It's no secret. The world knows about the monetary reform of the Iraqi dinar. The international world knows about a new exchange rate that is about to come out of this. It's no secret, everybody knows the Iraqi dinar is about to go up in value.
[Response to the recent video below and articles coming out about Iraq's monetary reform] That's how it's supposed to work. The monetary reform education to the citizens.
There's going to be a slew of articles that are still coming. This is just the beginning.
Notice how everything is lining up for the monetary reform? That's how you know it's not BS.
Rafidain Bank Director Ali Karim Hussein Al-Fatlawi confirmed on Thursday the introduction of many products and services that are compatible with economic development, while pointing to a movement to implement a strategic vision aimed at enhancing the banking experience and expanding the customer base.
The General Manager of Rafidain Bank, Ali Karim Hussein Al-Fatlawi, said in an interview with Al-Shabaka Magazine, which was followed by “Al-Eqtisad News”, that “Rafidain Bank is one of the main pillars in providing services to citizens and introducing modern technologies in line with international systems, in addition to adopting the comprehensive banking system to keep pace with the advanced information technology revolution in international banks in the confidentiality of completing transactions and simplifying procedures, away from bureaucracy and routine in work.”
He explained that “the bank has succeeded in offering many banking products and services to customers in a manner that is consistent with and in harmony with the economic development in the country, including:
– Opening savings and current accounts.
– Accepting all types of fixed deposits.
– Financing loans for investment projects.
– Granting loans of all kinds.
– Personal advances.
– Issuing letters of guarantee.
– Opening documentary credits.
– Internal and external transfers.
– Certified instruments.
– Localization of salaries.
– Electronic card for employees and citizens.
– Paying salaries to employees and retirees.
He pointed out that “the bank has recently witnessed a tremendous transformation in the way it deals with customers, banking operations, and commitment to innovation and continuous improvement,” noting that “the achievements made came as a result of the bank’s commitment to excellence in providing financial services and effective contribution to supporting the local economy and enhancing economic growth.”
Regarding future plans, Al-Fatlawi stated that “the bank intends to work on implementing an innovative strategic vision aimed at enhancing the banking experience and expanding the customer base. This in turn reflects the bank’s commitment to providing high-quality and innovative banking services that meet the aspirations of its customers.”
He added, “The bank has implemented, within the framework of the process of stimulating the economy and the labor market, many financing projects for a wide range of development and commercial projects in Iraq, which contributed to enhancing the country’s economic growth, in addition to providing the necessary financing for small and medium enterprises, which reflects its commitment to enhancing the spirit of leadership and innovation.”
He added, “All the bank’s departments are committed to social responsibility, through a variety of initiatives and programs, in which Rafidain Bank has contributed to enhancing the welfare of society,” noting that “the bank has been able to bring about a huge digital transformation in its operations, which has led to a significant improvement in the customer experience and scientific efficiency.”
He pointed out that “the main tasks carried out by the bank come within the government program and with direct support from Prime Minister Mohammed Shia Al-Sudani,” stressing that “the tasks included:
– Responding to the requirements of the Central Bank of Iraq regarding financial inclusion and payment systems.
– Complying with the credit inquiry system and uploading data to the Central Bank of Iraq’s platform.
– Implementing the ticking system for the purpose of providing support and assistance services to users of electronic payment systems.
– Uploading money laundering data to the Anti-Money Laundering Office platform Go Aml
– Working on the legal reserve platform
– Implementing the electronic inquiries system CAR, provided by the Central Bank of Iraq, for inquiries about customers’ financial obligations (individuals-companies).
He stressed that “Rafidain Bank has demonstrated a strong commitment to ethical and legal standards, which has given confidence to customers and investors alike,” noting that “the bank follows strict policies to prevent money laundering and terrorist financing, and to comply with local and international standards.”
