| | Currency Conversion And Transfer Policies |    |
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Keonee
Site Admin
Posts: 3742
Joined: 2008-06-24
 |  Subject: Currency Conversion And Transfer Policies  Thu Dec 04, 2008 2:13 pm | |
| 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 |
|  | | wyogal
Super Moderator
Posts: 3167
Joined: 2008-06-24
| | Subject: Re: Currency Conversion And Transfer Policies Thu Dec 04, 2008 4:19 pm | |
| Thank you Keonee!
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"Be yourself because everyone else is taken!"
"If my heart had a face...it would be smiling!" |
| | | | Neno
Admin
Posts: 5252
Location: Lone Star State
Joined: 2008-06-22
| | | | | gtg8
Big Poster
Posts: 102
Location: San Francisco
Joined: 2008-07-05
| | Subject: Re: Currency Conversion And Transfer Policies Thu Dec 04, 2008 7:12 pm | |
| | Thanks Keonee |
| | | | GWT54
Master Poster
Posts: 1780
Location: Fort Smith,AR.
Joined: 2008-07-01
| | Subject: Re: Currency Conversion And Transfer Policies Thu Dec 04, 2008 8:36 pm | |
| Thanks Keonee!!!!  |
| | | | OOSTUOO
Moderator
Posts: 826
Location: Koolaid Foundation Headquarters
Joined: 2008-07-05
| | Subject: Re: Currency Conversion And Transfer Policies Thu Dec 04, 2008 11:34 pm | |
| | nice find keonee. |
| | | | Pot Au Feu
Big Poster
Posts: 55
Joined: 2008-08-20
| | Subject: Re: Currency Conversion And Transfer Policies Fri Dec 05, 2008 6:04 am | |
| 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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| According to the Wall Street Journal, "Iraq's central bank is on the verge of approving three foreign banks to offer financial services such as foreign exchange. | | Fri Jul 03, 2009 8:58 am by azdinar | Brought this over from iif forum hoping maybe someone here has subscription to Wall Street Journal
ANYONE HAVE ACCESS TO THE WALL STREET JOURNAL TAKE A GOOD LOOK!
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Many in the dinar market ar...
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| Military reveals most U.S. troops leave Iraq within months | | Fri Jul 03, 2009 8:52 am by Cat561 | Military reveals most U.S. troops leave Iraq within months
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The...
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| And a complete withdrawal from Iraq | | Fri Jul 03, 2009 8:27 am by Cat561 | And a complete withdrawal from Iraq
03/07/2009 Friday, 11 - -1430 e Rajab
Vice President Joseph Biden told reporters accompanying him on his surprise visit to Iraq that Washington was committed to pull out of Iraq and the achievement of political consensus among Iraqi factions.
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| Iraqi Prime Minister Nouri Kamal Al-Maliki, Critical of Consensus Democracy, Calls for a Presidential System | | Fri Jul 03, 2009 8:33 am by KCANBS |
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| Turkmen in Iraq have united the words | | Fri Jul 03, 2009 8:29 am by Cat561 | Turkmen in Iraq have united the words
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| Is Iraq stable enough to cope without U.S. troops? | | Fri Jul 03, 2009 8:20 am by azdinar | -Tim Cocks is a Reuters correspondent based in Baghdad.-
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| Jordanian newspaper: Iosion Iraqis, U.S. officials meet in Amman | | Thu Jul 02, 2009 11:04 am by KCANBS | Jordanian newspaper: Iosion Iraqis, U.S. officials meet in Amman
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| Pentagon confirms that the security situation in Iraq is a stable well - | | Thu Jul 02, 2009 8:27 am by Cat561 | Pentagon confirms that the security situation in Iraq is a stable well -
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| Swedish diplomatic back to Baghdad after the eighteen year | | Wed Jul 01, 2009 11:30 pm by day dreamer | Swedish diplomatic back to Baghdad after the eighteen year
Parallel with the start of the U.S. withdrawal
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[right:...
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