Adam drive by 3/22/11 morning

[Dinarkicker]

8:48 AM [Adam Montana] Woody emailed me an awesome article this morning

8:49 AM [Adam Montana] it's posted here: http://iqd.me/l/7h

8:49 AM [Adam Montana] it ties into my last chat 100%

8:49 AM [Adam Montana] "Economists call for activating Visa cards"

8:49 AM [Adam Montana] this is a huge clue, or at least a great sign

8:49 AM [Adam Montana] I don't have a date on it yet

8:49 AM [Adam Montana] but this matches what I was explaining

8:50 AM [Adam Montana] Iraq holds so much of their "money" in paper form

8:50 AM [Adam Montana] it's actually harder for the government to control the economy and banking flow

8:50 AM [Adam Montana] with so much money in "paper"

8:50 AM [Dinarkicker] makes sense

8:50 AM [Adam Montana] this article is awesome for a couple of reasons

8:51 AM [Adam Montana] 1. when the Dinar grows in value, if it grows by a large margin - which we believe it will

8:51 AM [Adam Montana] Iraq needs to educate quickly and also adapt quickly

8:52 AM [Adam Montana] 2. Iraq has had one of the most stable currencies and inflation rates for several years now

8:52 AM [Adam Montana] I have been told several times by several different Iraqis in positions of authority

8:52 AM [Adam Montana] on of whom is a CBI employee

8:52 AM [Adam Montana] that there are plans to "roll" out a series of events when the value goes up

8:53 AM [Adam Montana] one of the major steps is to completely overhaul the mindset of the average Iraq

8:53 AM [Adam Montana] in order to better handle the larger value of the money

8:53 AM [Adam Montana] and VISA cards and ATMs are a huge part of this plan

8:54 AM [Adam Montana] so to see an official economist report calling for this, in public

8:54 AM [Adam Montana] I think that is a great sign

8:54 AM [Adam Montana] from what I understand

8:54 AM [vested] GM Adam Montana

8:54 AM [Adam Montana] if the Dinar were to increase in value so much that they needed to pull the large notes out of circulation

8:55 AM [Dinarkicker] anything that brings this to the public is a good thing

8:55 AM [Adam Montana] it's only natural to understand that they can't give EVERYONE all of their cash

8:55 AM [Adam Montana] they'd run out of notes

8:55 AM [Adam Montana] they will have to FORCE the public to accept digital money, electronis banking, ATMs, etc

8:55 AM [Adam Montana] in other words, the citizens will go to the bank to cash in their large denominations

8:56 AM [Adam Montana] if they bring 100,000 dinar

8:56 AM [Adam Montana] they may get 10 or 20,000 in cash

8:56 AM [Adam Montana] the rest will have to go into an account

8:56 AM [Adam Montana] how do they get access to it?

8:56 AM [Adam Montana] well, sir, the entire country is now using Visa Cards

8:56 AM [Adam Montana] they wouldn't have enough small bills to cover cashing in a whole country

8:57 AM [Dinarkicker] the same way we do here in the US

8:57 AM [Adam Montana] Dinarkicker exactly

8:57 AM [Adam Montana] that's it for this morning I've got a TON of work to do.

8:57 AM [Dinarkicker] it will also make bring the ME together IMO

[linny0830]

Thank you for the quick post

[behaviorkat]

NICE!!!!!!!!!!!

[roxyredhead]

Thank you very much, Dinarkicker! Is is always uplifting to see Adam excited about the events taking place!!!

[Tubbs]

No implants please cash or Visa

[Bumper64]

Thanks DK for posting Adam's chat!! Thanks Adam for the info!

Thanks k98nights for the article!

[bluejay]

Thanks for the info Adam, and thanks for the post DinarKicker.......Signs Signs Everywhere are Signs....

[rsskelton]

Thanks, good info. Visa, Mastercard, Think they'll take Iraqi Express? Nah, I don't think express is a word that is in the Iraq vocabulary.

[Lojack6T]

Plastic in Iraq, who'd a thunk Babylon would be brought into the new world economy any other way. Thanks for the research Mr. Montana! God Bless Visa and the USA !

[speculator2]

I just would like my Warka card to work again...

[RickOhio]

Another big developement! Thanks Adam. Hopefully this ride is coming to an end!

[kennyc]

We are so very close & this is another step in the right direction

[Adam Montana]

Visa Cards, the future of the Iraqi Dinar. http://iqd.me/l/7j <--- feel free to leave a comment on my blog, I'll be replying there.

[yusofsabri]

Great info. Thanks for sharing.

Adam, when do you think this plan will be executed?

[explorer]

thanks for sharing!

[Off-the-grid]

So long as those Visa cards are DEBIT ONLY, not DEBT INCURRING. I don't want to think how hard it will be to teach the general Iraqi public that their new Visa cards are not magic "buy anything you want without money" cards. What do you mean I owe you 30,000 IQD? I paid with that Visa!!!

Just a thought.

Peace and Prosperity

[lvbodyworker]

So long as those Visa cards are DEBIT ONLY, not DEBT INCURRING. I don't want to think how hard it will be to teach the general Iraqi public that their new Visa cards are not magic "buy anything you want without money" cards. What do you mean I owe you 30,000 IQD? I paid with that Visa!!!

