Speculators in Iraqi Dinar Face Importation Risk With Paper Currency
|December 29, 2010||Filled under Uncategorized|
“Iraq currency is a national currency only to be used and handled within the Republic of Iraq and not to be used, circulated, or handled internationally in any way.”
“The formation of a government in Iraqi last week has re-enrgized speculators in the Iraqi Dinar” says David Pratt of U.S. Dinar Bank who cautions people that while these recent events are encouraging, people should heed the statements made by the Iraqi Ministry of Finance –“ Iraqi Customs does not permit the entry of IQD currency and will confiscate funds, and that FedEx is not permitted to handle and deliver IQD currency in or out of Iraq”.
While thousands of U.S. Servicemen, and contractors in Iraqi purchased paper Dinar in anticipation of what appears to be an impending revaluation, they may have overlooked the fact that Iraq currency is a national currency only to be used and handled within the Republic of Iraq and not to be used, circulated, or handled internationally in any way.
According to David Pratt, of US Dinar Bank, http://www.usdinarbank.com, “the statements above illustrate a major risk to investors owning the paper currency of Iraq and it may affect their capability to redeem it at any given time in the future”. He further states that Americans are free to have a bank account and purchase Dinar without taking those Dinar out of Iraq and be compliant with the regulations of the Iraqi government.
Mr. Pratt and U.S. Dinar Bank facilitate commercial banking relationships for Iraq’s Al Warka Bank. The U.S. Dinar Bank does not handle Iraq’s paper currency in any way.
Mr. Pratt may be reach by telephone 619- 819-5676.
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