FIRST OFF, I JUST WANTED TO POST THIS TO REFRESH EVERYONE'S MEMORY THAT THIS INVESTMENT IS STILL GOOD! THERE IS ALOT OF INFORMATION HERE THAT CAN GIVE US TINY CLUES AS HOW THIS INVESTMENT MAY PAN OUT FOR US AND GIVE US CLUES ON WHAT MOVES IRAQ AND THE CBI MIGHT PULL NEXT TO GET US TO THE REVALUATION OF THE IRAQI DINAR.....
ALL THESE ARTICLES ARE FROM 2014 PRESENT UNTIL 2012
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News About The Three Zeros
Unlike political economist on the deletion of zeros from the currency, and experts are putting the decision, however, the central
Sat Sep 20 2014 11:58 | (Voice of Iraq) Counting Economists, on Saturday, the deletion of zeros from the Iraqi currency trend "sensitive and dangerous" in light of the situation, which passes through the country, and while Okdakharon that the process is left to the decision of the CBI for being concerned only in the monetary policy of the country, he stressed deputies in the Parliament on the need to be the process of deletion of zeros techniques and procedures in accordance with the sound. He said the former deputy governor of the Iraqi Central Bank Mazhar Mohammad Saleh in an interview to the (long-Presse), "The time is not ripe for the implementation of the policy of the central bank with regard to the deletion of zeros from the local currency, because this process needs to political and security stability, and Iraq today are exposed to terrorize large and fierce war , "noting that" the process of monetary reform of this magnitude take place in conditions of peace and significant economic growth. " Saleh added that "this issue is sensitive and dangerous and should be avoided, and can be applied at least in the medium term through the next two years." For his part, Undersecretary of the Ministry of Planning Mahdi Keywords in an interview to the (long-Presse), that "this issue is linked to the expertise and advice that enjoyed by the CBI when it decides to delete the zeros." He explained: "It perhaps this trend is not a priority for the central bank during this period," attributing it to "the lack of significant effects for the deletion of zeros on the overall economic activity now." He pointed out that the relationship "This measure is one of the phenomena that must pay attention to it Petrhik display the currency." For his part, President of the Association of Iraqi banks Adnan Chalabi said in an interview to the (long-Presse), "The process of deleting the zeros belonging to the Central Bank of Iraq alone," noting that "this process needs to techniques and technical aspects, we can not interfere with the central bank is alone on this It's because it is monetary policy. " In turn predicted MP Ali Fayad said in an interview to the (long-Presse), that "the coming times may provide a base for building a new economy by changing the currency and delete the zeros of some of them." Fayad confirmed that "This measure will give durability and optimism strongly the Iraqi currency," stressing the need to "be subject to the mechanics and relevant experts in the field of banking and monetary aspects of the economy, and must be accurate so as not to affect the local economy." For his part, former MP Abdul Xiaa Sudanese in an interview with the (long-Presse), said that "it is very important that the current government to delete the zeros from the currency," noting that "the previous government was not able to perform this operation, although it reached its final stages, but fell After that deteriorated the Iraqi currency in 2012. " He pointed out that the Sudanese "the deletion of zeros from the currency needs to stabilize the currency and this is currently available in Iraq." The Finance Committee of the House of Representatives unveiled in the former, (August 15, 2013), the postponement of the process of deletion of zeros from the currency until after the next parliamentary elections, while confirming that the government has demanded guarantees for the non-return of the currency markets and substituted falsified. The CBI emphasized, in the (April 25, 2013), that there is no intention at this time to restructure the currency and deleting three zeros of them, denying the reports in this regard. Referred to the General Secretariat of the Council of Ministers announced (April 12, 2012), wait for the application process to delete the zeros from the national currency, which had to stop all actions relating to the operation mentioned until further notice. It is noteworthy that some economists believe that Iraq is not formatted for the time being to delete the zeros from the dinar, pointing out that the deletion needs to stabilize the political and security as well as stability Alaguetsada.okan CBI confirmed, (in the July 3, 2013) that Iraq is "in control of his money The treasury of gold "in global banks, which of acting out, denying" the existence of frozen funds outside the control of the Iraqi administration, "While revealed that the Bank reserves reached 76 billion dollars in the month of May last year, counting out of Chapter VII that" will allow Iraq's freedom to act to attract more foreign investment. " The International Monetary Fund, announced, in the (March 23, 2013), that the financial balances preventive in the Development Fund for Iraq rose in 2012 to 18 billion dollars, and the cash reserves of the Central Bank of hard currency to 70 billion dollars, and pointed out that this increase came from the "revenue oil unexpected ", called on the Iraqi government to end the control of the state-owned banks on the banking sector, he stressed the need for the strengthening of Iraq's public financial institutions to ensure efficiency and transparency in the use of oil revenues. Predicted USAID, in (December 3, 2012) that leads the Iraqi economy, the Arab countries during the five years, asserting that Iraq possessed all the qualifications to be a strong state Aqtsadia.oihol Iraq for years to attract foreign capital to develop its economy in the fields of industry, especially those related to oil housing and oil and gas extraction, and so need of the funds needed for infrastructure development and reconstruction, but Mariqben assert that lack of interest in the state to the private sector and the absence of investment laws which guarantees large investors and the absence of other laws are still obstacles to the development of the economy in the form required. Depends Iraq, which has the fourth largest oil reserves in the world at 95 percent of its annual budget on its oil exports and currently produces about 2.0009 million barrels a day, while the issue up to 2.0002 million barrels a day. The UN Security Council votes, Thursday (the 27th of June 2013), a unanimous decision to remove Iraq from Chapter VII, after more than two decades of sanctions imposed in the wake of which the invasion of the former regime of Kuwait in the second of August, 1990.
