Can They Restrict The Exchange?

[Part-timer]

Realizing when the dinar pegs, it will be backed by USD, oil, gold, fractional banking, and warehousing facility, according to the experts so to speak,

Will they or can they put restrictions on the exchange, after or when it becomes an international traded currency?

For instance, like the restrictions right now on taking dinar out of country. I think it is 100,000 NID at present. Could they do the same thing when it is re-valued?

Example: Not allowing you to exchange but a certain amount(100K, 500K, 1mil etc.) on a daily/weekly or monthly basis.

Don’t even know if this is logical thinking or even a possibility. Also, if this topic has already been discussed before, I apologize. Did a search, didn’t find anything.

Any thoughts!





Thanks all!!!

[Doug]

Realizing when the dinar pegs, it will be backed by USD, oil, gold, fractional banking, and warehousing facility, according to the experts so to speak,

Will they or can they put restrictions on the exchange, after or when it becomes an international traded currency?

For instance, like the restrictions right now on taking dinar out of country. I think it is 100,000 NID at present. Could they do the same thing when it is re-valued?

Example: Not allowing you to exchange but a certain amount(100K, 500K, 1mil etc.) on a daily/weekly or monthly basis.

Don’t even know if this is logical thinking or even a possibility. Also, if this topic has already been discussed before, I apologize. Did a search, didn’t find anything.

Any thoughts!




Thanks all!!!
As a gov't, they COULD do anything they choose to. Just as many of our banks have limits on withdrawals or exchange amounts, so it could be for their banks or exchange offices. Anything's possible.

[ISA]

As a gov't, they COULD do anything they choose to. Just as many of our banks have limits on withdrawals or exchange amounts, so it could be for their banks or exchange offices. Anything's possible.

Here is something of interest (possibly) concerning who gets to make that decision. Stan


http://www.cbiraq.org/Binder3.pdf
Article 40 Supervision of Banks
The CBI shall have the exclusive authority to take all such actions as may be necessary: to
license, regulate and supervise banks and their subsidiaries as provided for this Law and in
the Banking Law, including the authority to conduct off-site surveillance and on-site
examinations of licensees and their subsidiaries in the manner and at the times chosen by the
CBI; to require banks and their subsidiaries to provide all such information as the CBI may
request regarding the affairs of a bank, its subsidiaries, and their customers; and to take
remedial action, as provided in this Law and in the Banking Law, to enforce compliance by
licensees and their subsidiaries with such laws and with any regulations, prudential standards,
guidelines or directives issued by the CBI in connection with its implementation of such
laws. Actions by an entity of the Government other than the CBI to regulate the lending and
credit activities of banks are without legal force.

[ISA]

I think most of the exchanging of NID will be done outside of Iraq's borders as it will be tied in with other world currencies. So my best thought is that if "Chase" Bank or "Wells Fargo" are looking to exchange and buy up NID as they do other currencies, that they will not be concerned over any limitation set by the CBI in Iraq. Are your dinar inside of Iraq?
Stan