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Official CBI News 03/09/2023


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The Central Bank of Iraq issues instructions about ATMs

 
economy  ,  03/09/2023 19:56  , 
 

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Baghdad - Iraq today:

The Central Bank of Iraq decided to use the local currency (the dinar) only at ATMs.

According to a document, that “based on the decision of the Council of Ministers and in light of the policy of the Central Bank of Iraq to encourage reliance on the national currency in financial transactions inside Iraq provided by the banking system and non-bank financial institutions, it was decided that electronic financial services provided inside Iraq should be through (ATMs). Points of sale devices, electronic payment gateway) in the Iraqi dinar.

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Adoption of the national currency

March 9, 2023

 

Based on the decision of the Council of Ministers and in light of the policy of the Central Bank of Iraq to encourage reliance on the national currency in financial transactions inside Iraq provided by the banking system and non-banking financial institutions, it was decided that electronic financial services provided inside Iraq through (ATMs, point of sale devices, electronic payment gateway) will be in the currency of the Iraqi dinar.

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27 minutes ago, NMP2017 said:

Could be something big coming? I mean how the heck can they put ENOUGH dinar in an ATM for someone to withdraw enough to pay for dinner? Lol!

Hope they have several wheelbarrow R’ us locations throughout Iraq.  I’ll get in on that stock purchase. 😂 

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1- CBI adopted the Swift System

2- Daily auctions ($) when down 

3- All banks sale dollars throughout electronic platforms 

4- Dinar revalued by 10% from 1460 to 1300

5- Prime Minister Tweeted mohamedshia #Keep the dinar because the #Dinar is stronger.
6- Adoption of the National currency 

 

All this is part of the De-dollarization Process.!

 

Iraq continues moving towards an open market economy with and international recognized currency 

 

GO STRONGER DINAR $1+

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The Iraq government has a new agreement with J P Morgan in NYC and  Iraq's petrodollars are banked in NYC. I wonder if the petrodollars are deposited with J P Morgan and J P Morgan is making the payments on Iraq's invoices using the petrodollars and replacing the auctions while the USA keeps a close eye on the funds, payments while eliminating the risks of corruption.

 

Just thinking...

Edited by Carrello
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26 minutes ago, Carrello said:

The Iraq government has a new agreement with J P Morgan in NYC and  Iraq's petrodollars are banked in NYC. I wonder if the petrodollars are deposited with J P Morgan and J P Morgan is making the payments on Iraq's invoices using the petrodollars and replacing the auctions while the USA keeps a close eye on the funds, payments while eliminating the risks of corruption.

 

Just thinking...

I believe there were articles during the dc visit indicating chase was going to be facilitating trade between china and Iraq settled in their own currencies. Not sure how that fits in here but interesting stuff happening 

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1 minute ago, Carrello said:

Maybe it's Chase and I have it wrong. My real point is if the US is controlling Iraq's payments to Iran for electricity, I believe we have control on all payments.

 

Thanks, Mally.

Same thing, it’s J.P. Morgan chase. I was also just thinking out loud that they were announced as the hub or facilitator for future yuan/dinar settlements, thanks! 

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