BondLady: A (Smart) Card Thats The Same As Their Money Has To Be Tradeable!

[DinarThug]

CNN. Broadcasting While Wondering That If Vegetable Oil Comes From Vegetables , And If Olive Oil Comes From Olives, Then Where Does Baby Oil Come From - The Stork ?

 

 

 

[bondLady] Good afternoon everyone, did you see the 100 dinar note article this morning ? I loved that aticle and another article that didn't receive the attention it should have also kind of goes with it too. If you want to be spoon fed or want the Readers Digest version, or want some bs intel or a rumor do yourself a favor now and just X out. We are a learning site, and we study all things that surround this speculative investment.

[bondLady] ok let me start with my favorite one

[bondLady] Iraq keeping banknotes unchanged throughout 2013 By Ali Sahttab Azzaman, April 27, 2013 Iraq’s Central Bank will not remove three zeros from its currency, the dinar, a move it had said it wanted to implement in 2013.

The bank had drawn up plans to start replacing current banknotes with new ones, deleting three zeros and reducing the volume of dinars in circulation with each four billion dinars substituted by one billion dinars.

“The Central Bank has announced that it has no intention to restructure the currency by removing three zeros from its value this year,” said Abdulhusain al-Yaseri, a deputy who sits on the parliament’s Finance Commission. Currently one U.S. dollar is worth more than 1250 dinars and Yaseri said Iraqis needed to carry large sums of currency even for household shopping as payment by credit card is rare in Iraq.
...
 

 

  Issuing new denominations with deleted zeros will simplify payment and accelerate trade exchanges, he said. However, Yaseri did not say when the Central Bank will start issuing new currency.

 He said the massive sum of banknotes in circulation raised the possibility of faked banknotes and has been cited as one reason for the latest slump in the dinar’s value from around 1120 to more than 1250 vis-à-vis the U.S. dollar.

However, he said the bank had in place a plan to remove three zeros from the dinar, and issue a 100 dinar note that will be equivalent to $100. He said it was in Iraq’s interest to print new currency with lower denomination, the thing that “will make easier to detect forgeries.”

Exchanging currency by increasing its value or printing new notes are costly to the economy, though the Central Bank has not said how much the whole operation will cost if carried out. There are also fears of corruption as the banks starting exchanging their Iraqi dinar reserves

[bondLady] Iraq keeping banknotes unchanged throughout 2013 By Ali Sahttab Azzaman, April 27, 2013 Iraq’s Central Bank will not remove three zeros from its currency, the dinar, a move it had said it wanted to implement in 2013.

The bank had drawn up plans to start replacing current banknotes with new ones, deleting three zeros and reducing the volume of dinars in circulation with each four billion dinars substituted by one billion dinars.

 “The Central Bank has announced that it has no intention to restructure the currency by removing three zeros from its value this year,” said Abdulhusain al-Yaseri, a deputy who sits on the parliament’s Finance Commission. Currently one U.S. dollar is worth more than 1250 dinars and Yaseri said Iraqis needed to carry large sums of currency even for household shopping as payment by credit card is rare in Iraq.

Issuing new denominations with deleted zeros will simplify payment and accelerate trade exchanges, he said. However, Yaseri did not say when the Central Bank will start issuing new currency.

He said the massive sum of banknotes in circulation raised the possibility of faked banknotes and has been cited as one reason for the latest slump in the dinar’s value from around 1120 to more than 1250 vis-à-vis the U.S. dollar.

However, he said the bank had in place a plan to remove three zeros from the dinar, and issue a 100 dinar note that will be equivalent to $100. He said it was in Iraq’s interest to print new currency with lower denomination, the thing that “will make easier to detect forgeries.”

 Exchanging currency by increasing its value or printing new notes are costly to the economy, though the Central Bank has not said how much the whole operation will cost if carried out. There are also fears of corruption as the banks starting exchanging their Iraqi dinar reserves

http://www.azzaman.com/english/?p=728

[bondLady] the number one thing in this kurd article is this statement right here, its not the statement next year and not this year...I think that might be bs but again no one knows and will not know until they do it but is this statement right here>>>>>>> he said the bank had in place a plan to remove three zeros from the dinar, and issue a 100 dinar note that will be equivalent to $100.

