Everyone expected the release last Monday – it was not to be. Release to join the international economy required passing of one small law requiring 100% certainty they could support the new rate.
It will be happening at a moment’s notice – the next couple of days is the target.
Redemption Centers are no longer called RCs – they are NOW to be known as – “Banking Alternative Centers” They are directly connected with the banks and ALL ready to go!
Bank cards are being totally accepted by citizens. People being told they do not need actual hard currency – cards are more secure – and will be necessary for the new currency model – being told that the new currency will be in full operation within days.
Iraq 2024 budget is out – price of oil will be unchanged.
CBI is in full control of the final rate. It should be done and finished over THIS WEEKEND!!!!
ALL trade with Iraq will be done in IQD – not USD!
The IQD MUST release first – will start the change to the new world economic system
We heard from our source in Iraq that not only do we have an Intl and In-country rate but we also have Iraq trading that rate internationally about when markets close tomorrow Fri. 19 Jan. About 5 – 6 pm EST we should see it in the US.
Some time Sat. 20 Jan. Bond Holders should receive access to funds – in about 48 hours time Bond Holders will be able to see what is in their accounts and get access to 10%.
Today Thurs. 18 Jan. from 11am to 2:15 the US Treasury, Wells Fargo and Redemption Centers around the US held a final Conference Call on all the information and protocols that the Redemption Centers needed. We have over 11,000/12,000 Redemption Centers around the US. They said it was the last email and last CC they would have.
We have two Very High non-related bank sources. One of our strongest sources is saying that we will have our notifications by or before Sat. 20 Jan, or they could start on Mon. 22 Jan as that is what the Redemption Centers are preparing for.
Your Quantum Account is a US Treasury non-interest bearing account. Your primary bank account will be able to earn interest. Your Quantum card will only be used to move money out of your Quantum Account.
So far the conflicts in the Middle East have not affected the Iraqi dinar exchange rate. Iraq continues to increase its GDP and create more streams of income outside of the oil industry. These are the recommendations of the IMF to create economic stability.
There are 4 major reasons Kuwait, Iraq's next-door neighbor has the strongest currency in the world...Kuwait dinar is $3.36... 1. Major exporter of oil. Kuwait is estimated to hold 10% of the world's oil reserves. The tiny country has a population of 4.3 million people vs Iraq who has approximately 43 million people and a lot more oil than Kuwait. 2. Kuwait has an excellent reinvestment of oil revenue. Kuwait uses its oil revenue to build infrastructure and develop microeconomic sectors to increase its GDP.
What will it take for the Iraqi dinar to strengthen against the US dollar?
Imagine a country as a business. The Gross Domestic Product (GDP) is essentially its annual report showcasing the value of all goods and services produced.
A high GDP indicates a booming economy.. .The currency rate on the other hand is a bit like a company's share price. It's the global market's way of saying how much it thinks that...country is worth.
The stronger the currency, the more confidence the world has in the country's economic stability and growth potential. How does a GDP affect a country's currency rate?
Simply, a higher GDP signals a stronger, productive economy. This attracts foreign investors, who need to buy the country's currency to invest. This surge in demand for the currency increases its value, or 'rate'...A rise in Iraq's GDP implies a healthier economy and a potential increase in the dinars value.
What would it take for the Iraqi dinar to strengthen against the US dollar? The answer lies in economic development and stability. The Development road project...aims to boost Iraq's GDP by improving infrastructure, fostering foreign investment and stimulating economic growth... With the right steps and sustained growth the dinar's narrative can only get stronger.
The Iraqi dinar is not on the Forex market, yet. The Iraqi dinar is an exotic currency, as is the Vietnam dong... Currencies are traded in pairs on the Forex Market. The 3 main types... majors, minors and exotics...The more liquid an asset the easier and more efficient it is to turn it back into cash. Major currency pairs have the highest trading volume... Exotic currencies...are not traded that often. There is little technical analysis or data available to support trading decisions for exotic currencies.
During 2024.. The Iraqi Central Bank Plans To Cancel The “Electronic Platform” For External Transfers
Economy News – Baghdad The Central Bank of Iraq announced today, Thursday, its readiness to cancel the electronic platform for external transfers during the current year.
According to a document issued by the Central Bank, and obtained by Al-Iqtisad News, “Within the framework of the Central Bank of Iraq’s endeavor to enable Iraqi banks to establish and establish solid banking relationships with the global and regional banking sector in order to achieve the sobriety of the Iraqi banking sector and full compliance with international standards and requirements, it plans The Central Bank of Iraq to gradually cancel the electronic platform for external transfers during the year 2024, leading to its complete cancellation by the end of the year and maintaining it for audit and statistical purposes.
The document added: “Iraqi banks must work to be prepared and able to access and deal with correspondent banks, and there are two types of requirements, some of which are basic and must be provided and worked to accomplish as quickly as possible, and some are important and support the banks’ efforts in this field, and will be required.” All banks are required to provide the three basic requirements below in order to assist them in opening accounts with correspondent banks.
Regarding the basic requirements, she stated that “these requirements represent the minimum documents that must be provided for negotiations with correspondent banks, and they reflect the bank’s financial and credit status and level of compliance, and they are:
Bank statement for at least 3 months.
A report on the bank’s financial and credit status issued by an approved authority.
Bank compliance policy.
The Central Bank of Iraq continued: “Banks can obtain more information about other requirements required of correspondent banks by communicating with the Central Bank of Iraq.”