New Iraqi Dinar (NID)-Presidential Order 13303 allows US Citizens to invest in the New Iraq emediawire.com ^
Posted on Monday, March 22, 2004 10:08:11 PM by chance33_98
New Iraqi Dinar (NID)
Presidential Order 13303 allows US Citizens to invest in the New Iraq. Under this Order and the Coalition Provisional Government Order 39, a US citizen has the same rights to investments as an Iraqi citizen
IRAQ (PRWEB) March 2, 2004 -- Investment in the new Iraq is guaranteed under the Presidential Order 13303 removing sanctions on investment in Iraq. The new order allows for a restructuring of the banking system in Iraq. US citizens are allowed to invest in Currency, Stocks, Bonds, Real Estate and Business in Iraq.
Iraq has a new currency to replace Iraq’s two currencies, one of which was easily counterfeited and mostly circulated in a single denomination. Banks issue only the new currency and government employees paid in cash will receive their salaries in the new currency. Until January 15, 2004 the old and new currencies will circulate freely at a fixed exchange rate. Exchange between the old and new currencies is conducted at now charge at multiple exchange points around the country.
The other financial market structures are strong:
95 percent of all pre-war bank customers have service and first-time customers are opening accounts daily. Iraqi banks are making loans to finance businesses. The central bank is fully independent. Iraq has one of the world’s most growth-oriented investment and banking laws.
The new Iraqi dinar which is printed bu De La Rue company in the US and Great Britian, is valued at just 2 tenths of one cent today. The US treasury has a strong dinar policy and is working with the CPA (Coalition Provisional Authority) to reinstate a strong decentralized banking system in Iraq. By December 2004 there will be six Western Banks in Iraq and six Iraqi Banks outside Iraq in operation. In March Three banks were given licence to operate in Iraq, National Bank of Kuwait, HSBC Bank and Charter bank of England.
Since the CBI is buying back the Dinar at a rate of $1 to $1.5 Billion USD/Month__this new policy will undoubtedly help considerably now.
If a single soldier brings more than $10K home with himself for private investment he must declare it. You cannot use the mail service to forward your Dinars to the States if a soldier or private citizen.
The Dinar has valuated 88% since its inception in 2003 and this through ar time and very tight monetary policies to hold inflation back while Iraq develops. East Germany blew it when they started to develop after the war and ruined their currency.
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