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11% of Iraqis have bank accounts and 300 ATMs across the country


yota691
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Just now, Botzwana said:

Just a little more excitement....10,000 dinars for that car?  That is only $8.43 in American dollars.  Have they gone 1 to 1 in country?

15326366_1303616986346281_391617012316299009_n.jpg

Teaser, Teaser!   :o

I suspect we will find out soon enough - Thank You for posting Botzwana!

:twothumbs:          :backflip:

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11 minutes ago, mylilpony said:

I remember way back when they told us that the currency that we hold right now would not fit into an atm machine. It was too big..;)

That is a good point, MyLilPony!

The 50,000 IQD note is nominally 2mm longer than the US $100 bill and imperceptibly narrower (less tall/wide). I have a pic posted in the gallery of a 50,000 IQD note and a $100 bill. The 25,000 IQD notes are significantly longer and wider than the 50,000 IQD notes. I am not sure if the new IQD denominations are all the same dimensions like the USD denominations. The ATMs I use dispense only the $20 bills. There may be other ATMs that dispense other USD denominations in the US. The Iraqi ATMs may also be dispensing a single IQD denomination. If they are dispensing a single denomination then the 25,000 IQD note is roughly comparable to the $20 bill in value but not in size.

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12-5-2016   Newshound Guru Kaperoni   Article:   "Finally .. withdraw your money in Iraq from ATM"  Quote:  "CBI launched the National divider that allows the holder of a credit card issued by a state bank and a special withdraw money from any automated teller machine ATM is widespread across the country."  Good news.  Project "chucked" or project "divide" whatever you want to call it has been talked about for several years. Finally, it is operational.  ATM'S are now active in Iraq! Woo-hoo. This is a critical step towards bringing Iraq's banking system online and up to speed with the rest of the world.  For those who say "Iraq never accomplishes anything," this is a milestone.
 

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It is my opinion that people will only be able to change their notes at a bank, to start. 

1) take three zero notes to bank

2) open bank account (otherwise bank has no way to issue the bank card)(unless you already have a bank account)

3) deposit three zero notes in bank account in exchange for electronic dinar.( face value on the notes, of course)

4) withdraw some run around money

5) leave with fat bank account and card, and run around money

Or something like that anyway. You have to have a bank account to be able to use the ATM's.

the other thing is that that is how the control the flow of currency into the market and keep the note count to 1.18 billion notes.

Remember the 70% chunky cash articles? People's savings under the mattress. Technically in circulation but not actually circulating. Not after this. I am moving from unrealistically optimistic to holy Shiite this s getting ready to pop! 

Everyone have a great nights sleep knowing we are getting very close.

Again all just my humble opinion

peace out

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More than likely, if they are to stock them BEFORE an RV/RI, they would only hold 25,000 dinar notes, just as we only have $20.00 bills.

Even if stocked with the 25K notes, and, say, an RV happens January 1st, the 25K notes would only be worth the new 25 dinar notes - instantly (in country).

BTW - Can you imagine some enterprising Iraqis, after an RV, selling their 25k notes online (think Ebay) for $20,000 USD?  I wonder what the plan for that is?

 

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3 hours ago, Botzwana said:

Just a little more excitement....10,000 dinars for that car?  That is only $8.43 in American dollars.  Have they gone 1 to 1 in country?

15326366_1303616986346281_391617012316299009_n.jpg

Sorry to burst this hopeful bubble but I finally saw my Kurdish friend a few minutes ago and showed him this picture. He said the "E" you see in the ad signifies UAE.. in other words this is in UAE dinars, such as Dubai dinars, not Iraqi dinars.. also The Arabic writing is just the type of car it is.. 

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20 minutes ago, GregHi said:

Sorry to burst this hopeful bubble but I finally saw my Kurdish friend a few minutes ago and showed him this picture. He said the "E" you see in the ad signifies UAE.. in other words this is in UAE dinars, such as Dubai dinars, not Iraqi dinars.. also The Arabic writing is just the type of car it is.. 

UAE Currency is Durham  and not dinar. This add says dinars. 

Edited by MANNY99
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6 hours ago, Botzwana said:

Just a little more excitement....10,000 dinars for that car?  That is only $8.43 in American dollars.  Have they gone 1 to 1 in country?

15326366_1303616986346281_391617012316299009_n.jpg

 

2 hours ago, GregHi said:

Sorry to burst this hopeful bubble but I finally saw my Kurdish friend a few minutes ago and showed him this picture. He said the "E" you see in the ad signifies UAE.. in other words this is in UAE dinars, such as Dubai dinars, not Iraqi dinars.. also The Arabic writing is just the type of car it is.. 

wellll  ,,,,,,    maybe  it  is used price !    :lol:                     ......................   dang  after  the read ,  man I sure hope they do not stock  these  with  u.s. dollars  { a-t-m s  } 

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3 hours ago, GregHi said:

Sorry to burst this hopeful bubble but I finally saw my Kurdish friend a few minutes ago and showed him this picture. He said the "E" you see in the ad signifies UAE.. in other words this is in UAE dinars, such as Dubai dinars, not Iraqi dinars.. also The Arabic writing is just the type of car it is.. 