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Experts: Delete the zeros from the dinar increases its strength against the dollar and easy to draw a price policy
Posted: February 23, 2014 in Iraqi Dinar/Politics
02.22.2014
He said experts and specialists in regard the country’s financial The implementation of the project to delete the zeros from the Iraqi dinar will increase the strength against the U.S. dollar, in addition to facilitating the drawing political price in the country, as demanded a parliamentary committee by clicking on the government, “which disrupted the project” to force it to be implemented through texts Constitutional which allows the printing of a new currency, pointing out that the country’s exit from Chapter VII, and to achieve the balance of Iraq’s 76 billion dollars in international banks catalysts to delete the zeros.
The decision of the Commission on Economy and Investment parliamentary Mahma Khalil said in an interview with the “long” The parking Government against activating the decision to delete three zeros from the Iraqi currency under the pretext of fear of counterfeit currency is not justified, especially as the regional climate is ripe after the withdrawal of Iraq from Chapter VII and raced companies Global investment to invest in Iraq.
He added that there is a legitimate action as a means of pressure on a government to force it to retreat from its position, including recourse to the constitutional provisions that allow the printing of a new currency and to address the weakness of the Iraqi dinar against the U.S. dollar as a necessity of economic urgency after that had a balance of Iraq’s sovereign global banks 76 billion dollars.
For his part, said economic expert Majid picture “long” The Central Bank of Iraq in agreement with the Ministry of Finance presented the studies necessary for the process of deletion of zeros since 2008 and has taken all actions relating to the restructuring of the Iraqi currency, including the design of the currency and denominations and the quality of paper used her, who confirmed that from the finest stainless paper cash or difficulty falsified.
He added that the executive branch has decided to postpone the process of restructuring of the Iraqi currency, which led to the cessation of all actions related to this project, explaining that the aim of the restructuring process is to reduce the cost of handling and facilitate transactions handled, especially medium and large as well as to facilitate the draw price policy in the country.
He stressed the need to accompany the process a package of measures distributed responsibility on all departments and state institutions and banks in order to develop solutions to the problems and obstacles that can arise during the process of restructuring, including cash, and accounting, and security as well as take the necessary measures to destroy the currency received canceled.
He pointed out that the experience of Iraq to replace the currency in 2003 was very rich, but did not exceed only change the shape of the currency and replace it, so you do not need accounting requirements or legal, calling for the need to educate departments, banks and citizens feasibility of restructuring the currency as well as the use of modern technologies to detect fraud, also called to the non-interference of politicians and subjecting such decisions to Mazidat and political skirmishes, because that is not in the interest of monetary policy and the Iraqi economy.
Meanwhile, a financial expert, Thamer Alheimus “long” that highlighted the benefits of the deletion of zeros is to create flexibility and ease of trading, and gave the example that in the case of activation of the decision will be coin values of small Kkhmsin fils or less, and under that will highlight the prices between the fourth dinars and half dinars or less, and thus would be unlikely in a large increase in the value of the Iraqi dinar against the U.S. dollar in the case of Sir prudent monetary policy according to which it will contribute to the improvement of household incomes and low-income social strata.
