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Pictures .. 50 thousand new category dinars in Iraqi currency

 11/12/2015 14:31
 
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Photo category 50 thousand new dinars in Iraqi currency.



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I believe these actions will have a significant effect on the CBI and give it back it's independence!

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Keywords: central bank independence is a prerequisite to enable it to achieve its monetary policy

Tuesday July 7th 2015






Court's decision is of great importance because of its impact in promoting and supporting the independence of the Central Bank and its dimensions to influence policies and decisions. This independence is not a matter of form but is the basis of the requirement to enable the central bank to achieve its tasks, particularly in monetary policy by the diversity of nature on the tools and flexibility orientations.

Qurtas News / Baghdad

Between the Governor of the Central Bank on the Keywords, Tuesday, that the Federal Supreme Court's decision to accept the appeal submitted by the Central Bank in the materials, which included limitations and orders to the bank, came accordance with the Constitution and the law of the bank.

Keywords and said in a statement to "Qurtas News" that "the court's decision is a great importance because of its impact in promoting and supporting the independence of the Central Bank and its dimensions to influence policies and decisions, this independence is not a matter of form but is the basis of the requirement to enable the central bank to achieve its tasks, particularly in the monetary policy based on the diversity of nature, tools and flexibility orientations ".

He added that "the general budget law governing fiscal policy in spending and annual revenue which is necessary to be specific to the items contained in it by virtue of the nature of the resource and expenditure management, while monetary policy is totally different from fiscal policy, where the nature of movement, flexibility, dealing with changes in the situation economic and market conditions and did not get in the countries where the market tracking system to be budget specific, directed and constrained by the policy of the central bank law, or even in the other because it loses the central bank's role and took away his tools used to create balance and access to achieve the goals that move the market movement and the economic situation and cases of inflation The recession, etc., and these movements occur on an ongoing basis and sometimes daily, and the law applies the law of the budget for the year, making it a real limitations and restrictions tied monetary policy and this reverse their role and nature.

He continued that "foreign currency sales (the dollar) is not an option of choice, and it is not a commercial operation or coverage of the activities of trade, it is in the Iraqi situation and as it is in countries that control the export and the monopoly of foreign currency by the nature of their resources, oil such as States, is the process of replacing the dinar Iraqi existing trading in the dollar, in order to provide the Ministry of Finance dinar against the dollar, which is received by oil sales, which do not need, but you need to the Iraqi dinar to finance the general budget. "

He explained that "determining the dollar means sales ceiling of result determine the amount of the taxpayer dinar general budget, in the case specifically taking, as stated in the General Budget Law, means a shortage and a large decrease in the amount required to cover the budget expenditures of the dinar, if the central bank sold $ 75 million a day, as contained in the budget law, it means that the central bank will sell annually the equivalent of 22 trillion dinars, almost, while operating expenses (JD) about 70 trillion dinars, this fact is clear to many who call invitations determine the dollar sales ceiling, as well as for lack of awareness of the role of the central bank and its mission to stabilize the exchange rate and public prices, which require high and continuous flexibility in the quantities sold by the bank, because there is a big difference in the exchange rate between the official rate and the parallel market price is paid by the citizen and the economy, investment and hurt huge profits in the pockets of greedy and malicious, and it can not curb all this only to control the quantities beyond a shadow of those dangerous phenomena. "


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Under the Federal Supreme Court declared unconstitutional a number of budget items in 2015

Mon, July 6, 2015 12:07

Under the Federal Supreme Court declared unconstitutional a number of budget items in 2015

BAGHDAD / Baghdadi News / ... Federal Supreme Court decided, on Monday, ruling unconstitutional a number of materials for the federal budget in 2015, stressing that the legislation was contrary to the contexts provided for in the Constitution.

The judge said Abdul Sattar Bayrakdar the official spokesman for the federal judiciary, in a statement received / Baghdadi News / copy of it, "the Federal Supreme Court held its plenary considered Monday appeals against the constitutionality of a number of federal budget materials for 2015 made by both the Prime Minister The Governor of the Central Bank in addition to Ozivtma ".

Bayraktar said that "the challenged her articles are: Article (4) and Article (13/1 / c, e, f, g) and Article 41 and Article 46 and Article 47 and Article (49/2) and Article 50 and Article (55) of the Act, and asked the referee to raise cigarettes a deficit of Article (33 / A), which states (and 300% on cigarettes and alcoholic beverages). "

"As I looked stabbed another in the article 43 of the same law made by the Prime Minister and the Minister of Industry and Minerals in addition to Ozivthma".

He explained that "the court found that these materials were not present at the origin of the sender of the project from the government to the House of Representatives."

Bayrakdar and added that he "decided to rule the unconstitutionality of these materials; because the House of Representatives has Pthariaha without returning to the government to take its approval of the project or return them for the purpose of considering the proposals."

It was to be "the resolution stressed that the preparation of the budget is the prerogative of the Council of Ministers and in accordance with the principle of the separation of powers provided for in Article 47 of the Constitution."

Bayrakdar and that "the court's decision was consistent with Article 80 / I of the Constitution which provides for the competence of the Council of Ministers in the planning and implementation of public policy of the state, public plans, and supervising the work of ministries and departments not associated with the Ministry."