Thats the best thing right there, through the years they have said different things like release a 50,000 or 100,000 note... to help with inner banking and large purchases etc...because Iraq has done everything to make their people fall in love with our money, the usd, they have to do everything they can now to simulate our money and make the iraqi's fall in love with their own money now, the IQD

[bondLady] so by them showing they ALREADY had a plan and to release a 100 dinar note that would be equal to 100 usd thats the 1-1 we've talked about for well over 2 years here at BLC.

The bank said this once done would stay for 2 years and remember when dealing with iraq everything seems to go in 2 yr 2 yr 2 yr , approx. 2 year implimentation...they say something 2 years later or close to it ...it happens hence soon and the coming days crap they say.

So in order to get the Iraqis to use iqd and not usd they need to make their currency really close in not only denominations but rates as well...to ours making it basically a 1-1 IMO. That I feel like is the very best we could hope for at this point in this Iraqi game.

[bondLady] If they had a full infrastructure and a total booming economy, private sector, banking...if everything was up and running 100% then I'd say yes a $2.00 or higher could easily happen but until they have a huge chunk of infrastructure completed , electricity, industries, agriculture , water all these things are of great importance to iraqs economy and their exchange rate.

Okay so a great beginning is to bring the new money WITH a 100.00 dinar note thats why that article to me is outstanding !

[bondLady] now the next thing is this article

Smart Card .. The use of objective technical cancel the deal banknotes 04/28/2013 12:00 AM Baghdad Worley confident in the nineties of the last century, suffered the banking sector in Iraq retardation technology and move away from systems dealings electronic banking, was the government banks dealing ways primitive in the disbursement of pensions through the identity of the paper allowed some weak people to use them to receive pension in more than one port or by impersonating a retired forging his signature profile,

after the fall of the dictatorial regime used the card the "order card" for the disbursement of pensions and the system of social protection network, which relies mainly on fingerprints and PIN particular, led to the erosion of cases of fraud and manipulation rights material to the citizens.

reorganization Sabria Ibrahim retired said: I suffer from Multi imprint my fingers when you go to collect my pension, because it is not shown to easily, and overcame the problem by relying on my grandson to receive my salary instead Me through the agency of legal,

but in the current year did not appear footprint in (the month of life) allocated by the banks to make sure that the death of the retired, what compelled me to go for the completion of the treatment to return to the identity of old.

[bondLady] Haji Abdul Rahman Jassim pointed to positive smart card, they offer a guarantee greater than the identities old that was occurring where mistakes frequent and exploited by some of the staff, who are demanding Bakramyat compared to exchange salary,

as the pay deduction by exchange offices civil, became stable and provide good services to facilitate the disbursement of pensions.

Fatima Salem (60) years showed that the suffering is renewed every two months upon receipt of her salary pension, and the last time was forced to review the two banks, as it did not show imprint finger in the device, which necessitated that the drop in the circle key in the door bulks for obtaining the approval of re-mobilization of its own information.

twinning director of relations and the media in the company's global smart card Alaa Abdel Hadi, said the company has worked on modernization program smart card currently operating twinning with regulations and international banking services such as deposits,

remittances and withdrawal amounts and shopping and paying bills for telephones and electricity, as well as installment sales and shopping by ATMs, adding that the next few months will activate the roaming service for the smart card to be used outside the country , as well as new mobile and internet.

added able card holder Ironing card from the second generation to withdraw his salary in full or partial immediately after the process paid a few minutes, and the possibility of any retired issuing smart card again to his agent while retaining the inherent Bbtagueth.

 referring to the near activating the PIN number of the card and the adoption of iris in the release "to facilitate dealing with retired faded imprint of his thumb, pointing out that the bank will inform dealers with any movement of banking conducted via text messages or by amyl, noting that the company, in the near future will enter the stage of the third generation, which includes other services more sophisticated.

