ISX and dinar correlation... opening

[highrollr19]

This is a question that is posed to anyone who might have any knowledge on the subject.

With the ISX due to open up to foreign investors on Aug. 18th (I believe), shouldn't the dinar open then as well? The reason I ask is... for foreigners to invest in the market, they will need a way to convert their money (US, Euro, Yen etc) into dinar. Since the dinar is not a publicly traded currency, how is that going to be accomplished? Wouldn't it make more sense to open the dinar the same date? If their is no "official" exchange rate once investors look to buy stocks in the ISX, then how are they going to convert their money to dinar?

I know about Warka and the other banks that will do it for you, but many people seem skeptical of a bank they have never seen, and are very hesitant to invest that way. Especially since if the country where that bank is located is ever under martial law (like iraq is now), the government has the right to null all foreing investments in their banks.

Wouldn't it bring "a lot" more investors and thus more money into the Iraqi economy if they would just go ahead and open the dinar next week as well?

Sorry that was so long, but it was a thought that I have been thinking about

[Jen39503]

highrollr,
actually thats a very good point that i hadnt thought of. ..unless they list it in US $??
it will be interesting to read the comments that people have.
is it for sure the ISX is opening on the 18th? You know theres a rumor going around that the dinar is supposed to open then :lol:
jen

[Blake]

Personally, I don't believe they are necessarily linked in that fashion. There is a current offical exchange rate, and we are aware of limited ways in which we can invest in the ISX(opening Iraqi bank accounts in both dollars and dinars).

[Monty]

With the ISX due to open up to foreign investors on Aug. 18th (I believe),
Hey Highrollr, where did you get the information (if any) that it opens on Aug 18th to foreign investors? I received another email from R saying there is no date set yet.

If you know any additional information, let us know. Thanks


Monty

[Nico]

Opening on the 18th? Alotta speculation going on but in any event I can wait til D-2-D day.

[Mysterious11]

Highlighted Tender: Automation of Iraq Stock Exchange
Solicitation Number: W914NS-04-R-0163
Posted Date: 14-Jul-2004
Close Date: 16-Aug-2004
Description: The solicitation is for the design and installation of a system including all hardware and software necessary to automate the Iraq Stock Exchange.
Original Point of Contact: Charles Hurry, Contracting Officer, Phone: 703-343-9225; E-mail: Charles.Hurry@CPA-IQ.ORG

This is the information regarding the contract fro the automation of the ISX. However, a closing date for proposals has been extended from 16 Aug to 6 September. A website has been set up for questions and answers about solicitation. http://155.75.95.204/contracting/.

Due to the nature of the ISX not being automated yet and the extention for proposals, I don't believe the ISX will open to foriegn investors until it becomes automated. It would be to difficult for foreign investors to track, buy and sell their stocks. Not trying to rain on anyone's parade just some info I came across a few days ago.

[Blake]

Highlighted Tender: Automation of Iraq Stock Exchange
Solicitation Number: W914NS-04-R-0163
Posted Date: 14-Jul-2004
Close Date: 16-Aug-2004
Description: The solicitation is for the design and installation of a system including all hardware and software necessary to automate the Iraq Stock Exchange.
Original Point of Contact: Charles Hurry, Contracting Officer, Phone: 703-343-9225; E-mail: Charles.Hurry@CPA-IQ.ORG

This is the information regarding the contract fro the automation of the ISX. However, a closing date for proposals has been extended from 16 Aug to 6 September. A website has been set up for questions and answers about solicitation. http://155.75.95.204/contracting/.

Due to the nature of the ISX not being automated yet and the extention for proposals, I don't believe the ISX will open to foriegn investors until it becomes automated. It would be to difficult for foreign investors to track, buy and sell their stocks. Not trying to rain on anyone's parade just some info I came across a few days ago.Very nice job.

[Mysterious11]

Thank You Blake. Any info helps is how I see it.

[kvb]

Maybe I'm confused by what you mean by ISX opening in Aug/Sept but I thought it is already open.
Is this date referring to it being open to foriegn investors and available on the world market?

[Mysterious11]

The ISX is open but....it is only open to the people in Iraq and not to foreign investors. Right now they are seeking proposals to make the ISX automated. The closing date for proposals was originally 16 Aug but has been extended to 6 Sept. This is for automation only. Once the contract has been assigned and the contractor sets up the ISX online which could take up to 6 months or more due to fine tuning.

In my opinion only, I believe that the ISX wil open to Foreign Investors after the ISX is automated and who knows when that will be.

[Mysterious11]

The ISX is open but....it is only open to the people in Iraq and not to foreign investors. Right now they are seeking proposals to make the ISX automated. The closing date for proposals was originally 16 Aug but has been extended to 6 Sept. This is for automation only. Once the contract has been assigned and the contractor sets up the ISX online which could take up to 6 months or more due to fine tuning.

In my opinion only, I believe that the ISX will open to Foreign Investors after the ISX is automated and who knows when that will be.

[minigirl]

Mysterious, you're repeating yourself repeating yourself! :lmao:

[Mysterious11]

I screwed up and hit the button twice. :D

[minigirl]

I screwed up and hit the button twice. :D


I see I see. hehe hehe! :p :p