Fuller said, "The decision came in line also with Article 110 of the Constitution which granted federal authorities the power to draw financial policy, and customs, and issuing currency, organizing trade policy among regions and provinces in Iraq, and the development of the state budget, and formulating monetary policy and the establishment of the Central Bank, and his administration ". It ended 21 / b

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The Federal Supreme Court decides the unconstitutionality of Article 43 of the 2015 budget for granting brand

Mon, July 6, 2015 13:02
The Federal Supreme Court decides the unconstitutionality of Article 43 of the 2015 budget for granting brand

BAGHDAD / Baghdadi News / ... Federal Supreme Court decided, on Monday, ruling unconstitutional Article 43 of the own brand of the general budget, stressing that the legislation was unconstitutional format.

The judge said Abdul Sattar Bayrakdar the official spokesman for the federal judiciary that "the Federal Supreme Court heard an appeal in Article 43 of the brand for granting budget."

Bayraktar said that "the appeal made by the Prime Minister and the Minister of Industry and Minerals in addition to Ozivthma."

He explained that "the court found that the article were not present at the origin of the sender of the project from the government to the House of Representatives."

Bayrakdar and added that he "decided to rule unconstitutional article; because the House of Representatives has Pthariaha without returning to the government to take its approval of the project or return them for the purpose of considering the proposals."

It was to be "the resolution stressed that the preparation of the budget is the prerogative of the Council of Ministers and in accordance with the principle of the separation of powers provided for in Article 47 of the Constitution."

Bayrakdar and that "the court's decision was consistent with Article 80 / I of the Constitution which provides for the competence of the Council of Ministers in the planning and implementation of public policy of the state, public plans, and supervising the work of ministries and departments not associated with the Ministry."

Fuller said, "The decision came in line also with Article 110 of the Constitution which granted federal authorities the power to draw financial policy, and customs, and issuing currency, organizing trade policy among regions and provinces in Iraq, and the development of the state budget, and formulating monetary policy and the establishment of the Central Bank, and his administration ". It ended 21 / b

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Central Bank pays tribute to the Federal Court's decision to cancel all materials relating to his duties

Monday, July 6, 2015 12:33



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Alsumaria News / Baghdad
Praised the central bank, on Monday, the Federal Court's decision to cancel all materials related to his duties.

The governor of the bank and the agency on the Keywords in a statement, received Alsumaria News , a copy of it, that "the decision of the Federal Supreme Court judge today to accept the appeal submitted on behalf of the Central Bank of Iraq is of great significance. "

Keywords and added that "the challenge will cancel all the articles added by the House of Representatives at the federal budget with respect to the functions of the Central Bank of Iraq Law".



The Federal Supreme Court decided on Monday (July 5, 2015) ruling unconstitutional a number of materials for the federal budget in 2015, stressing that the legislation was contrary to the contexts provided for in the Constitution.

The Article 50 of the Budget Law for the current year 2015 included a condition or restriction within one of its articles, which should not exceed the sale of the bank conducted by more than 75 million dollars a day auction.


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Economic adviser to the servants, the central bank must find a realistic price for the price of the dinar exchange Intasp with oil prices

  2015/6/27 12:37 
Economic adviser to the servants, the central bank must find a realistic price for the price of the dinar exchange Intasp with oil prices
{Baghdad: Euphrates News} stressed economic adviser to Prime Minister appearance of Mohammed Saleh, said Saturday the need to unify the exchange rate between the central bank and the price that deals with people in the market, and make it pricier one actually commensurate with the oil and economic conditions austerity sale and the defense of this price volatility price .

He said Saleh told {Euphrates News} "The Iraqi dinar exchange rate is the same as the external value of the national currency, the value of money and this value is important to relate to the external sector, because most goods and products are less obtrusive and we got to the point Import services also including medical, legal and consultancy as well as import Goods, explaining that "the volatility of the exchange rate in favor of the dollar and foreign currency taken from the rights of citizens and affect the income and wealth and hits the standard of living."

He added that "monetary policy is working for the stability of the national currency and to address the volatility," stressing that "the problem of Iraq today reduced the price of a barrel of oil, which depends upon the country in obtaining hard currency, which lost more than 50% of the value of exports and foreign currency," noting that "With the decline in the value of exports remained high value imports, and therefore there is the current account deficit."

He noted that "the administrative and financial operations in general affected the exchange rate and the decreased value of the dinar against the dollar", calling for "non-interference to the work of the Central Bank", noting that "the central bank must find a realistic price for the exchange rate Intasp with the economic situation and the defending state this price, and the market and the central bank at a price of one, and that the price difference does not exceed 2%, explaining that "if the desire of the state to improve the value of the Iraqi dinar, it is with the economy improves conditions in the country."

"The big difference at the exchange rate of the Iraqi dinar against the dollar between the central bank and the market is leading to a loss for the country and the Central Bank", stressing that the monetary policy should put the price of one, and that the proportion of this price with the price of a barrel of oil, which is sold at about $ 60, not $ 110 and commensurate with the balance of payments deficit and not its austerity budget surplus and with the conditions, and this is decided by the central bank to move away from conflicts. "

The exchange rate of the Iraqi dinar exposure to Amadarapat during the last period and a large rise in record time, prompting cell crisis to agree to the proposal of the Central Bank to cancel 8% of customs and excise tax imposed on the purchase of the dollar.  The Governor of the Central Bank of Iraq and the Agency on the Keywords confirmed the absence of fear of the rise in the dollar's exchange rate against the Iraqi dinar, revealing the "Ask a local bonds worth $ 5 billion; to provide liquidity to the state."

Keywords and he said in Baghdad that the news conference "the central bank has foreign currency is the weakness of the local currency in the market, and what happened in the past few days indicates that these attempts involve the kind of speculation and profit-taking may also involve other targets do not want to enter into details; Because this increase is certainly within the indicators it is natural, but is this Mahalaot stand the central bank policy? It is certainly both emergency on the market ".

