About Us - The New Iraqi Dinar

Starting October 15^th 2003 a new Iraqi currency known as the new Iraqi dinar began to replace the old Iraqi dinar and the currency used in the North of Iraq, the Swiss Iraqi dinar. The new Iraqi dinar created a single unified currency that is used throughout all of Iraq. Since the production of the new Iraqi dinar, the international demand for the new Iraqi dinar has to continued to rise.

Iraq is the second largest oil reserve holder in the world, with 95 percent of Iraq’s revenue coming from exported oil. Even in the midst of chaos, scandals and physical violence, the Iraqi dinar has managed to appreciate in value.

The Iraqi dinar has many security features: watermarks, metallic inks, safety strip, color changing symbol, raised lettering and writing that is only visible in ultra violet light. All of our notes are 100% Genuine with prominent security features. We can handle any amount requested. We will negotiate better prices for bulk orders. On average, we will deliver 5-7 working days once payment is received. Some delays occur from time to time, we will keep you up to date and help you track your new dinars until they arrive with you.

We are not financial consultants and do not offer investment advice and therefore are unable to give you advice about when we think the dinar will be worth a certain amount compared to the dollar. You must remember that Iraq is a post-war country and is very unstable. We cannot predict the future so it is very difficult to make economic projections for a post-war nation.

On May 22, 2003, the UN Security Council voted 14-0 to give the United States and Britain the power to govern Iraq and use its oil resources to rebuild the country. Resolution 1483 removed nearly 13 years of economic sanctions originally imposed after Iraq's 1990 invasion of Kuwait. The resolution allows U.N. Secretary-General Kofi Annan to appoint a special representative to work with U.S. and British administrators on reconstruction, humanitarian aid, and the creation of a new government. Due to pressure from Security Council members who opposed the war, the resolution created a new Development Fund for Iraq, which will collect funds from oil sales. The fund will be run by the United States and Britain to rebuild the country, and will be overseen by a new advisory body composed of the United Nations and international financial institutions. It will begin its existence with a $1 billion deposit, funds transferred from the United Nation's oil-for-food account.

 

Iraq is a post-war country and its financial institutions are ruined and are in the process of being reconstructed. To sell your dinars, you would need to work through a bank that trades Iraqi Dinar. We do not believe that there is a western bank that currently trades the Dinar and we cannot guess when banks will start trading this currency. We estimate that once the Iraqi economy is back on its feet and the Dinar is traded internationally, you will be able to sell your Dinar to your bank. In the mean time, however, we do not guarantee that you will find where to cash out and sell your dinars. But I do believe that the Iraqi Dinar is a great long-term investment especially before the December 2005 Iraqi draft of a permanent Democratic Constitution.