Frank26 says - We believe that they lifted the 3 zeroes electronically.

by **Rocky** Tue 06 Aug 2019, 2:57 am

Rocky: Admin Assist; Posts : 268443
Join date : 2012-12-21

Post n°1

Frank26 says - We believe that they lifted the 3 zeroes electronically.

by Rocky Tue 06 Aug 2019, 2:57 am

Frank26 says - We believe that they lifted the 3 zeroes electronically.

by Ponee Yesterday at 10:14 pm

Guru Frank26

  ...About 2 weeks ago the IMF came out and told the whole world that Iraq is Article VIII and the only way they can be Article VIII is if they lifted the value of their currency because it's one of the mandates of the IMF.

We believe that they lifted the 3 zeroes electronically.
The theme of "international" is everywhere...ever since the IMF said they are Article VIII...Why don't they tell us?

Ever since that time, IMO, the CBI has been coming out almost daily defining that they are Article VIII & if it isn't the CBI it's somebody else...everybody knows...

08.04.2019

by azareus Tue 06 Aug 2019, 3:42 am

azareus

azareus: All In Investor; Posts : 1279
Join date : 2012-12-20

Post n°2

Re: Frank26 says - We believe that they lifted the 3 zeroes electronically.

by azareus Tue 06 Aug 2019, 3:42 am

My god

by Screwball Tue 06 Aug 2019, 5:15 am

Screwball

Screwball: Interacting Investor; Posts : 3484
Join date : 2012-12-19

Post n°3

Re: Frank26 says - We believe that they lifted the 3 zeroes electronically.

by Screwball Tue 06 Aug 2019, 5:15 am

Flogs

by **wciappetta** Tue 06 Aug 2019, 5:49 am

wciappetta

wciappetta: NNP TEAM; Posts : 5298
Join date : 2012-12-20

Post n°4

Re: Frank26 says - We believe that they lifted the 3 zeroes electronically.

by wciappetta Tue 06 Aug 2019, 5:49 am

There's not a shoehorn strong enough to stretch that thought into reality. That's all types of upside down thinking.... Again, all IMF member states agree to chapter VIII principles though some nations like Iraq are not fully compliant as of yet. You can't talk about international and a secret in country exchange rate change in the same breath. Now if you were talking two sets of rates running parallel to each other for comparison, we know that's been done since the beginning. Anyone remember the bank of Baghdad annual report from 2004?

_________________
In the beginning was the Word, and the Word was with God, and the Word was God.... For from His fullness, we have all received and grace upon grace. For the Law was given through Moses; grace and truth came through Jesus Christ. No one has ever yet seen God. The only begotten God, the One being in the bosom of the Father, He has made Him known. - Berean Literal Bible

by Screwball Tue 06 Aug 2019, 5:50 am

Screwball

Screwball: Interacting Investor; Posts : 3484
Join date : 2012-12-19

Post n°5

Re: Frank26 says - We believe that they lifted the 3 zeroes electronically.

by Screwball Tue 06 Aug 2019, 5:50 am

wciappetta wrote:There's not a shoehorn strong enough to stretch that thought into reality. That's all types of upside down thinking.... Again, all IMF member states agree to chapter VIII principles though some nations like Iraq are not fully compliant as of yet. You can't talk about international and a secret in country exchange rate change in the same breath. Now if you were talking two sets of rates running parallel to each other for comparison, we know that's been done since the beginning. Anyone remember the bank of Baghdad annual report from 2004?

