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

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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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duck2000 wrote:

before saddam took power game set and match !LOL

I guess the vice president has no power...... Thanks duck your so informative.

Cross-Eyed Mary wrote: I guess the vice president has no power...... Thanks duck your so informative.

Fixed exchange rate
From March 18, 1975 to January 4, 2003 the dinar was pegged to a weighted currency basket. From January 5, 2003 until May 20, 2007, the pegging was switched to 1 U.S. dollar = 0.29963 dinar with margins of …±3.5%. The central rate translates to approximately 1 dinar = 3.33745 dollars.

The dinar (ISO 4217 code KWD) is the currency of Kuwait. It is sub-divided into 1000 fils. It is the highest-valued currency unit in the world.

couldnt just be that this rate was just an oil area thing ?
instead of flapping lips try reading .. you just might learn .. somehting .. lol

The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental Organization, created at the Baghdad Conference on September 10–14, 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The five Founding Members were later joined by nine other Members: Qatar (1961); Indonesia (1962) – suspended its membership from January 2009; Libya (1962); United Arab Emirates (1967); Algeria (1969); Nigeria (1971); Ecuador (1973) – suspended its membership from December 1992-October 2007; Angola (2007) and Gabon (1975–1994). OPEC had its headquarters in Geneva, Switzerland, in the first five years of its existence. This was moved to Vienna, Austria, on September 1, 1965.

OPEC's objective is to co-ordinate and unify petroleum policies among Member Countries, in order to secure fair and stable prices for petroleum producers; an efficient, economic and regular supply of petroleum to consuming nations; and a fair return on capital to those investing in the industry.


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guess saddam snuck over to kuwait BEFORE hand and fixed there rate too ... lol

opec was in charge of the rates backed by the IMF .. so all your theories are out da window .like all ways .. !

duck2000 wrote:
guess saddam snuck over to kuwait BEFORE hand and fixed there rate too ... lol

opec was in charge of the rates backed by the IMF .. so all your theories are out da window .like all ways .. !

REALLY! Now I AM confused cause I never knew that from my readings... lol

Well me as a NOT so SMART investor, just looking at a more practical side of ALL this.....it wouldn't seem to make too much common sense to have all the countries around them at a MUCH higher value if they RV and them at penneys.....just wouldn't make any sense atall!!!! especially when they are like # 2 in Oil out put!! no sense atall!!

REALLY! Now I AM confused cause I never knew that from my readings... lol

your not confused, just miss led, as OPEC is an "Organization" According to its [You must be registered and logged in to see this link.], one of the principal goals is the determination of the best means for safeguarding the organization's interests, individually and collectively. It also pursues ways and means of ensuring the stabilization of prices in international [You must be registered and logged in to see this link.] with a view to eliminating harmful and unnecessary fluctuations; giving due regard at all times to the interests of the producing nations and to the necessity of securing a steady income to the producing countries; an efficient and regular supply of [You must be registered and logged in to see this link.] to consuming nations, and a fair return on their capital to those investing in the petroleum industry

The # 1 oil producer in the world is Saudi Arabia, money value of .27 cents to the dollar

The #11 oil producer in the world is Kuwait, money value of $3.55 to the dollar

These countries only produce what OPEC allows them, remember when Saudi Arabia started producing more Oil to make up the difference of Iran's santion's, without Saudi agreeing to do this would have created an "oil shortage" driving oil prices up. cause these oil producing countries have a limit on how many barrels a day they can produce.

anybody who says OPEC is in charge of the RATES set by the IMF, please produce a link from the IMF backing that statement to eliminate "confusing" other investor's, and don't forget who the #1 and #11 oil producer's of the world are!!!

just a thought!!!! lol

duck2000 wrote: 1 U.S. dollar = 0.29963 dinar with margins of …±3.5%. The central rate translates to approximately 1 dinar = 3.33745 dollars.

couldnt just be that this rate was just an oil area thing ?
instead of flapping lips try reading .. you just might learn .. somehting .. lol

No you right, but Plus or minus 3.5%? I mean 3.5% of 0.29963 is 0.309465 so even at the high end it's 0.609095......... but you can just give me 68

Franky wrote:Well me as a NOT so SMART investor, just looking at a more practical side of ALL this.....it wouldn't seem to make too much common sense to have all the countries around them at a MUCH higher value if they RV and them at penneys.....just wouldn't make any sense atall!!!! especially when they are like # 2 in Oil out put!! no sense atall!!

Yeah Mexico is going to RV at the first of january 2014 just because Canadia an the United States exchange rate to so high above mexico's that there currency needs to skyrocket.

seeing how OPEC only allows only so many barrles it does set the rate ! check again .. lol

read people .. lol

duck2000 wrote:seeing how OPEC only allows only so many barrles it does set the rate ! check again .. lol

read people .. lol

wait, there's no explanation for that 3.5%? ........AHHHH Who am I to question the NenosPlace jesus.