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Post by clayf on Wed Jul 11, 2012 11:06 am

Most Iraqi Banks Meet New Capital Requirements

Posted on 11 July 2012. Tags: Capital Increases

more news/up-down-all around One_billion_dollarsBy John Lee.
Most
of Iraq’s 34 private banks have met the central bank’s 30th June
deadline to reach the 150 billion Iraqi dinar ($128.8 million) capital
requirement, reports Reuters.
The schedule drawn up in 2009
required the banks to reach capital levels of 100 billion Iraqi dinar by
the end of June 2011 (which most of them did), 150 billion Iraqi dinar
by June 2012, and 250 billion Iraqi dinar by June of next year.
Abdul-Aziz Hassoun, executive director of the Iraqi Private Banks League, said “80 percent of the banks have increased their capital, some of them have increased it even more than the required levels“.
The banks which did not succeed in raising their capital have asked the central bank for a grace period until the end of the year, Mudher Kasim, deputy governor of the Central Bank, said. “We are not very strict in this issue…but at the same time we cannot give a hint that our decisions could be rolled back“, he added.
Hassoun said he would prefer the central bank to encourage failed banks to merge.
(Source: Reuters)

“No Appropriate Time” to Delete Zeros from Iraqi Dinar

Posted on 11 July 2012. Tags: dinar, IQD, iraqi dinar, re-denomination, re-valuation, Redenomination, revaluation

more news/up-down-all around 10000-Iraqi-dinar-note1By John Lee.
MP
Abdul Hussein Raisan, of the Ahrar bloc, has said that deleting the
three zeros from the Iraqi currency was “inappropriate due to the
present economic conditions”.
Citing a lack of real reforms in the
banking sector, he said that the economic situation is not suitable for
such a change, according to a report from Aswat al-Iraq.
The
Parliamentary Economic and Investment Commission said in a press
statement that “the currency should be changed in form and value, which
requires a special law”.
The “Premiership Secretariat General”
(sic) said deleting the three zeros should be postponed because
withdrawing and burning 40 trillion Iraq dinars needs further study.
(Source: Aswat al-Iraq) http://www.iraq-businessnews.com bounce
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Post by clayf on Wed Jul 11, 2012 11:08 am

Thats it! time to change my picture rabbit
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Post by IQD4US on Wed Jul 11, 2012 5:27 pm

Fortunately - these are individual people expressing their opinions - like a political move.

If the whole government is for it - the people will get scared that "government" is making a play to take their money again.

If someone speaks against it, and the people see the arguments - they feel represented - and that the government may be working for the nation as a whole.

and of course - if it flops - what a great way to be re-elected - be the one that spoke against it....

Sounds to me like Iraq has learned this "democracy" bullcrap on how to be the "important" political figure....lol

C'mon Shabibi - slap them down
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Post by Guest on Wed Jul 11, 2012 6:02 pm

250 billion by next june....

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Post by IQD4US on Wed Jul 11, 2012 6:06 pm

punisher wrote:250 billion by next june....

Right now that is only $213,675,213.67 USD - not alot...and at an RV of 1:1 still not alot - although that is "per bank"
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Post by Guest on Wed Jul 11, 2012 6:10 pm

@IQD4US wrote:
punisher wrote:250 billion by next june....

Right now that is only $213,675,213.67 USD - not alot...and at an RV of 1:1 still not alot - although that is "per bank"

Enough to rv?

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Post by IQD4US on Wed Jul 11, 2012 6:14 pm

paper is paper..that is all ..no more

with the right equipement, I could produce paper as currency - but it doesn't make it worth anything, so them saying 30th June deadline to reach the 150 billion Iraqi dinar doesn't mean crap.

Now what they have in resources to "back the bill" - they have and have had enough to RV. What they need is international recognition of that currency.
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Post by Guest on Wed Jul 11, 2012 6:26 pm

@IQD4US wrote:paper is paper..that is all ..no more

with the right equipement, I could produce paper as currency - but it doesn't make it worth anything, so them saying 30th June deadline to reach the 150 billion Iraqi dinar doesn't mean crap.

Now what they have in resources to "back the bill" - they have and have had enough to RV. What they need is international recognition of that currency.

Hopefully by the 28th they will be lifted...

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Post by Terbo56 on Wed Jul 11, 2012 6:35 pm

Hang on to that dream- This should have gone down 9 years ago-:shock:
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Post by Guest on Wed Jul 11, 2012 6:43 pm

@terbo56 wrote:Hang on to that dream- This should have gone down 9 years ago-:shock:

So im a dreamer now :(

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Post by Terbo56 on Wed Jul 11, 2012 6:53 pm

I didn't say that- You just did- Like I said,they should have done this 9 years ago, when the dinar was fresh-If it does in fact happen by the 28th,all well in good,but look how many times they were supposed to have done something, and they didn't- We'll just have to wait and see, that's all, jus' sayin-:o
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Post by Guest on Wed Jul 11, 2012 7:13 pm

I agree. Time will tell...

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Post by Terbo56 on Wed Jul 11, 2012 7:15 pm

Yep- That's for sure-:cheers:
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