STATUS OF THE RV , PART .5
😊In this same regard is article titled “IRAQ STOCK EXCHANGE TO JOIN TABADUL DIGITAL TRADING PLATFORM” The Abu Dhabi Securities Exchange (ADX), the UAE’s largest financial market, has signed an agreement with the Iraq Stock Exchange and the Iraqi Securities Commission (ISC), paving the way for Iraq to join the regional digital trading platform, Tabadul. The signing ceremony was held at ADX headquarters on Tuesday.
These two last articles reflect yet more effort on the Stock Market. If you recall this is one of the vital Pillars of Financial Reform and will pave the way back to FOREX.
Clarity on the VISA and Mastercard saga:
Next, I want to bring news about the Iraqi VISA and Mastercard saga. What is the importance of these cards? There are two articles in today’s news concerning the management of these cards.
If you recall for these cards, once the CBI began the de-dollarization effort, quickly became a source of withdrawing cash in dollars from the cards and funneling the dollars to Iran.
Not good! The Iranian loyalist inside Iraq will do anything to be loyal to Iran. This had to be stopped as part of the money laundering schemes yet travelers still needed the cards as well as in country Iraqis for electronic payment options. The CBI had to find a solution and did find one. These next two articles are about the solutions and when they kick into effect. This is important for Iraq for establishing how they handle money internationally so pay attention.
😊The first article titled “CENTRAL BANK: VISA AND MASTERCARD CARD ISSUE ABROAD TO BE RESOLVED NEXT MONTH” tells us the Central Bank Governor Al-Alaq announced on Saturday that the issue of Visa and MasterCard cards abroad will be resolved within the next month. He explained,
“When we headed to organize this process, it required a set of procedures that must be worked on, so that we put it in its correct direction and according to acceptable standards, and therefore there were some stops and some changes in the paths.”
Al-Alaq said, “An agreement was reached with all concerned parties – which include “Visa” and “MasterCard” in coordination with the Treasury, the Federal Reserve, and the auditing company – on “the formulas and paths for settling these cards,” stressing that “the Central Bank has taken rapid steps in this regard, expecting to complete this task within the next month, i.e. before the scheduled date for this process, which is June 1.”
Just so you realize they are NOT using these cards with the “new” RV rate. If anyone tells you this they are crazy people and lying to you. If these cards are used outside Iraq they use the same “official” rate of the CBI if they want to pay for goods in any other foreign country. This is why the link back to the CBI is on FOREX. Get it? It is the same like if you use a US charge card in Germany. The card will take your U.S. Dollar limit and convert it to Euros.
Euros will pay the merchant…simple. The cards can never have a special rate on them. The rate comes from the CBI. So, let’s stop all this nonsense about these cards and having a new RV rate on them. This is so ridiculous it is even scary that anyone would even believe this crap, but these idiot intel gurus (like TNT Tony and Bruce) are telling you this. Yes, very sad with all the lies.