Dinar Updates

BGG News, Highlights & Comments

BGG ~ We will continue to highlight the regular auctions. This appears to be the most recent auction.

Central Bank of Iraq Auctions $168,576,870 on 20 March 2018

Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on March 20 registered $168,576,870 in sales, a -15.71% volume decline from the US $199,992,938 sold by Iraqi Dinar, credit and transfer at the previous auction held on March 19.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on March 20 compared to the previous auction.

Data for the March 20 auction was made public by CBI Announcement Number 3659.

Dollar sales in the in the period January 1, 2018 to March 20, 2018 saw an increase of -1% compared to the sales of US $8.03 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.

An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to February 2018, sales of US dollars averaged US $1.89 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.

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Article Credit: http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS

BGG ~ We will continue to highlight the regular auctions. This appears to be the most recent auction.

http://www.dinarupdates.com/observer/

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BGG ~  Let me boil my recent comments down to one simple idea.

It appears to me – Warka Bank is interested in the same thing the CBI is right now…
Which is, recapturing as much Dinar as possible.

Does this imply some immediate RV (or value change)?

No – it does not. In fact, it might even imply them thinking some value shift may be coming as far out as sometime in the next couple of fiscal quarters.

To our esteemed and distinguished Warka clients,

Warka Bank for Investment and Finance is delighted to inform its fine clients that the distinguished Central Bank of Iraq has approved that our clients participate in the upcoming capital increase.

Warka clients are now permitted to purchase Warka stock from the funds depoisted in their bank accounts participating in the capital increase in accordance with clause 56 no. 4 of the Iraqi Company Registration Law the adjusted law no. 21 for the year 1997 .

There are no limitations to the amount of shares purchased where Warka clients are permitted to use their entire deposits to purchase Warka Stock participating in the Capital increase.

Warka clients are kindly requested to submit a signed authorization letter authorizing our bank to withdraw funds from their account to purchase the stock indicating your account number, signature, the funds in IQD to be withdrawn from your account as well as a clear colored copy of your id and passport.

The Warka stock will be purchased at a value of 1 IQD per Warka share and will be registered in the clients ‘s good name in the ISX depository system where the stock will re-trade regularly back in the Iraqi Stock Market once the general assembly hearing and capital increase procedures have been completed.

Warka clients wishing to participate in the capital increase are kindly requested to send their authorization letter with the full details indicated above to our brokerage office 3044@warka-bank-iq.com within two weeks from posting this notice.

Wishing all our Warka clients prosperity and growth true success and much fortune

Respectfully,

Warka Bank for Investment and Finance

Article Credit: warka-bank.com (Special Thanks to Alan Wright)

BGG ~ OH DEAR LORD!!

I get it that they’ve changed (ownership / management), they’re all different now and under the direct oversight of the CBI (which might even bother me a little more)…

BUT HOLY COW!! These guys are really something…

“Here’s a letter authorizing us to withdraw the money from your account”… (because it’s somehow – legally O.K.) …and put it in ours… “sign right here please… press hard – there are three copies”

However, the flip side of this is, what if…

They know (or can foresee) something is on the horizon? They bring in all this IQD (for essentially – FREE)… then the IQD value goes up.

They just sold millions upon millions of shares of a Bank that is essentially worthless for $1 per share (or more). Sounds like the greatest financial coup in history.

Would the value of the IQD going up make the bank more valuable?

No, it does not… but if Warka pulls this off they will be sitting on a GIGANTIC PILE OF MONEY.

Why else would they sell a share of their (albeit $h!tty) bank for FRACTIONS of a cent?? They would be GIVING IT AWAY…

Unless, of course, they foresee buying the incoming money at one price and selling it later at another.

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