UPDATE: Iraq Plans To Rebase Its Dinar Early 2008 -Fin Min (adds more interview details) By Hassan Hafidh Of DOW JONES NEWSWIRES AMMAN (Dow Jones)-The Central Bank of Iraq is contemplating rebasing the Iraqi dinar and issuing new banknotes early next year, the country's Finance Minister said Thursday. "The Central Bank will take a decision in three months time from now, taking off three zeros from the current Iraqi dinar value," Bayan Jabor said in an exclusive interview with Dow Jones Newswires in Amman. On Thursday, the dinar traded 1,230 dinars against the dollar, according to a trader in Baghdad. If the rebase decision is taken, it means that a dollar will equal only 1.23 dinars at current prices, the minister said. Currency rebasings usually are monetarily neutral and are introduced to make commercial calculations easier. Turkey knocked six zeroes off its lira currency on Jan 1 2005, for example. Before the U.S.-led invasion of 2003, the dinar was trading at 2,500 against the dollar. During early 1980s an Iraqi dinar was traded by Iraqi state-run banks at 3 dollars. The Central Bank of Iraq has been working to improve the value of the dinar against the dollar through holding a daily auction to sell dollars to private and government banks. The bank sells between $35 and $50 million in each auction it holds, bank officials said. The Iraqi minister said, however, printing new bank notes and fully replacing old notes would take two years. In July 2004, the now dissolved U.S. civilian authority in Iraq decided to print the current Iraqi bank notes replacing those used to bear the picture of the former Iraqi leader Saddam Hussein. Iraqis then had three months to swap their old dinars with the new ones. According to Central Bank officials some 10,000 tons of old dinars were then collected and burned. The current banknotes were printed by Britain's De La Rue Plc (DLAR.L), the world's biggest commercial printer of bank notes. Jabor didn't say which company would print the new banknotes. Jabor said that the government was able to bring down inflation from a record figure of 60% last year to a current 16%. He said Iraq's economy is growing at a rate of 6% this year and that the government wants to increase that figure with more crude oil exports, tourism and agriculture in 2008. Iraq sits on the third largest oil reserves in the world and depends on oil sales for almost all of its foreign currency earnings. Jabor announced earlier this month that the country's budget for 2008 would be $48.4 billion up from $42 billion in 2007. Some 88% percent of that budget would be financed from oil revenues which are expected to reach $36 billion, according to Iraqi officials. He said that his ministry has allocated $15.5 billion for investment in various industrial, oil, agricultural, housing and service projects in 2008. He said some $5 billion that the government was not able to spend in 2007 would be moved to 2008 investment plan. While in Amman, Jabor met with Jordanian businessmen to encourage them to start investment in Iraq's ambitious reconstruction plan for 2008. He did the same thing with Syrian and Kuwaiti businessmen last week. -
By Hassan Hafidh; Dow Jones Newswires; + 962 777 612 111; hassan.hafidh@dowjones.com (END) Dow Jones NewswiresNovember 29, 2007 10:19 ET (15:19 GMT)Copyright 2007 Dow Jones & Company, Inc.
Guideline to Opening New Account at Warka Bank, IRAQ
As I mentioned before, foreign investors are now able to open up dinar bank accounts in Iraq. One of the most popular banks among the investors is the Warka Bank. I will use Warka bank as an example to show you exactly how to open dinar bank accounts in Iraq.
Here are the step-by-step instructions on how to open a savings account in dinars with Al Warka Investment Bank in Iraq. First you will need to have electronic copies of the following items/documents which you can email to the bank in order to ask them to open your accounts in Iraq:
1 - a copy of your passport or drivers license with a proof of your address
2 - a passport size photograph
3 - a letter with your signature, authorising Warka Bank to exchange USD to dinars (IQD). See below a template you can use.
Template of authorisation letter:
I (your name) authorise Al-Warka Investment Bank to draw from my dollar savings account which I hold with Warka Bank for Investment and Finance and exchange the Dollar into Iraqi Dinar according to the price fixed by the Central Bank of Iraq at that day, and then deposit it in my Iraqi Dinar account at the said bank.
(Your name)
(Your signature)
This letter needs to be printed and signed by you. Then you need to scan it, save it normally as jpg and email it to the bank together with the other 2 documents mentioned above which also need to be scanned and saved normally as jpg files. After your documents are scanned you will attach them in an email which you will send to Warka bank. The body of the email is as follows:
Dear Warka Bank,
Please open a USD and IQD savings account with Warka Bank on my behalf. Attached are my passport/drivers license, my photograph and the required Authorisation letter.
Thank you.