Thanks Greg. 

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14 hours ago, pokerplayer said:

While trying to stay grounded at the moment and contain my excitement is not easy. I keep asking myself over and over, " is this 13 yr. ride almost over ? "

We have waited a long time my friends. We deserve this. Once the excitement is over and we are back to reality, be cautious with your new found wealth. This will probably be the only shot we will get at wealth and we all should be wise with our Investment moving forward. $$$

Well here is to little to no sleep tonight.

   Cheers, pp

I haven't slept much in the past few weeks :rocking-chair: too much excitement and whiskey going on lately :cheesehead:

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I also mention to my friend that it looks like the ATMs are now connected and ready to use. He looked at me puzzled. He said even when he was last there in 2009, there were ATMs all around in the north and Baghdad. You had a choice of pulling out your money in dinars or US dollars. The ATMs were a little different than the ones we have here but they were dispensing cash even in 2009. I am guessing these ATM articles we are seeing are talking more about being linked together better or being linked globally instead of simply being able to work for the 1st time.. 

agan scratching my head, but that is what he told me..

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3 hours ago, GregHi said:

I also mention to my friend that it looks like the ATMs are now connected and ready to use. He looked at me puzzled. He said even when he was last there in 2009, there were ATMs all around in the north and Baghdad. You had a choice of pulling out your money in dinars or US dollars. The ATMs were a little different than the ones we have here but they were dispensing cash even in 2009. I am guessing these ATM articles we are seeing are talking more about being linked together better or being linked globally instead of simply being able to work for the 1st time.. 

agan scratching my head, but that is what he told me..

KEY word= GLOBALLY, that's the ones we want to see....................not sure i ever remember even seeing a picture of the older models, my guess would be comparing a model A ford to a Bentley.

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18 hours ago, GregHi said:

I also mention to my friend that it looks like the ATMs are now connected and ready to use. He looked at me puzzled. He said even when he was last there in 2009, there were ATMs all around in the north and Baghdad. You had a choice of pulling out your money in dinars or US dollars. The ATMs were a little different than the ones we have here but they were dispensing cash even in 2009. I am guessing these ATM articles we are seeing are talking more about being linked together better or being linked globally instead of simply being able to work for the 1st time.. 

agan scratching my head, but that is what he told me..

I will agree with your friend GregHi, the ATM's were operational in 2009 because I saw them myself. The picture in my avatar is in front of a Warka Bank in Baghdad in 2009, just behind those blast walls was the bank with several ATM machines in front of it. I'm of the belief that this "National Divider" is linking these "NEW" ATM machines not only in country but international. I'm thinking the old machines are not set up to handle the LD's..just my opinion of course...

A little throwback Thursday articles from the past...

 

TV: Rafidain Bank in Dhi Qar confirms that the introduction of ATM depends Ptsfir currency
Wed, 10 Dec 2014 19:50

Network news Nasiriyah / Ahmed Hassan: 
The director of the Rafidain Bank in Dhi Qar Hossein-Abadi in a televised interview moved local TV Nasiriyah The introduction of ATM in the markets and banks subject to the application of the decision to delete the zeros of the Iraqi currency, pointing out that the Iraqi currency is suffering from high inflation at a time current.

http://www.nasiriyah.org/ara/post/55155
               

 

Rafidain Bank announced on Saturday, launching MasterCardservice for retirees who are abroad through its branches located there.

May 17 2015

 

 The general director of the bank , Basem Kamal al-Hassani said in a statement received by "Shafaq News", that retirees who are outside Iraq can received their salaries now through this service."

He noted that a retiree has the right to go to any ATM to receive the same amount and currency of the country , where he, she lives.

 

http://www.zawya.com/story/Rafidain_Bank_launches_MasterCard_service_for_disbursement_of_pensions_outside_Iraq-ZAWYA20150517041133/

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5 hours ago, DoD said:

I will agree with your friend GregHi, the ATM's were operational in 2009 because I saw them myself. The picture in my avatar is in front of a Warka Bank in Baghdad in 2009, just behind those blast walls was the bank with several ATM machines in front of it. I'm of the belief that this "National Divider" is linking these "NEW" ATM machines not only in country but international. I'm thinking the old machines are not set up to handle the LD's..just my opinion of course...

A little throwback Thursday articles from the past...

