Iraqi Dinar Discussion Board

[WayneC777]

70% IQD liquids removed, 24 trillion out of 28 trillion Circulation
Manager of Rafideen bank: Iraq is the only country in the world where Money is carried in bags which worth 24 trillion ID out of 28 trillion ID and he added saying now we are supporting Iraqi economy
===============================


Manager of biggest Iraqi bank Abdul Hussein Alyasiry said that Iraq is the only country in the world where financial liquids being exchanged by bags pointing that there is governmental will to eliminate zeros from the currency to overcome the huge liquids
WayneC777 – SO! … if they are talking about removing the Zero’s from the street in bags, this shows AGAIN their conversation is talking in general about removing the larger bills and not a LOP…

Translated by IRAQdirectory.com - [5/25/2010]

Alyasiry said that the Iraqi currency which is in use now (or what we call financial liquids is very huge and it worth more than 27 trillion ID but unfortunately it is being exchanged by bags and there is no country in the world use bags to exchange its currency and that is why there is governmental intention to eliminate some zeros from the currency.
WayneC777 – AGAIN they are talking about a choice of wording. When removing the zero’s means removing the Bills out of circulations, not LOP’ing.


Corruption Operations:
Alyasiry said that there was big embezzlement operation happened in the main branch of Alrafideen bank in Basrah and that the embezzlement was set by the manager of Basrah private bank and in coordination with the main branch of Alrafideen bank in Basrah but we could reveal the embezzlement operation and in cooperation with the inspector general department and coordination with the ministry of finance the authorities arrested the manager of the bank Hassan kuba who wanted to flee Iraq but we were faster than him and with the help of the military intelligence we found him and right now he is in prison in addition to some employees in order to investigate them on charges of embezzling big sums of money. Alyasiry added saying minister of finance gave us big support in order to put the defendant on trial and we froze all the assets of the defendant and I have doubts that this person used these big sums of money for other purposes and now the defendant has to explain to the investigative authorities where is the money.
Alyasiry added that there were big corruption operations got revealed recently and that the authorities found out about people who receive salaries from more than one department so the authorities decided to stop the fake salaries and put the involved persons on trial.
Alyasiry who became Iraqi parliament member representing holy Najaf said that he will be member of the economic committee in the parliament and the first decision he will work to take is relieving Iraq from the burdens of the Seventh Item which harmed the properties and funds of Iraq on large scale. And he pointed that big sums of money were stolen from Iraq on the grounds of compensations and that many scammers claimed that Iraq is in debt for them or it has to pay compensations for them and they take the money in agreement with legal companies and unfortunately this is what Jordan done some time ago when it confiscated Iraqi funds deposited in Jordan on the grounds that Iraq owemoney to Jordanian tradesmen and this is totally wrong because the information that we received indicate that legal companies started to talk to tradesmen and individuals there and convince them to start lawsuits against Iraq and after they win the lawsuit they share the money and they took enormous amounts of money which was frozen in Jordanian banks under law 30 in Jordan. And regarding the Kuwaiti debts on Iraq Alyasiry described these debts as not objective pointing that these debts raise the reservations of Iraqi people who revolted against the president of former regime Saddam because he invaded Kuwait on 1990 and unfortunately most of Kuwaitis now hold hard feelings against Iraq and its people despite that the person who harmed them (Saddam ) harmed us also.

WayneC777 – Nice
Alyasiry clarified that Alrafideen bank suffered a lot in the past starting with the economic sanctions on 1991 and then the lootings that happened on the year of 2003. And he adding saying Alrafideen bank suffered big losses but I stood there and worked on keeping this institution, and by working with the Iraqi government now the bank became stronger than it was in the past and we turned the losses into profits where our profits in the year of 2006 reached 321 billion ID and 727 billion on the year of 2007 and…

WayneC777 – Read Very Close …
We succeeded in withdrawing 70 percent of Iraqi liquids which worth 24 trillion ID out of 28 trillion ID … and he added saying
… now we are supporting Iraqi economy through supporting industry and services…
- construction loans for farmers
- especially housing projects giving real estate banks 300 billion ID for building housing units
- ministries of foreign affairs
- ministry of interior,
- ministry of trade
- loan to the ministry of electricity worth of 5 trillion ID and
- loan to the ministry of industry worth of 24 million us dollar to rehabilitate its companies.

Alyasiry added saying that the work is ongoing now to reopen all the branches of the bank outside Iraq and also opening new branches of the bank in the;
- Gulf States, Europe, The United States, Iran, China and France.
- We especially have membership in the French Banks Union. And also in Brussels and Germany.
- Right now we have working branches in Bahrain, Sanaa, Abu Dhabi, Cairo, Alexandria, Beirut and Jordan.