Yep...and once upon a time ago had a copy...but that was three computers ago

by **wciappetta** Tue 06 Aug 2019, 5:59 am

wciappetta

wciappetta: NNP TEAM; Posts : 5298
Join date : 2012-12-20

Post n°6

Re: Frank26 says - We believe that they lifted the 3 zeroes electronically.

by wciappetta Tue 06 Aug 2019, 5:59 am

lol

_________________
In the beginning was the Word, and the Word was with God, and the Word was God.... For from His fullness, we have all received and grace upon grace. For the Law was given through Moses; grace and truth came through Jesus Christ. No one has ever yet seen God. The only begotten God, the One being in the bosom of the Father, He has made Him known. - Berean Literal Bible

by Diamond Tue 06 Aug 2019, 6:05 am

Diamond

Diamond: Interacting Investor; Posts : 2206
Join date : 2012-12-23

Post n°7

Re: Frank26 says - We believe that they lifted the 3 zeroes electronically.

by Diamond Tue 06 Aug 2019, 6:05 am

wciappetta wrote:There's not a shoehorn strong enough to stretch that thought into reality. That's all types of upside down thinking.... Again, all IMF member states agree to chapter VIII principles though some nations like Iraq are not fully compliant as of yet. You can't talk about international and a secret in country exchange rate change in the same breath. Now if you were talking two sets of rates running parallel to each other for comparison, we know that's been done since the beginning. Anyone remember the bank of Baghdad annual report from 2004?

by **wciappetta** Tue 06 Aug 2019, 6:28 am

wciappetta

wciappetta: NNP TEAM; Posts : 5298
Join date : 2012-12-20

Post n°8

Re: Frank26 says - We believe that they lifted the 3 zeroes electronically.

by wciappetta Tue 06 Aug 2019, 6:28 am

Here it is....

Balance 2004
http://www.bankofbaghdad.net/2004.htm

[rtl]General Budget 2004[/rtl]

[rtl]Chairman of Managing Council Speech:[/rtl]

[rtl]Ladies and Gentlemen stockholders of Baghdad Bank:[/rtl]

[rtl]Iraq had been through some unusual circumstances within the last two years like instability and lack of security that have had a destructive impact on economy, investment and industrial production, but, despite of all that Baghdad Bank achieved a big success during the financial year of 2004 in comparison to the previous financial year and the most important index to that is balancing US dollar price with the current price of 1460 ID[/rtl]

[rtl]Baghdad bank has taken also serious steps towards opening Al-Bayaa branch at the end of 2004 and rented a location for Al-Suliemaniya branch which shall be opened in March 2005 in addition to the expansion of Baghdad bank activities on the international level as it has made banking connections with many international banks. worth mentioning that Baghdad Bank started putting into practice new systems in Mansour, Palestine and Bayaa branches.[/rtl]

[rtl]Presently such systems are being put into practice in the general center and general management to be spread later on to the other branches. Baghdad Bank has also signed a contract to use (SWIFT) system in external transfers in 2005. This system shall be run during the above mentioned year.[/rtl]

[rtl]I would to inform all the stockholders of Baghdad Bank that the report of the managing council 2004 was prepared according to the demands of Central Bank of Iraq to balance US dollar price to 0.310 ID instead of its real value (1460) ID per 1 US dollar, so, the report and general budget do not necessarily reflect the actual situation of Baghdad Bank and the volume of economical incoming indexes, so, this report was issued in order to meet the demands of the rules and instructions.[/rtl]

[rtl]The General Institution of Baghdad Bank that was held on November 16 2004 had taken a decision to make a partnership with Gulf Bank and Iraqi Payee Company with percentage of 49 %, increasing Capital to approximately 10.000.000.000 ID. We would like to inform stockholders of the bank that Central Bank of Iraq reclaimed that the increase of capital to 52.963.600.000 ID all at once instead of two stages. The managing council of the bank and new stockholders agreed to meet the demands of Central Bank of Iraq as long as they do not affect the basis of partnership that all sides have agreed upon in the previous meeting of the General Institution of Baghdad Bank and we are waiting for the final resolution of Central Bank of Iraq about our above mentioned approval.[/rtl]

[rtl]And hereby I express my deep appreciation to Central Bank of Iraq and department of company registration to their utilitarian and constructive roles in supporting Baghdad Bank and Iraqi economy in general. I also appreciate the honorable situation of all personnel of the bank for preservation of bank properties and for their exceptional efforts in hard times that Iraq had been through within the last two years.[/rtl]

[rtl]Dr. Monib Khalil Al-Skooti[/rtl]

