The following operational steps must be completed in sequence to facilitate a successful redenomination and revaluation of the Iraqi dinar at a target parity of $1 USD = 1 IQD: 1) Phase II Banking Reform Completion & External Validation. Full FX access restored to all private Iraqi banks upon completion of phase-one reforms (7 banks have already been reinstated). 2) Digital Payment Infrastructure Hardening. Finalize integration of licensed electronic payment companies into a unified digital payments system. Expand adoption of international standards for cross-border operations and card ceilings. 3) Zero Deletion Execution…Implement redenomination by removing three zeros from existing dinar notes (e.g., old IQD 10,000 note exchanged for new IQD note). Launch public education campaign to minimize confusion during transition.
