[Shredd] … Let me set the stage a bit for you all. As you know we at BLC focus on the entire picture, not just the dinar but politics economics, the whole picture, right ? so, just like our chat of the banking and investment laws. This accession is huge and I aim to explain this so you walk away knowing some major steps continue to take place behind the scenes, if you will, that bring Iraq to a place where they are ready to have a strong dinar in front of them. Ok, this accession of Iraq to the establishment of the International Islamic Trade Finance deserves a bit of explanation for you all. Trade Finance is the structure behind international trading, so the banks behind the buyer and the seller, obviously the money held and protected by those banks. The seller, obviously the money held and protected by those banks. International trading refers to obviously importers and exporters but it also includes institutional entities like finance corps and insurance companies……all big dogs in the world of trading folks! Now, let me explain this entity…. This says the ITFC was formed to consolidate the trade finance business, to increase service delivery efficiency and to enable rapid response to customer needs in a market-driven business environment. It’s also responsible for providing shariah-compliant trade financing for OIC (Organization of Islamic Cooperation) member countries, with a particular focus on financing intra-trade between member countries. Iraq has been a member since 1975. Lastly, they strengthen corresponding banking networks among member countries. So what the heck does that mean? Well, this is an attractive necessity for investors, underwriters and financial institutions. This tells them that once investments are established, the trading within them will take place safely, timely, efficiently and correctly due to the oversight of the ITFC. My bank (a massive, global bank) has gained and lost clients/appointments due to the perception of our ability to do this for them and their investment vehicles, so this is deal-making or breaking stuff. Trading is the life blood of any investment….moreover, timely, efficient and accurate trading. Portfolio managers need to know they can move underlying components of a portfolio at any given moment, largely due to market conditions. If that can’t happen, the investments will die the moment the market fluctuates which I’m sure you know happens all the time! If a trade cannot take place strictly as directed, the show is over. Some trades we strike with traders have to be executed to the minute based on rapid market fluctuations. So, to see this bill being voted on is awesome to see. This is yet another “behind the scenes” necessity for Iraq to ascend to a place where investment and banking has a safe place to be….just like the banking and investment laws we talked about last week. Let me tell you this, I have full access to daily global accounts, massive investment vehicles and products and services that cover every single sector. You may have heard the credentials from other site leaders, commentators and gurus…..I’m not a currency or day trader or a commentator, I’m a VP in a top 3 international bank and have been with them for ten years. The entire time I’ve been there, Iraq has been non-existent due to what we all know has been taking place there…..and they still are today. These banking and investment laws, this assention to the ITFC is absolutely necessary for Iraq to emerge among their peers to welcome global investment and to ensure safe banking and trading is in place. My hope is that when you gain an appreciation of what is all being accomplished, you will see vital progress, not frustrating stagnation. A big thank you for Miss T finding this and showing you all so much is and has been moving forward. Don’t be like the rest of the sites and solely focus on the dinar but see what a wonderful “house” being built for the new, stronger dinar, without the three zeros and with a stronger and growing rate! Will this directly bring us an RV tomorrow? You all aren’t that absent to think as such im sure, but these all have to have been done to bring Iraq to the place they need to be.
Some say the dinar was supposed to have moved by now as far as the monetary policy and the rate, whether it be via a float, or a continued managed float, but it didn’t did it? Why? well, in part, these things had to be in place first… So, be excited we find this being done……great, great progress y’all