[rtl]Chairman of managing council[/rtl]

[rtl]Net Profit and How to Deal with it:[/rtl]

[rtl]Baghdad Bank realized gross profit of 3.109.000.000 ID during 2004 this amount equals 59% out of its paid capital which is to be discounted from this profit:[/rtl]

[rtl]Managing council of Baghdad Bank thinks that distributing profit realized in 2003 and 2004 to stockholders that[/rtl]

[rtl] is about 2.246.506.176 ID which equals 43% out of the capital of the bank[/rtl]

[rtl]Reserve Fund and Owings of Stockholders:[/rtl]

[rtl]Owings of stockholders increased from 3.700.000.000 ID[/rtl]

[rtl] in 2003 to 8.600.000.000 ID in 2004[/rtl]

[rtl] that equals 132% and the share of capital reserve fund of the profits of 2004 was[/rtl]

[rtl] approximately 448.000.000 ID, so, reserve[/rtl]

[rtl] fund was increased to 1.053.000.000 ID, and reserve of fixed deposits increased to 55.000.000 ID.[/rtl]

[rtl]The following table includes a detailed list demonstrating development of capital, reserve funds and stockholders’ owing in comparison to previous year.[/rtl]

Assets

Account name	2004 I.D.	2003 I.D.
Assets
Cash in hand & at banks	16.359.903.887	37.041.063.542
Investment	16.211.065.318	8.873.007.912
Cash loans and advances
Commercial bills discounted & purchased	3.165.101.675	3.076.711.864
Loans & advances	14.171.611.502	6.113.669.395
	17.336.713.177	9.190.381.259
Debtors & debit balances	7.867.640.718	7.376.909.335
Fixed assets	4.102.579.988	3.511.282.583
Total assets	11.970.220.706	65.992.644.631
Contra accounts
Customers liabilities for banking operation (less total)	2.325.327.348	503.046.749
Total	64.203.230.437	66.495.691.380

Liabilities

Account name	2004 I.D.	2003 I.D.
Liabilities
Current liabilities
Current accounts & deposits	49.006.168.708	39.410.007.997
Creditors & credit balances	4.237.174.590	22.836.844.857
Total current liabilities	35.243.343.298	62.246.852.854
Fixed liabilities
Paid-up capital	5.280.000.000	2.640.000.000
Reserves	3.354.559.790	1.105.791.777
Total fixed liabilities	8.634.559.790	3.745.791.777
Total liabilities	61.877.903.088	56.992.644.631
Contra accounts
Bank liabilities for banking operations (less deposits)	2.325.327.348	503.046.749
Total	64.203.230.437	66.495.691.380

Profit and loss and appropriation account for the year 2003

Account name	2004 I.D.	2003 I.D
Revenues of current activities
Banking operation revenue	5.050.996.873	1.964.450.088
Investment revenue	753.315.426	283.044.777
	5.804.312.300	224.749.4865
Les-expenses of current activities
Banking operations expenses	1.398.409.117	1.007.757.657
Depreciation	53.170.909	121.194.739
Administration expenses	1.375.111.573	691.855.366
	2.826.691.598	1.820.807.762
Profit of current activities	2.977.620.702	426.687.103
Add other revenues	237.891.513	250.253.346
Less-transferable & other expenses
Transferable expenses	35.207.098	30.379.283
Other expenses	71.103.075	42748545
	106.310.173	73.127.828
Net profit-distributed s follows:	3.109.202.042	603.812.621
Provision for income tax	245.331.403
Provision for social security
Capital reserve as per central bank law	448.398.655	120.762.524
Provision for doubtful debts	621.877.364
Undistributed profit	1.793.594.619	483.050.097
Total	2.863.870.638	603.812.621

_________________
In the beginning was the Word, and the Word was with God, and the Word was God.... For from His fullness, we have all received and grace upon grace. For the Law was given through Moses; grace and truth came through Jesus Christ. No one has ever yet seen God. The only begotten God, the One being in the bosom of the Father, He has made Him known. - Berean Literal Bible