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Deletion of zeros from the Iraqi dinar / Adel owner Ali
11/10/2013
Raised the issue of deletion of zeros from the Iraqi dinar and promoted by the central bank in recent times a lot of talk among professionals about the economic feasibility and its impact on the Iraqi economy, has reported advisers at the central bank that the deletion of zeros will help to alleviate the Event inflation suffered by the Iraqi economy where This action will help to reduce the money supply in the country, which according to them is one of the causes of inflation arguing that the timing is so suitable for the stability of the Iraqi economy, which is experiencing a stable dinar exchange rate against foreign currencies.
Is Xavi on specialists in monetary policy, economists how dangerous this procedure on the Iraqi economy at this time, as the results that are expected to achieve a reduction of inflation do not need to delete the zeros, but you need to development work in the field of the real economy and not a placebo policies cash is a reflection of the reality the real economy, which is production of goods and services and when we want the reduction of limited inflation must look to the productive sectors in the country and help them obtain the salvation of the obstacles they face and live up by the local industry through the provision of support to them in addition to doing codified volume of goods and imported goods through taxes, tariffs, customs and other legislation and laws that guarantee prosperity for all sectors of local industry. We need authorized the reduction of inflation led to deliberate and sustainable development organization for all the real economy based facilities monetary policy and fiscal policy in turn through the coordination between the various policies and development plans.
A lot of concerns surrounding the process of deletion of zeros, if we look at the countries that have done so are the latest countries are Turkey, we find that it has a strong economy and stable and that this process has stages and the most important is the community's understanding of this process in all its details and absorbed for the new currency, but if we do that there are a lot risks and concerns that must be put into consideration, including the possibility of confusing the economic lead to loss of confidence in the Iraqi dinar and the possibility of exchange rate changes in addition to the cost of the new currency and especially that Iraq did not possess Press private, but prints the currency in Britain, not to mention the difficulties related to balancing the state and investment plans debt and equities, bonds and other risks which may be caused by the move.
That the deletion of zeros from the currency is not a treatment, but comes as a necessity when the economy situation of the growth of a continuous and stable full, not stability, they are talking about is the stability of the exchange rate is stable and placebo because it is not based on economic power, when it is the process of removing zeros from the currency is necessary because it helps to coordinate between policy and give plans and clearer more with numbers understandable for all and contribute to the reduction of the money supply and more importantly that this process must be carried out at different stages according to a deliberate plan and that the process is educating for the new currency in all ways and methods to accommodate by the citizen and the investor.
When you take a closer look at the reality of the Iraqi economy, we find that the dependence on oil, primarily the basis for the financing of the state budget, in addition to loans and income from simple, and industrial and agricultural production and other sectors is negligible clear to us is that the so procedure does not achieve any growth of the national economy, but may contribute to reactions affect a negative impact on the general economic situation, and the reduction of limited inflation, a main justification for all this will not be achieved as soon as the deletion of zeros and that this process will not achieve any increase in the purchasing value of the Iraqi dinar frequency in the news lately about the process of deleting three zeros from the Iraqi currency under the pretext of reducing the amount of money in the markets and raise the value of the currency against the global foreign exchange, which reflects positively on the economic situation of the country and the return of Iraqi dinar to its former glory and glory before the first Gulf War
But reduce the amount of money is not a formal is the most effective solution to the problem of inflation and revive the country's economic situation
Who became a yield economy depends mainly on what issued by the country of Petroleum.
But the problem lies in the difference between what is produced locally from goods and imports and work to reduce the madder between exports and imports so that the country produces Ihottagh of food agriculture local available merits of the wealth of water and muck only need to support the government as well as goods manufactured locally, which is produced in neighboring countries, less potential and wealth of material and human resources of Iraq, which is available where all means of development and this step, we have maintained the hard currency of migration out of the country and thus add real value of the Iraqi dinar and create jobs to support the economy and reduce unemployment
It must be noted that there are important steps should be taken before the replacement process, but it spread the culture of the Iraqi individual in how to deal with currency precedent and a new currency on the market and not to be drawn behind the rumors promoted by weakening the souls of beneficiaries that the old currency value
As happened in replacing the current currency after 2003 as well as to be government control of the bankers
The government and private banks and ensure impartiality and non-extortion for the simple citizen against the replacement of the old currency.
Adel owner Ali
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Delay in omission of zeros from Iraqi currency may harm its economy
16 Aug 2013
The lifting of the international sanctions from the Iraq government has taken place recently. This led as a chance for the Iraqi government to reduce the difference between Iraqi dinar and other foreign currencies. There are so many discussions taking place of late and most of the economists favor Iraq to omit zeros from its currencies. The Central Bank of Iraq is looking at this matter with high concern and due to building process of strategies, there are some delays. However, there is a threat that has been clouded around the Iraqi economic scenario, regarding this delay from the end of the Central Bank of Iraq authority. It is assumed that Iraq may lose billions of dollars due to this delay.
