Clare: The Iraqi Trade Bank issues a statement regarding foreign remittances
Today, Wednesday, the Iraqi Trade Bank issued a statement regarding foreign commercial transfers.
The media expert of the bank, Aqil Al-Shuwaili, stated in a statement received by “Al-Iqtisad News”, that “customers of the Iraqi Trade Bank from Iraqi private sector companies can make foreign commercial transfers through the platform of the Central Bank of Iraq to all countries of the world through the bank’s branches through their accounts opened in Iraqi dinars with the bank.” It is calculated at the official rate approved by the Central Bank of Iraq.
The statement added, “The economically restricted countries are excluded from all banking transactions link
JimmyJJ: IMO: Iraq has pulled most of the physical large denom notes off the street, they’ve persuaded the citizens to start using banks by passing their version of FDIC, they’ve gotten the citizens to only use dinars, and they’ve managed to control the black market currency prices.
Iraq has gotten Iran to stop their stealing, and they have gotten control of the corruption that used to make them one of the worst places to do business in the world. They have taken control of their politics, and got both Iran and the religious leaders to stay quiet.
They have agreed on the HCL law, and appear to only be waiting for the go-ahead to pass it and to pass the three year budget.
Iraq has taught the citizens sufficiently that everyone understands the plan, and they are all just waiting for the CBI to change the rate. They have stopped rioting, and the green zone is open and terrorism appears to be under control.
Today, they appeared to officially announce to the citizens that they are Article 8 and the CBI can exchange dinar for any currency.
Iraq has shown fiscal discipline sufficient to have massive financial reserves and to support a higher exchange rate. They have satisfied the big 4 int’l agencies, and have their support for Iraq’s present and future monetary policy.
They have started rebuilding Iraq, and are poised to jumpstart that in a major way once the budget is passed.
In short, IMO, they have completed everything we have been studying, hoping, and praying about for decades. Frankly, IMO, the only real threat to Iraq’s glorious future is that their fear causes them to delay too long and the window they are in right now starts to deteriorate. Or, in other words, they only thing they have to fear is fear itself.
What are they waiting for? IMO? Nothing. Finish it, and live happily ever after. Don’t let your fear keep you from seizing this glorious day ahead of you, Iraq.