Call for the issuance of electronic currency

[DinarThug]

 

Cliff Notes - Get Ur Cliff Notes Here ! Get 'Em While They're Hot ...

 

 

8-1-2016   Newshound Guru Bondlady  Article quote:  "...Select the central bank governor on the Keywords, Saturday, 2017 as the date for the launch of the electronic currency through the mail or e-dinar cards..."   This a well thought out plan and it obviously has the IMF written all over it...a well thought out plan to move the country forward with each step analyzed and implemented at the appropriate time!  We have learned how Iraq has been setting up the smart card and getting the facilities ready in many of the provinces with the goal of having it in ALL of the provinces...this will bring in much of the dinar off the streets which we know is necessary to the currency reform plan.

 

8-1-2016   Newshound Guru tlm724    We saw Ernst & Young taking control of the state banks and they indicated it will take 125 working days max to do what needs to be done.  Which should be somewhere around November for completion. The timing is no coincidence I am sure.  Back in June the Cabinet approved the launch of electronic applications for the 6 trillion dinar stimulus loans, even the Integrity Commission is electronic now.  So the announcement from the CBI is saying they preparing the infrastructure and facilities for E-dinar, getting everything ready for the end of the year or the beginning of 2017. Tis a beautiful thing! 

 

8-1-2016   Newshound Guru tlm724  This will open them up internationally, reduce corruption and eliminate red tape. There won't be much need for the currency traders either.  Also it will stop much of the currency counterfeiting!  This will reduce and eventually eliminate the need for the dollar as the program gets into full swing. This opens the door for the deletion of the 3 zero's!! This is everything "currency reform" the epitome of the plan!  The stars are lining up. 

 

[SnowGlobe7]

Love you THUG

[DinarThug]

On July 27, 2016 at 4:14 PM, DinarThug said:

 

           

 

37 minutes ago, SnowGlobe7 said:

Love you THUG

 

Right Back At Ya Ms Kitty !

     

 

[ronscarpa]

[ChuckFinley]

7 hours ago, gregp said:

 IRAQ BANKING LAW - Page 31 - Section 6 – Accounts and Financial Statements - Article 40 Financial year: The financial year of domestic banks shall begin on January 1 and end on December 31 of the same year. For a branch of a foreign bank, the financial year may differ. 

Can someone varify this please? Some of you braineeyacks... 

Thanks gregg for the info. It looks like they are using now until the end of the year to get straight.  

[DinarThug]

 

Post From BondLadys-Corner
BLC Admins Tlm724 & Shredd News & Comments 8-1-16 

The central bank gives the government banks until September to adapt itself to the electronic systems

Author: ASJ  Editor: BK, BS 08/01/2016 12:48   Long-Presse / Baghdad

Iraqi Central Bank revealed on Monday, all give him the government banks until next September, to adapt itself to electronic systems and transactions, while among the beneficiaries and users proportion of those dealings in Iraq,

"not to exceed" ten percent, favored the possibility of the contribution of orientations to expand their use and take advantage of 77 percent of the money supply in the possession of citizens outside the banks, get rid of the cash circulation problems.
 