Abdul Hussein Al-yasiri, a member of parliamentary Finance Committee, has recently mentioned that lifting of UN sanctions on Iraq has given the country a fair chance to rejuvenate its economy. As the country is receiving high investments from different parts of the world, it is the right time to reconstruct its economic infrastructure and strengthen its economy. For rejuvenating the country’s economy, the first step would be taking the country to a new leap through omitting three zeros from the Iraqi currencies. He also added that it is quite possible to strengthen the Iraqi dinar by raising its value and the present scenario in the country is in favor of that.
He mentioned, “Country’s exit from Chapter VII on the political side, contributed to the liberation of Iraq will on the economic side, give Iraq much room on important issues including banking, on Iraqi and foreign currency trading, as well as investment in Iraq has not been able to attract investment during the previous period.”
He mentioned that there are a few sectors in Iraq which are needed to be developed and have high potentials. Agriculture, tourism, construction, communication, etc. are a few sectors, which have high potentials. However, oil sector is the base of Iraqi economy at present and the nation is building itself, depending on the oil industrial development. As a result, government is also expensing highly on this sector in order to reap out more benefits from this sector of the country.
Mr. Abdul Hussein Al-yasiri also remarked, “The procedures be adopted to increase the value of the dinar currency, requires the Government to pay tribute to all sectors of production and investment to support the local currency.”
Updated 16 Aug 2013 | Soruce: Badr Press | By S.Seal
http://www.iraqdirectory.com/en/2013...s-economy.aspx
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Economic committee member urged CBI to resume the project of deletion of zeros from Iraqi dinars
09 Aug 2013
Parliamentary commission of economy and investment of the Central Bank has been called by Iraq news network, in order to discuss the significance and process of deletion of zeros from the Iraqi currencies. It has to be noted that Iraq has recently got freedom from the sanctions of Chapter VII and according to the economic experts; it is advantageous to make decisions regarding restructuring of Iraqi currency at this moment. As the sanctions have been withdrawn, it is expected that Iraq will gain more business power in the world and will soon become a popular place for business venture.
In the presence of members of the Committee on the economy and investment, MP Khalil mehma stated that the Central Bank should start a currency structure as a purely economic issue. The Attorney pointed out on this issue that Iraqi constitution should be changed accordingly if Iraqi dinar has to be reformatted. He also mentioned that Iraq will be the first country to take this initiative of deleting zeros from its currencies. The government of Iraq has taken some significant steps to build the future of Iraq on the foundation of the foreign investments into the country. Central Bank’s initiative to omit zeros will make the economy of the country stable and certainly will help the investors. Not only that, the common people of Iraq will also be benefitted if such measures take place in near future as this will lead to price stability of the market goods.
MP Khalil also added that the project to omit zeros from the currencies of Iraq was pending due to the obligations of chapter VII. According to him government and the Central Bank of Iraq should rethink on this matter and should take swift measures to strengthen the economy of Iraq. Attorney Abdul Hussein abtan said project delays and the survival of the zeros in the Iraqi currency is reasonable as the Iraqi Central Bank reserves of 76 billion dollars and now dealing in thousands.
In the month of August of last year, the CBI stated that it was then planning on omission of zeros from the Iraqi currencies. The deletion of Iraqi dinar will facilitate financial transactions made through cash. However, there is a bigger challenge in the way of deletion of zeros from the Iraqi currency. Presently, more than 30 trillion dinars circulating in the Iraqi market which have to be discarded and replaced with a new currency. This task would not be easy, as opined by experts and observers.
Updated 09 Aug 2013 | Soruce: AIN | By S.Seal
http://www.iraqdirectory.com/en/2013...qi-dinars.aspx
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Economic Parlimentary we ask is implementing a project to delete the zeros
07/10/2013
BAGHDAD / JD / .. confirmed the parliamentary economic committee in the House of Representatives that the committee demanded that the Central Bank is implementing a project to delete the zeros from the Iraqi currency.
He said the Commission's decision MP economic Mahma Khalil Qassem told / JD / day: that the Central Committee had requested to reconsider the project and for purely economic reasons, is to maintain and improve the Iraqi currency against other currencies.
Khalil explained that this project is an old project was discussed in accordance with the laws in force in the central bank, and now a year after the discussion we see that the time is right, especially after the withdrawal of Iraq from Chapter VII of the revival of this project.