abolition of cash handling and explained Abdul Hadi said one of the objectives of the company in the medium term is to eliminate the handle banknotes, as can the citizen to withdraw funds its own from anywhere, especially after she became (Ki Card) and agent (MasterCard) world,

it which will enable beneficiaries of the issuing card Master at any time and without trouble. stressing that handle the smart card will be via the Rafidain and Rasheed through the new program will include dealing with all citizens, not of the categories of beneficiaries of it earlier,

explaining that the plan this year include granting licenses to Malls and markets allows the possibility of shopping by using the smart card by iris instead of fingerprint that work is underway on the completion of their use within a short period.

negatives and positives dreams owner employee at the Rasheed Bank said: faced with the difficulty of dealing with the auditors of the elderly not appear to have fingerprints on the device your smart card, which obliges us to re-try more than once and using more than one finger for retired to show the footprint, and in most cases are relying on the agent retired,

except Alshahralaol and the second of each year dedicated to make sure that retired alive, and we call this month, the month of life, as must attend Aseel signature on the health of receiving salaries.

said the owner that handle identity old retiree is still in effect, but in cases of travel retired out of the country or for retirees with skin diseases, Kalokzma and fungal skin psoriasis and others,

after he is adopting a medical report by a hospital competent confirms hit by a dermatologist. disappearance footprint doctor Ahmed Mohamed explained that the reasons for the erosion of fingerprint for the elderly back to the lack of pores and to equal domestic lines of the fingers with original leather is difficult to determine the fingerprint clearly, which led Find other technologies more sophisticated as in the iris used by many European countries. http://www.alsabaah.iq/default.aspx

[bondLady] See they talk about the thumb print and how old peoples finger print through the years basically fade out so they will use a iris scanner which everyone is different like finger prints and iraqi's will adapt to that.

And we know they already have this set like this in many places when they do 100% activate all sectors of the smart aka key card and they in the past also had problems with sand screwing up the finger print part of the card which they said they had that error fixed as well.

[bondLady] Now the big parts of this article is this.. where they talk about if you have to go out of the country for medical reasons as they say here or whatever reasons you would use it as a master meaning a master card , visa whatever. Now for them to be able to use that like that it would have to be internationally accepted now wouldn"t it?

[tlm724] you bet

[DogzNova] yes

[bondLady] it is still an Iraq card but to do that and thats the same as their money it has to be internationally tradeable and accepted. Just like when timmys WTO research when the WTO asked iraq how would you pay for your purchases, what would you use ? They said dinar

[tlm724] indeed they did

[bondLady] and how could they use dinar? If it wasn't internationally accepted or tradable? Do you all get my meanings here per both?

[DogzNova] yep

[tlm724] yes ma'am !

[bondLady] international tradeable currency anyway you look at it ! So both those articles were huge to me today and I have a couple more as well if you all want to see them or have time?

Finance Committee: financial abundance ratio features appear after the sixth month 04/28/2013 BAGHDAD / JD / .. Finance Committee confirmed that the abundance ratio in the budget features will appear after the sixth month of this year, noting that the citizen did not touch the improvement due to the accumulation of projects.

She is a member of the Finance Committee Najiba Najib / JD /: that which approved the budget has not changed anything so far, most of the appointments have gone to the contractors with the state ministries.

 She added: Despite the improved investment expenditure by 40%, the average citizen did not touch the budget in a positive reversal, and because of the large number of ongoing projects accumulated. She noted the abundance ratio in the financial budget features will appear after the sixth month of the current year, unexpected improvement in the salaries of social welfare network.

The Ministry of Planning has revealed the formation of a committee of three sets controls and mechanisms for the distribution of the 25% of financial abundance of oil revenues to citizens.

He said ministry spokesman Abdul Zھrh Hindawi told a news briefing earlier: that a tripartite committee comprising the Ministry of Planning and the Ministry of Finance and a representative of the Commission Parliamentary Finance was formed to set controls and mechanisms for the distribution of 25% of the abundance of Finance of oil revenues to the citizens.

" The current year's budget included a paragraph relating to the distribution of 25% of the financial abundance of oil revenues directly to citizens.

And the distribution of the amount of material on the citizens of oil revenues after agreeing to a demand made by the Sadrist bloc in the House of Representatives during discussions approving the federal budget for the current year.