Just a thought.

Peace and Prosperity

THAT WOULD BE A WHOLE NEW CAN OF WORMS FOR THE AVERAGE IRAQI!!!

[ronscarpa]

Adam Montana Chat - 3/22/2011

Thanks for the chat ADAM...and thanks for posting Dinarkicker...(+1)

Interesting...let's see how things evolve...!

RON

[drox]

Hey Adam I'm sure you know but some of your readers might want to know that... Trade Bank of Iraq introduced Visa cards more than 5 years ago. They were also the first bank to introduce ATM's and general banking automation and hold many of the different Government Ministry's accounts.. I have been following their site for sometime because I believe them to be sort of the "franchise model" that the CBI is encouraging all banks to become. Especially the 2 largest state-owned Iceberg banks. R and R.

The CBI has been encouraging bank mergers to increase their strength and especially to push for automation and the introduction of services. Shabs increased the reserve requirements last year. They are all having difficulty meeting those requirements. In part, it was so that they would have to merge through economies of scale to get to those requirements limits.

Added services, strength, security, e-banking, savings and lending are all necessary components to encourage Iraqi's to open accounts and to trust Iraqi banks. None of them trusted them in the Saddam days. It was rumored last year that 80% or more of all transactions were cash. Meaning that Iraqi's did not have bank accounts. It was all under the mattress. I think for a significant RV to happen... Iraqi's must believe, trust, and utilize their banks. Have a good day!

http://www.tbiraq.com/en/

Visa Card Operations

TBI has been working steadily on increasing the number of cardholders within a well planned strategy. During 2007, the department:

1. Restructured and expanded the Visa department. Recruited and trained a dedicated team to operate the Visa Card System at TBI and its branches
2. Increased the number of TBI Visa Cards by 84.2% from 2,578 to 4,750. The number of cardholders in December 2005 was only 385. This reflects the acceptance of the Iraqi people of the benefit of using the Visa Card as well as cash
3. Expanded issuance of the Visa Cards. TBI’s branches in the cities of Baghdad, Basrah, Sulymania and Erbil are now issuing Visa Cards to their customers.
4. Executed a plan to train and develop the department team on Visa operating rules and regulations with Visa Business School.
5. Introduced the security and saftety features of the usage of TBI Visa Card to cardholders of TBI and its branches
6. Increased the number of ATMs in Iraq that now accept international Visa Cards to three. They are installed in Baghdad and Erbil.
7. Extended TBI Visa debit card awareness to the staff members of corporate clients, and government offices.

Automation at TBI

This was an essential but highly challenging. We are pleased that our goal has been achieved but it has taken much long than anticipated. See details below:

As TBI’s business grew the decision was taken to develop ‘Core Banking Software’ to ensure a smooth flow of work within TBI’s increasingly voluminous business. As such, TBI looked to acquire a branch automation system preferring a product vendor strong in the retail banking space and trade finance because more than 80% of TBI’s business was documentary credit and trade finance.

Misys International Banking Systems Ltd., widely recognized for its core banking solutions, was chosen in July 2005. Misys has a recognized track-record globally and regionally for their design, development and delivery of ‘Core Banking Solutions’.

The project commenced in October 2005 and phase one of the testing was completed in April 2006. Hands on training to employees of the TBI was provided in April 2006. However, the final implementation stage was faced with challenges that delayed the Bank’s projected time line for several months, which impacted the production of year end accounts for 2006.

The new systems went live in May 2007. However, as it is often the case with new systems, there were initial teething problems.

[tcjams]

Nice one....

[quadraph0nic]

Thank you Adam. As for an RV, this would make it easier rather than having rely on printing a ton of small denominations and the costs associated with that.

Drox, nice post. I've always been curious about TBI because of the major players involved in that bank. Of course that bank is not so accessible to me.

I've also seen NorthBank claiming they have a visa card service and also bank of baghdad I think.

It would be nice to see all Iraqi banks offer Visa card service.

Regardless of the outcome, they (the banks) will need to offer visa card service. This is standard.

I hope this is a key to our RV.

[MovieMaker]

Thanks For Sharing REAL STUFF

[keepmwlknfny]

This is GREAT news! If they can get the iraqis to trust the banks and turn in their physical currency for electronic funds then it will cover the issue of the excessive amount in circulation which means the rate at which they come out at can be significantly higher! I think this is the best news or plan I've heard in months! I guess the dinar gods heard my issue with the currency in circulationproblem and they have sent me my answer! BRILLIANT! Now if they can only follow through and be successful in this plan then id say we are in great shape!

[graml]

The only question I have about this is will the Iraqi people trust the banks and will they know and accept the plastic cards? I guess that is two questions, sorry.

[Kandi77]

This is GREAT news! If they can get the iraqis to trust the banks and turn in their physical currency for electronic funds then it will cover the issue of the excessive amount in circulation which means the rate at which they come out at can be significantly higher! I think this is the best news or plan I've heard in months! I guess the dinar gods heard my issue with the currency in circulationproblem and they have sent me my answer! BRILLIANT! Now if they can only follow through and be successful in this plan then id say we are in great shape!

Hey if Keep and Adam get excited about something... you better believe I'm going to pay attention!!! Thanks!!!!