(your name)
Your message will then be sent to the accounts department at Warka and the email address you need to use is:
c.accounts@warkainvestmentbank.com After the bank receives your request, they will assign an account manager for you and he/she will send you your new account numbers and details on how you can wire money to them. Even though Warka bank is swamped with such inquiries you will find that their respose is relatively quick and the service attentive and polite.
In the past couple of months Warka bank has developed an on-line banking service which allows you to check your statements on-line and communicate easily with your bank manager about your accounts in Iraq and even discuss other available services such as credit cards, buying iraqi stocks, e.t.c. Below you can find the link to Warka's website. Check it out to find more details on different types of bank accounts in Iraq and to see if this particular bank suits your needs. Al-Warka Investment Bank Main Information Please note that this website has no affiliation with Warka Bank. There are a number of other banks in Iraq and outside of Iraq listed here for your own convenience.
Making bank accounts in Iraq could be risky and to understand some of those risks you should read the section on Dinar Bank Accounts in this website. Click on the link below to access this information. More on Bank Accounts in Iraq and bank information
mimi.amira60@yahoo.com
nyatakan nama & alamat penghantaran dan no tel untuk dihubungi.
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7 Dalil Mengapa Koleksi Set 7 Keping Nota Dinar Iraq Menjadi 'Hot Collectors Item' dlm tahun 2007
1. Sejarah membukti sebanyak 3 kali matawang 'era lepas Perang' naik melambung. Perang Dunia ke 2, Perang Kuwait, Perang Afghanistan telah menjadi sejarah. Mereka yang bijak pada masa matawangnya jatuh, meraih keuntungan luar biasa bila ianya naik melambung setelah dipasarkan. Masih belum terlambat! adakah IRAQ bakal mengulangi sejarah ini....???
2. Harga koleksi ini begitu murah jika dikaitkan nilainya sebelum perang. ...dengan harga sekarang, u've got nothing to loose!! Bagaimana mengira potensi masa depannya?
3. Rakyat Amerika dan Israel adalah pembeli terbesar Koleksi Dinar Iraq. Mengapa?
4. 7 Nota yang berlainan memudahkan penyimpan untuk menjualnya kelak secara berperingkat, apabila nilainya naik kelak
5. Semenjak dilancarkan, nilai naik setiap hari. Malah, pengumuman yang bakal dibuat oleh pada 2Januari 2007, meramalkan satu usaha kearah pengukuhan nilai Dinar.
6. Nilai mawatawang negara jiran Iraq adalah kukuh belaka ..contoh..
7. Menteri kewangan Iraq telah mencadangkan kepada Bank Negara nilai 1Iraq Dinar = 1USD apabila 'budget' yang bakal diserahkan kepada Bank Dunia pada akhir 2007.
Kirakan sendiri...apa yang akan berlaku!!!
1 set = Anda dibekalkan nilai 41800 Dinar (7 keping nota)
Nilai sebelum Perang 1 Dinar = 3.3 USD
Jika Nilai, 1 Dinar = 1 USD, maka 41800 Dinar anda= 41800 USD = RM152,000
Jika Nilai, 1 Dinar = 10cent, maka 41800 Dinar anda= 4180 USD = RM15,200
Jika Nilai 1 Dinar =1 cents, maka 41800 Dinar anda =418 USD = RM1520
>> Tak mungkin nilainya hanya 1 cent shj......Mengapa? bole buka website www.dinar2010.blogspot.com
1 . Fakta Utama
Lawati laman web rasmi Bank Pusat Iraq di http://www.cbiraq.org
2. Mengesan dinar iraq yang asli
Setiap dinar iraq ada pusat keselamatan yang tertentu, seperti watermarks, imbedded metallic strips, dakwat metalik, raised lettering, jalur keselamatan dan simbol warna yang sentiasa bertukar dan yang paling utama ialah tulisan rahsia yang menunjukkan nilai sesuatu denominasi yang hanya kelihatan di bawah sinar Ultra Ungu. Ada baiknya anda membaca testimonial terpilih kami di sini.
3. Di manakah hendak dijual semula dinar iraq apabila nilainya naik nanti?
Anda boleh menjual di mana mana money changers atau bank terpilih yang akan melakukan transaksi jual beli wang dinar iraq, kerana pada masa itu, wang dinar iraq telah masuk dalam pasaran matawang antarabangsa sebaik sahaja ekonomi negara iraq pulih dan berkembang dengan baik.
4. Bilakah wang dinar iraq akan naik?
Tiada satu tarikh yang tepat untuk mengetahui bilakah dinar iraq akan kembali naik seperti sebelum perang dahulu. Apa yang boleh dikatakan ialah, kita hanya boleh menjangkakan atau meramal berdasarkan perkembangan pembangunan ekonomi dan politik di negara iraq dari masa ke semasa.
