance of Iraq in 2007, ten billion dollars and the exchange rate in 1200 and today our credit $ 76 billion later this year remains the exchange rate itself.”

For his part, said banking expert and executive director of the Association of private banks in Iraq, Abdul Aziz Hassoun “The arrival of the cash reserve to 80 billion dollars, enhances the value of the Iraqi dinar and ensure traders do and possessors upon trust and power, as it acts as a cover real currency.”

He said Hassoun he: “When you are in Iraq so guarantees will be provided external actors to cooperate with this country and invest in it, because it is considered an important indicator, and gives the amount supreme confidence in the Iraqi market for traders with dealers and contractors, and equipped foreigners.”

He said Hassoun that the CBI has issued new instructions to stabilize the exchange rate of the Iraqi dinar against foreign currencies through quotas weekly for banks and money transfer companies will increase and reduce the share exchange for a commitment each of them deliver the amounts they want customers from citizens.

The central bank announced earlier in the rise of the dollar reserves to 80 billion dollars, and 80 tons of gold, this reserve would provide significant support for the economy and the bulwark against the Iraqi currency fluctuations that you may encounter.

It is noteworthy that many of the international banks began to open branches in Iraq, invested great stability in the exchange rates of the dollar against the dinar, in addition to banking facilities good, and that made Iraq one of the favorite destinations for global banks. Ended 9

LINK

Dinar Daddy’s Tidbits

World Bank Proposes $3 Billion For Ukraine

The World Bank says it is prepared to offer $ 3 billion to Ukraine this year to help it advance reforms and support crucial development projects.

Bank President Jim Yong Kim said in Washington on July 10, “We are committed to supporting the people of Ukraine in these difficult times and very much hope that the situation in the country stabilizes soon.”

The Bank said the Ukraine economy faces some serious challenges that will require “urgent action in the short term”, as well as sustained reform over the longer term.

It mentioned key priorities of restoring macroeconomic stability, shoring up the country’s banks, reforms to the energy sector and “seriously tackling corruption.”

The $ 3 billion for 2014 would be in addition to an ongoing multiyear Bank investment and guarantee program in Ukraine totaling about $ 3.7 billion that supports development of crucial infrastructure services including water supply, sanitation, power and roads.

Based on reporting by AFP and dpa

Radio Free Europe / Radio Liberty

Economic Commission: We do not need to borrow from the World Bank

Committee warned the economy and investment representative, of the increase due to the financial burden the state to borrow from the World Bank for the implementation of large projects in the country.

The committee member said Jassim Chenkali Agency / JD /: ”
The claim by the Iraqi government to grant loans and from the World Bank for the implementation of the dry canal project will increase the financial burden of the state, because this is one of the big projects that need to monitor him money is difficult for the country repaid.”

He pointed out: that Iraq is still his trust paid off the remaining debt from banks to the global financial system since the former political and until now, when borrowing large sums of money from the World Bank will increase the burden of the state, particularly since these loans entail obligations and benefits increase in value per year.

He added that Iraq does not need these loans to the fact that he has a large financial budget is the largest in its history.

This has been signed by the Iraqi government represented by the Ministry of Construction and Housing contract with the World Bank funding dry canal project in Iraq, attended by the Minister of Construction and Housing Mohammad Darraji and Minister of Finance Agency purity of net debt and the World Bank representative Fred Belhadj.

This comes as part of a major project to develop and establish ways of a new strategy linking Iraq to neighboring countries, particularly the World Bank recognized the site of the Iraqi strategic and important for the development of global trade and passing through Iraq, where Iraq is the link between the East and the West. / End

LINK

Dinar Daddy’s Tidbits

Russian Central Bank Sold $11.3 Billion To Support Ruble

Russia’s central bank on March 5 said it had sold $ 11.3 billion in foreign currency to support the ruble on March 3, when the Russian currency came under unprecedented pressure amid the escalating crisis in Ukraine.

The amount was much higher than what financial experts estimated and is said to be one of Russia’s largest foreign currency interventions on record.

By comparison, the central bank spent $ 57 billion in December 2008 at the height of the financial crisis.

The ruble was relatively steady early March 5 against the dollar and euro, but Russian stocks fell amid investor nervousness about the Ukraine crisis.

In early morning trading, the ruble-denominated MICEX index was down 1 percent, with the dollar-denominated RTS down 1.1 percent.

The Russian market’s downward move on Wednesday was in contrast to positive developments on other global markets.

Based on reporting by AFP, Reuters, and ft.com

Radio Free Europe / Radio Liberty

Israel doubles West Bank outpost construction

The number of Israeli settlements being started in the West Bank more than doubled during 2013, the Israel central bureau of statistics has said.

