JON DOWLING
So now Iraq is readdressing the issue of the project to delete three zeros. This is good, but it has to happen under a non corrupt proxy government. If it happened now, it wouldn’t be a Godly RV and wouldn’t be worth much. The timing is everything. Be patient folks, it’s all coming together at the right time.
@JonDowling
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Iraqi Banks Expand Foreign Transfer Operations with Multiple Currencies
The Central Bank of Iraq has announced a significant development in the country's banking sector, marking the beginning of a new phase in foreign transfer operations.
As of August 30, 2024, a delegation from the Central Bank of Iraq in New York revealed that 13 Iraqi banks will participate in external transfers, utilizing multiple currencies.
This move is designed to enhance the diversity of currencies and facilitate international transfer operations, further integrating Iraq into the global financial landscape.
The participation of Iraqi banks in external transfers with multiple currencies is expected to have several positive implications for the Iraqi economy:
While this development is a significant step forward for Iraq's banking sector, there are challenges that need to be addressed:
The Central Bank of Iraq's announcement regarding the participation of Iraqi banks in external transfers with multiple currencies marks a significant milestone in the country's financial sector development. As Iraq continues to integrate into the global economy, this move is expected to bring about increased financial flexibility, enhanced global trade opportunities, and potentially attract foreign investment. However, addressing the challenges associated with this development will be key to its success.
KTFA
FRANK26: "A SCAM WOULD NOT ALLOW THIS"............F26
August 30, 2024
The delegation of the Central Bank of Iraq in New York announced the start of the new phase of foreign transfer operations with the participation of (13) Iraqi banks, in an important step aimed at enhancing the diversity of currencies and facilitating international transfer operations.
This announcement came after reaching an agreement on the mechanisms for regulating these operations, as it will include dealing in the euro, Chinese yuan, Indian rupee, and UAE dirham.
The delegation confirmed the definition of the scope of work of the international auditing company E&Y, which will review the transfer operations to ensure their safety and compliance with international standards. This step is a reflection of the Central Bank of Iraq's commitment to achieving the highest levels of transparency and security in all foreign transfer operations, and enhancing confidence in the Iraqi financial system.
This initiative came within the framework of the Central Bank of Iraq's ongoing efforts to support economic growth and expand the horizons of international cooperation with global markets.
Central Bank of Iraq
Media Office
August 30, 2024
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8/30/2024
Baghdad - WAA
The Central Bank of Iraq announced, today, Friday, the participation of 13 Iraqi banks in the external transfer.
Clare
Article: " "Two conditions to achieve it" .. Al-Sudani's advisor rules out removing 3 zeros from the currency"
Quote: "Salih, ruled out the government removing three zeros from the Iraqi currency at present, noting that achieving this requires two basic conditions...
Explained that the three zeros added price and monetary inflation to the currency, starting with the Iran-Iraq war...generated inflation in the value of the currency.
He pointed out that when prices rise, we need larger denominations of money to maintain the equivalence between price and money. For example, due to price inflation, 25 Iraqi dinars have become 25,000 dinars. Saleh pointed out the importance of reducing the calculations that have reached trillions in recent years. .."
Article Continues "...adding that the process of raising three zeros does not only mean the value of the currency, but also the calculations and statistics...
Removing three zeros from the currency, globally, requires two conditions: political stability and economic stability. When these two factors are available, countries resort to removing zeros from their currency, adding that the value is fixed and not affected. Rather, it is a relative change....
The project to remove three zeros we worked on between 2011 and 2012, but there was a delay in the matter, because it requires a change in the accounts of the Republic of Iraq and statistics, and requires cooperation between monetary policy and all government policies."