The governor of the central bank and the agency, on the Keywords, in an interview (range Press), "The payment system is an important pillar of the banking and financial sector," noting that it "consists of two phases first is related to the large total transactions between banks and companies within a system to settle and make clearing operations and liquidation of the great number of daily banking transactions. "
~~~

He Keywords that "the second phase of a retail of transactions daily for individuals to pay their obligations through electronic or mobile phone and other card payment system," noting that "the role of the central bank is monitoring and supervision beyond the field to the presence of problematic in banking transactions at the country level and the requisite large size of the precise organization. "
 
He explained the governor, that "the role of the central bank may be an operator or partner or used for system electronic banking," stressing that "the future role of the Central Bank is to supervise the system to be entrusted to operating the task to a company or a group belonging to the private sector companies."
 
Keywords and saw that "the application of electronic trading requires work to provide the infrastructure required," pointing out that such "legislative legal structure governing the banking services to all its details."
 
He said the central bank governor, that "the Central Bank conducted a comprehensive review of the laws of banking and regulations in force and to develop an initial draft of the required legislation in this area, and issued an electronic payment system and controls subscribe to the infrastructure of the payment system retail," noting that "the amount of $ 20 trillion dinars are being handled by a month under this system, a fast, accurate and support the national economy, away from a lot of problems. "
 
Promised Keywords, said that "very cool and sophisticated retail payment system and helps the bank to follow all these processes and to prevent violations and abuses, which is updated through the end of 2015, which are no problem," pointing out that "the Central Bank is currently working with the World Bank to review and evaluate the national payments system, where it was formed three locations of the data in the whole of Iraq, as well as one location outside Iraq to recover from the risks. "
 
He went on, saying the central bank governor, said that "Iraq needs a comprehensive banking systems, followed by the banking system to be able to achieve its objectives," revealing "a lack of State-owned banks for such an electronic system even though it has hundreds of branches."
 
And gave Keywords "State-owned banks until next September, to adjust their positions within this electronic system," Mstrsla that "the central bank takes the organizational side by issuing controls the use of electronic credit cards and there are plenty of companies that submitted bids for work on the processing of these cards the bank to the fact that the center has divided National, which regulates these processes, and represents an incubator electronic banking operations. "
 
Continued conservative, that "the Bank has developed a court will be launched in early 2017 to regulate such operations plan," and expressed regret that "as a result of the low percentage of beneficiaries and users in Iraq who do not exceed ten percent, and eight percent of these are very limited operations such as receiving only salary, and that only two percent of Iraqis are using smart cards ".
 
He expressed the Keywords, believed that "the trends in will help expand financial inclusion through the entry of more citizens to these systems and thus take advantage of in the possession of people's money supply which amounts to 77 percent outside the system, as well as get rid of the cash circulation problems."
 
The governor of the central bank and the agency, identified in (the thirtieth of July 2016), the next year in 2017, as the date for the launch of the electronic currency through the mail or e-dinar cards, he returned that will facilitate transactions between government departments.     LINK 
 
 [tlm724] Thank you BondLady !! Loving the news outta Iraq !!
 
[tlm724] Iraqi Central Bank revealed on Monday, all give him the government banks until next September, to adapt itself to electronic systems and transactions *wolfwhistle*
 
[tlm724] love a time schedule
 
[tlm724] while among the beneficiaries and users proportion of those dealings in Iraq, "not to exceed" ten percent, favored the possibility of the contribution of orientations to expand their use and take advantage of 77 percent of the money supply in the possession of citizens outside the banks, get rid of the cash circulation problems
 
[tlm724] take advantage of 77 percent of the money supply in the possession of citizens outside the banks, get rid of the cash circulation problems
 
[tlm724] get those dinars in the bank !!
 
[tlm724] Shredd the deposit law is done and has been Gazetted  
 
[Shredd] had to be for this move
 
[tlm724] yes !
 
[tlm724] He Keywords that "the second phase of a retail of transactions daily for individuals to pay their obligations through electronic or mobile phone and other card payment system," noting that "the role of the central bank is monitoring and supervision beyond the field to the presence of problematic in banking transactions at the country level and the requisite large size of the precise organization.
 
[Shredd] what's nice about this is as the currency regime changes, the real time adjusting will rely heavily on e-funds
 
[Shredd] this is a good marker that the CBI continues to move forward
 
[tlm724] And gave Keywords "State-owned banks until next September, to adjust their positions within this electronic system," Mstrsla that "the central bank takes the organizational side by issuing controls the use of electronic credit cards and there are plenty of companies that submitted bids for work on the processing of these cards the bank to the fact that the center has divided National, which regulates these processes, and represents an incubator electronic banking operations
 
[tlm724] Shredd just so your caught up Ernst & Young have 125 days of control of the state banks, getting them up to par 
 
[Shredd] tyvm
 
[tlm724] yw
 
[tlm724] "the Bank has developed a court will be launched in early 2017 to regulate such operations plan," and expressed regret that "as a result of the low percentage of beneficiaries and users in Iraq who do not exceed ten percent, and eight percent of these are very limited operations such as receiving only salary, and that only two percent of Iraqis are using smart cards
 
[tlm724] only 10 % of the population is using the electronic system right now but not for long !!
 
[tlm724] that "the trends in will help expand financial inclusion through the entry of more citizens to these systems and thus take advantage of in the possession of people's money supply which amounts to 77 percent outside the system,
 
[tlm724] this is going to bring in trillions of dinars off the streets which is exactly what we want !
 
[tlm724] stability is ongoing as well, all the things needed to make the transition and delete the zero's !
 
[Shredd] my mind goes to the ease of investments too
 
[Shredd] as the credit rating improves, banking laws implemented and ease of transactions, we are seeing big steps being taken these last few years to get Iraq on par with participating in the lending/borrowing investment economic process. Steps forward not steps backwards!
 
[tlm724] quantum leaps !!!
 
[Shredd] and with the deposit law, good stuff
 
~~~~~~~~~~~~~~~~~~~~~

The central bank sets the date of the launch of the electronic currency in Iraq

Ali Abdul Salman 47   08/01/2016   Revealed the governor and agency of the Central Bank, on the Keywords, the identification of next year as the date for the launch of the electronic currency through a dinar or e - card.

http://burathanews.com/storegefiles/579ec4c3da499.jpg
 
Keywords and said, in a press statement on Sunday, said that the launch of the electronic currency would be after the termination of the Central Bank of infrastructure structures necessary for the operation of electronic payment through dinar electronic Oualbtaqat.

