[Post 1 of 2] Article: “ECONOMIST: THE CENTRAL BANK’S POLICY IS MOVING TOWARDS GLOBALIZING IRAQI BANKS” Quote: “Safwan Qusay confirmed that the Central Bank’s policy is moving towards globalizing Iraqi banks, while stressing that it will contribute to raising the status of these banks globally” also “the process of ending dealings with the electronic platform will contribute to accepting local banks that have the ability to provide guarantees and international compliance conditions with international correspondent banks.” Yes, “providing guarantees and international compliance” is all insurance related. Investors in Iraq need to know that their funds in Iraqi banks will be protected…
[Post 2 of 2] Article quote: “He added that these correspondent banks can carry out the process of changing the Iraqi dinar to any global currency immediately, and for more than a million banks around the world.” What did it just tell us? A million banks around the world? What does this mean to us as investors? We know that…conditions to get back to FOREX that this insurance part is a pillar of the financial reform. Therefore, it is a reform that needed to take place and is now taking place. Also, I want to add that the statement of “changing the Iraqi dinar to any global currency immediately” is an amazing statement…Could this news get any better at this time? Can this be what is holding up the revaluation and the reinstatement?