 

TV: Rafidain Bank in Dhi Qar confirms that the introduction of ATM depends Ptsfir currency
Wed, 10 Dec 2014 19:50

Network news Nasiriyah / Ahmed Hassan: 
The director of the Rafidain Bank in Dhi Qar Hossein-Abadi in a televised interview moved local TV Nasiriyah The introduction of ATM in the markets and banks subject to the application of the decision to delete the zeros of the Iraqi currency, pointing out that the Iraqi currency is suffering from high inflation at a time current.

http://www.nasiriyah.org/ara/post/55155
               

 

Rafidain Bank announced on Saturday, launching MasterCardservice for retirees who are abroad through its branches located there.

May 17 2015

 

 The general director of the bank , Basem Kamal al-Hassani said in a statement received by "Shafaq News", that retirees who are outside Iraq can received their salaries now through this service."

He noted that a retiree has the right to go to any ATM to receive the same amount and currency of the country , where he, she lives.

 

http://www.zawya.com/story/Rafidain_Bank_launches_MasterCard_service_for_disbursement_of_pensions_outside_Iraq-ZAWYA20150517041133/

Thank you DoD for your confirmation! I really appreciate it. I have never been to Iraq myself so everything my friend tells me, I blindly accept and believe because I'm sure he wouldn't lie to me. And I try to relay the information that he says (as weird as it sounds or contradicts sometimes) so that all of us may have a better understanding of what's really going on over there more than the articles can tell us, or just a clearer picture at least. Thanks again!!

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08/12/2016 (00:01 pm)   -   the number of readings: 740   -   thenumber (3798)
 
 
11% of Iraqis have bank accounts and 300 ATMs across the country



 Baghdad / peace Zidane 
 

The CBI began its first steps toward making a transition to electronic financial transactions ,as is happening in the world after Nizami National divider activation and exchange of credit information, while financial experts have confirmed that the loss of confidence in banks deployed in the country would be deterred towards the implementation of the electronic financial transactions. 

Reports indicate that the Iraqi citizens lose confidence in the banking sector , where the proportion of Iraqis who have bank accounts 11% , while the number of funds chunky in homes of 37 trillion dinars. 
The central bank launched the action "national chunked" private exchange remittances through the introduction of credit cards, and as he pointed to a run of five banks and companies to collect POS first system stage, he emphasized that the system will connect the banks communications network and a single and easy to a lot of banking matters. 
He said in a press statement, that " the launch of the system in the rest exported banks for payment cards will be before the end of this year , " he said , adding that " the system will connect the banks communications network one, as they would be a lot of banking matters and will eliminate routine followed in reviewing the banks will complete the transaction as soon as possible possible, through electronic payment instruments represented the credit cards of all kinds. " 
And works in Iraq , 45 private banks are using modern electronic system and under the leadership of the Association of private banks led by Assyria and Handal depositary bank manager. The executive director of the Association of private banks, Ali Tariq "long", " The banking system in the country began to evolve through modern technology used and the most recent exchange of credit information system launched by the central bank and its goal to know the customer who wishes to obtain a loan history , " referring to "There is no cooperation between the banks among themselves to see customers who have problems in repayment ofloans?". 
He added that " the exchange of credit information system that includes the names of borrowers of all banks across the country, including the Kurdistan region , " explaining that " the exchange of credit information system will make the banks take the right decision on giving the customer the loan or not." 
Tariq He noted that the "second system known as the National divider launched days the central bank before the target system to link ATM civil and governmental banks devices Anyone who has a bank account in banks associated with this system to withdraw money from any ATM machine is widespread in the country , " noting that "banks located in the Kurdistan region operate this system." 
He stressed that " the first meal of the five banks associated with the National divider system is the Iraqi Bank of Commerce and Bank of Baghdad and the Bank Ahli Bank of the Middle East and Assyria , and will in the coming days , the International Development Bank and the Bank of return , " pointing out that " the number of ATMs deployed in Iraq , $ 300 device . " . He pointed out that " the banking sector is well advanced and we wish that you own to pay the salaries of private sector companies as well as banks and government departments." 
The number of bank branches in the country 's 900 branch, and reports indicate that every bank branch serving 30,000 citizens, while all ATMs serve 120,000 citizens, but in Jordan each bank branch serving 8.5 thousand people all ATMs serve 5846 residents. 
On the other hand, said financial expert Abdul Rahman al - Mashhadani , "long", said that " a systematic national divider activation and exchange of credit information is an important step towards the development of the banking sector , " noting that "these systems are used between the countries since the work began with the ATM." 
He stressed the financial expert on the "need to develop the banking sector by using modern technology and offer more services that make the citizen 's trust in the banking sector and the deposit money in scattered in the country 's banks , " pointing out that "many of the banks that were big names collapsed too quickly and this makes the citizen does not trust banks. " 
He called al - Mashhadani , the private banks to " the need to increase the number of bank branches and ATMs and solving all the problems related with the ATM." 
In the meantime, the economist said a just peace "long", said that " the use of an important step toward activating the banking sector , modern technology, but requires a major effort , especially that there are lagging behind banks," adding that "ATMs where many of the problems have been exposed to theft sometimes on the banks find serious solutions to this issue ".

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