[Reply to Guru Frank26's Dinar on Forex post 3-5-2024 below]
There is no such thing. A) The rule of One Price and B) There is no back side or private side to FOREX...With that being said: There are platforms in Shanghai and Singapore that are totally unregulated.
It is the wild west of commodity trading and they create investment packages where they bundle up packages containing many different speculative investments into a bundle and trade those. But that isn't happening now either though it was a thing with the IQD several years ago but not now...
AUTOMATION AT BORDER CROSSINGS: HOPE FOR IMPROVING THE ECONOMY AND COMBATING CORRUPTION
Since the fall of the dictatorship in 2003, Iraqis have dreamed of transforming the state system from paper to automation through the electronic governance portal.
Border crossings, customs, and taxation are among the departments that suffer most from corruption and waste, which costs the state treasury huge sums estimated at $7 billion annually.
Hope in the Sudanese government:
The Sudanese government gives hope for implementing the automation system in departments and bodies such as border crossings, customs and tax.
Benefits of implementing an automation system:
Reducing evasion of customs duties and taxes.
Availability of detailed information on import content.
Reducing human interference in monitoring, evaluation and demarcation processes.
Providing a detailed statistical information base on the country’s foreign trade.
Availability of speed in completing customs transactions.
Great countries are role models:
Great countries tend to keep pace with technological progress by following a strategy of reducing expenses and maximizing revenues, and this can only be done by making governance an integral part of the structure of building an institutional state.
Benefits of implementing an automation system in the customs and border ports sector:
Achieving stability, economic leaps, and stability at various levels in the short and long term.
Contributing to reducing the spread of corruption in this joint and cutting the way for waste and tampering with public money.
Protecting the Iraqi state, society, and economy from prohibited, suspicious, and smuggled goods that are unfit for consumption and use.
Prime Minister Muhammad Shiaa Al-Sudani’s support for the Customs Authority:
This support contributed to achieving a significant and clear leap and improvement in the Authority’s work.
The Authority’s reports in 2023 show an increase in the revenues of some border crossings that implemented a local electronic system.
Implementing an automation system at border crossings, customs and taxation is necessary to improve the economy and combat corruption, and the Sudanese government gives hope in achieving this goal.
People it's really this simple. If Iraq original exchange rate in the 80s was 3.00.
And they told their citizens they want to go back to a previous era or prosperity they are obviously not referring to any current exchange rate.
This is not something you have to pray, hope, and wish for. You are hearing this from the economists, governors, and finance deputies. They just announced they have completed all requirements to join the WTO.
And an announcement of their accession is imminent.
They want to come out strong because they have an entire country to rebuild.
1 dollar is not going to do the trick. 2 dollars will get them by but not enough to transform the country. 3.00 will do the trick. Even of they come out at 2.70 they are 30 cent shy which will move up very quickly to the 3:1 range.
ECONOMIST: ELECTRONIC PAYMENT WILL REDUCE DEMAND FOR FOREIGN CURRENCY IN IRAQ
Mawazine News – Baghdad The economist Khaled Al-Shammari stressed that electronic payment will increase investment opportunities by depositing money in banks, while he pointed out that the ATM card increased to one million cards during this year.
“The process of switching to electronic payment reduces the cash payment of the currency
, thus reducing the demand for the foreign currency and increasing confidence in the local currency,” Al-Shammari said in a televised interview.
He added, “Only about 15% of Iraqi cash is deposited in banks,” noting that “the increase in bank deposits is used for investment purposes instead of disappearing them in the citizen.”
Al-Shammari called for “the need to put the benefits to the bank deposit process for the purpose of encouraging citizens,” pointing out that “citizens are afraid of hacking and forgery in electronic cards, so it must be directed to add security elements such as the adoption of an eye fingerprint.”
Iraq Dinar Update!
I stumbled upon this video earlier, and if the Iraqi Dinar is on the verge of being listed on the Forex Exchange, it's going to be absolutely EPIC just as