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CBI: 50 thousand dinars currency to will be issued at the end of the year

Saturday, 20 June 2015 12:49

Shafaq News / The Central Bank of Iraq (CBI) announced on Saturday that 50 000 dinars of local currency will be issued at the end of this year,

while revealed its request to wait for the issuance of 100 000 dinars currency.

The Governor of CBI said in a joint press conference with the President of the banks Union Wadee Hanthal that "the bank will  issue the currency of the higher category, as this subject has been studied from all dimensions."

Al-Alaq added that " the announcement of printing the 50 thousand dinars currency might be at the end of the year," noting that "the 100 000 dinars currency will be released in another time and asked to delay it in order to avoid the occurrence of any inflation


http://english.shafaaq.com/business/14827-cbi-50-thousand-dinars-currency-to-will-be-issued-at-the-end-of-the-year.html

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Appearance in favor of calling for legislation law defines the transfer of funds abroad

Author: Publisher on: June 21, 2015

BAGHDAD / Center Brief for

Appearance in favor of calling for legislation law defines the transfer of funds abroad

the Iraqi Media Network (IMN) - Economic Adviser to the Prime Minister called on the appearance of Mohammed Saleh, to enact a law to limit the transfer of funds out of the country, pointing out that Iraq faces the problem of transferring funds abroad.

And between Saleh's (IMN) that "some depositors citizens their capital in banks began shifting their money to banks outside of Iraq under the pretext of its investment or implementation of projects in other countries."

The federal government confirmed last week that the market speculation on the foreign currency will not affect the Iraqi economy as a whole, pointing out that the Iraqi market is one of the free markets will not be affected by the price of the dollar exchange speculation.

From: Star Gazan, edit: Laith Mohammad Reza


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Parliamentary investment: Governor of the Central Bank is not a cause deterioration of the local currency

Parliamentary investment: Governor of the Central Bank is not a cause deterioration of the local currency

Author: Publisher on: June 21, 2015 In: economy Views: 54 views

BAGHDAD / Center Brief for the Iraqi Media Network (IMN) - described member of the Committee of Economy and Investment parliamentary Najiba Najib Bank Iraqi Center as "good", be excluded that the governor of the bank on the Keywords cause of the deterioration of the local currency.

She said Najib's (IMN) "The security and economic conditions and the deterioration of the price of a barrel of oil on world markets has forced the central bank to take a series of austerity measures caused disorder dinar exchange rate against the dollar in the local markets."

She said "management on the Keywords as governor of the Central Bank is not a reason depreciation of the dinar against the US dollar," indicating that "the Bank urgent action to the steadfastness of the Iraqi dinar exchange rate against the dollar, including the supplement market in hard currency and reduce the length of foreign deposits from 10 to 5 days adopted, as well as Authority for the customs and tax administration and tax fulfillment of their secretariats. "

And it accused the political and economic management of several parties to the central bank governor to "poor management" for taking action led to the rise in the dollar's exchange rate against the Iraqi dinar.

The local markets saw a few days before rising US dollar exchange rates against the Iraqi dinar, as the dollar value of 1400 Iraqi dinars.

From: Dreams Radi, edit: Ali Al-Shammari

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Central Bank directed to pay deposits of citizens "in dollars, not dinars"

Central Bank directed to pay deposits of citizens "in dollars, not dinars"

 June 20, 2015 

BAGHDAD / Center Brief for the Iraqi Media Network (IMN) - Economic expert on behalf of Jamil Anton said the central bank has directed that all banks to pay deposits of citizens in dollars and not in Iraqi dinars.

He added Anton's (IMN) that "the orders issued by the Central Bank that depositors dollar citizens pulling their money in dollars and can not give them irreplaceable in Iraqi dinars, because the currency rate differs within the bank and outside," noting that "the bank when let loose deposits of citizens be at a reduced price 1200 up outside the bank, while up to 1,400 during the past few days. "

Anton explained that "Action taken by the central bank to raise the proportion of 8% of the income tax and fees at the present time come for the benefit of the country so that the compression process resulting from the rise of the dollar exchange rate in recent stop."

And the expert that "the central bank took measures have led to a marked decline in the dollar exchange rate due to the sale of high quantities of the dollar after it was selling 75 million Dollars under Article 50 of the instructions and the budget and reached 203 in last Thursday.

Anton pointed out that "coordination between fiscal and monetary policy in Iraq and take important measures will mitigate the rise in the dollar as well as a reserve nearly 68 billion dollars in the Central Bank, explaining that it" factors leading to thwart the scheme, which sought the black powers to lift the dollar and the creation of cramps in the local markets.

From: Hussam Shehab, edit: Mohammed Saleem

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CBI: There is a common position with the banks to maintain the exchange rate stability

Saturday, 20 June 2015 12:32

Shafaq News / The Central Bank of Iraq ( CBI ) confirmed on Saturday the presence of a unified position and coordination between it and the civil

and government banks to maintain the exchange rate stability in the country.

The Governor of CBI , Ali al-Alaq said in a joint press conference with the President of banks Union , Wadee Hanthal that "there is a united stand between us and the banks in the steps and putting ways of understanding to maintain stability for the price."

