CBI Issues An Official Statement.

[Luigi1]

Here's an article of Dinarian interests...

CBI Issues An Official Statement.

Treat as a rumor.  Not verified.  Your opine.

 

Goldilocks:         CBI Issues An Official Statement.

ARTICLE:  Banking Announcement of the CBI in Iraq:  In an official statement from the CBI of Iraq, customers inside Iraq can receive the Dollar with the permission of investors involved in the transaction.   Otherwise, all transactions are to be done in the Iraqi Dinar going forward in order to enhance confidence in the Dinar.   This official statement is the new monetary policy that has been decided to begin on January the 2nd, 2024 per the Council of Ministries.
 

[Artitech]

If that is true, the way I’m reading it, you can still use dollars???

[pokerplayer]

Somehow I just New Iraq would screw it up and throw out a loophole to still use the US green backs.

 

Ratz, I hope I'm wrong 3 ways to Sunday on this one.

 

   pp

[Luigi1]

Just for laughs...don't take any of this seriously...

 

MarkZ via PDK:        I Noticed.

Comment:  I was in a Chase bank last week & noticed an entrance for private banking services.

In the bank I noticed cubicles & training ongoing.  

MarkZ:  Clearly they are preparing.

 

 

Luigi's NOTE: 

Inside the cubicles they were probably discussing their New Year celebration party plans.

 

[Luigi1]

8 minutes ago, Artitech said:

If that is true, the way I’m reading it, you can still use dollars???

 

I believe the statement means, for official business transactions only.

 

 

11 minutes ago, pokerplayer said:

Somehow I just New Iraq would screw it up and throw out a loophole to still use the US green backs.

 

Ratz, I hope I'm wrong 3 ways to Sunday on this one.

 

   pp

 

I believe CBIs preparing the way to de-dollarize except for official business only & is preparing the way for a much bigger announcement....IMHO.

 

Don't lose hope...the world wakes up tomorrow morning & we may see something, yet.

[coorslite21]

1 hour ago, Artitech said:

If that is true, the way I’m reading it, you can still use dollars???

 

Iraq has the intent to quit the dollar. This intent isn't a light switch. Iraq will always play both sides of anything if it is to their advantage. Just my thoughts.....CL 

 

Foreign Remittances

By Chella Smith   The Central Bank has identified four categories that are eligible to receive foreign remittances in cash in dollars.   The Central Bank of Iraq has identified four categories that can receive foreign transfers in cash in US dollars in 2024: diplomatic missions, organizations and government contracts, and 40% of remittances to Iraqi exporters. These entities are covered by the monetary policy objectives and banks can hand over the amounts of remittances received from abroad in cash. Banks will continue to open accounts in foreign currencies in exchange for interest/returns, and customers have the right to withdraw deposits and interest/returns deposited in cash. Banks are not allowed to automatically transfer funds from outside Iraq in US dollars to the dinar currency without customer consent. In force government contracts in USD, ongoing contracts on grants, loans and external agreements. 40% of the incoming transfers to Iraqi exporters resulting from their exports abroad. Foreign remittances in cash in US dollar currency, as of January 2, 2024

 

[Luigi1]

23 minutes ago, coorslite21 said:

 

Iraq has the intent to quit the dollar. This intent isn't a light switch. Iraq will always play both sides of anything if it is to their advantage. Just my thoughts.....CL 

 

Foreign Remittances

By Chella Smith   The Central Bank has identified four categories that are eligible to receive foreign remittances in cash in dollars.   The Central Bank of Iraq has identified four categories that can receive foreign transfers in cash in US dollars in 2024: diplomatic missions, organizations and government contracts, and 40% of remittances to Iraqi exporters. These entities are covered by the monetary policy objectives and banks can hand over the amounts of remittances received from abroad in cash. Banks will continue to open accounts in foreign currencies in exchange for interest/returns, and customers have the right to withdraw deposits and interest/returns deposited in cash. Banks are not allowed to automatically transfer funds from outside Iraq in US dollars to the dinar currency without customer consent. In force government contracts in USD, ongoing contracts on grants, loans and external agreements. 40% of the incoming transfers to Iraqi exporters resulting from their exports abroad. Foreign remittances in cash in US dollar currency, as of January 2, 2024

Luigi's Opine...

USD is for official business for Iraqis businesses & companies doing int'l transactions.

The USD will be De-Dollarized for ordinary Iraqis dealing in black market, speculation, currency street vendors & other illegal activities...IMHO.