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  1. #1
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    Lightbulb CBI will Distribute Trillion Dinars to Iraqi Private Banks: Saleh

    CBI will Distribute Trillion Dinars to Iraqi Private Banks: Saleh

    1 hour ago by Iraq123 News Comments Off on CBI will Distribute Trillion Dinars to Iraqi Private Banks: Saleh

    The Economic adviser to the Iraqi Prime Minister Haider Al-Abadi, Muhammad Saleh issued a statement that the Central Bank of Iraq has planned for issuance trillion dinars of loans to governmental and private banks. Saleh delivered his words in a press statement that the Iraqi Central Bank will distribute loans estimated in trillion Iraqi dinars to private banks having capability to control and manage it. He further added that this loan will be used for small, medium and enterprise level business that are actively participating in the Iraqi economic cycle. He pointed out that private banks have raised some complaints, but these issues will be solved by the Iraqi Central Bank. He also denied about any type of obstacles or delay in the distribution of loan. He indicated that this step will contribute in the development of Iraqi local economy and it would resolve the economic problems of Iraqi citizens.Saleh added that Iraqi government will support to the initiative of launching loans by the Iraqi Central Bank. The Governor of Iraqi Central Bank and his delegation arranged a number of visits in this week. These visits include a number of essential visits to private banks to find out major obstacles and supposed challenges experiencing by the banks to achieve their specific targets and to maintain financial and economic stability in the country. At the other hand, the exchange rate of the U.S dollar showed a slightly rise in the Iraqi currency markets. The price of the Iraqi dinar recorded on Thursday 10th Nov 2016 at 1310 Iraqi dinars per U.S dollar. The sale price was recorded at 1305 Iraqi dinars per U.S dollars and the purchase price was at 1295 Iraqi dinars per U.S dollar. Iraqi Central Bank is taking some major and important steps to maintain Iraqi dinar exchange rate against foreign currencies, especially against the U.S dollar.

  2. #2
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    Usd $847,500,000 is better than nothing I suppose

    This is just for banks to lend out, where is the bail out money ?

  3. #3
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    If Trump really does have Dinars, then he wouldnt he be prohibited from increasing the value because it would be a conflict of interest?

  4. #4
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    Ekim- A US president would never have the power to change the value of another countries currency. However, he could make the suggestion with his new platform that this would be a great way to solve all of the liquidity problems facing the world. There has been a lot of talk about ending QE and introducing helicopter money this would be a form of helicopter money that would stay out of the big banks and put money in peoples pockets to directly stimulate the economies around the world. Assuming the US has invested in Dinars it could also help us pay for the war and reduce our high debt load.

    I believe we will see movement after the recapture of Mosul. They have stated that there needs to be something done economically to keep ISIS from coming back and that would empower the people to rid them from Iraq. If a currency exchange is done it will be a way to rid the streets of "black money" just like India is doing right now with the Rupiah.

  5. #5
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    how much of that will go to Warka as compensation? Betting some as part of the "get well" plan allowing Warka to open for business again...

  6. #6
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    Imagine what the reconstruction of Ramadi, Mosul, Baghdad, Fallujah, etc will have for the economy in Iraq. Tens of billions of dollars is a conservative estimate. Something to kick-start more value to the stock market and currency.
    "I have nothing to offer but blood, toil, tears and sweat." - Sir Winston Churchill

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