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Thread: Financial transactions are available to Iranian traders through Iraqi banks in the dinar and euro

  1. #1
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    Default Financial transactions are available to Iranian traders through Iraqi banks in the dinar and euro




    Financial transactions are available to Iranian traders through Iraqi banks in the dinar and euro currency

    2/6/2019


    The Iranian central bank governor, Abdul-Nasser Hamati, said that Iranian exporters are now able to conduct their business and conduct banking transactions through Iraqi banks, as Iranian banks can open assets in Iraqi banks and deal with them in the currency of the dinar and the euro.

    According to the Mehr news agency , the governor of the Central Bank of Iran, "Nasser Hamati" met today and the second day of his visit to Iraq, with the heads of Iraqi banks and members of chambers of commerce and a number of Iraqi economic activists.


    My main concern about the achievements of the Islamic revolution in the last four decades since the victory of the Islamic Revolution was that the United States sought, through two stages of severe sanctions against Iran, to stir up chaos on the Iranian street by weakening the Iranian currency, but it did not succeed. Control the currency market and reduce inflation.


    Hamati pointed to the agreements concluded between the two sides, describing banking relations as the key to the development of economic relations between the two sides. He also pointed to the determination of officials in both Iran and Iraq to expand relations at various levels between the two countries and to support Iraqi Prime Minister Adel Abdul Mahdi, Ongoing negotiations between Iran and Iraq and the agreements reached in the framework of strengthening their bilateral relations.


    "Based on the agreements concluded, the central bank of Iran is to have assets in euros and dinars, where oil and gas transactions will be carried out through these funds," Hamati said.


    The governor of the Central Bank of Iran described Iraq as the largest and most important partner of Iran, adding: According to the agreements, Iranian exporters can now carry out their commercial activities through Iraqi banks.

    The Iranian banks can also open balances in dinars in Iraqi banks. Which the Iraqi prime minister has shown, relations between the two sides are expected to become stronger than before, leading to the strengthening of trade and economic relations.


    He added that Iraqi companies also can open assets in Iranian banks and conduct banking transactions in dinars.


    The head of Al-Rasheed Bank of Iraq suggested that a division of this bank be established in Iran, considering that this will play an important role in bilateral trade relations.

    The Governor of the Central Bank of Iran welcomed this proposal, describing the establishment of branches of Iraqi banks in Iran to facilitate transactions and expand agreements between The two sides.




    https://ar.mehrnews.com/news/1892059...82%D9%8A%D8%A9

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    Default Re: Financial transactions are available to Iranian traders through Iraqi banks in the dinar and euro


    This sounds like a can of worms. If I remember correctly, the Euro, along with the USD and British Pound, is one of those currencies the US is trying to keep out of Iran’s hands. This sounds like Iraq is opening the door to funnel the Euro into Iran. This doesn’t sound good to me. JMO
    Thanks for the info Harry. I guess we’ll have to wait and see what happens.

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    Default Re: Financial transactions are available to Iranian traders through Iraqi banks in the dinar and euro


    Iraq responds to an Iranian request to pay one billion dollars

    2/7/2019


    A source familiar with Iraq's refusal to pay debts owed to Iran.

    The newspaper quoted the Middle East Saudi Arabia, a source - said he was familiar with the scenes of the meeting between the governor of the Central Bank of Iraq Ali Alalak and his Iranian counterpart Abdul Nasser Hamati - yesterday said that the relationship "rejected the Iranian demand to pay Iraq owed by the debt of Iran in the dollar; American sanctions against Iran. "

    The source added that "the Iranian delegation came to an agreement to fulfill the debt owed by Iraq more than one billion dollars to the Iranian side."

    The governor of the Central Bank of Iran Abdul Nasser Hamati had visited Iraq on Tuesday and announced that he signed with his Iraqi counterpart Ali al-Alaq after 4 hours of talks an important agreement with the Central Bank of Iraq to address the obstacles of transferring money and pay Iraq's debts to Iran's gas and electricity exports to it.

    He pointed out that "there is a serious will of the Iraqi side to address the problems," noting that "Based on the consensus, the monetary and banking relations between us and Iraq will be within the framework of the euro and the dinar, where the Central Bank of Iran account in Iraq on the basis of the dinar and euro will be completed banking transactions through banks Iraq ".

    He added that "during this visit, as well as the identification of a mechanism for financial payment between the two countries, the agreement to remove the problems related to the transfer and return of returns of Iranian exporters to Iraq from hard currency."

    http://glgamesh.com/archives/44494

  4. #4

    Default Re: Financial transactions are available to Iranian traders through Iraqi banks in the dinar and euro


    Will someone explain this and what it means to us and our investment. Are we still looking for an RV one day? Just trying to understand.

  5. #5

    Default Re: Financial transactions are available to Iranian traders through Iraqi banks in the dinar and euro


    Iraq's Prime Minister Adel Abdul Mahdi said on Wednesday that his country would not be part of US sanctions against Iran.

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    Default Re: Financial transactions are available to Iranian traders through Iraqi banks in the dinar and euro


    blesseddinar,
    As for now, I believe our investment is still a sound investment. I have been in this investment long enough to know it feels much like a roller coaster ride. Lots of ups and downs, twists and turns, with the occasional coast before it switches gears again. We just have to ride it out until it comes in for the big payoff.
    As for my concern; the article above, along with guardian's quote from another article of the same day, as well as Iraq's desire for the US Military to leave Iraq leads me to think that Iraq's New Government may have strong ties to Iran. This coupled with our current HOT HEADED Administration could possibly lead to Sanctions against Iraq. And that could put a damper on Iraq's economic growth.
    In short... we may just be looking at a political pissing match, and will just have to wait to see how it turns out.
    Please note, this is just MHO. It would be nice to hear thoughts from others as to where we stand. There have been a lot of positive articles indicating growth and movement toward an RV. Hopefully others will chime in with there thoughts as well. Thank you.

  7. #7

    Default Re: Financial transactions are available to Iranian traders through Iraqi banks in the dinar and euro


    Thanks HotRod. I have been on this ride since 2005 and have learned a lot just being here on Dinar Speculator, so I say thanks to all of you who have put your time in finding articles and most of all explaining them. I look everyday for opinions from you, Harry, Guardian so I can understand the article. I can understand you opinion on what's going on now. I'm in it for the long haul but hopefully something will happen in the very near future. Articles have been looking very favorable lately until this Iran thing came up. Once again thanks.

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