To successfully redenominate and revalue the Iraqi dinar at a target parity of $1 USD = 1 IQD, the following operational processes must be carried out in order: 1) External Validation and Phase II Banking Reform Completion. After phase-one reforms are finished, all private Iraqi banks will have full access to foreign exchange (seven banks have already been reinstated). 2) Hardening of Digital Payment Infrastructure. Complete the process of integrating authorized electronic payment providers into a single digital payment system. Increase the use of international standards for card ceilings and cross-border activities. 3) Zero Deletion Execution: Redenomination is carried out by eliminating three zeros from current dinar notes (e.g., old IQD 10,000 note swapped for new IQD note). To reduce uncertainty during the changeover, start a public education effort. [Post 1 of 2….stay tuned]
These are Iraqi Dinar Guru Updates, News, Opinions, and Intel Dinar Opinion