The bureau said work began on 2,534 new housing units in the settlements in 2013, compared to 1,133 in 2012.

Monday’s announcement comes just hours before Israeli Prime Minister Benjamin Netanyahu is due to meet with President Barack Obama in Washington.

The two have long been at odds over Israel’s settlement policies, with Obama previously saying the continued building of settlements did not “advance the cause of peace.”

“We have seen more aggressive settlement construction over the last couple years than we’ve seen in a very long time,” Obama said in an interview with Bloomberg View columnist Jeffrey Goldberg published on Sunday.

“If Palestinians come to believe that the possibility of a contiguous sovereign Palestinian state is no longer within reach, then our ability to manage the international fallout is going to be limited.”

“It’s official, the Netanyahu government is committed to only one thing: building settlements. It shows the lack of commitment to negotiations,” a Peace Now statement said.

Obama is expected to try to persuade Netanyahu to accept a US framework for final peace talks with the Palestinians, but the Israeli leader has vowed to resist all “pressures.”

Obstacle to peace

Earlier this month, aid agencies highlighted the growing number of Israeli demolitions of Palestinian properties in the West Bank and East Jerusalem, despite renewed US-backed peace negotiations.

The number of demolitions increased by almost half, the displacement of Palestinians by nearly three-quarters, between July 2013, when the talks began, and the end of the year, compared to the same period in 2012, a statement released by 25 aid organisations on February 7 said.

On January 22, Israel announced plans for 382 homes in the occupied West Bank. Earlier in the same month it approved plans for 272 new homes in various illegal West Bank settlements followed by plans for more than 1,877 new units, some in occupied East Jerusalem.

Palestinians consider any settlements built beyond the pre-1967 territorial lines to be illegal and an obstacle to peace, while Netanyahu refuses to recognise the ‘Green line’ as a starting point for negotiations.

378

AL JAZEERA ENGLISH (AJE)

Russian Central Bank Announces Surprise Rate Hike

In an unexpected move, Russia’s central bank has raised its main interest rate to 7 percent from 5.5 percent.

The hike came as concerns mounted over the consequences of intervention in Ukraine for the Russian economy.

The Bank of Russia said the hike would take effect from 0700 GMT/UTC on March 3.

In a statement, it said the decision “is aimed at averting the appearance of risks for inflation and financial stability linked to the increased volatility on financial markets,” without specifically mentioning Ukraine.

Meanwhile, Russian stock markets opened down at least 6 percent and the ruble plunged to historic new lows on March 3.

The ruble was trading at 50 rubles to the euro and 36.85 rubles to the dollar.

Based on reporting by AFP, ITAR-TASS, and Interfax

Radio Free Europe / Radio Liberty

Bank Story

Spikedude19: A Great Bank Story!!!

I have a close friend who is a banker and I shared this investment with him. He was skeptical but bought $ 100.00 worth of dinar. After several months of me saying tomorrow, tomorrow this is happening he asked his bosses if this is legit. They said no it is a scam and it will never happen and to stay away from this.

He sold his currency back. He has been making fun of me that I am still working and this still has not happened. I told him I will prove it wrong, that it is happening.

Today he called me and told me that his bank had a meeting about the Iraq dinar. They were briefing everyone about foreign currencies, that the bank will be dealing with foreign currencies and how to process them.

He told me that they said the dinar was RVing and this was really going to happen globally. So all the banks are being informed. So now he’s a believer. It’s happening soon everyone. Hang in there everyone!

Dinar Daddy’s Tidbits

To resolve cash crisis Iraqi Kurdistan region $85m to bank

2-20-14 Business persons and investors of the Kurdistan region of Iraq have given $ 85m to the Central Bank of Kurdistan to help resolve the region’s cash crisis. It has been stated that the money will be used for paying salaries to the employees.

Teachers, laborers and some other workers have been on strike after weeks of delayed salaries.

According to the Iraqi Kurdish officials, the crisis has taken place when central government of Iraq did not send money to the Kurdish government. Leaders in Baghdad say the money has now been sent. Arbil and Baghdad are still locked in a dispute over Kurdistan’s independent oil exports.

Kurdish officials say Baghdad still owes the region billions of dollars in unpaid expenses. But the central government says Kurdistan has not calculated its expenses accurately. Iraq’s Kurdish deputy finance minister, Fazil Nabi, has resigned from his post due to Baghdad’s delay in paying Kurdistan’s salaries. But Iraq’s central government says the problem is simply because paying in cash is an outdated method.

LINK

Dinar Daddy’s Tidbits