IMO the Iraqi dinar is the linchpin. The Iraqi dinar will go first, then the Vietnamese dong and the others will follow suit.
A lot of people say, well that's double dipping. So what...It's not going to affect anything. If you're smart enough to double dip then go right ahead and do it. I plan to.
Article: "United Nations Secretary General Special Representative Muhammad Al Hasson confirmed
Iraq is on its way to becoming a banking powerhouse domestically and internationally."
Not at 1310! ...1310 is going to be replaced with 1 to 1 because that's where they're almost at...
Article Quote: " ...Hassan pointed out the United States supports Iraq's approach which will in the coming days become a banking force that interacts internationally..."
A Clear Monopoly And Binding Commissions." Observers Warn Of Arab Banks' Dominance Of Currency Sales.
Economy 2025-05-31 | 04:38 1,940 views Alsumaria News – Economic Economist Mahmoud Dagher confirmed on Saturday that Arab banks' takeover of the currency exchange window portends an economic catastrophe. ,”
Dagher told Sumaria News “Arab banks have come to dominate the currency sales window and foreign money transfer operations in Iraq, noting that “this came as a result of the series of US sanctions known as deprivation,
which Iraq strictly adhered to due to the great influence of the United States in the global financial system.”
He explained that “the new reality has opened the way for banks with foreign capital, some with Arab contributions, to work intensively in the field of money transfers,
especially after a number of Iraqi banks withdrew from this activity as a result of the sanctions, which led to a vacuum in the arena that these banks exploited to their advantage.
”
Dagher explained that "only two or three banks currently control money transfer operations, which amounted to approximately $80 billion in 2024, which represents a severe concentration in the remittance market."
He noted that "this concentration has led to the emergence of a clear monopoly, as these banks now control trade and import financing operations in Iraq and impose commissions as they see fit, which has negatively impacted diversity and competition within the banking sector."
He explained that "the state is aware of the seriousness of this situation and is moving toward reforming the banking sector," warning that "any reform must be calm and thoughtful to avoid the creation of powerful financial blocs that monopolize transfer operations." He stated, "The reform process cannot succeed if it is undertaken hastily or without taking into account market balance.
FIREFLY:Alaq on television now again, this is the 4th time he's on TV today and he's saying the CBI is constantly reviewing the deletion of the zeros project and there are no restrictions,
there are no balances with America.
Starting Tomorrow, Payment Cards From These Banks Will Be Suspended Abroad.
Economy 2025-05-31 | 07:22 16,893 views Alsumaria News – Economic Economic expert Munar al-Obaidi confirmed on Saturday that a large number of electronic payment cards issued by Iraqi banks will no longer work outside Iraq as of June 1.
This is due to changes in the mechanisms used to enhance the balances of these cards with global companies such as Visa and Mastercard. told Al-Obaidi Sumaria News,
"Cards belonging to government banks will continue to operate normally, and cards belonging to private banks that have accounts with US correspondent banks outside the country will remain active."
He added, "The problem lies with cards issued by banks that do not have accounts with US banks, as they are currently unable to top up their card balances, which leads to the cessation of their operations abroad."
Al-Obaidi pointed out that "the Central Bank of Iraq is currently working on activating a temporary mechanism in cooperation with the Trade Bank of Iraq (TBI) to strengthen the balances of these banks until they open accounts in American banks," stressing that "the final solution will come when these banks complete their procedures with their correspondent banks in the United States."
According to Al-Obaidi, What's going on?
"Since the end of 2022, payment cards have become one of the tools used to expel foreign currency from Iraq, especially given the price gap between the parallel market and the official dollar exchange rate, which has put significant pressure on foreign exchange reserves."
According to the expert, estimates indicate that "foreign spending via cards has reached approximately $10-12 billion annually, a significant figure that has directly impacted the currency market."
Central Bank Decision
Under pressure from this, the Central Bank of Iraqdecided to amend its operating procedures.
Iraqi banksare now required to replenish their card balances in dollars exclusively through US correspondent banks, to ensure transparency and monitor the flow of funds.
However, because many private banks do not currently have such accounts, their cards will not be valid outside Iraq until further notice.
Al-Abidi confirmed that Is there a solution soon?
"banks are working to open accounts with US correspondent banks, but until that happens, the problem will remain."
He called on citizens to "verify the type of card and the issuing bank, especially for those who rely on it for travel or online shopping abroad."
...we are looking to get started in the first couple of days in June...Could we get an email Saturday? Sunday or Monday?
...Yes – Yes and Yes... you guys can look forward to a great weekend, wonderful month of June..
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We're getting close...we haveinformation saying that the new Dong rate will be coming up on the redemption center screens either [Friday] or Saturday...