Ali added that "the general trend of CBI is to simplify procedures in buying and selling the currency", but he also said that "this does not mean that the Bank becomes a substitute for the failure and the shortage which may happen sometimes."

http://english.shafaaq.com/business/14825-cbi-there-is-a-common-position-with-the-banks-to-maintain-the-exchange-rate-stability.html


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Current central bank problems as a result of the loss of independence
مشاكل البنك المركزي الحالية نتيجة لفقدان استقلاليته

Friday 19th June 2015

Sinan Mohammed Rida al-Shibibi -

Iraqi money market live in the present state of instability was the collapse of the market rate of the dinar, which amounted to 1340 dinars to the US dollar while the official price of about 1190 dinars to the dollar, although the size of the reserve is still great, which is considered a key factor in the stability of the currency.

The reason is due to this difference between the two prices to enter ministries (Finance) and other parties (House of Representatives) and Amlaihm policies and terms were not unrelated to monetary policy, and not the central bank's ability to defend his advisers about the bank by law.

The problem at present is that students have to pay a conversion secretariat equivalent to a certain percentage of taxes and customs when buying the dollar and at the request of the Ministry of Finance, and this is an important factor in the rise in the dollar price. These conditions have served the Ministry of Finance, but the principle that the purchase of foreign currency and selling it must be done fast and smooth and without any obstacles (except banking conditions and a commitment to capital) because the rapid movement of cash, and if there is a need for the central bank to take advantage of foreign currency sale for development was better to use it in the development process of bank credit, if given preference in the auction of the bank, who leads in the banking its credit.

So there is the intervention of the Ministry of Finance in the work of the central bank. This intervention is designed to collect the financial resources of the Ministry of nothing to do with monetary policy, although the central bank is that the collection of these resources. In other words, the central bank is the one who collects these resources for the Ministry of Finance. As the budget included the central bank to buy Treasury bonds and remittances to $ 6 billion and reduce the percentage of legal reserve held by banks at the Central Bank in half to provide budget resources. The seriousness of these measures GOES to reduce the effectiveness of monetary policy in the fight against inflation. Therefore, on the fiscal and monetary authorities to assess what you get compared to inflation of resources and instability, which can be a cause for the collapse in the real rate of the dinar.

Also restrict the sale by the House of Representatives means interference in the work of Parliament's central bank. Common among among economists and parliamentarians that the central bank continued to the House of Representatives, and this is a big mistake of the Central Bank is responsible to the House of Representatives and not subordinate to him, and here the Central Bank is no different from the rest of the ministries, but this responsibility (the responsibility of the central bank) explicitly mentioned in the Constitution.

Thus, the central bank has lost its independence and became a bow to the decisions of the government and parliament. The correct method is to put forward ideas as proposals in the House of Representatives and then be voted upon.

The government and parliament policies, and particularly in determining sales, led to a duplication of the exchange rate deceived enriched black market and some of them used by others in other funding terrorism may be one of them.

Loss of autonomy has several caveats most important that the central bank will be subject to the instructions of the government, which will be reflected in the Bank's policies and therefore, the central bank will not be able to adopt the goal of reducing inflation in earnest. To make matters worse, that government spending is inherently inflationary result of the delay in the implementation of projects.

And loss of independence would lead to the creditors to look to the central bank's money as government funds, becomes a target for creditors, and this is an important issue should be discussed with creditors and lawyers Iraq.

The loss of independence means that the central bank to adopt monetary policies in line with the policy of the government, but the government's policies may not fit with the Central Bank Law. In other words, it does not focus on the fight against inflation does not give due importance to the goal of economic stability.

The imposition of a financial nature policies on the central bank should be the subject of study and coordination by government and parliamentary bodies. The central bank has weakened administratively from the government, and often tried to governments to impose its policies on the central bank, including the former prime minister tried to borrow from the central bank which was rejected because the bank law prevents him from it, and ended up the attack on the central bank and the arrest of many of the finest staff .

One manifestation of overtaking on independence is to waive it on the Central Bank reserves. Some repeating that this could be justified because the reserve exceeds the currency in circulation and in bank one and a half times. These justifications for the government to gradually dominate the central bank resources. The economy - such as the Iraqi economy - largely open on the outside needs to be significant resources to compensate for the results of any crisis, and if they are borrowing from the central bank would respond when will this money? What is the capacity owned by the bank towards the government to recover the money that?.

The bubble and the high price of the dollar is a result of the policy of the government and the House of Representatives and it ought to be to remove obstacles for the foreign exchange market where you should not be given greater importance of fiscal policy, monetary policy is determine the exchange rate and help to manage the money and functions.

The central bank does not lend to the government but it helps the economy as a whole through price stability and credit regulation and supervision of the banking and financial sector regulation and payments and maintaining the country's reserve. Lama speak much echoed by the government and the Finance Committee in the House of Representatives on "foreign currency auction", this auction is a monetary policy which pulls dinars from the market and bought by foreign currency and here Thread ends for the central bank, we have a cash discharge process direct and simple. And if there is no import of "auction" For parliamentarians to inquire about the reasons for this in the customs or the Ministry of Commerce import process does not fall within the monetary process. That the central bank must be matched each dollar demand and this is one of the fundamentals of price stability as the demand that has not saturated by the bank will go and creates another market prices and the other, which is contrary to the central bank law and creates a state of economic instability.

I chose the Finance Committee put an upper limit on the sale of foreign currency (75 million dollars a day) thereby contributing to instability in and create multiple exchange rates for real because the demand was higher. In any case, this request does not ask about the central bank, but ask for all sectors of the economy, why the Finance Committee in the Parliament and practiced legislation and supervision question to sectors of the economy which are supervised by and to the private sector, especially not go and it's supposed to meet all corners of the economy. We do not doubt that there are irregularities, which requires follow-up with the relevant commercial banks, but we stress that the central bank is in front of the discharge process, but not cash, either by the imports is outside the scope of work of the Central Bank.

