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https://tbi.com.iq/ar/2016-01-21-06-32-34/2016-01-23-18-05-05/priority-pass......

Visa Platinum Card

Visa Platinum Card  VISA PLATINUM

Terms & Conditions:

1.      The validity period shall be two years from the date of issuing the card.

2. The      currency of the card is in Iraqi Dinars and the withdrawal shall be in the currency of any country (outside Iraq).

3. The      cardholder can use the Platinum card through the internet or direct purchase inside and outside the country.

4. The      possibility of withdrawing the amount in cash from the ATMs by (3,500,000) three million five hundred thousand dinars or the equivalent of one day maximum per day, provided that the amount does not exceed the amount of 750,000 seven hundred and fifty thousand dinars.

5.      The Platinum Cardholder is entitled to receive an additional card as desired with the same insurance account as the Cardholder.

6.      To be one of the distinguished clients of the bank or to be identified by one of the distinguished customers.

7.      Guarantees shall be determined by the Iraqi Trade Bank to the customer after considering the request for the value of the credit ceiling and the cardholder is obliged to provide them.

8.      Be an Iraqi nationality exclusively.

9.      The customer is carrying a card attached to the Platinum Card called PRIORITY PASS for the following services:

 

a.         Serving services in most airports around the world using private VIP lounges and accessories.

B.     Medical consultation services during travel and transfer the cardholder to doctors and hospitals.

C.      Many diverse and renewable services around the world.

 

 

 

 

Fees and commissions .....

1. The      price of issuing Visa Platinum card (120,000) one hundred and twenty thousand Iraqi Dinars + (25,000) JD SMS service (for those wishing only).

2. The      amount of the insurance (which is 110% of the value of the credit limit granted on the card) is not subject to withdrawal until 30 days have elapsed from the date of closing the card.

3.      The amount of (25000) twenty five thousand dinars for the service of receiving text messages ( SMS ) annually from the customer's balance.

 

4.      There is no commission on direct shopping as well as online shopping.

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did not know IQD was traded out side Iraq, or it was accepted for payment, 3,500,000 is a lot of bills being put out on the streets. makes me go HUMMMMMMMMMMMMMM, either it will change to 3,500, with 750 per trans  by removing the 3 0s,,,or NO R V  ,could be I'v had 10 to many :drunk: 

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14 minutes ago, tigergorzow said:

blueskyline,  Excellent article....😊

 

Synopsis,  Truly appreciate.....Excellent breakdown and yes I totally agree with your assessment.  Something is definitely afoot IMHO.

 

GO RV / RI

 

Always Keeping The Faith!!

 

Oh, Yeah, TigerGorZow - lots of other collaborating Good News, too! :twothumbs:

 

12 minutes ago, blueskyline said:

Thanks for the kind words Synopsis. GM DV's .....Onward ....:pirateship:

 

Anytime, BlueSkyLine, and Thank You for the kinds words, too! :tiphat:

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I've wondered what the average Iraqi's money (current dinar) would be worth outside of their country post RV.  I know that "in country" for them, the prices of all goods/services would be adjusted to the new value, so it would essentially be an ell-oh-pea.  

 

But would they enjoy the same increase in their money if they spent it OUTSIDE of Iraq?  If so, imports would immediately be totally nuts - BUT....

 

If they had to do it ELECTRONICALLY, through ACH or a CREDIT CARD, the conversion would be done automatically, and no "advantage" given.  If they were to travel to say, Britain, they WOULD be able to exchange for Euros or Pounds at a fantastic rate.

 

Sound right?

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As it stands, their currency would buy bupkiss using these cards. There has to be an RV in the near future or there's no point to these credit cards being issued--they won't cover enough for a night in a hotel, let alone food, souvenirs, or all the other things that go hand-in-glove with international travel. I can't even imagine how prohibitive it would be to use them with the added interest as it currently stands.

 

There has to be change in the wind. It could be they are just trying to get them into the hands of the public first (this shouldn't be what is meant by "spending power," as credit card debt is a slippery slope, but it could be that's what it's being considered to be giving the people). Maybe they are trying to give the people more ways to spend and then deal with the details of RV later, but it does appear to be a bit backwards. It's possible this is intended as a way to give the people of Iraq a chance to purchase international goods (yay, internet, all hail our great Amazon overlords) to increase trade outside their borders, but again, it won't mean much if there is no value to provide spending power behind their currency.