According to the Finance Committee in the Iraqi parliament that the abundance of financial oil revenues will be calculated, beginning next July, which will be allocated 25% distributed to citizens and the proportion of other Tzھb to support the fund to support the poor and the widows and the grant was estimated at 600 thousand dinars for retirees who are paid less than 400 thousand dinars.

 / Finished / Haidar Ghalib http://www.dananernews.com/News_Details.php?ID=3236

[bondLady] unexpected improvement in the salaries of social welfare network **** The Ministry of Planning has revealed the formation of a committee of three sets controls and mechanisms for the distribution of the 25% of financial abundance of oil revenues to citizens.

**** Finance was formed to set controls and mechanisms for the distribution of 25% of the abundance of Finance of oil revenues to the citizens. **** "

The current year's budget included a paragraph relating to the distribution of 25% of the financial abundance of oil revenues directly to citizens to support the fund to support the poor and the widows and the grant was estimated at 600 thousand dinars for retirees who are paid less than 400 thousand dinars.

[bondLady] so I know we hear the gurus spouting off any minute, any day... and always on Fridays and on Monday "don't know what happened". But I'm just saying that no one and I mean NO one knows that kind of thing !

And when you see them say those things like they do or they have that kind of high up intel don't believe them, run away run away their lying to you ! Especially no one will know on some dinar forum, their either flat out lying to you or their being lied to as well and they believe it themselves.

No one will know the date or the rate, we can try to piece together this puzzle and try to make sense and make the pieces all fit but until the CBI actually makes their move NO one will know !

[bondLady] so this says... unexpected...improvements will happen after the 6th month. Scooter told us when he talked about the rasheed and the rafidian banks being restructured they like to do banking stuff per them in June...

unexpected improvements after the 6th month.June is the 6th month and the smart card also says stuff that talks about the 6th month as well. I'm not saying RV in June , please don't misquote me or take what I'm saying out of context,

NO ONE KNOWS when or how much NO ONE . I'm just saying thats 3 things that talk about June or shortly after

[bondLady] let me grab the next one

Increase the salaries of social welfare 04/28/2013 12:00 AM BAGHDAD - Farah pumice revealed Committee Labour and Social Affairs parliamentary orientation to increase salaries disbursed for social welfare. Committee Vice Chairman Saleh al-Asadi said the "Center Brief for the Iraqi Media Network,"

the inclusion of a draft law amending the Social Welfare Act on the agenda of future meetings after the completion of reading and discussion within the his committee.

and explained that he has been granted authority to the minister concerned to keep women in the role of adults after the age of 23 years up to get a business opportunity or chance marriage to keep them from dangerous society.

said Asadi that the deduction of the amount of the salaries given to the beneficiaries in nursing homes to deposit in their account during the period of their stay in the house are added by the profits and benefits, and when he came out (beneficiary) to the community of the house he can withdraw the amount from the bank and thus can subsidy itself.,

 and added that the committee stipulated that if the amount saved in the bank to the beneficiary less than the amount of loans income-generating granted by the Ministry work for the unemployed is up equated to the amount of the loan and give it to the beneficiary.

source also revealed in the Commission who asked not to be named for "Center Brief for the Iraqi Media Network," orientation to increase the salaries of social welfare during the next term in support of the beneficiary segments. http://www.alsabaah.iq/ArticleShow.aspx?ID=45529

[bondLady] just putting this article in here... in the next term...

[bondLady] brb with the article I'm looking for

[bondLady] Today .. The launch of agricultural loans 04/28/2013 12:00 AM Shukri: Iraq's population of 35 million inhabitants BAGHDAD - morning launch of the Ministry of Finance on Sunday, agricultural loans to farmers and farmers. According to a ministry statement received "morning," a copy of it, "The launch of agricultural loans to farmers and farmers will be in the branches of the Agricultural Bank in all provinces as of this week."

