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Wednesday, May 2, 2018

FRANK26 TIDBIT, 2 MAY


The governing branch of GOI approved the modernizing of the banking system.  In January, Feb. March of this year they completed the project.  The modernizing and reforming of the banking system was a requirement of the IMF.  Now there are articles out telling the citizens of Iraq (about this - the main thrust and point of Financial Inclusion week)  The financial inclusion ENDED TODAY [Monday].  Everything that needed to be done for the RI was done in 1st quarter of 2018.  Now the thrust is to educate the citizens.  To include = Inclusion.  Contracts will now be done in ONLY the local currency.  Iraq’s currency!  The dollar was always used to bridge them into any contract, any agreement.   The CBI is saying we have control of our exchange rate.

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