CHANNEL8
🇮🇶💵🔥 IRAQ’S DELETE-ZEROS PROJECT: MUCH MORE THAN A CURRENCY CHANGE?
📰 A new Channel8 report describes Iraq’s planned currency overhaul as more than simply removing zeros and issuing new banknotes.
🚨 The bigger objective may be to bring enormous amounts of cash back into the banking system.
According to the report:
💰 Approximately 95 trillion IQD out of an estimated 109 trillion IQD money supply is reportedly outside the banking system.
🚨 Officials have also referred to around 8 trillion IQD in stolen or undeclared funds.
🏦 The proposed currency replacement could create a powerful mechanism:
Old banknotes → surrender/exchange → verification → banking system
This could make it much harder for large holders of undeclared or illicit cash to simply keep their money hidden.
🔹 Remove the zeros
🔹 Issue new banknotes
🔹 Bring cash into the banking system
🔹 Identify undeclared funds
🔹 Reduce currency smuggling
🔹 Increase financial transparency
🔹 Encourage digital payments
🔹 Strengthen banking liquidity
🔹 Fight corruption and the informal economy
💡 My reading: When this report is viewed together with today’s statements from Parliamentary Finance Committee member Jamal Kojar, the picture becomes much broader.
The removal of zeros appears to be connected to a larger restructuring of Iraq’s monetary and financial system—not merely replacing old banknotes.
⚠️ However, this does NOT confirm a revaluation of the dinar or an immediate opening to international FOREX trading. Those are separate steps that have not been officially confirmed.
🇮🇶🔥 The real question may be what comes AFTER the currency is reorganized, the cash is brought into the banking system, and the financial system is strengthened.
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