the statement noted that "the Minister of Planning and Minister of Finance Agency Ali Shukri instructed to Agricultural Bank to allocate 10 billion dinars to lend breeder buffalo in the marshes of Dhi Qar and Maysan. "

and instructed Shukri development banks, agricultural mobile in rural areas to provide banking services. On the other hand, said Planning Minister Ali Shukri: "The number of Iraq's population doubled by 3 percent," noting that "the number of Iraqis currently stands at 34 million and 800 thousand people. "

and explained that "the outlook suggests that next July will be the number of Iraqis 35 million people," adding that "the proportion of young people among Iraqis amounted to 63 percent." It is said that the Ministry of Planning launched last March an initiative to persuade the masses political support to hold the census. http://www.alsabaah.iq/ArticleShow.aspx?ID=45530

[bondLady] main thing about this one that caught my eye and we did talk a little about it yesterday. About Iraq's population is their saying now its up to 35 millon people and their introducing loans to them, agriculture loans. And they say this is the time for them to do a census as its been years since they had one and they do need a new one.

They will need to have one before they release the 25% to the people or some people aren't going to get their share of the oil wealth. So if the kurds want to hold the census up to try to gain more money like they had been doing then someone will lose.

IMO the census will straighten out alot of the problems that have to do with budgets and disbursments of budget monies or the country wealth.

 Everyone always wants more than the other has, a census much needed in kurdistan would probably show they should get less hence the reason why they have fought it for years.

[bondLady] here's the last article

Moves to development and the reality of telecommunications and Internet services 04/28/2013 12:00 AM Baghdad Isra al-Samarrai and the Ministry of Communications revealed its intention to implement the project (FLAG) on the development of the reality of telecommunications and Internet services in all provinces. Uday said Qasim Alwan, a spokesman for the Office of the Minister of Communications (Center Brief for the Iraqi Media Network) that the ministry is on the verge of completion of a new future projects rise by telecommunications and Internet services in all provinces, notably Project (FLAG). He Alwan that the Minister of Communications and Agency Dr. طورهان Mufti met recently with representatives of one of the private companies operating telecommunications services and the Internet Ltd. that was completed several mega projects of the ministry, which was largest of linking Iraq world countries through the optical cable across the seas and connecting airports and circles passports with Iraqi counterparts In a number of countries.

He stressed that the ministry is determined in coordination with the company to complete the project (cable maritime FLAG) on improving the future reality of communications and the Internet in all the provinces http://www.alsabaah.iq/ArticleShow.aspx?ID=45518

[bondLady] Mufti met recently with representatives of one of the private companies operating telecommunications services and the Internet Ltd. that was completed several mega projects of the ministry, which was largest of linking Iraq world countries

 ********which was largest of linking Iraq world countries ********** through the optical cable across the seas and connecting airports and circles passports with Iraqi counterparts In a number of countries.

He stressed that the ministry is determined in coordination with the company to complete the project (cable maritime FLAG) on improving the future reality of communications and the Internet in all the provinces.

[bondLady] The International world is knocking on Iraq's door...open the dayum thing already will ya's ! Thats about it . I hope you all enjoyed this chat and I hope I have been correct in my opinons as well... we are a learning site, I hope you all learned something today here at BondLady's Corner

[tlm724] BondLady thank you so much Bravo !!

[DogzNova] thank you BondLady

[gaffi347] BondLady thank you !

[sedona] BondLady ty

[COSMO] BondLady ...Thank you so much Milady

[bondLady] You are all quite welcome and thank you !

 

[R2d2dc]

Thanks Thug! I'm always happy to read Bondlady's posts. She always brings great articles and conversation surrounding them. Loved it!

Thanks again Thug,

r2

[SamDinar]

Thanks Thug, the only problem with all this is that all the statements are not from the CBI, but from the Finance Ministry and they have no control over the CBI no matter what they say or think!

[sandyf]

Too much emphasis on cards.

 

There are already 97 Mastercard ATM's in Baghdad and 20 in Basrah.

[Gooserider67]

OMG....eyes are burning... need the cliff notes version....

[momom]

[bondLady] The International world is knocking on Iraq's door...open the dayum thing already will ya's !

What a great quote and how true ! Maybe you should take the time to read this one, just sayin

[Kaduku]

I really don't mind the good news that comes from Bond Lady, but please HIT the main topic ONLY i.e. it's going to RV or it's on hold etc... or cancelled until next Thursday, Saturday, Monday. Just saying!