On the other hand the money to go abroad because the state did not provide suitable opportunities to invest at home. Also, a section of which is a kind of external savings (within the concept of the national accounts of a country) will return to Iraq in appropriate circumstances that must be provided by the State. As for the extra money must be sure of their sources and legitimacy of the banks and the circles in which anti-money laundering that should be strengthened, the majority of sources may be derived from money laundering or simply that the subject is big operations out of capital.

We must not forget that Iraq falls within the group of countries which are in transition from totalitarian regimes to open democratic systems provide the free economy. This group of countries undergoing many changes in the economy opens up (as states formerly the Soviet Union), but a lot of these countries, its economy was characterized by the transfer of capital abroad. In the case of Iraq also encourages this transition because of the conditions of violence and instability experienced by the country. This situation may explain the large amounts that are being converted to Aforeig.anha go abroad in order to spare, then we are in front of the case of capital flight and not smuggled. The situation in Iraq at the present time encourage capital flight, and if it does not allow for capital that moves the dollar exchange rate in the market will rise significantly hampering economic decision-making.

Iraq has not yet become a safe place brings investment, we need large national efforts to ensure stability and attract investment.

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It charges the central bank to stand behind the rise in the dollar and the latter denies and vows to speculators

15/06/2015 17:29
Long-Presse / Baghdad

Government is the rise in the dollar to stimulate national production positive indicator
Finance Committee promised in the Iraqi parliament, on Monday, that many of the question marks are raised on the outcome of the Iraqi Central Bank action to stop the deterioration of the value of the dinar against the dollar, while the economic and investment commission parliamentary felt that many of the economic crisis solution is to amend that Bank (law) sic, so as to ensure independence from the government, and carry Bankers "abuse" the central bank responsibility for a stronger dollar, despite the latter denied this and accused them of responsibility and speculators, and vowing to "dissuasive measures"

The local market is witnessing a steady rise daily to the dollar exchange rate against the dinar, the impact on the movement and reflected negatively on citizens, particularly low-income.

Finance Committee: question marks on the central bank to stop the deterioration of the dinar procedures

Says a member of the Parliamentary Finance Committee, Majida al-Tamimi, in an interview to the (long-Presse), "The rise in the dollar exchange rate against the dinar, is due to reduce the central bank from sales, as well as increasing demand from citizens and the recent special procedures deductions of tax and customs from the merchants" , loaded with "the Central Bank of Iraq first and last responsibility to maintain the value of the dinar and the lack of deterioration against the dollar."

It adds Tamimi, that "the Central Bank of Iraq has taken a number measures to counter the decline in value of the dinar, but the results did not show on the surface so far indicates many question them signs," indicating that "the central bank issuing coins and paper from large groups Kalkhmsin or hundred thousand dinars , it may lead to a reduction of the dollar exchange rate against the dinar, because of the ease to carry and be stored and traded, within the framework of actions aimed to revive the domestic market. "

Committee the economy: the dollar will not solve the crisis but to amend the central bank law

Says a member of the economic and investment commission parliamentary Nora Albjara, in an interview to the (long-Presse), "The high price of the dollar crisis will not be resolved until after the amendment of the Central Bank of Iraq Law No. 94 of 2004 in harmony with the current stage", usually that "the law is a big part of the market crisis, especially with the rise of the dollar against the dinar, as well as financial liquidity. "

Albjara explains that "the economic and investment commission supports cooperation with the Finance Committee, the amendment of the Central Bank Law," pointing out that "the new draft law to the Central Bank currently exist in the State Consultative Council, in preparation for consideration by the government upon approval and forwarded to the parliament."

Albjara confirm, that "the adoption of the Central Bank Law Amendment would make him independent of the government," arguing that "the problems began to accumulate as a result of a law conflicts with a lot of economic and financial aspects that have been developed in Iraq."

Central bank: exchange companies and speculators are responsible for rising dollar exchange rate

The Iraqi central bank attributed the rise in the dollar's exchange rate against the dinar, to speculators in the market, denying that the reason behind the lack of quotas exchange companies and financial and banking conversion of hard currency.

According to a source at the Central Bank, in an interview to the (long-Presse), "The Bank increased its outlets for the sale and reduced the dollar standard routine to buy it by banking companies and financial transfer and banks, the currency auction", blaming the "exchange companies and speculators responsible for rising dollar exchange rate ".

He denied the source, who asked not to be named, said: "be the procedures adopted by the Bank, to the deduction of eight percent ratio as collateral for the tax and customs, are the main reason behind the rise in the dollar exchange rate," asserting that "the Central Bank form an operations room to take deterrent measures against exchange companies contrary to his instructions, as well as cooperation with the concerned authorities to fend off speculators and prevent them from manipulating the price of the dinar exchange. "

Bankers: the arbitrariness of the central bank reason for the high dollar

Meanwhile Bankers download arbitrary actions of the Central Bank responsibility for a stronger dollar.

And confirms the owner of foreign exchange company in Shorja commercial district, central Baghdad, Abu Nizar, in an interview to the (long-Presse), that "the arbitrary actions of the Central Bank caused a rise in the dollar's exchange rate against the dinar," noting that "the central bank reduced the dollar quotas on the exchange companies and banks , and the imposition of taxes and customs fees on goods entering, as collateral for the dollar, amid growing demand for it. "

And refers Abu Nizar that "the Iraq of the largest country of imported goods so traders need to the dollar to cover their goods," returned to "the current procedures do not allow for traders easy access to the dollar, which forces them to buy it on the black market at any price and thus lead to height."

