FINANCIAL INCLUSION

[10 YEARS LATER]

EVENING GANG - With all this talk about Financial Inclusion I thought it best to bring over World Bank Info on the subject - link below

 

http://www.worldbank.org/en/topic/financialinclusion

[NEPatriotsFan1]

What’s Vietnam got to do with this? 😜 We’re just talking about Iraq here

[10 YEARS LATER]

41 minutes ago, NEPatriotsFan1 said:

What’s Vietnam got to do with this? 😜 We’re just talking about Iraq here

Maybe this will help - 

http://projects.worldbank.org/search?lang=en&searchTerm=&countrycode_exact=IQ

Edited April 25, 2018 by 10 YEARS LATER

[nannab]

2 hours ago, 10 YEARS LATER said:

EVENING GANG - With all this talk about Financial Inclusion I thought it best to bring over World Bank Info on the subject - link below

 

Evening 10 yrs   Great article explaining what Iraq is trying to accomplish. 

[Laid Back]

WORLD BANK: Iraq is making progress in financial inclusion 

The World Bank revealed on Sunday that Iraq has exceeded the financial coverage of the Arab countries by 11%.
The Bank said in a press statement that “Iraq recently worked with the system of financial inclusion in order to continue the financial and banking progress that the world works today, which reached very advanced levels.”
According to the bank, “Iraq accounts for 11% of the financial system, 15.3% in Sudan, 24.2% in the West Bank and Gaza, 24.6% in Jordan and 27.3% in Tunisia

"Iraq has exceeded the financial coverage of the Arab countries by 11%"

 

http://en.economiciraq.com/2018/02/25/world-bank-iraq-is-making-progress-in-financial-inclusion/

 

This is just my opinion

 

We have to remember that 70% of the monetary mass is the chunky money stashed at home.

 

I see the financial inclusion event as a CBI strategy to accomplish the following:

 

- Create confidence in the banking system

- Collect the chunky money to reduce the note count even more

- Make  people to open bank account to turn them into the new e-banking. System ....Credit card, debit card, POS

 

With the final goal of giving real market value to the dinar and introduce the lower denomination notes.

 

Go CBI

Go $1:1

 

 

[Abadiusuck]

They might as well say its within april

[navira45]

I remember there was news where they talked about financial benefits...this carries with it purchasing power, we call this our rv...and this is all going to happen in this financial inclusion. 

[10 YEARS LATER]

15 hours ago, nannab said:

 

Evening 10 yrs   Great article explaining what Iraq is trying to accomplish. 

You are most welcome! I’m on it like Blue Bonnet 😎 What the Frac ? That update caught me off guard. Looks like it tied into the Emojis on my phone 📱 as well. 

[ChuckFinley]

15 hours ago, Laid Back said:

WORLD BANK: Iraq is making progress in financial inclusion 

The World Bank revealed on Sunday that Iraq has exceeded the financial coverage of the Arab countries by 11%.
The Bank said in a press statement that “Iraq recently worked with the system of financial inclusion in order to continue the financial and banking progress that the world works today, which reached very advanced levels.”
According to the bank, “Iraq accounts for 11% of the financial system, 15.3% in Sudan, 24.2% in the West Bank and Gaza, 24.6% in Jordan and 27.3% in Tunisia

"Iraq has exceeded the financial coverage of the Arab countries by 11%"

 

http://en.economiciraq.com/2018/02/25/world-bank-iraq-is-making-progress-in-financial-inclusion/

 

This is just my opinion

 

We have to remember that 70% of the monetary mass is the chunky money stashed at home.

 

I see the financial inclusion event as a CBI strategy to accomplish the following:

 

- Create confidence in the banking system

- Collect the chunky money to reduce the note count even more

- Make  people to open bank account to turn them into the new e-banking. System ....Credit card, debit card, POS

 

With the final goal of giving real market value to the dinar and introduce the lower denomination notes.

 

Go CBI

Go $1:1

 

 

For sure, add the exchange for damaged currency and you can see a lot of things driving this to a e-banking system. I could see them pushing the exchange tied to opening accounts. 

[navira45]

CF, agree

[zul]

Iraqis always prefer to have their money with them rather than bank it.

 

The banks can have the best applications available and accessible to everybody but unless people understand, trust and know how to use it, they will not.

And this is what Financial Inclusion Week is all about ~ to educate, educate and educate to make people understand how it works, feel safe and feel they can trust the financial system.

And of course, the the full backing of their own Central Bank.

 

[Pitcher]

It will take a generation at the least and many more years of bank performance to earn the Iraqi’s trust.  

