MarkZ
[via PDK]
It’s been an exciting morning…Been proving and disproving pictures of lower denoms....There is a good chance one of my Iraqi contacts will be sharing pictures of the new Iraq $20 note today .
We do not want to get folks hopes up falsely. So doing more vetting today. The conversation in Iraq is small denominations /notes. Why would they release small notes unless there is a value change?
ECONOMIST: NEW STEPS BY THE CENTRAL BANK REGARDING DOLLAR TRANSACTIONS
Economic expert Safwan Qusay revealed today, Sunday, that there are new steps by the Central Bank to enhance transparency and global openness.
Qusay said in a statement to Al-Maalouma Agency that “the Central Bank of Iraq and the US Federal Reserve are moving towards authorizing Iraqi banks to contract with international auditing companies, instead of relying on the dollar selling platform alone, with the aim of auditing credits and transfers before they are implemented.”
He explained that “this measure is in the interest of the Central Bank, as it contributes to avoiding the risks of money laundering cases and international sanctions,” noting that “this step is a turning point that contributes to drawing a clear map for the work of Iraqi banks on the global stage, as they will deal with international correspondents and financial guarantees in addition to instant transfers, which enhances their position in global markets.”
He pointed out that “it is possible to rehabilitate banks that are currently facing restrictions, which will lead to achieving greater stability in the exchange rate,” indicating that “the Central Bank attaches special importance in the next stage to increasing foreign currency reserves, which contributes to facilitating trade operations and supporting economic activity.”
Frank26
[Sacramento California Chase bank story]
A: [The wealth manager] before he even sits down, the first thing he said, you're right. Right now we don't exchange [Iraqi dinar] but 'when it goes live' we can help you right over there and he pointed to the tellers.
I said do you guys verify on site?
He said yep, when it goes live you can just go stand in line right there, they'll run it through the machine and...then it will be right in your account...no hesitation...It was almost like he was saying, we're waiting for it to go live too, is how I took it...
FRANK: Nobody knows when, but they all have been put on alert. That's why the mantra, it's a scam is no longer to be found anywhere. It has become extinct because they are preparing to deal with this.
THE IRAQI DOLLAR AND THE FIRST DAY “PASSED PEACEFULLY”.. THE CENTRAL BANK IS INNOCENT AND DEVOTED TO THE DINAR
Quick review by Mahmoud Dagher
“The first day passed peacefully,” said Dr. Mahmoud Dagher, a prominent financial expert, commenting on the first day of official work after the New Year’s holiday and the start of implementing the decision to cancel the dollar selling platform for traders and companies, which had been controversial for 20 years. Since Sunday morning, there has only been a slight increase in the dollar price.
According to Dagher, who managed the operations of the Central Bank for many years, the platform’s function has changed from being a seller of dollars to Iraqi companies, to an intermediary between Iraqi banks and foreign correspondent banks (JP Morgan and Citibank), which will be responsible for auditing and approving the transfers, instead of the Central Bank of Iraq, which has cleared its responsibility in this way according to an understanding with international institutions and the US Federal Reserve, and is currently devoted to taking dinars from Iraqi traders and converting them into dollars to be transferred to foreign banks that have begun to organize Iraqi trade.
Dr. Mahmoud Dagher – Economic Expert:
Canceling the platform does not mean that the Central Bank is not converting dinars into dollars.
The Central Bank receives the dinar from the banks, which is the money of the customers (traders), and converts it into dollars and delivers it to the foreign correspondent banks. It will not undertake the auditing, but they will undertake that.
The currency selling window will remain, but its mission will not be to sell dollars but to convert dinars into dollars, and there was no problem in the market today, Sunday, although the dollar rose very slightly.
The Central Bank announced foreign currency sales (dollars) today, Sunday:
KTFA FRANK26: "THE NEXT STEP OF THE MONETARY REFORM HAS 2 OPTIONS.".....F26 Al-Nusairi: Explains the new mechanism for external...