In KTFA 

Ccd316: Frank does 900 to 1 mean they have already dropped one zero?

Frank26: No

GFulcher66:  IMO no, its an internal float just like 1000 to 1, reflecting the MCP strengthening as purchasing power inside Iraq only is improving. Very good for us and getting ready for the o’s to be dropped instantly showing a new rate once we are all celebrating

Frank26:  LOL ……  I like your answer better than mine !!!

MrMoerbe:  Just read this… What do you think it means?

Apmcrx:  IMO… Iraq is fully international… we’re just waiting for the real exchange rate of their currency… after Mosul liberation…

Frank26:  Me two …….. Or Three.

International Development Bank gets a membership license for the company MasterCard Global 

Established the International Development Bank on Thursday signed a contract granting basic membership license to the company MasterCard Worldwide, in the Baghdad ceremony.

Said Chairman of the Development Bank management Ziad Khalaf in his speech during the signing ceremony attended by “Economy News,” We look forward through this partnership with international institutions, the advancement of the reality of the Iraqi banking and the introduction of the latest banking electronics and provide the best services to our customers in accordance with the mechanisms and standards that set by the Central Bank of Iraq.

He added that the bank received the e-card license in 2016 according to the requirements of the Central Bank, adding that our bank is ready to cooperate with banks to serve the banking technology revolution and create new services for introducing them into the work of the banking system.

Ziad noted that the Development Bank was able to acquire a significant share of the total domestic trade and banking market through the presence of a wide branch network of 13 branches and covers most of the major provinces in Iraq, including the Kurdistan region.

For his part, General Manager of MasterCard in the Middle East, Mohammed Basil Hill, spoke about the advantages of the card where is considered your key to the world and provide the balance of a ceiling of credit is high and strongly Anfakih exceptional and provide the best services and international and domestic discounts for users of MasterCard card, adding that the customer after receiving the card can take advantage of them in his works daily from travel bookings and offers shopping and entertainment around the world as well as provide special features for the business of hotel reservations, tourist and discounts for purchases and offers exclusive travel to luxury resorts around the world.

Meanwhile, Executive Director of the Association of Private Banks Ali Tariq, stressed that the private banks access and use of modern banking technologies and introducing them into the banking business, noting that the move is a great banker achievement for the development of the banking business and the introduction of modern technology to serve customers.

He noted that the Central Bank of Iraq and the Association of Private banks are keen to encourage banks to use modern technology to keep pace with progress in other foreign banks.