Iraqi Customs will no longer permit packages containing funds of any currency

03/22/2010
Dear Warka Clients,

Please note that we have just been informed that Iraqi Customs will no longer permit courier companies to receive and deliver packages containing funds of any currency and strictly prohibits this matter locally. The client will bear the full responsibility and risk of sending funds by mail where the bank will not bear any financial or legal responsibility for the funds sent by mail.
Best regards,
Warka Bank for Investment and Finance

http://www.warka-bank.com/inner.php?type=3&id=74

Great post! This is very interesting in deed.

Do you think the CBI will try and pull a fast one on international holders of Dinar?

What I mean is have one deal for the governments for instance you use your dinar for oil as has already been mentioned AND

If you are a international investor they will give like 30 days for you to exchange your larger doms for smaller doms knowing there is no way possible for everyone to change the larger doms so they will save a fortune.

The lucky ones will be the ones who have in country accounts and these will generally be the ones with the most dinar.

Quote:

Originally Posted by ManxDinar

Do you think the CBI will try and pull a fast one on international holders of Dinar?

What I mean is have one deal for the governments for instance you use your dinar for oil as has already been mentioned AND

If you are a international investor they will give like 30 days for you to exchange your larger doms for smaller doms knowing there is no way possible for everyone to change the larger doms so they will save a fortune.

The lucky ones will be the ones who have in country accounts and these will generally be the ones with the most dinar.

It could be that the only people affected by a change w/ the zero's are those in Iraq, it could be that we all will have to deal with that scenario. The only thing we know is that in time we will find out the answers to these questions. I dont ever remember seeing a link to an article for any of the 'wont trade for X amount of time' or trade for oil comments. They may have this arrangment, but just stating that there has been no proof put on the table. It is not strange for countries to hold foreign currency. And for a currency that is expected to do as well as the dinar in time why would they not want to have that cushion in their foreign reserves to bolster the value of their overall holdings.

I emailed Dinar Trade Inc the notice to see if this effects them buying Dinar so I'll post their response ass soon as I get an answer back.

There are probably so many different scenarios that could be postulated that you may never guess why they are doing this. Here is another: Maybe they want to try to keep the currency "pure" while they are exchanging the big 'uns for litl'uns. What I mean is they may not want currencies from many countries pouring in to Iraq while they are deleting the 000s and handing out the small denominations. Here is another: Maybe it has something to do with the terrorists and how they are exchanging and/or accumulating currency. I could come up with a couple of more but what is the point? It is all out of our control anyway, just as the healthcare bill was. It will be crammed down our throat, if that is what they want to do. Before you jump, I'm not saying the US will cram it. I'm saying the Iraqis, if that is what they want to do.

My take is a little simpler. They are about to RV this thing and don't want to needlessly send anymore Dinars out of the country. We have all talked about how CBI would be trying to get as many IQD back prior to RV (propaganda...etc), not letting anymore out seems to be a step in that direction. IMHO

Quote:

Originally Posted by Infidel

I emailed Dinar Trade Inc the notice to see if this effects them buying Dinar so I'll post their response ass soon as I get an answer back.

Here is their email back to me!

Yes we can still get dinar, we have shipments coming in this week and some arranged for next week.

Thanks
Ali
Dinar Trade Inc
www.**********.com
Tel:877 770 7660

- Show quoted text -

We can still get dinars out of Iraq because we have a banking lic in Iraq.

Thanks
Ali
Dinar Trade Inc
www.**********.com
Tel:877 770 7660

Thanks for the post.