5. Semakan kadar tukaran dinar iraq
Kadar yang paling tepat anda boleh dapatkan di laman web rasmi Bank Pusat Iraq di link berikut http://www.cbiraq.org/cbs6.htm
6. Pencetak dinar iraq?
Syarikat De La Rue yang berpengkalan di United Kingdom semenjak tahun 1813. De La Rue adalah pencetak mata wang terbesar di dunia untuk lebih 150 mata wang dengan jumlah pekerja seramai 6000 orang di 31 buah negara termasuk di Malaysia. De La Rue juga yang mencetak wang Ringgit Malaysia. Laman web rasmi De La Rue ialah http://www.delarue.com
7. Apakah bank bank antarabangsa yang telah dibenarkan untuk deal di iraq?
Bank Pusat Iraq buat pertama kali telah menganugerahkan lesen kepada bank bank asing antarabangsa untuk deal dalam dinar iraq. Bank bank tersebut ialah HSBC, Standard Chartered, National Bank of Kuwait, Iranian National Bank, Commercial Housing bank dan Bahraini Arab Banking Institute.
8. Sampai bilakah peluang untuk menyimpan koleksi dinar ini terbuka?
Kami tidak tahu sampai bilakah peluang untuk membeli koleksi dinar iraq ini terbuka. Bagaimanapun yang pasti, sebaik sahaja Bank Pusat Iraq dan World Bank melakukan ‘peg’ dinar iraq dalam pasaran mata wang antarabangsa, maka pada masa itu peluang ini akan berakhir. Ia boleh berlaku tahun 2008, 2009, 2010 atau lebih lama lagi. Ianya boleh berlaku bila bila masa.
9. Apakah risiko membeli koleksi dinar iraq?
Risiko utama membeli dinar iraq ialah, jika iraq terus tidak stabil ekonomi dan politiknya sampai bila bila dan keadaan itu akan menyebabkan nilai dinar iraq tidak naik naik. Dalam keadaan itu, koleksi dinar iraq yang anda simpan, betul betul menjadi koleksi sampai bila bila juga kerana potensi untuk naiknya tidak berlaku.
10. Bagaimana jika dinar iraq ini bertukar dengan denominasi yang baru?
Dinar iraq baru ditukar melalui satu proses besar besaran melibatkan keseluruhan rakyat iraq mulai 15 oktober 2003 hingga 15 Januari 2004. Sehingga kini, USD10 Billion dinar iraq telah berada dalam sirkulasi luar negara iraq. Dinar baru iraq bergerak dan berkembang dengan baik dan diterima oleh rakyat. Adalah mustahil untuk ditukar semula kerana TIADA SEBAB UNTUK DITUKAR SEMULA.
Bagaimanapun, ANDAI KATA DITUKAR oleh SEBAB yang kita pun tak tahu katakan, MAKA, proses PENUKARAN tetap akan berjalan dengan penuh profesional bagi melicinkan aktiviti transisi tersebut. Kepercayaan rakyat dan kepercayaan dunia terhadap negara iraq wajib dijaga, justeru iraq atau sesiapa sahaja yang memerintah iraq TIDAK BOLEH menukar dengan sesuka hati dinar iraq.
Harus ditegaskan bahawa, semasa Penjajah Amerika menjatuhkan Diktator Saddam Husin pun, RAKYAT IRAQ DIBERI PELUANG yang secukupnya untuk menukar simpanan dinar iraq mereka dengan dinar iraq yang baru. Justeru jika dinar iraq ditukar sekali pun, maka kita akan mempunyai masa yang secukupnya untuk menukar dinar iraq dengan dinar iraq yang lebih baru. Walaupun mustahil ianya untuk berlaku.
11. Apakah jaminan wang dinar ini akan diniagakan di pasaran?
Tiada siapa pun orang atau agensi atau kerajaan yang memberikan kenyataan menjamin tentang matawang mereka akan memasuki pasaran matawang antarabangsa.
SEBAB tidak perlu jaminan KERANA semua negara khususnya iraq SENTIASA BERUSAHA MEMBANGUNKAN ekonominya yang akhirnya akan MEMBAWA kepada kemasukan semula iraq dan mata wangnya ke pasaran ANTARABANGSA.
Masuk semula ke PASARAN MATAWANG ANTARABANGSA adalah MATLAMAT SETIAP MATAWANG.Duit Malaysia pun tidak dijamin tidak akan dipeg, tapi akhirnya kerana faktor ekonomi semasa, ianya dipeg, dan kemudiannya tidak dijamin akan dibuka peg nya semula, tapi berdasarkan ekonomi semasa, dibuka semula sedikit demi sedikit.
Begitulah kita harus memandangnya