The Iraqi Central Bank estimated Estimated cost of the project to delete the zeros from the currency up to 172 billion dinars ..
She said a special study project to delete the zeros received / JD / copy: The speculative total cost of the project to delete the zeros up to a hundred and seventy-two billion dinars "..
The bank said in the study that the wages of transport and insurance of the role of copyright to the Baghdad International Airport up to (140), calculated on the basis of the ratio between the highest and lowest price (90-189) billion dinars from the presentations made by the companies ..
He added that "Estimated cost Mint coins of the new currency amounting to 16 billion dinars," ..
The bank continued, "The wages of cargo transportation, Fridays and public holidays, overtime, etc. amounting to 15 billion dinars," .. He pointed out that the cost of the media campaign and miscellaneous costs up to (1) billion dinars .. He recalled the bank the cost of the replacement process for the period from 15/10/2003 and the Bank of the reasons for the deletion of zeros, the first being that the process of deletion of zeros will be an opportunity to add new properties of the Iraqi currency to prevent potential counterfeiting of the new currency through the use of specifications of high security, leading to increased customer confidence ( and public institutions) as a result of low or no cases of counterfeiting ..
He pointed out that the second reason that the process of deleting the zeros will reduce Alokiem digital currency and financial Almahacbah and may play to reduce the time, effort and cost required to complete financial transactions and accounting as well as the possibility of reducing the number of banknotes traded especially if it were printed banknotes categories big "..
He said the third reason, it enhances the possibility of maintaining the exchange rate of the Iraqi dinar against foreign currencies earned the confidence of dealers. / End / Mona Fatlawi /
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Banker: any disregard for the challenges of the project will fail and cause big losses
29/04/2013 12:53 AM
Divergence of views on the project to delete the zeros
BAGHDAD - Ann Salah
Central problems and the fluctuation of currency exchange rates and efforts to raise the value of the Iraqi dinar stand again placed the deletion of zeros from the Iraqi dinar and characterized by differing views around between the Finance Committee representative on the one hand and the Central Bank on the other, the former demanding the implementation of the project while the second calls for lingered despite the fact that the administration its predecessor was one of the enthusiasts for this project.
In order to create a state of convergence between the points of view of both sides to be heard other parties relevant was this meeting with us banking expert Abdul Rahman Abdul Salam al-Sheikhli, who spoke of the "morning" about the most important challenges facing the project.
, Shaykhli say there is a legal ambiguity on the subject regard to public بالمديونيات between citizens on the one hand (creditors and debtors) Here we must find a legal settlement to this thread.
As seen Shaykhli that there is fear of currency counterfeiting and this is becoming of things for granted and must deal with this matter as a matter of fact, but he sees no reason to delay the project when taken into account with the development of hedges for it.
He hinted that at first there was a difference in views between the Parliamentary Committee on Finance and the Central Bank which requires finding a case of convergence, but we now see the emergence of a difference of views between the Council of Ministers, which demanded the previous administration to slow down the project and the current view of the same subject with the new administration.
And Shaikhly pointed out that there is a very important topic links between the project and the bound between economic security and political security, which makes the implementation of this project is not appropriate at the present time because of the large differences that beset the country and that must be reflected negatively on the success of the project.
He noted that the project is the cost is considerable financial and burdening the state and the citizen under these conditions the vessels, and believes that to امبرر her present time according to the most important priorities, and reiterated that such a decision is not appropriate in the present time.
The Secretary General of the Council of Ministers has said on a previous occasion that the process of the currency exchange cost 172 billion dinars, the equivalent of almost $ 150 million in order to satisfy the printing expenses, transportation and insurance, in addition to the costs of destruction that the new currency will be in three languages Arabic, English and Kurdish. And cash in circulation now up to 30 trillion dinars (equivalent to U.S. $ 27 billion).
As the economic advisor to the Prime Minister had pointed out that the process cost both institutions (the government and the central bank) and the time and effort is necessary in the present time.
And called Shaykhli to study the experiences of other countries in this area as an experiment, for example, Turkey has had to delete 6 zeros from its currency, but it has taken this decision after it secured a stable significant security was lacking to him.
He said the most important in the whole process he Aaijeri project only after the stability of the exchange rate of the Iraqi dinar relative to other foreign currencies traded in Iraq كالدولار and the euro, adding that work is underway central bank to get to the exchange rate of the dollar against the Iraqi dinar, including not more than one thousand dinars per dollar maximum . banking expert concluded Abdulrahman Shaykhli his speech by saying when conditions are appropriate to look at the project seriously and when the ground is well suited for the success of the project because no ignoring these challenges may fail project and يؤجله the order may not wish to get to him.