He Keywords that this order would facilitate the deal between the state institutions, adding that the country is facing economic challenges and overcome them dependent on an improvement in oil prices as a financier President of Finance for the budget.
 
the oil Ministry has stressed, in a statement on Saturday that oil prices have implications and effects on Iraqi economic reality, and in order to cope with these effects is necessary to build a new Iraqi economy depends on agriculture , and to encourage other industry sectors.        http://burathanews.com/arabic/economic/297534
 
 [tlm724] *wolfwhistle*
 
[tlm724] the Central Bank, on the Keywords, the identification of next year as the date for the launch of the electronic currency through a dinar or e - card
 
[tlm724] that the launch of the electronic currency would be after the termination of the Central Bank of infrastructure structures necessary for the operation of electronic payment through dinar electronic Oualbtaqat.
 
[tlm724] infrastructure structures is getting all the banks and machines ready which we just read about Wink
 
The central bank gives the government banks until September to adapt itself to the electronic systems

 

 

[DinarThug]

 

WooHoo - More Clownie Cliff Notes !

     

 

 

8-1-2016   Newshound Guru tlm724   Loving the news outta Iraq!  Article:  "Iraqi Central Bank revealed on Monday, all give him the government banks until next September, to adapt itself to electronic systems and transactions..."  love a time schedule...The central bank gives the government banks until September to adapt itself to the electronic systems.  ...take advantage of 77 percent of the money supply in the possession of citizens outside the banks, get rid of the cash circulation problems...get those dinars in the bank!  only 10 % of the population is using the electronic system right now but not for long!  this is going to bring in trillions of dinars off the streets which is exactly what we want!  stability is ongoing as well, all the things needed to make the transition and delete the zero's!


8-1-2016   Newshound Guru Shredd  Article:  "Iraqi Central Bank revealed on Monday, all give him the government banks until next September, to adapt itself to electronic systems and transactions..."  [the deposit law is done and has been Gazetted?]  had to be for this move.   as the credit rating improves, banking laws implemented and ease of transactions, we are seeing big steps being taken these last few years to get Iraq on par with participating in the lending/borrowing investment economic process. Steps forward not steps backwards...and with the deposit law, good stuff!


 

[ChuckFinley]

Thanks Thug! I have been following this link closely. You have done a great job of tieing all the information together. 

[Artitech]

maybe a rv coming! JMHO!

[ChuckFinley]

3 minutes ago, Artitech said:

maybe a rv coming! JMHO!

I think the end of December or early January. With all the laws being passed, dead lines being posted by the CBI and GOI I am feeling good about this investment. The IMF and WB have done a good job of putting a blue print in place. Not like in the past, they seem to be meeting dates and making it very clear as to what has to get done.

[calkid11]

Thank you Thugs 

[pokerplayer]

I'm Impressed. This is a great thread with tons of spirit lifting news with regards to our Investment !

While I have been in this Investment along this is all great news ! Thxs. DT.

I may not be as old as dirt, but I was around when god gave us water to wash it off 

pp

[funinsun]

Thanks Thug.  Great thread with hopeful news.  Love to laugh at your posts and headlines.

[rkpdwp]

On ‎7‎/‎30‎/‎2016 at 8:07 PM, SnowGlobe7 said:

Kradle...I have always wanted to visit Puerto RIco.....why in such a hurry to leave?

SG was stationed down there,beautiful place

[Synopsis]

I am with you there if we do not have any significant parliamentary or reforms hiccups like the first half of 2016.  I suspect, soon, we could all wake up to the big surprise we have been waiting for but the Ernest & Young 125 day clock would indicate the end of December or early January would be more likely.

One scenario I've been pondering is the folks that actually control the implementation of the RI and/or RV would have it happen sooner than expected to "short" those down the food chain somewhat who are trying to take advantage of the RI and/or RV with undue advantage but not at the very bottom where the Iraqi citizen or currency speculator is.  No, I am not a dinar pumper, just weighing how this will go down.  The "Ernest & Young 125 days" could be a "implementation" and "monitoring/control" schedule.  So, in my opinion, the RI and/or RV could happen fairly soon.

The latest chat/article above states, "Iraqi Central Bank revealed on Monday, all give him the government banks until next September, to adapt itself to electronic systems and transactions, while among the beneficiaries and users proportion of those dealings in Iraq,"  Well, OK, they may mean by the end of September 2016.  This appears to be a very compressed schedule - with all the banks with electronic systems and transactions a way to eliminate future corruption?  Either all the ducks are lined up and the remaining connectivity/testing needs to be completed or this is an insurmountable achievement.  I suspect the ducks are lined up a little more than I can perceive from the articles and is more likely a reality.  All good news for flipping the RI/RV switch!