[sandstorm]

Wrong bondlady. the qi card purchase amount.....is purchased in the purchasing countries currency...and at the exchange rate for that day. the qi card is internationally accepted.....not the dinar.

Just like if an american goes to europe and uses their credit card over their. the purchase will be in euros atthe days exchange rate. not usd.

then at the end of the month....all will be converted and you will see you statement balance in usd. common sense

Qi card and dinar....theres is no relationship. two seperate forms of payment

[sandstorm]

So if an iraqi uses their qi card out of country........they will be paying in the other countries currrencyand rate at the time of purchase

If the dinar was going to be or is internationally accepted....then they wouldnt need a qi card in the first place

[stealthwarrior]

• When do these cards go into effect?

[zigmeister]

 

• When do these cards go into effect?

 

They say in July.

[zigmeister]

So if an iraqi uses their qi card out of country........they will be paying in the other countries currrencyand rate at the time of purchase

If the dinar was going to be or is internationally accepted....then they wouldnt need a qi card in the first place

If the dinar was internationally accepted and it was at the same rate it is now they would have to pack extra bags to stash their dinar.  Doesn't make much sense for traveling. Perhaps the dinar does not have to be internationally accepted currency, but I believe they are going down that road.  They have nixed the new currency plan and dropping of zero's.  This currency is their base for now.  So while you make some valid points, your skepticism overshadows the very possible outcome of the dinar becoming internationally accepted.  Besides which if they were internationally accepted they still have to pay the rate of the other countries at the end of the day.  Not withstanding many times Iraq has stated the dinar will be internationally accepted.  The statement the cards can be used outside of country as well as inside may indeed be the clue to where they are headed.  I suspect they are moving to the cashless society, keep that in mind as well.  Right now what they are not doing is significant, they are not re dominating and issuing new currency.  For me this is a good thing.

 

Again this does not mean they have to RV their currency, they don't, but the possibility is there.  Try not to be so negative 

[sandstorm]

If the dinar was internationally accepted and it was at the same rate it is now they would have to pack extra bags to stash their dinar.  Doesn't make much sense for traveling. Perhaps the dinar does not have to be internationally accepted currency, but I believe they are going down that road.  They have nixed the new currency plan and dropping of zero's.  This currency is their base for now.  So while you make some valid points, your skepticism overshadows the very possible outcome of the dinar becoming internationally accepted.  Besides which if they were internationally accepted they still have to pay the rate of the other countries at the end of the day.  Not withstanding many times Iraq has stated the dinar will be internationally accepted.  The statement the cards can be used outside of country as well as inside may indeed be the clue to where they are headed.  I suspect they are moving to the cashless society, keep that in mind as well.  Right now what they are not doing is significant, they are not re dominating and issuing new currency.  For me this is a good thing.

 

Again this does not mean they have to RV their currency, they don't, but the possibility is there.  Try not to be so negative

My apologizes for lack of positivity. people are drawing surface opinions about qi cards....and qi cards, smart cards, and credit cards dont work that way. how does a qi card reduce m2? It doesnt.

a qi card is internationally excepted.......it doesnt matter what currency its loaded with. it will always be converted.

if you go to europe and use your credit card.......when you get home will you have a bill in usd and a bill in euro? Nope

Google any smart card or any similar international accepted card. they explain how it works

Whether electronic or physical dinar.....a dinar is a dinar. just the same as depositing a million iqd cash in your account.....then use an electronic debit card for a million dollar purchase. it all adds and subtracts from your account regardless its state.