The dollar exchange rate has seen a steady rise in the domestic market of nearly 1200 dinars to the dollar, the beginning of the current 2015 to 1400 dinars currently.

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Central Bank current problems as a result of the loss of independence
15/06/2015
Sinan Mohammed Rida al-Shibibi

Iraqi money market live in the present state of instability was the collapse of the market rate of the dinar, which amounted to 1340 dinars to the US dollar while the official price of about 1190 dinars to the dollar, although the size of the reserve is still great, which is considered a key factor in the stability of the currency.

The reason is due to this difference between the two prices to enter ministries (Finance) and other parties (House of Representatives) and Amlaihm policies and terms were not unrelated to monetary policy, and not the central bank's ability to defend his advisers about the bank by law.

The problem at present is that students have to pay a conversion secretariat equivalent to a certain percentage of taxes and customs when buying the dollar and at the request of the Ministry of Finance, and this is an important factor in the rise in the dollar price. These conditions have served the Ministry of Finance, but the principle that the purchase of foreign currency and selling it must be done fast and smooth and without any obstacles (except banking conditions and a commitment to capital) because the rapid movement of cash, and if there is a need for the central bank to take advantage of foreign currency sale for development was better to use it in Ttaiwiramlah bank credit, if given preference in the auction of the bank, who leads in the banking its credit.
So there is the intervention of the Ministry of Finance in the work of the central bank. This intervention is designed to collect the financial resources of the Ministry of nothing to do with monetary policy, although the central bank is that the collection of these resources. In other words, the central bank is the one who collects these resources for the Ministry of Finance. As the budget included the central bank to buy Treasury bonds and remittances to $ 6 billion and reduce the percentage of legal reserve held by banks at the Central Bank in half to provide budget resources. The seriousness of these measures GOES to reduce the effectiveness of monetary policy in the fight against inflation. Therefore, on the fiscal and monetary authorities to assess what you get compared to inflation of resources and instability, which can be a cause for the collapse in the real rate of the dinar.
Also restrict the sale by the House of Representatives means interference in the work of Parliament's central bank. Common among among economists and parliamentarians that the central bank continued to the House of Representatives, and this is a big mistake of the Central Bank is responsible to the House of Representatives and not subordinate to him, and here the Central Bank is no different from the rest of the ministries, but this responsibility (the responsibility of the central bank) explicitly mentioned in the Constitution.
Thus, the central bank has lost its independence and became a bow to the decisions of the government and parliament. The style is the right to put forward ideas as proposals in the House of Representatives and then be voted upon.
The government and parliament policies, and particularly in determining sales, led to a duplication of the exchange rate deceived enriched black market and some of them used by others in other funding terrorism may be one of them.
Loss of autonomy has several caveats most important that the central bank will be subject to the instructions of the government, which will be reflected in the Bank's policies and therefore, the central bank will not be able to adopt the goal of reducing inflation in earnest. To make matters worse, that government spending is inherently inflationary result of the delay in the implementation of projects.
And loss of independence would lead to the creditors to look to the central bank's money as government funds, becomes a target for creditors, and this is an important issue should be discussed with creditors and lawyers Iraq.
The loss of independence means that the central bank to adopt monetary policies in line with the policy of the government, but the government's policies may not fit with the Central Bank Law. In other words, it does not focus on the fight against inflation does not give due importance to the goal of economic stability.
The imposition of a financial nature policies on the central bank should be the subject of study and coordination by government and parliamentary bodies. The central bank has weakened administratively from the government, and often tried to governments to impose its policies on the central bank, including the former prime minister tried to borrow from the central bank which was rejected because the bank law prevents him from it, and ended up the attack on the central bank and the arrest of many of the finest staff .
One manifestation of overtaking on independence is to waive it on the Central Bank reserves. Some repeating that this could be justified because the reserve exceeds the currency in circulation and in bank one and a half times. These justifications for the government to gradually dominate the central bank resources. The economy - such as the Iraqi economy - largely open on the outside needs to be significant resources to compensate for the results of any crisis, and if they are borrowing from the central bank would respond when will this money? What is the capacity owned by the bank towards the government to recover the money that?.
The bubble and the high price of the dollar is a result of the policy of the government and the House of Representatives and it ought to be to remove obstacles for the foreign exchange market where you should not be given greater importance of fiscal policy, monetary policy is determine the exchange rate and help to manage the money and functions.
The central bank does not lend to the government but it helps the economy as a whole through price stability and credit regulation and supervision of the banking and financial sector regulation and payments and maintaining the country's reserve. Lama speak much echoed by the government and the Finance Committee in the House of Representatives on "foreign currency auction", this auction is a monetary policy which pulls dinars from the market and bought by foreign currency and here Thread ends for the central bank, we have a cash discharge process direct and simple. And if there is no import of "auction" For parliamentarians to inquire about the reasons for this in the customs or the Ministry of Commerce import process does not fall within the monetary process. That the central bank must be matched each dollar demand and this is one of the fundamentals of price stability as the demand that has not saturated by the bank will go and creates another market prices and the other, which is contrary to the central bank law and creates a state of economic instability.
I chose the Finance Committee put an upper limit on the sale of foreign currency (75 million dollars a day) thereby contributing to instability in and create multiple exchange rates for real because the demand was higher. In any case, this request does not ask about the central bank, but ask for all sectors of the economy, why the Finance Committee in the Parliament and practiced legislation and supervision question to sectors of the economy which are supervised by and to the private sector, especially not go and it's supposed to meet all corners of the economy. We do not doubt that there are irregularities, which requires follow-up with the relevant commercial banks, but we stress that the central bank is in front of the discharge process, but not cash, either by the imports is outside the scope of work of the Central Bank.
On the other hand the money to go abroad because the state did not provide suitable opportunities to invest at home. Also, a section of which is a kind of external savings (within the concept of the national accounts of a country) will return to Iraq in appropriate circumstances that must be provided by the State. As for the extra money must be sure of their sources and legitimacy of the banks and the circles in which anti-money laundering that should be strengthened, the majority of sources may be derived from money laundering or simply that the subject is big operations out of capital.
We must not forget that Iraq falls within the group of countries which are in transition from totalitarian regimes to open democratic systems provide the free economy. This group of countries undergoing many changes in the economy opens up (as states formerly the Soviet Union), but a lot of these countries, its economy was characterized by the transfer of capital abroad. In the case of Iraq also encourages this transition because of the conditions of violence and instability experienced by the country. This situation may explain the large amounts that are being converted to Aforeig.anha go abroad in order to spare, then we are in front of the case of capital flight and not smuggled. The situation in Iraq at the present time encourage capital flight, and if it does not allow for capital that moves the dollar exchange rate in the market will rise significantly hampering economic decision-making.
Iraq has not yet become a safe place brings investment, we need large national efforts to ensure stability and attract investment.