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Varied opinions and different views: Politicians: the project to delete the zeros «important; Economists: unimportant
Posted: April 28, 2013 in Iraqi Dinar/Politics
Tags: Central bank, Central Bank Iraq, Currency, exchange rate, Iraq, iraqi, Iraqi dinar, Money laundering
04/27/2013 09:04
Iraqi observer – specialThe project to delete the zeros before long and is applicable of the important projects that work to reduce the volume of currency large circulating in Iraq and that اتخلو of risk in the event did not take a deliberate plan by the central bank
to Ihlolh without impact on the consequences of money laundering and fraud, has stressed member Economic Commission Abdulabas Xiaa the importance of the formation of committees control of all state institutions to pursue the process of destroying the old currency in the implementation of the project to delete the three zeroes from the national currency,
because the project to delete the three zeroes is one of the important projects and sensitive because it is linked to public money, process of implementation should be monitored and accurate to prevent fraud and manipulation and money laundering.
And practical measures to destroy the old currency must be under the control of the House of Representatives and government institutions in the country and with the participation of the media through the formation of committees to control, to prevent tampering and theft by some quarters, and continued:
that the central bank gave a deadline of two years for the process of replacing the old currency currency of a new, has identified the Economic Commission earlier date for the implementation of the project to delete the three zeroes from the currency early this year (2014),
asserting that the Central Bank to develop procedures limit fraud and manipulation that may accompany the process of replacing the currency, and this project ايعد to delete the three zeroes from the Iraqi currency only
but re-structuring currency in terms of reduction of banknotes, and will be the highest category of paper (200) dinars, which is shorthand for the $ (200) thousand dinars, equivalent to (170) dollars. and the central bank will begin its procedures proactive implementation of the project during the current year
Ktba currency and contracting with companies to be after the process of replacing the currency in the beginning of next year, the central bank put strict measures to prevent fraud that may accompany the replacement process,
and the country needs a draft restructuring currency after deleting three zeros from being coming to an expected increase in revenue of Finance in the coming years, it Sechtzel figures and banknotes.
It showed the Economic Commission that the project will include Coins & Stamps, and consists of categories (half JD, JD, JD 5, 10 dinars, 25 dinars, 50 dinars, 100 dinars, 200 dinars), so that the employee if his salary million Vestelm thousand dinars, five categories of paper of class (200) dinars, stressing that this process will facilitate a lot of things fiscal and monetary.
Observers believe economists that the draft of the new currency would not change a thing of the purchasing power of the Iraqi dinar and its effects are limited to organizational matters and reduce the size of the Currency massive rolling in Iraq.,
As well as stop the cycle of the Iraqi economy, which is one of the most important challenges facing policy makers in developing countries in general and Iraq in particular,
which means the use of the U.S. dollar or any foreign currency has a capacity replacement of the national currency in transactions and contracts internal financial and counted a store of value at the same time.
either positive second will be through reducing inflation rates Balamd average, which include raising the external value of the Iraqi dinar (ie, the nominal exchange rate) in a manner commensurate with the real exchange rate to contain inflationary expectations,
taking into consideration the trends apparent inflationary and the level of acceptance and availability of reserves inflationary and the level of acceptance and availability of international reserves at the Central Bank of Iraq
and a way inhibits inflationary expectations and reducing the speed of circulation coins , the deleting three zeros means converting 30 trillion dinars to 30 billion dollars by deleting three zeros from the current currency and replace it with a new currency.
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Iraqi Central Bank: No intentions to strike out zeros from the currency
26-04-2013 - 13:00
Business
Editor: Ghassan Hamed
Iraqi Central Bank expressed on Thursday that it does not intend to restructure Iraqi currency of strike out the three zeros, denying any news pertaining to Iraqi Dinar redenomination .
“Some media stations reported statements that the Central Bank was thinking about restructuring the Iraqi currency and striking out the three zeros”, said the bank in a statement of which Alsumaria got a copy. It added “the Bank, considered to be the only authority or reference to make such statement, points out that we have no intention to restructure currency or strike zeros out”.
Local news stations have reported a few days before that currency restructuring and removing zeros will soon take place considering that this will lead to promoting currency exchange and international economic transactions, in a new development on the Iraqi currency forefront.
The general secretariat of the cabinet announced on April 12 that it will carefully reconsider striking out zeros which entails suspending all monetary activity until further notice.
