DELTA: Will Governance Attract More Investment to Iraq?
Working on the governance of joint stock companies and the separation of capital from executive management, the Iraqi Securities Commission, during its conference held in cooperation with the International Monetary Fund and the IFC, believes that they will achieve positive results in attracting investors.
“We believe in the importance of governance as a regulatory framework that works on the institutional work within the joint stock companies, leading to investment and business development,” said Alaa Abdul Hussein Al Saadi, head of the Iraqi Securities Commission.
Not only that, but the conference saw a road map for the future of the financial and economic policies in Iraq , according to participants. “A broad outline and road map for the future of fiscal and economic policy in Iraq must be drawn up
” said Abdul Rahman al- Shaikhli, a banking adviser.
The Securities Commission is working to complete the file of Iraq to join the International Securities Authorities Organization to promote investment in Iraq, which reflects positively on the overall national economy.
Matthew1: Great call last night Frank! Like you said last night and last Friday, IMO RI very soon in 2018 after Article 2, and full RV status in 2019. An RI that leaves Iraq and goes International is what we need and want before we can have the full RV. RI = just over 1 to 1 with RV higher in/over/up to or sooner than 72 to 78 days after RI leaves Iraq’s borders. IMO!
Mike100: Also what we have been taught an RI isnt for dinar holders IMO so.. that does take us into 2019 not sure why everyone is so worried though i think once the RI takes off an Rv should follow closely behind
Iggy: that depends on if they ri at 1 to 1 or 1 to 1190…if they ri at 1 to 1 then it will be for everyone as a ri makes them international. 1 to 1190 changes nothing even if international…imo
Pattycakes: You and me are of the same thinking. A friend of mine felt sad thinking that she couldn’t cash out any of her dinars if they ri in 2018 and rv in 2019. I told her if Iraq RI at 1 to 1 or higher that makes them international so yes we can exchange. I hope i am right. If i am wrong anyone is free to give me their opinion. Thanks
S.Josh: Technically, you can already exchange today (some banks do, as well as currency exchange companies) though the rate is tied to the current program rate.
IMO, RI = international.
When they RI, we will be able to exchange in any international bank that handles foreign currency.
When they RI, they will also be deciding and telling us what rate they’ll go international at. The indicators and articles point to the intention of a 1:1 launch (stating they will be on par with the USD) followed by a controlled/managed float up until the point they decide to RV.
To me, these indicators have been the plethora of articles reinforcing their intent to drop three zeros, as well as the articles and evidence we’ve seen regarding the intent to issue small category notes and metals/coins again. It is my understanding the ATM network and banking system in Iraq has been primed for handling these small category notes.
No matter what the rate, when they RI, the IQD is internationally recognized. It will then be up to each to determine when the rate is at a point they feel inclined to exchange.