* Former Central Bank Governor

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Chalabi: The Governor of the Central Bank of corrupt

Under section: economic Dated: June 10, 2015
44

Baghdad / Iraq News Network called on the parliamentary finance committee, to oust the Governor of the Central Aleinik current on the Keywords and Kalh.oukal Committee Chairman Ahmed Chalabi, in a press statement today: "It must be changed Keywords After this fiasco, especially that the selling price is fixed for banks (1190) per dollar, and said about him and the central bank auction of this word to the chins laughed, adding that banks and companies selling the dollar (in 1335) to the dollar! This price is just meters away from the central bank and therefore they are only beneficiaries and the citizen is the loser Alcbr.utaba Chalabi, should be the new governor of the Bank shall be an autonomous professional in this area and do not represent the party or political blocks.

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Keywords and appoint a person to manage efficiently the central bank


06/10/2015

Parliamentary Finance demanding exemption Keywords and appoint a person to manage efficiently the central bank

BAGHDAD / JD / .. the parliamentary finance committee demanded, to exempt the Governor of the Central Bank on the Keywords and the appointment of a professional person and efficient central administration, as pointed out that decisions Keywords not hit the interests of the monetary policy in the country.

Committee Chairman Ahmad Chalabi told / JD /: "The Central Bank is one of the large and sensitive economic institutions in the state and must be independent and not subject to quotas partisan."


He added that "all decisions of the current governor of the Central Bank on the Keywords do not serve the interests of the monetary policy in the country", calling for "relieved of his post and appoint an independent person and has a professional and economic and financial expertise and efficient management of the Central Bank" .


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Economic News

Parliamentary Finance outweigh lower demand for the dollar with a new currency issuance
Parliamentary Finance outweigh lower demand for the dollar with a new currency issuance
06/02/2015 11:47
The parliamentary finance committee suggested reduced demand for the dollar in the Iraqi market with the release of the new category of the local currency, noting that the central bank reduced sales led to increased demand and lifted the dollar exchange rate against the dinar.
Central Bank of Iraq and the process and intends to issue new paper from the category of 50 thousand dinars and 100 thousand dinars not to grudge measures aimed to revive the local market chain.
The committee member said Jabbar Abdul-Khaliq's (IMN) "The forecasts indicate lower demand for the dollar in the domestic market with the start of trading the new category of local currency," adding that "the growing demand for the dollar has caused a decline in the dinar exchange rate."
Abdul-Khaliq said that "the increasing demand for the dollar with reducing the supply of it in accordance with procedures and instructions of the Central Bank of the federal budget caused by increasing dollar exchange rates against the Iraqi dinar."
He said the Central Bank of Iraq last Saturday, he said that the 18 banks they started the adoption of a fixed selling price per dollar B1193 dinars in order to re-stabilize the exchange rate in the domestic market.
And I saw the Iraqi dinar exchange rate against the dollar decline after the record per dollar exchange rate 1330 dinars over the past two weeks.

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_______________________________________________________      Parliamentary Finance outweigh lower demand for the dollar with a new currency issuance

 June 2, 2015

BAGHDAD / Center Brief for the Iraqi Media Net

Parliamentary Finance outweigh lower demand for the dollar with a new currency issuance

work (IMN) - the parliamentary finance committee suggested reduced demand for the dollar in the Iraqi market with the release of the new category of the local currency, noting that the central bank reduced sales led to increased demand and lifted the dollar exchange rate against the dinar.

Central Bank of Iraq and the process and intends to issue new paper from the category of 50 thousand dinars and 100 thousand dinars not to grudge measures aimed to revive the local market chain.

The committee member said Jabbar Abdul-Khaliq's (IMN) "The forecasts indicate lower demand for the dollar in the domestic market with the start of trading the new category of local currency," adding that "the growing demand for the dollar has caused a decline in the dinar exchange rate."

Abdul-Khaliq said that "the increasing demand for the dollar with reducing the supply of it in accordance with procedures and instructions of the Central Bank of the federal budget caused by increasing dollar exchange rates against the Iraqi dinar."

He said the Central Bank of Iraq last Saturday, he said that the 18 banks they started the adoption of a fixed selling price per dollar B1193 dinars in order to re-stabilize the exchange rate in the domestic market.

And I saw the Iraqi dinar exchange rate against the dollar decline after the record per dollar exchange rate 1330 dinars over the past two weeks.

