Post From Dinar Alert
DA Member News Highlights & Comments Early Sunday 1-21-18
Tgirl Administrator Central Bank of Iraq (CBI) News > Alaq announces the opening of a new branch of the central bank in Najaf
Tgirl Administrator Saturday 20 January Alsumaria News / Najaf
The governor of the Central Bank of Iraq Ali Alalak, Saturday, close to the opening of a new branch of the Central Bank in the province of Najaf, while the new branch will provide services to the Middle Euphrates .
"We will open a new branch of the central bank soon in Najaf to provide services to the Middle Euphrates," Alaq said at a press conference held at the Rafidain Center for Dialogue in Najaf province.
Post From IQDCalls Chat Room
Chat Room News Excerpts & Highlights Early Sunday 1-21-18
xyz: cbi: "We are working on the development of certain objectives and programs in agreement with the International Monetary Fund to improve the financial situation and prevent a financial crisis in the future."
xyz: World Bank data showed Sunday that Iraq's financial coverage was 11.0 percent, ahead of a number of Arab countries. Financial coverage, known as financial spread, is the ability of the banking system to provide banking services to the largest number of segments of society at reasonable costs, and can be expressed in several measures, most notably the proportion of individuals over the age of 15 who have bank accounts in the banking system.
Samson: Posting on behalf of Tim - a look back in time : The link has the date as 20th November, 2003
Welcome to "Ask the White House" -- an online interactive forum where you can submit questions to Administration Officials and friends of the White House.
Hugh Tant III
It is terrific to be with you. I would like to thank you for the opportunity to address your questions this evening. I am talking to you from the ICE (Iraqi Currency Exchange) project room in one of Saddam's palaces. We like to call it the ICE box.
Around the walls are various colorful pictures of the old currency (featuring Saddam) and the new currency (without Saddam). In addition to the currency posters around the room, there are various maps and charts that help us map the delivery of the Iraqi currency throughout the country.
All eyes will be on Davos 2018, but what can we expect?
20th January, 2018
What is Davos?
It's a small town in the Swiss Alps, about 92 miles from Zurich. Most of the year it's filled with skiers and walkers. A fascinating but little known fact is that it is the highest town in Europe.
But, more importantly, once a year, for a week in January, it is home to the World Economic Forum.
Stand4Christ: Another interesting random IMO thoughts I would like to share .................
I think I might begin see why Iraq wants to do the RI at the beginning of a year (because Iraq's fiscal year begins in January), but NOT right at the "beginning beginning" of a year (for example, first week of 2018).
Because Iraq doesn't need to pay his people until the end of January 2018, so, Iraq can collect almost 1 full month of tax revenue based on a pre-RI rate.
You see, let say, if 1 dozen eggs costs IQD 1000, and let say tax is 5% that, each dozen eggs sold, the government gets IQD 50. Let say, normally speaking, 1000 dozens eggs sold in Iraq each month, then before RI, Iraq's tax revenue from eggs alone will be about IQD 50K per month.
However, when they pay people based on the new RI rate, egg price will also begin to drop quickly : let say, it takes 1 month (think of this as the "second month") to drop from IQD 1000 to IQD 1, after that, in the third month, 1 dozen eggs price will still remain at IQD 1 (that means, price stabilized).