 

I could speculate on this all day, but I'll take it as a sign that everything is falling into place for the Iraqis to go international and that RV is just around the corner. 

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35 minutes ago, Miamiheatnic said:

I definitely take this this as a great and positive sign of good things to come!  Thanks for the breakdown Synopsis.  

 

1 minute ago, 1lucdog said:

Great Synopsis Synopsis! Indeed it is great news for a Monday or any day!

 

The Best Of Your Monday To You, MiamiHeatNic and 1LucDog! :tiphat:

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Thanks Blueskyline and Synopsis this is great news no matter what day ! :twothumbs: One more step closer.

 

9 minutes ago, magawatt said:

Thanks Synopsis for the explaination.

Some bright sunshine on a very dreary day.

 

 Agreed megawatt it is cloudy and yukky here too.  Islands here we come shortly ? I refuse to use that other

four letter word s--n. Have a great night all. 

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blueskyline- thank you very much for posting this article - it's quite revealing in many ways. Iraq is going to show their cards one way of the other very shortly. Even no move at this point by them is an example of the latter. However, I suspect that all the individual's who've been committed to the IQD as sole investors and all of the country's that have 'donated' upwards of $100 Mm each to help Iraq recover post-Dash aren't going to have to wait longer. Too many positive events have already taken place and led up to 'this Monday' - which is fine with me.

 

Synopsis -  Thank you for your analytical breakdown of the numbers, and for taking the time  to share your interpretation- I look forward to watching things unfold nicely! 

 

 

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3 hours ago, magawatt said:

Thanks Synopsis for the explaination.

 

3 hours ago, nannab said:

Thanks Blueskyline and Synopsis this is great news no matter what day ! :twothumbs: One more step closer.

 

4 hours ago, ChuckFinley said:

Just catching up here. Great job Synopsis and Blueskyline. You are right RJ should be more action here ref. this. :twothumbs:

 

2 hours ago, presence said:

Synopsis -  Thank you for your analytical breakdown of the numbers, and for taking the time  to share your interpretation- I look forward to watching things unfold nicely! 

 

The Best Of Your Week To You All - This Week Is Looking Good For All Kinds Of Good News! :twothumbs:

 

Go Moola Nova!

:pirateship:

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"The reason for bringing this up is, why would an Iraqi citizen use their VISA card abroad if IQD is not internationally exchanged? The spread would make it prohibitive to use the VISA card outside Iraq at ATMs and other Point Of Sale (POS) locations. To make this work, the international Multi Currency Practices (MCPs) would have to be eliminated and mean the IQD could be traded internationally and instaneously electronically with minimal exchange rates (say 2% instead of 17.2% or 16.5%). So, I take this to be another positive sign the IQD is going international in the short to near term."

 

Exactly Synopsis!   Great post...this thing has to hit SOON!  


Dr J

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27 minutes ago, drj said:

"The reason for bringing this up is, why would an Iraqi citizen use their VISA card abroad if IQD is not internationally exchanged? The spread would make it prohibitive to use the VISA card outside Iraq at ATMs and other Point Of Sale (POS) locations. To make this work, the international Multi Currency Practices (MCPs) would have to be eliminated and mean the IQD could be traded internationally and instaneously electronically with minimal exchange rates (say 2% instead of 17.2% or 16.5%). So, I take this to be another positive sign the IQD is going international in the short to near term."

 

Exactly Synopsis!   Great post...this thing has to hit SOON!  


Dr J

 

This portion of one press release of the latest IMF review:

 

IMF Executive Board Completes Second Review of Iraq’s Stand-By Arrangement and the 2017 Article IV Consultation 

August 1, 2017
 
"...Measures to bolster financial sector stability include strengthening the legal framework of the Central Bank of Iraq, restructuring state-owned banks, and eliminating an exchange restriction and a multi-currency practice. Measures to prevent money-laundering, counter the financing of terrorism, and strengthen the anti-corruption legislation also need to be implemented...."
 
Edited by Carrello
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4 hours ago, Carrello said:
"...Measures to bolster financial sector stability include strengthening the legal framework of the Central Bank of Iraq, restructuring state-owned banks, and eliminating an exchange restriction and a multi-currency practice. Measures to prevent money-laundering, counter the financing of terrorism, and strengthen the anti-corruption legislation also need to be implemented...."
 

Thanks Carrello!  Lookin good....eliminating an exchange restriction and multi-currency practice. 

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