What great effect does qi cards have on speculators of the dinar? For an iraqi....it means...not carrying all that cash....it means having payment for all potential purposes. for the cbi.......it helps them collect up a currency they plan on replacing. with less cash in public counterfeiting and laundering becomes more difficult. a qi card is helpful to iraq....but doesnt change how much dinar is in m2 by one iota

[zigmeister]

My apologizes for lack of positivity. people are drawing surface opinions about qi cards....and qi cards, smart cards, and credit cards dont work that way. how does a qi card reduce m2? It doesnt.

a qi card is internationally excepted.......it doesnt matter what currency its loaded with. it will always be converted.

if you go to europe and use your credit card.......when you get home will you have a bill in usd and a bill in euro? Nope

Google any smart card or any similar international accepted card. they explain how it works

Whether electronic or physical dinar.....a dinar is a dinar. just the same as depositing a million iqd cash in your account.....then use an electronic debit card for a million dollar purchase. it all adds and subtracts from your account regardless its state.

What great effect does qi cards have on speculators of the dinar? For an iraqi....it means...not carrying all that cash....it means having payment for all potential purposes. for the cbi.......it helps them collect up a currency they plan on replacing. with less cash in public counterfeiting and laundering becomes more difficult. a qi card is helpful to iraq....but doesnt change how much dinar is in m2 by one iota

Just curious Sandstorm, what in your opinion would stop them from becoming internationally recognized?  Now they don't have to RV the dinar if they were to take this step, not at all.  

[sandstorm]

Just curious Sandstorm, what in your opinion would stop them from becoming internationally recognized?  Now they don't have to RV the dinar if they were to take this step, not at all.

mostly themselves. political stability along with monetary stability. will create outside demand. but always talking about replacing your currency isnt helping to create international desire for the current iqd. removing remaining ch7 will bode well for potential investors and get money rolling in country. really.....thats all i see holding it back.

Demand for the iqd must start in country. if your own citizens dont want your money....nobody else will either

[zigmeister]

mostly themselves. political stability along with monetary stability. will create outside demand. but always talking about replacing your currency isnt helping to create international desire for the current iqd. removing remaining ch7 will bode well for potential investors and get money rolling in country. really.....thats all i see holding it back.

Demand for the iqd must start in country. if your own citizens dont want your money....nobody else will either

Sandstorm they are not replacing their currency right now.  This is pretty well documented by the CBI.  So with that in mind what is their next step?  It seems they are moving into a cashless society, and they have quite a few tid bits to dangle in front of the Iraqi people.  Home loans via the new KI card, agriculture loans, which I do not know if they will be via the cards as well.  

 

One of their many reasons for going for a redomination was the people would not have to wheel around dinar in their wheel barrows.  These little cards do the same thing.

 

While you are correct they don't have to go international I suppose, I am not sure of that, they do have a motivation to bring the dinar into the international realm.  There is no guarantee they won't, but I happen to believe they will.

[rockfl9]

to become an international currency the dinar must satisfy BIS (Bureau of International Settlements) requirements ... For SOME reason it does not or will not do that! The BIS is there to assure that legitimate claims will be honored by the country. I have asked myself this ..What claims would Iraq deny?? If some national bank would present a claim to convert 100M dinar to ? and they refuse their credit rating would be ZILCH. Are they playing that game???

[sandyf]

My apologizes for lack of positivity. people are drawing surface opinions about qi cards....and qi cards, smart cards, and credit cards dont work that way. how does a qi card reduce m2? It doesnt.

a qi card is internationally excepted.......it doesnt matter what currency its loaded with. it will always be converted.

if you go to europe and use your credit card.......when you get home will you have a bill in usd and a bill in euro? Nope

Google any smart card or any similar international accepted card. they explain how it works

Whether electronic or physical dinar.....a dinar is a dinar. just the same as depositing a million iqd cash in your account.....then use an electronic debit card for a million dollar purchase. it all adds and subtracts from your account regardless its state.

What great effect does qi cards have on speculators of the dinar? For an iraqi....it means...not carrying all that cash....it means having payment for all potential purposes. for the cbi.......it helps them collect up a currency they plan on replacing. with less cash in public counterfeiting and laundering becomes more difficult. a qi card is helpful to iraq....but doesnt change how much dinar is in m2 by one iota

 

The statement will show the transaction amount in the base currency. It will also show the amount in local currency and the exchange rate used for conversion.

 

The rate is irrelevant in terms of travelling, normal people do not carry wads of their own currency when travelling, Certain amount of cash for the country of destination, or a major currency, travellers cheques and cards are the norm.