Currency Conversion And Transfer Policies

Administrator Assistant Posts: 6271 Joined: 2008-06-24

Currency Conversion And Transfer Policies

The currency of Iraq is the Dinar (IQD - sometimes referred to as the New Iraqi Dinar). The Iraqi authorities confirm that in practice there are no restrictions on current and capital transactions involving currency exchange as long as underlying transactions are supported by valid documentation. However, it is unclear whether currency convertibility is entirely free from exchange restrictions. The National Investment Law contains provisions that, once implemented, would allow investors to bank and transfer capital inside or outside of Iraq.

The Government of Iraq’s monetary policy since 2003 has focused on maintaining price stability and exchange rate predictability. Banks may engage in spot transactions in any currency, but are not allowed to engage in forward transactions in Iraqi Dinar for speculative purposes. The Central Bank of Iraq (CBI) can intervene, when necessary, in order to maintain stability in the foreign exchange market. There are no taxes or subsidies on purchases or sales of foreign exchange. Improved security has allowed for an increased supply of goods and services, which has reduced inflationary pressures as compared to 2006. The Central Bank has implemented effective monetary and exchange rate policies that continue to help temper inflation.

http://www.state.gov/e/eeb/ifd/2008/100879.htm

Site Admin Posts: 5254 Joined: 2008-06-24

Thank you Keonee!

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Dinar Trade Inc., Cash In Proceedures

Subject: Re: Currency Conversion And Transfer Policies Thu Dec 04, 2008 3:43 pm

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NNP's AAN GROUP LINK
Mention NNP/Neno for Discount from Dinar Trade
Dinar Trade Inc., Cash In Proceedures
EDWARD JONES Info for Accounts With No Limits & Insured to $1 Billion

Subject: Re: Currency Conversion And Transfer Policies Thu Dec 04, 2008 5:12 pm

Thanks Keonee

Extreme Poster Posts: 2167 Age: 55 Joined: 2008-07-01

Thanks Keonee!!!!

Subject: Re: Currency Conversion And Transfer Policies Thu Dec 04, 2008 9:34 pm

nice find keonee.

Big Poster Posts: 70 Joined: 2008-08-20

Huh...What am I missing here? Doesn't this raise more questions than it answers?

Thanks for finding this...Do you have any idea how it affects our investment and an eventual RV? I am ready to be enlightened. And kinda scared of the explanation.

I gotta find the section here that lists what laws have been published in the Gazette...Coulda sworn the NIL passed awhile back...

Thanks for your research, OOSTUOO!

PAF

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... comment after vieeing if you like, Ali sent this over..

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