sandyf, on 26 Mar 2013 - 08:57, said:
This is a bit of a mixed bag. Forex and payment systems are 2 completely separate issues. Citi World link has been paying people with IQD for some time.
WorldLink® Payment Services has been making IQD payments on behalf of selected clients since 2006 adding to the exotic currencies suite.
With the success established over five years, WorldLink has differentiated itself by having local expertise and strong banking relationships in Iraq.
WorldLink is now offering IQD payments as a fully developed and proven offering to all relevant WorldLink clients.
Read More Link On Right
Despite what some so called forex experts may say I believe the IQD is already trading on the forex spot market, unless someone can explain the function of these symbols.
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SYMBOL DESCRIPTION EXCHANGE SECURITY TYPE LISTED MARKET EURIQD.COMP COMP EUR IQD Spot FOREX FOREX TENFORE GBPIQD.COMP COMP GBP IQD Spot FOREX FOREX TENFORE IQDGBP.COMP COMP IQD GBP Spot FOREX FOREX TENFORE IQDUSD.COMP COMP IQD USD Spot FOREX FOREX TENFORE USDIQD.COMP COMP USD IQD Spot FOREX FOREX TENFORE EURIQD.DRES DRES EUR IQD Spot FOREX FOREX TENFORE GBPIQD.EUAM EUAM GBP IQD Spot FOREX FOREX TENFORE IQDGBP.EUAM EUAM IQD GBP Spot FOREX FOREX TENFORE IQDUSD.EUAM EUAM IQD USD Spot FOREX FOREX TENFORE USDIQD.EUAM EUAM USD IQD Spot FOREX FOREX TENFORE USDIQD.RADA RADA USD IQD Spot FOREX FOREX TENFORE
The credit card companies may well be introducing the IQD but it is not a definitive indication of a rate change.
At the end of the day I do believe we are heading in the right direction and can only hope that this is an Easter to remember.
EXPECT MORE: Hi sandyf,
I am new to posting here and I am only trying to add value so here I go.
We were asked to elaborate on info without compromising our contacts (paraphrased). There is not really a mixed bag because marine 1 and I are business people.
If we were to discuss the importance relative to our MC relationship we would be compromising our own trade secrets and our clients or potential clients. We have much more potent information that comes from multiple sources other than MC with significant credibility.
Let me be clear, I did not mean to suggest that I am a Forex expert. Until a few years ago the only foreign currency in my portfolio was that which was left in my billfold from foreign travel. Just as importantly, your mention of WorldLink Payment & Citibank et al make clear that the IQD is an exotic currency.
MasterCard depends on their sponsored banks to issue specialty cards that address specialty cases such as Citi Bank's WorldLink.
However, a currency becomes less exotic when every MasterCard (or Visa) issuing bank begins to program so that the entire portfolio of MasterCard products is able to be used by all of their customers (consumers and corporate).
That is when one should notice such trending. Think of it in this manner, most people assume that there are MasterCard credit and debit products and that is about the limit of the product line. That is a mistake and the aforementioned products represent only 35-40% of MC financial products available.
MasterCard issuing banks must make all of those products usable in new emerging markets or they will lose market share.
If you view our post from 30,000 feet versus a 1,000 foot view you would discover we are talking about multiple enterprises programming a world-wide preparation for a currency that is moving from exotic to mainstream. marine 1 and I have a front row seat for this show.
The implications are unfathomable. For instance, the charitable causes that will be launched on behalf of and for the Iraqi people will depend on operating and functioning financial programs that are not addressed in temporary fix programs such as WorldLink. Delivery of medical benefits will require a financial system that is current in 2012 not 2003.
We want to be sure everyone understands we are not gurus or predicting anything, we are business people watching trends. Human behavior by people with unknown agendas cannot be predictable.
We just tried to deliver observations to the PD about things that smart international enterprises are doing. Their leaders and decision makers are accountable to share holders. They seem to be less emotional and more results driven. Just sayin, Expect More
Stevel : Very nicely stated and to the point which makes perfect sense. Thank you for taking the time to share this. Many people (investors) in this currency really does not understand how complex this actually is. The more laws that get passed just makes it even more complex. The credit card is a huge part of Iraq's financial model and glad to see this surface now in such details. Blessings, Steve
EXPECT MORE: In last week or so I have only posted a couple of times. I am a friend and business partner of marine 1. He can certainly attest to my ability to carry on ad nauseam. I just haven't had anything of value to contribute. Now events are beginning to collide with what we are doing that show a trend supporting a Iraq that might become an emerging economic country. marine 1 and I believe this thing might just get done.
STEVEl: By the way, I will personally vouch for both of them because this is as real as it can get. Thanks for sharing. Blessings, Steve
Marine 1: Hello guys and gals....just wanted to jump in here for a minute....my friend and business partner....EXPECT MORE...has been sitting on the sidelines watching the forums and all the chatter and finally said....Lonnie....oop's....marine1....I gotta jump in here.....and I said JUMP IN...and so he did....
as you can see... he is passionate about our business and only speaks to what he knows..... we both stay with Steve's basic premise of only stating what we know to be accurate and relative to our investment.
Our relationship with MasterCard has been ongoing for the last few years. We interact with the exec level routinely. We know what we know and that is that the world's financial transaction processors are nearing completion of technology integration and implementation to the CBI.
This of course includes currency conversion. Not a single currency transaction, either consumer card or corporate payment card will cross international lines without currency conversion.
Now you know what we know.....stay thirsty my friends. marine1
STEVEl: Ray and I have had the privilege and honor in speaking with both of them and I can assure you that they share only what they know and believe in. Two awesome gentlemen in which I look forward to meeting in person when this is done.
Thanks again for all who has shared. I will say it again, there is just too many good positive things in print that back up what our contacts have shared with us and it is truly over. Just let the budget get officially recorded in the Gazette and then everything else will follow behind.
Happy Easter to all. Blessings, Steve