Some economy experts consider that Iraq is not ready at the time for striking out the zeros from the Dinar, pointing out that such operation required security, political and economic stability.
Deputy: the need to control the formation of committees to destroy the old currency in the implementation of the project to delete the three zeroes
25-04-2013 12:27 PM
Baghdad (news) .. Stressed member of the Economic Commission MP / National Alliance / Abdulabas the Xiaa, the importance of the formation of the supervisory committees of all state institutions to pursue the process of destroying the old currency in the implementation of the project to delete the three zeroes from the national currency.
And said Xiaa (of the Agency news): The project to delete the three zeroes is one of the important projects and sensitive because it is linked with public money, its implementation process must be monitored and accurate to prevent fraud and manipulation and money laundering.
He explained: that practical measures to destroy the old currency must be under the control of the House of Representatives and government institutions in the country and with the participation of the media during the formation of committees to control, to prevent tampering and theft by some quarters.
He added: that the central bank gave a deadline of two years for the process of replacing the old currency currency deleted them zeros, to be handled together, that is the process of absorption of the old currency from the market so did not feel the citizen. / End / 8.'s. M /
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Economic center: the success of the project to delete the three zeroes depends on the stability of the exchange rate of the dinar against the dollar
Agency news - 04/21/2013 - 12:45 pm
Baghdad (news) .. Head of the Media Center said the economic Dergham Mohammed Ali, that the success of the implementation of the project to delete the three zeroes from the national currency depends on the stability of the exchange rate of the dinar against the dollar and educate citizens and give them enough time to replace the currency.
Muhammad Ali said (of the Agency news): The economic reality of the past year and the previous one was better poised to receive the decision to delete the zeros through the market is unable to absorb its effects because of the high stability, which was dominated by the exchange rate of the dinar against the dollar at the time.
He continued: While the market has become more sensitive and broader change than it was a Mitrah question the reasons for the postponement of this decision, but the implementation is still possible in the event of education in a positive way and give long enough to bring a replacement span for two years as planned during which the currency traded zero and currency Deleted zeros.
He added: that the central bank demands to confirm the unit value between the two currencies and start substitution out for the new currency and ادارجها within the trade and the rule of replacement controls strict and controlled high in order to prevent money laundering, and control strictly operations splurge of the coin ancient This allows the switch smoothly and safe.
He stressed: the need for the central bank to focus on his tools to re-dinar exchange rate to the target levels, the successful implementation of the project. / End / 8.'s. M /
Economic Parliamentary: Delete the three zeroes from the currency will not see the light after the dismissal of Shabibi
Wednesday, 17 April / May 2013 16:50
Twilight News / ruled out the decision of the Economic Committee in the House of Representatives Mahma Khalil, Wednesday, that is to delete the three zeroes from the currency of Iraq over the next year, returned to the changes, which affected the CBI may prevent the process of restructuring the national currency, as well as having a previous request to the government to wait In the beginning the currency exchange procedures.
He was a member of the Finance Committee parliamentary Abdul Hussein al-Yassiri had announced, earlier, that the central bank and according to official communications of the current year starts procedures for deleting three zeros from the local currency, stressing that it would lead to the development of cash transactions and international economic.
Khalil said in an interview with "Twilight News", that "the project to delete three zeros from the Iraqi currency had arrived from the Central Bank of the parliamentary economic committee earlier."
However, Khalil said that "the Iraqi government has asked to wait to begin the project under false pretenses, although the application and currency restructuring is purely economic projects as well as it contributes to the safety of the national currency."
He believes that "the policy of the central bank policy today is unsuccessful, did not succeed in lifting the siege of the Iraqi dinar, and the issue of the currency exchange as she could not keep the hard currency within the environment of Iraq."
He described the decision of the Economic Committee that "the interest of Iraq to conduct restructuring of the Iraqi currency and delete the three zeroes, which is a vital economic project and to keep the currency from counterfeiting and damage."
According to Khalil, the "There are international companies giant has a desire to implement this project, and sent appliances for this purpose for Iraq," noting that "Iraq is not the only country that is restructuring its currency national, has preceded us Turkey so, as there are many countries that its economy Exhausted the structuring of its national currency. "
He pointed out that "the printed forms of the new currency (after deleting three zeros) include half a dinar and five dinars and ten dinars, 25 and 50 dinars, and the parameters of the country and its culture," noting that "if the deletion of zeros, the value of the dinar per be equal one dollar or so."
