We were talking about the ongoing effort by Iraq…namely the Central Bank to establish ongoing banking relationships.
The Saudi’s said they are going to support, help and assist the Iraq banking system in any way they can.
If there is any one entity in the Middle East that is engaged in the global banking activities it’s the Saudis.
So why does Iraq need to have banking relationships…it’s because they are going to use the IQD…and the reason they are not using it today is because it’s so undervalued.
But, for the Saudis to come on board…that’s huge