G-Lin "The Whales Have Had a Field Day" 1/2/18

by roxy22222222 Wed Jan 03, 2018 9:35 pm

News release: "To all banks licensed to practice money exchange and all authorized financial transfer companies (filing applications on 2018/1/7)". The pdf is in Arabic, but it mentions {RTGS} [Real-time gross settlement]. I think this may be big… It looks like it is opening Iraq up to International banking which is something we have only dreamed about. I think it is all about digital banking. It may affect the auctions. Less cash required. The imports and exports could become an instant electronic transaction. I would like to think this would require a true valued currency. It just tells me that the banking industry has really come a long way. Iraq is coming out of the dark ages since the Chap. 7 restrictions were removed. This also clamps down on the corruption in the black market imports. The whales have had a field day. Transparency and accountability will be key moving forward.