Mountain Goat

…we see more of the fruits of Iraq’s labor in combating AML[Anti-Money Laundering] in the article titled ‘NEW PARTNERSHIP TO CONNECT THE MIDDLE EAST AND EUROPE VIA IRAQ’

Quote:
‘By working together, we will enhance regional and international connectivity, offering higher capacity, security, and efficiency for businesses, operators and hyperscalers across continents.’

I have to say if they are not about to go international after reading this article, I am a monkey’s uncle…lol…

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MarkZ

Article:
‘Iraq has made great progress in its path to the World Trade Organization.’

Iraq has completed the requirements for ascension as soon as they change the value. 

Question: Looks like we are in yet another ‘Holding Pattern’…Will anything ever happen.

MarkZ: I don’t think we are in another holding pattern…maybe this is last few weeks while things play out.

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Frank26 (KTFA)

[Iraq boots-on-the-ground report]

FIREFLY: They’re saying the exchange rate reform is officially enabled. This is on TV…They said the first step one was the closing of the gap between the official rate and the street rate…They’re telling us the official rate and the street rate are now getting close and that was the first phase.  Then they started to talk about…two more phases…The second phase will deal with the IMF and double-checking to make sure the Iraqi dinar has met all the global standards and the final step…will be engagement.  They are not giving us a date or details just the plans on currency rates plans…

FRANK: This education is now at the point where it’s ready to show you what they have been talking to you about.  You are so close. This currency report blew me out of the water. It’s outstanding!​

Question:
‘Does the Forex relate to what the rate will be.’

The Forex will allow it to grow externally.  That is called the float. 

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Clare (KTFA)

Article:
‘Mazhar Saleh: Iraq ranks third in the Arab world in the number of bank cards.’

Quote:
‘Iraq will enter the era of fully electronic tax collection by the middle of this year. This will strengthen the confidence of global financial institutions and investment banks that Iraq is moving towards a more transparent and professional economy, using advanced methods that ensure economic prosperity.’

Article:
‘Experts: Liberation from the rentier economy occurs through modern banking.’

Quote:
‘Banking, academic, and legal experts predict that Iraq is on the path to a radical banking transformation that will transform the national economy from its dependence on oil to a diversified and sustainable capital market.’  

Pimpy

Article:
‘Government consultant: Iraq third Arab with bank cards’

Iraq definitely has continued to follow the path they need to get the currency back on track.  For some of us the more important thing is getting the economy going and making that strong…

Just because you have a 25,000 note and all of a sudden they change the exchange rate to go with the new notes that doesn’t mean you get to bring in your old 25,000 dinar and go, ‘Aha, I want the new exchange rate…’  They’re going to go, ‘No. We’re going to take your zeros off and then multiply whatever the new rate it.’  That’s what they’re going to do. Don’t get excited about having the old notes if they do introduce new notes.  What we want to see happen is them to increase the exchange rate and not touch the notes, leave them the way they are with the zeros on there.  That’s what you want if you any hope whatsoever of making a lot of money. 

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Walkingstick (KTFA)

[Iraqi banking friend update]

AKI: If I knew the date I still wouldn’t tell you. But I can tell you this, that all of the meetings we are having everyday with the US Treasury, IMF and the USA people is telling us, from our understanding of these meetings, that it is happening now.  

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Samson (KTFA)

Article:
‘TRADE : IRAQ HAS MADE SIGNIFICANT PROGRESS TOWARD JOINING THE WORLD TRADE ORGANIZATION’

Fnu Lnu

Progress is being made. This is true but ever so slowly as if Iraq is in another dimension. The private sector is creating new revenue streams. This is true but on Iraq time. What is not true is the fact that the RV is imminent and going down at any second…We are no closer than we were this time last year...E*******s are in November, Basel III is on July 1st, and the banking sector is not refurbished, and the Digital Dinar isn’t even developed yet…if we are lucky, the first of next year may see us at the BANKS…(read NOT Redemption Center) exchanging our currency. 

Source : dinarchronicles

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