Sanctions and mistrust.. How will the Iraqi digital currency be born?, 4 MARCH

Sanctions and mistrust.. How will the Iraqi digital currency be born?

Why don't we develop our systems?

Financial and banking expert Mustafa Hantoush confirmed that talking about launching an Iraqi electronic currency at the present time is premature, in light of a banking system that suffers from structural problems and weak infrastructure.

He explained to “Jarida Platform” that “the culture of electronic payment in Iraq is still immature, and unless the government intervenes and imposes the adoption of electronic payment in government departments, we will not witness any real development in this field.”

Hantoush added that “Iraq does not have an integrated internal transfer system and relies on international systems such as Visa and MasterCard, which makes it a priority to develop the national switchboard, enhance the electronic payment infrastructure, and spread the culture of digital payment among citizens.” He pointed out that “electronic payment, in essence, depends on the presence of funds deposited in banks and their electronic transfer instead of direct cash exchange, which requires a strong infrastructure and broad confidence in the banking system.”

Hantoush stressed that “even major countries such as the United States, Europe and China have not yet been able to develop integrated electronic currencies due to fears of electronic breaches and weak cybersecurity systems,” wondering about the extent to which Iraq, with its current banking system, can achieve this.

He added, "Talk about an Iraqi electronic currency does not match the reality of Iraqi banks, which suffer from sanctions, the absence of their real role in the market, and the presence of a large percentage of money circulating outside the banking system, in addition to the lack of trust in banking institutions."

He concluded by saying, “The Central Bank still relies on old evaluation mechanisms, and the Islamic banking system has not witnessed real development in Iraq, which makes the priority now to build an integrated banking system, enhance confidence in it, and develop its electronic infrastructure before thinking about launching an electronic currency.” link

ADAM STEPHENS: I'm getting VERY VERY excited as Tier 4B is almost upon us!!!! , 4 MARCH

 Adam Stephens

Hello Ladies and Gentlemen... After watching Reno closely last week, this last weekend and today, I'm prepared to share that the traffic going to Reno to conduct business has dropped off substantially. 

Last week the daily numbers of private jets going into Reno International Airport dropped to a daily average of 10 that fit the previous week's patterns of flying in for 4 to 5 hours and then leaving to go back to the city of origin. 

Keep in mind for the previous 5 weeks we were seeing 35 a day that followed the pattern which now corroborates with what we know of Tier 3, 1 and 2 as becoming Liquid... Many who are already and about to be in the next couple days. 

Yesterday, Sunday March 2nd... There were no jets that matched our pattern. Today, so far I've got 5 jets that look to be returning from cities we have seen before with Return legs. 

Seeing this... in my opinion and analysis, we are at the end of the major fly in business. All that's left are the stragglers and people who came in not prepared and needed to return with all their documents. 

This is very nicely coinciding with President Trump speaking tomorrow night at the Capitol. 

We are ALMOST there Ladies and Gentlemen.... MarkZ spoke on this today and it makes what I'm seeing make total sense and logical. I'm getting VERY VERY excited as Tier 4B is almost upon us!!!! 

Yesterday I shared a post to ask that you all get ready... Have all of your currencies and paperwork ready to go... Double check your items. Don't be left flat footed and not prepared.

Frank26 Question: "Will Ramadan affect the timing of the exchange rate?" @DINARREVALUATION ​

 

MP: Washington directly supervises the financial system in Iraq, 4 MARCH

  MP: Washington directly supervises the financial system in Iraq

Representative Mukhtar al-Moussawi confirmed today, Monday, that the United States directly supervises the financial system in Iraq, and is aware of the entire movement of money.
Al-Moussawi explained to Al-Maalouma that "the United States directly supervises the financial system in Iraq, and is fully aware of the movement of funds and exiting the country, which gives it broad economic influence that affects the financial decisions of the Iraqi government.

Regarding the security official, Al-Moussawi said that "Iraq has recovered in terms of security and has become able to protect its lands from terrorist attacks, thanks to the development of the capabilities of the armed forces and the Popular Mobilization Forces," ruling out "the possibility that Washington will use the ISIS terrorist organization card again, given the expected failure of such attempts in the face of the high security readiness enjoyed by the Iraqi military apparatuses.

" Al-Moussawi criticized "some parties that promote the possibility of the return of the threat of the terrorist organization, and an attempt to repeat the 2014 scenario," stressing that "the security forces and the Popular Mobilization Forces are ready to thwart any terrorist activity that may target the country."

According to observers, the United States is playing its suspicious role in Iraq, whether through economic intervention or waving the security card, which calls for a firm national position to end its guardianship and restore full autonomy    link

TIDBIT FROM PIMPY, 4 MARCH

 Pimpy  

What does [a digital Iraqi dinar] mean for those of us who have the paper IQD? 

 The truth of the matter is they hadn't said one way or another. 

 If they go 100% digital what you have to pay attention to is, does the digital only work for the people within Iraq?

  So it makes it okay for people outside of Iraq to hold paper currency because if they go 100% digital then that means we're going to have to give up our IQD. 

 We're going to have to turn it in.  Either we have to sell it back or we're going to have to figure out how to get a digital version of it at the current exchange rate.  I don't know if that's going to be possible.  The odds are they're going to force people to sell the dinar...

What does that mean for speculators?  ...We're going to have to wait and see...

NADER FROM THE MID EAST: " Soon we'll be in every bank in United States" ‪@DINARREVALUATION‬

 

Mazhar Saleh: Geopolitical controls push towards shifting to official channels for currency trading , 4 MARCH

 Mazhar Saleh: Geopolitical controls push towards shifting to official channels for currency trading 

3/3/2025

Mazhar Muhammad Salih, the financial advisor to the Prime Minister, confirmed that the geopolitical controls imposed on informal trade contribute to expanding dealings with official outlets for foreign currency, which contributes to financing foreign trade through the sound international financial system.

He pointed out in his statement to {Euphrates News} that "this shift aims to move away from informal financing from the parallel dollar market intensively, especially with the change in the behavior of small traders in avoiding the parallel market linked to the countries' regional and geopolitical problems."  

Saleh added that "this shift comes in the context of the importance of increasing Iraq's foreign reserves and confronting money smuggling operations, in addition to facilitating external transfer operations through Iraqi banks that deal with international banking correspondents, at an official exchange rate of 1,320 dinars per dollar."

He also stressed that the end of the compliance platform phase adopted by the Central Bank of Iraq in the past two years and the country's entry into a new phase has contributed to providing great flexibility in financial transfers through official channels.   LINK