Thank You, DinarThug, for all the articles you bring over! 

[Candy01]

2 hours ago, Synopsis said:

I am with you there if we do not have any significant parliamentary or reforms hiccups like the first half of 2016.  I suspect, soon, we could all wake up to the big surprise we have been waiting for but the Ernest & Young 125 day clock would indicate the end of December or early January would be more likely.

One scenario I've been pondering is the folks that actually control the implementation of the RI and/or RV would have it happen sooner than expected to "short" those down the food chain somewhat who are trying to take advantage of the RI and/or RV with undue advantage but not at the very bottom where the Iraqi citizen or currency speculator is.  No, I am not a dinar pumper, just weighing how this will go down.  The "Ernest & Young 125 days" could be a "implementation" and "monitoring/control" schedule.  So, in my opinion, the RI and/or RV could happen fairly soon.

The latest chat/article above states, "Iraqi Central Bank revealed on Monday, all give him the government banks until next September, to adapt itself to electronic systems and transactions, while among the beneficiaries and users proportion of those dealings in Iraq,"  Well, OK, they may mean by the end of September 2016.  This appears to be a very compressed schedule - with all the banks with electronic systems and transactions a way to eliminate future corruption?  Either all the ducks are lined up and the remaining connectivity/testing needs to be completed or this is an insurmountable achievement.  I suspect the ducks are lined up a little more than I can perceive from the articles and is more likely a reality.  All good news for flipping the RI/RV switch!

Thank You, DinarThug, for all the articles you bring over! 

Synopsis,

It is my understanding the 125 business day clock starts AFTER they go international!  Yota, what say YOU?

Thanks!

[climber7]

Good question Candy01

Anyone have an opinion on this question? 

 

Good of day to all! 

[nfire]

Same old same old. When we get closer it will be something about closer to fiscal year, and we get there it will be something about closer to end of year with Soon somewhere in the article. 

[Roadrunner]

On 7/30/2016 at 4:26 PM, four wheel drift said:

Oct 2 2016 begins their 2017 fiscal year.

Hopium

FWD

GO RV

Not really. The Iraqi fiscal year is the same as the calendar year. IRAQ BANKING LAW - Page 31 - Section 6 – Accounts and Financial Statements - Article 40 Financial year: The financial year of domestic banks shall begin on January 1 and end on December 31 of the same year.

[ezrapound]

All I can say is after 10 years of this I'll believe it when I see it in my bank account

[Synopsis]

15 hours ago, Candy01 said:

Synopsis,

It is my understanding the 125 business day clock starts AFTER they go international!  Yota, what say YOU?

Thanks!

Thank You, Candy01.  With all the good news coming out of Iraq lately and being posted here, it is hard to keep all the details straight!

[Candy01]

1 hour ago, ezrapound said:

All I can say is after 10 years of this I'll believe it when I see it in my bank account

A-FRICKING AMEN ezrapound!  I WISH I could have given you MORE than one plus!!!!!!

[four wheel drift]

2 hours ago, Roadrunner said:

Not really. The Iraqi fiscal year is the same as the calendar year. IRAQ BANKING LAW - Page 31 - Section 6 – Accounts and Financial Statements - Article 40 Financial year: The financial year of domestic banks shall begin on January 1 and end on December 31 of the same year.

Thanks Roadrunner, I read it years ago don't remember who or where just trying to hurry this thing down the road. Great investigation RR.

FWD

GO RV

[DinarThug]

On 7/30/2016 at 1:26 PM, four wheel drift said:

Oct 2 2016 begins their 2017 fiscal year.

Hopium

FWD

GO RV

 

3 hours ago, Roadrunner said:

Not really. The Iraqi fiscal year is the same as the calendar year. IRAQ BANKING LAW - Page 31 - Section 6 – Accounts and Financial Statements - Article 40 Financial year: The financial year of domestic banks shall begin on January 1 and end on December 31 of the same year.

 

Great Research RoadRunner !

 

However, Fwiw - The Islamic New Year Is Going To Begin In October !

 

Islamic New Year 2016 begins in the evening of

Saturday, October 1

and ends in the evening of

Sunday, October 2

 

The Clown Pops Open A Bottle Of Bubbly And Gets A Jump On Ringing In 'The New Year'!  

     

 

 

[DinarThug]

2 hours ago, Adam Montana said:

Here's something I almost never do... a DATE! (Sort of.)

Ready?

September MAYBE, October I REALLY like.