Iraqi funds withheld by the U.S. central bank .. The Iraqi government is unable to act reservoir cas

Iraqi funds withheld by the U.S. central bank .. The Iraqi government is unable to act reservoir cash abroad Iraqi



BAGHDAD / future Iraqi
Said Source Early in the Central Bank of Iraq that the Iraqi government is unable to act reservoir cash abroad, because it is lodged with the U.S. central bank.


He stressed that the latter had already agreed with the United Nations and the Department of the Central Bank of Iraq to reject the transfer any amount outside the framework of the budget.

The experts predicted the end of the crisis CBI fear exposing big names in the political center and financial, which was confirmed by sources familiar with the investigation, pointing to a judicial decision to release the deputy governor of the Bank appearance in favor and 30 employees were arrested earlier, according to the newspaper «life» London .

The Supreme Judicial Council issued on 19 October last arrest warrant against the central bank governor and a number of officials in corruption cases, and arrested 32 staff with the governor's refusal to Shabibi decision.

The leaked from sources within the central bank details of the implementation of the arrest of the deputy governor and showed that the warrant included three officials are Governor Sinan al-Shabibi and his deputy, the appearance of Saleh and General Manager of the banking sector Ali Abu Nayla.

The sources added that Shabibi and Abu Nayla not surrender themselves to the concerned authorities, but Saleh turned himself in after the security authorities arrested some members of his family.

She noted that the investigators concluded achieved with the deputy governor and is satisfied that there is no evidence incriminating, and decided to end his detention on bail pending completion of the investigation, but the security authorities represented by the Ministry of Interior refused to release him or allow the media confronted inside prison «upper» in Baghdad.

A source close to the investigation committee that «the number of staff of the Central Bank beyond 1235, distributors headquarters and four branches in Nineveh and Basra, Dohuk and Sulaymaniyah. He explained that the number of detainees less than 30, including 22 female and four officials, explaining that the reason for their arrest was that they were members of the board committee, where four staff members are elected to serve under the authority of the Board of Directors.

He confirmed that investigators had evacuated the last for the members of the Committee and some employees because they are not really concerned. And the latest developments in the investigation pointed out that «the art is that the central bank adopted five banks eligibility to sell the dollar, and these banks offer to auction the bank to list in exchange for any amount of purchase, then implement the conversion and here are the responsibility of the Central implied not directly».

The «has not issued any arrest warrant against officials of private banks involved while making sure of its involvement money laundering operations or smuggled out of Iraq. He was a member of the Finance Committee parliamentary Hassan Ozmn announced told media three weeks ago, that Iraqi funds abroad are exposed to the risk of international trusteeship because of the participation of the United Nations to investigate the issue of the Iraqi Central Bank, expected to appoint UN special rapporteur to monitor the movements of Finance of Iraq, but the Iraqi Foreign Ministry denied this.

Noteworthy that the Iraqi Central Bank announced in August 2012 Iraq's reserves rise of hard currency to $ 67 billion from 63 billion. Furthermore, official denied the central bank can manipulate government these precautions, and said: «is still under the tutelage of the United Nations under paragraphs seventh item, and proceeds from the sale oil goes directly to the account itself, and even going out of the trusteeship is already present in the bank U.S. who refuses any requests issued by the Iraqi government regarding financial withdrawals outside the framework of the budget, and this is agreed with the United Nations to prevent any theft operations in Iraq, which continues to suffer instability.


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one special note, Noteworthy that the Iraqi Central Bank announced in August 2012 Iraq's reserves rise of hard currency to $ 67 billion from 63 billion.

lets not forget that Iraq has over 31TRILLION DINARS in circulation!!!!!

how does Iraq plan to reduce their money supply from 31 TRILLION to roughly 26 BILLION????

26 x $2.60 = 67 ,, almost 3 + !!!!! lol 91 BILLION =$ 3.50,, just a thought!!! lol



How much does Kuwait have in basket of currencies???? in circulation????
understand the point???? 3.55 US Dollar = 92 Billion

nuderstand that Iraqs MOF has always said that Iraq will return to their original value "pre UN sanction's", which was roughly $3.22USD to 1 IQD, Iraq at that time only had 26 BILLION IQD in circulation, notice that Iraq's goal is to reduce their 31 TRILLION dinars in circulation to 26 BILLION>,,, never forget .00086,, removing 3 zero's reduces Iraqs money in circulation from 31 TRILLION to 26 BILLION<,,, IRONIC???? NO, they were there before and will be there again, right now you can buy 1 MILLION DINARS for $860 (CBI), remove the 3 zero'sand now you have $1,000, total profit of $140, but Iraq's MOF has stated for years that IQD will return to the original "per UN sanction" value. That will 4x's your initial investment, WOW not bad!!!!

just a thought!!!! lol

This says it all... "still under the tutelage of the United Nations under paragraphs seventh item, and proceeds from the sale oil goes directly to the account itself, and even going out of the trusteeship is already"

They can't do much financially with this VII in the way.

By 1987 the banking system consisted of the Central Bank, the Rafidain Bank, the Agricultural, Industrial, and Real Estate banks. A 5 percent devaluation reduced the value of the dinar to US$3.2169, the official rate which remained until the Gulf War, although in late 1989, the black market rate was reported to be 1.86 dinars for US$1.
On July 14, 1964, all banks and insurance companies were nationalized, and, during the next decade, banking was consolidated. Following the devaluations of the U.S. currency in 1971 and 1973, the dinar rose to a value of US$3.3778.

oops .. lol


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duck2000 wrote:By 1987 the banking system consisted of the Central Bank, the Rafidain Bank, the Agricultural, Industrial, and Real Estate banks. A 5 percent devaluation reduced the value of the dinar to US$3.2169, the official rate which remained until the Gulf War, although in late 1989, the black market rate was reported to be 1.86 dinars for US$1.
On July 14, 1964, all banks and insurance companies were nationalized, and, during the next decade, banking was consolidated. Following the devaluations of the U.S. currency in 1971 and 1973, the dinar rose to a value of US$3.3778.

oops .. lol


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.....an Saddam took power in what year? he made it up ..............oops.

No even the IMF says the rate was there too in fact the rate was 2.80 in 1959 and that was before Saddam and then when the USD was devalued in the 70's Iraq just reflected the dinar value in the new devalued dollar rate.

1 April 1978 -16 October 1982

hard peg, 1 Iraqi dinar = US$3.3778

hard peg, 1 Iraqi dinar = US$3.3778

1 April 1978

before saddam took power game set and match !LOL

hes my hero .. lol

addām Ḥusayn ʿAbd al-Maǧīd al-Tikrītī;^{[You must be registered and logged in to see this link.]} 28 April 1937



rumor has it he was in charge of the dinar even then .. lol