... well, we're looking very, very strong right now. The sources we've talked to are talking about this going by the 18th, which is Thursday...we know quadrillions of dollars have been moving around...So this is the time which is very serious for us ... and be prepared to set your appointment to start Thursday. That seems to be the case...the 18th...Is a date that has been decided on to have this start by.7-18-2024 .
Tues. 16 July 2024 Bruce
Sources are talking of this going by Thurs. 18 July.
We should be notified to set appointments sometime between now andThurs. 18 July.
Money is moving and Bond Holders are to receive email tomorrow Wed. 17 Julyfor access to their monies on Thurs. 18 July.
A strong contact in Iraq is in touch with high people in Erbil – that are saying the budget and rate will be published in tomorrow’s GazetteWed. 17 July.
Gesara is to be announced.
If you are a Zim or Currency Holder you should receive the R&R at the time of your exchange.
If you are not a currency holder you should receive your R&R by the end of July.
Trade Minister Atheer Daoud Salman Al-Ghuriri confirmed on Thursday that Iraq’s accession to the World Trade Organization will contribute to stimulating economic growth, during his speech at the third negotiating meeting with the World Trade Organization in Geneva, Switzerland.
“The Minister of Trade and the Head of the Team on Iraq’s Accession to the World Trade Organization chaired the Iraqi side at the third negotiating meeting with the World Trade Organization and in the presence of the Deputy Director General of the Organization Zhang Xingqin, the Chairman of the Working Group for Iraq’s Accession, members of the Team and representatives of WTO countries at the organization’s headquarters in Geneva,” the Ministry of Commerce said in a statement, seen by “Economy News”.
The minister, according to the statement, pointed out during a speech at the meeting, “the importance of Iraq being part of the rules-based multilateral trading system,” stressing that we are “pleased to hold the third meeting of the working group sixteen years after the last working group meeting, which represents an essential step for our government and people on our way to joining, in addition to being a means through which we seek to achieve the development and diversification of our national economy and our integration with the global economy.”
The minister pointed out that “the Government of Iraq is committed to its economic reform program by strengthening trade policy, improving the business environment and creating favorable conditions for foreign investment,” noting that “joining the World Trade Organization will contribute significantly to enhancing transparency, encouraging competition and stimulating the sustainable economic growth of Iraq.”
He continued, “The new Iraqi government, led by Prime Minister Mohammed Shiaa Al-Sudani and within its government program, has defined a clear vision for the future of economic liberalization in Iraq, which included setting timetables for a time plan to achieve the liberalization process and focusing on sectors with high potential such as agriculture, industry and services, which provided for supporting domestic and foreign investments and unifying customs policies on all borders and other measures to facilitate trade and investment and creating investment opportunities.”
“The government has also attached special importance to aligning its trade policy and regulatory legislation with international capacities, norms and standards and strengthening institutional capacities to effectively meet WTO requirements,” the minister explained.
[New Iraqi Dinar 3-zeros Video Review shown below in Frank26's post 3-17-2024]
A 50,000 note, they showed you a picture...and then they took a magic marker and they crossed off the 3-zeros on the 50k note...that was a little misleading...Many people saw...the 3-zeros disappear from the currency and they thought I'm going to be left with a 50 note. I just lost a lot of money.
No...They're not going to take your 50K note and cut the zeros out... .00076 | 1320 - These represent the exchange value of the Iraq dinar. .00076 is used by Forex to reflect the 1320 that is on the CBI website..
It is my hope that the next step of the monetary reform will remove 3-zeros from the exchange rate that Forex is using...After we have lifted the 3 zeros the next step is it goes into a float...as an RI...Then it goes into a re-denomination.
It means you got rid of those 3-zero notes... The exchange rate just changed, you now need...the smaller notes because the exchange rate just got really big.Right now the Iraqi notes are big with a lot of zeros because the exchange rate is tiny. But it is about to flip. By removing the 3 zeros from the exchange rate of .00076 you add value to the currency.