And on the possibility to witness the next year, the birth of the new Iraqi currency, Khalil said, "We serve as the economic and the central bank is linked with us, we demanded from the bank to keep this project exists," but he also said, "The government asked to wait, and I think that what happened on the Central Bank of the changes and the appointment of New Acting Governor means that this project will not even see the light in the coming year as well. "
The Iraqi government has decided to end of October last year, set the head of the Office of Financial Supervision Abdul Basit Turki, rather than Shabibi article the former government's decision, after criticism by the parliamentary Finance Committee relating to the mismanagement of funds and addressed to Alshabibi and other bankers officials.
The CBI had said in August that it plans to delete the zeros from the Iraqi dinar to facilitate financial transactions carried out through cash in most cases.
Among the difficulties faced by Iraq if they are to foot on the deletion of zeros from the dinar is pulling about 30 trillion dinars in circulation in the Iraqi market now, then get rid of them and replace them with a new currency.
The Finance Ministry has ruled out earlier in the deletion of zeros from the local currency in 2013 because the budget is calculated in current currency.
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http://translate.google.com/translat...-13-55-00.html
Three zeros to be cancelled from Iraqi currency, says MP
16 Apr 2013
Parliamentary Finance Commission MP stated that the Central Bank of Iraq will soon cancel the zeros from the Iraqi currency. MP Abdul Hussein al-Yassiri revealed that it will happen by this as the Central Bank of Iraq is taking all necessary steps to convert this plan into reality.
He adds that the commission is in favor of Central Bank of Iraq with this decision as this will bring significant changes in the Iraqi economy. It is to be noted that earlier Central Bank reported that cancelling out zeros from Iraqi currency is under planning of the Bank.
The prime difficulty will be - is withdrawing 30 trillion dinars from the Iraqi market at the present time which will be replaced by new currency.
Previously the decision of eliminating zeros from Iraqi currency was not ratified by ministry of finance as the budget was done with the present currency.
Updated 16 Apr 2013 | Soruce: Aswat Al Iraq | By S.Seal
http://www.iraqdirectory.com/en/2013...y-says-mp.aspx
Why means delete the Iraq 3 zeros from the Iraqi dinar?
17-04-2013 | (Voice of Iraq)
A. D. Mohamed Ibrahim Saka
According to "CNN" announced the Finance Committee in the Iraqi Parliament that the central bank will begin in the current year by deleting three zeros from the local currency, in other words that the currency unit class A dinars from the old currency will be replaced dinar and only one of the new currency, and so on.
Move the oldest by Iraq intended to reform the system of local currency which is based on the use of currency denominations are too high, which leads to difficulties in dealing in special accounts transactions, as well as higher prices resulting from the use of monetary units categories are high, which leads to a decline in the rate Exchange rates and lower purchasing power of the dinar in a big way.
In periods of turmoil cash and declining public revenues of the state at a time when increasing the expenditures, resort states often to print more of its currency, leading to higher prices and the occurrence of high inflation, arise the need to currencies with classes as high as one thousand and one hundred thousand and one million ... Etc.. With each increase in the categories currency enters the economy in the midst of inflation.
One way to control the high inflation is a monetary reform, combined with a change in monetary policy by replacing the old currency Pfiadtha high with new categories of currency even lower prices tend to decline. But does he have on inflation? The answer is no, because the elimination of inflation state is required to follow a moderate monetary policy.
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Abbasn sheyaa: Central Bank establish procedures to prevent fraud at the changeover after deleting three zeros from
17-04-20 13 07:16 AM
Baghdad (newsletter). Detection of economy and Investment Committee member MP//-abbasn sheyaa, the date of implementation of the project to delete the three zeros from the currency early this year (2014), stressing that the Central Bank measures to limit fraud and manipulation that may accompany the Exchange process.
Said sheyaa (News Agency): the project is to delete three zeros of the Iraqi currency, but return to the currency structure of shorthand notes, stating that the paper will be the highest category (200) and is shorthand for the amount of 200 thousand dinars, the equivalent of 170 dollars.
He added that the Central Bank would begin with proactive project implementation procedures during the current year as printed currency and hiring companies to be the replacement currency early next year, pointing out that the Central Bank put strict procedures to prevent fraud that may accompany the replacement process.
He noted that the country needed to draft restructuring currency after deleting three zeros from being kissed on the expected increase in financial revenues in the coming years this would numbers and banknotes.
The project will include: coins & stamps, consisting of classes (half a dinar, dinar, JD, JD 10, 25, 50, 100, 200), so that the employee if his million it received a five classes of the pap