 

My grandparents had zero bills and paid everything in cash because of what happened in 1929.  My father who is 92 does not own a credit card and has most of his assets in RE.  He doesn’t trust banks and takes great delight in getting into arguments with any banker.

It is terribly embarrassing to be with him when he goes to the bank!

 

I don’t trust them either but I’m all in with all forms modern banking, including my trading account.  

 

My kids don’t even have checking accounts!!

 

Yep, it will take years.

[ChuckFinley]

27 minutes ago, Pitcher said:

It will take a generation at the least and many more years of bank performance to earn the Iraqi’s trust.  

 

My grandparents had zero bills and paid everything in cash because of what happened in 1929.  My father who is 92 does not own a credit card and has most of his assets in RE.  He doesn’t trust banks and takes great delight in getting into arguments with any banker.

It is terribly embarrassing to be with him when he goes to the bank!

 

I don’t trust them either but I’m all in with all forms modern banking, including my trading account.  

 

My kids don’t even have checking accounts!!

 

Yep, it will take years.

For sure, a generation has known nothing but conflict and to trust no one.  

[billjr]

With all the news coming out, I recall many years ago (so I do not have the article) when Iraq increased value in the Dinar it always took place in April and a couple of times in September. Here is to hoping they stick to their old agenda!

[dinarham]

Years ago , the Brookings think tank was hired by the US Gov to do an assessment of Iraq . they stated in their report that Iraqis are smart  resourceful  .,and hard working . It went on the plus side .  Surprise  ,huh ? . 

[navira45]

We are just about done with education capaign...financial inclusion is here. Turn those bad n high notes..open account n exchange them for lower denoms  with incentive,...say, 1 to 1?

[TOMINVEGAS]

Speaking of not trusting banks, how about not trusting the goi or cbi......Even if they go three to one, I will never have anything to do with Iraq or the Middle East ever again. The CBI and GOI strung everyone along for years, making fools out of everyone. I don’t care how much money I make off this, they can’t buy back what they lost long ago. Their arrogance and pompous behavior will never be forgotten. 

[Pitcher]

I hear you TOMINVEGAS.  It’s pretty easy to be pompous and arrogant when you got the USA covering your backside.  For eight years Maliki was funneling cash into Iran and skimming some off the top for themselves.  When I think of the billions of dollars we have wasted on Iraq and the thousands of soldiers who were killed or are maimed, it makes me ill.  Reminds me of Vietnam all over again.  Waste, waste, waste!!!

[zul]

4 hours ago, Pitcher said:

It will take a generation at the least and many more years of bank performance to earn the Iraqi’s trust.  

 

 

All is good actually.

Iraq has started implementing digital payment services and in the very near future their govt. employees dont have to stand in line at the cashier at their workplace to receive salaries or had to wait for hours at the banks especially ahead of long weekends or holidays to get their money or had to go to diff utilities counters to pay their bills. Once people realize these benefits and how it can improve their lives, they will jump on the bandwagon.

 

Of course for us (esp Kaperoni),  this will lead to immediate and more reduction to their money supply (esp money in circulation) and how to this relate to their delete 3 zeros process and recent intructions on currency exchange. 

[Pitcher]

Thanks Zul, no arguement the Iraqi banking system is becoming modern and more convenient for its citizens.  

[NEPatriotsFan1]

I really want to believe they are gonna surprise the Iraqi people and us before the elections. Talk about a slam dunk for Abadi...

 

That would also add to security and stability when he goes to form his govt, I believe there would be way less push back. 

 

The people’s trust would go up in him and the banks.

 

He’s defeated ISIS 

He’s given us the value of our Money back

Let’s let him form his govt quickly so he can begin reconstruction in earnest! 

 

🤞🏻

[Pitcher]

That would be awesome NEPat, but you know how politics works.  The losing side never wants to capitulate and join the winning party to better the situation for the citizens.  Instead the losers will whine, insinuate, lie, diminish, corrupt, block and torpedo anything the winning campaign tries to accomplish.  Mmmm that reads like one of our recent losers campaign.

[NEPatriotsFan1]

3 minutes ago, Pitcher said:

That would be awesome NEPat, but you know how politics works.  The losing side never wants to capitulate and join the winning party to better the situation for the citizens.  Instead the losers will whine, insinuate, lie, diminish, corrupt, block and torpedo anything the winning campaign tries to accomplish.  Mmmm that reads like one of our recent losers campaign.

Yes, unfortunately but a boy can dream? Right? 

 

 Enjoy your day.

 

Always enjoy your input Pitcher

[Pitcher]

Thanks Man, getting ready to start my trading day. Have a good one.