Saturday at the Sin Dialogue Forum in Baghdad. The governor of Iraq’s central bank, Ali al-Alaq, told a room of decision-makers one phrase. “We are working quietly.” …Here is what the room got told next. Cash dollar imports cut from 14 billion to 4 billion in 12 months. 95 percent of dollar sales now move through the electronic platform. Foreign transfers covered daily…79 commercial banks queued behind it for digital banking licenses. Note, this is not a status update. I would more appropriately classify as a plumbing diagram…The wholesale rail is built. The retail rail is loading. Treasury can audit, sanction, and switch the platform off bank by bank. Meaning a clean IQD runs through pristine rails on both shores. That is the difference between theatre and architecture. Seat the chair. Pass the budget. Move the rate. 23 days.
