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


yota691
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28 minutes ago, Botzwana said:

 

So it seems that we are close no?

 

Thank You, Botzwana!!!  Yep, hard (very hard) to say no!

The original article starts by stating, "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."

Well, OK, we have seen articles that this is coming.  It appears as if it is here NOW!!!  If I recall correctly, most of the banks in Iraq are State Banks.  If the ATMs are widespread across the country, it really seems like the lower denominations are about to hit.  Would they really stock the ATMs with 1,000, 5,000, 10,000, 25,000, and 50,000 IQD notes.  That would seem to be a mess!

I am getting reved!!!

:backflip:          :backflip:           :backflip:

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Botzwana Thanks,  Synopsis Agree, DV....I'm feeling some good vibes because we all feel that behind the scenes excellent progress is being made and we will definitely witness the end results hopefully real soon.....RV / RI of the IQD.   

Keeping the faith!!

 

GO RV!!

Edited by tigergorzow
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31 minutes ago, Trimark said:

I haven't followed this recently like I used to so sorry if this has been covered - at one time there was talk of government employees being paid by card.  Does anyone know if they are?  That would eliminate a ton of cash and hurry the transition to an electronic society.

Here ya go Trimark, a couple of the latest articles out there about the smart cards ;)

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24 minutes ago, Trimark said:

I haven't followed this recently like I used to so sorry if this has been covered - at one time there was talk of government employees being paid by card.  Does anyone know if they are?  That would eliminate a ton of cash and hurry the transition to an electronic society.

hey tri - mark  !  shoot  a lot of us  had seen the news where the Iraqi Olympic teams  were giving the bank cards at the time of the rio Olympics , but  did not see any other mention of the article , or any photo of the cards ,  but we have seen photos of the cards the government and people seem too be getting  , and I think these were infact  p.o.p.  casrds  { point of purchase } like all credit cards are ... { except for American express , and dinners ^_^ }   but  what makes this article super dupper ,  is  the fact that  the banks are now giving the cards access too all a-t-m s all across  Iraq ...  and  able too load and payout  with each transaction !  now we must wait for a couple days , too see what happens next ,  will the dinar finally gain value and / or  will lower denominations be loaded into the a-t-m s    ,  I can  only guess what the  next few days will see , is the a-t-ms will be used as  payment purchase type transactions and balance checks ,  { but if they are checking the balances at the a-t-m-s  this tells me  they are looking for the gas and oil money , that the government has promised over and over }   maybe they arte about too actually happen this time  !   got too love the international transactions they threw in the article !

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1 hour ago, Synopsis said:

Thank You, Botzwana!!!  Yep, hard (very hard) to say no!

The original article starts by stating, "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."

Well, OK, we have seen articles that this is coming.  It appears as if it is here NOW!!!  If I recall correctly, most of the banks in Iraq are State Banks.  If the ATMs are widespread across the country, it really seems like the lower denominations are about to hit.  Would they really stock the ATMs with 1,000, 5,000, 10,000, 25,000, and 50,000 IQD notes.  That would seem to be a mess!

I am getting reved!!!

:backflip:          :backflip:           :backflip:

Access to cash is fundamental and a necessity, even though those machines may be stuffed with the old currency, the small denominations are not far behind DV.

Much obliged Botswana and yep, agree with you Synopsis, we are looking good.  :twothumbs:

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11 minutes ago, siberian_shaddow said:

Much appreciated BZ, And thanks Synopsis. so the question is what's in those ATM machines large or small.

All The Best, Siberian Shaddow!

I will have to wait and see if the lower denominations are in the ATMs.  One tricky event could be having the ATMs stocked with the larger denominations and dispensing those if there were to be an in country revaluation.  I suspect folks will get the idea real quick they could make a small fortune by dislodging and running off with ATMs stocked with the higher denominations.  If nothing else, locals may still abscond these ATMs and sell the larger denominations to foreigners on the black market if not advantageous to convert the higher denominations in Iraq.  Not sure how they would work around the serial numbers on the notes but suspect there are some "creative" folks to get around that issue.

It would seem to make sense for the ATMs to be loaded with lower denominations since the CBI has announced the "removing the zeros project" the beginning of January 2017.  Also, the larger denominations have been a focus for removing from circulation in Iraq so stocking the ATMs with larger denominations would seem to defeat this initiative.

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23 minutes ago, Wiljor said:

Access to cash is fundamental and a necessity, even though those machines may be stuffed with the old currency, the small denominations are not far behind DV.

Much obliged Botswana and yep, agree with you Synopsis, we are looking good.  :twothumbs:

Yep, Wiljor, we are looking good!  :twothumbs:

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Not to be a downer but do they not need to be in article 8,, WTO,,.. where can we find this article, and can Yota  get this verified ..I know he did not post it.. just want a second opinion. if they can't even pass the budget ,, I will wait till I get some more info to jump for Joy... Thanks for getting my blood to flow.

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I agree with Snyopsis. Why reissue what they have worked so hard to vacume up. Besides, if they planned on placing the current (large) denoms into the machines, they could have implimented this a long time ago, with little education to the public on the process. BUT, you would need crisp notes for the machines. Which means, they would have to print large denoms to place in the machines due to the damage of the bills. Botzwana you rock!

I feel this is it!!! Wow!!!

 :mexican::mexican::mexican:

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How much money does an ATM machine hold?

The average size ATM machine can hold as much as $200,000  

In USA the ATM machines are loaded with $20 notes

$200,000 is 10,000 notes of $20

-----------------------------------------

By the quantity of notes (10,000 ) that the average size ATM machines hold, I believe we will see the lower denomination notes

really soon

Go CBI

Go new monetary policy

Go $1:1

 

 

 

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If they stocked the machines with the current denoms and it revalued to 1:1, that's an average of 179,000,000 million dinars(dollars) per machine, sitting loaded on the street for the taking.  I would say the lower denoms are coming out!!

Edited by gregp
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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

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7 minutes 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

Wise Words, PokerPlayer.  Thank You!

:twothumbs:          :tiphat:

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