From: Haider al-Tamimi, editor: Mushtaq Ramadan Faili, Posted: Dreams Jaddah

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___________________________________________________________________________________    Parliamentary Finance: We fear that accompanies the process of reducing the size of the money supply as the rest of the corruption of previous years

  2015/5/31 12:20 
Parliamentary Finance: We fear that accompanies the process of reducing the size of the money supply as the rest of the corruption of previous years
{Baghdad: Euphrates News} head of the parliamentary finance committee Magda Tamimi said on Sunday, "We fear that accompanies reduce the size of the money supply as the rest of the corruption of previous years process, claim the House of Representatives to" take all reserves and caution. "
He said al-Tamimi told {Euphrates News} today that "printing new currency was to reduce the money supply in the country size, and will be one of a class {} 50-100 and is easy to carry for the Iraqi citizen."
She noted that "change the currency will not affect the inflation, because the inflation rate in Iraq is very reasonable and not high, ranging from {2-3}", pointing out that "we finance as a committee we are afraid of corruption that accompanied this process also I am afraid to be like printed currency in the past few years where Achabha a lot of corruption, even the central bank. "
They pointed out that "the CBI said taking all reserves, but it needs to be more cautious and warned of the House of Representatives."
The Central Bank of Iraq announced earlier near launch new banknotes of five thousand dinars and {25} A class to the new security specifications trading and signs of high protection.
A statement of the Central Bank would be the continuation of the two papers Alnkaditin Almtdaolten now with two new categories without any intention of withdrawn, indicating that they are changes in banknote category {5000} dinars paper contains a string ensure clip displays {4} mm carries a {CBI}, as well to modify the dates Hijri and Gregorian dates to 1435 e {2013} and other security marks.
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Saturday, May 23, 2015 18:40   (THIS ARTICLE CAME OUT THE DAY BEFORE THIS ONE AT THIS LINK! - http://www.easyenglish4u.com/revaluation-hint  I PERSONALLY FEEL IT'S A PROPAGANDA STUNT!)

Parliamentary Finance: Central Bank did not Esicarna on the subject of the issuance of new categories of the coin did not call for the deletion of zeros

Parliamentary Finance: Central Bank did not Esicarna on the subject of the issuance of new categories of the coin did not call for the deletion of zeros

Baghdad / Baghdad Uz..cdt the parliamentary finance committee, said on Saturday that the Iraqi Central Bank has not consulted that the subject of the issuance of new categories of the coin, denying its claim to the bank to delete the zeros of the currency.

The committee member said Sarhan Ahmed Sarhan in an interview with / Baghdadi News / "The Central Bank is looking forward to the issuance of new categories (50 and 100) thousand dinars, but the bank so far has not consult our committee," noting that "a resolution printing new categories needs to be a thorough study , to know the possible dangers on the Iraqi economy in the event of the issuance of this currency and its impact on the auction sale of the dollar. "

"The Finance Committee did not discuss the bank's decisions to issue new categories for not being invited, but the same time ask the study of any decision taken by the Central Bank of special currency", adding that "the committee did not ask the Bank formally deletion of zeros from the currency."

Sarhan said that "the deletion of zeros from the currency a major operation and can not be approved in a short period."

The central bank announced earlier that it will issue the categories (50 and 100) thousand new currency, while specialists warned of the impact on the Iraqi economy and the auction sale of the dollar. It ended 21 / d

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Central Bank of opening the doors of waste of public money

Sat, May 23 .2015

It moved away monetary policy in Iraq far and Dhaivha and objectives which aim to achieve, and the most important goals is to stabilize the exchange rate and the maintenance of the national currency, so the central bank is one of the most important monetary and economic institutions in which they can achieve the economic goals of cash, and the Central Bank of Iraq into law is independent of the government monetary institution, so this should be an independent institution that does not comply with management and Qaimiha government orders that are contrary to the bank instructions, as we find that those in charge of the Central Bank are not politicians and economists specialists.
The central bank has become the doors of waste of public money because of foreign currency raised by the bank through its daily auction sales, as the mechanism of the bank based on the existence of demand of banks civil and corporate banking, and these civil institutions registered with the bank and have the right to buy foreign currency and sold by the Central Bank instructions Iraqi, the problem of these banks and companies, is the lack of commitment to the instructions of the bank and the prices set by, it estimated slight margin between the bank rate and the market price, so we find a lot of politicians, economists and officials and even ordinary citizens, know that there are very large differences between the price asked by the Central Bank and between prices prevailing in the market, and Sabine said the bank has become the doors of financial corruption interpretation of its sales during the nearly five months, and the tip of the iceberg.
The quantity sold to the dollar by the central bank, banks from the date of 01.04.2015 until 17.05.2015 (11,478,148,730) dollars. A $ 11.5 billion and a half almost.
The interpretation of these figures, the central bank ''s approximately more than (1,437,000,000) one billion, four hundred and thirty-seven million dinars, in five months, because the sale price is for banks (1190) to the dollar.
Banks and companies selling the dollar (in 1315) to the dollar!
In fact, the Central Bank of Iraq is approximately km from the market, which sold its currency, and get these differences, and buying of the dollar bank goes directly to the market struggle This currency to commercialize this large Alfoarac and thus become a money laundering operation for the summit appetite who wants to escape the hard currency, which is the depletion of the resources of Iraq's economic task.
In conclusion, I ask the Prime Minister, Dr. (single Abadi) to draw an investigative committee belonging to the Council of Ministers for broadcast in achieving these economic crimes during the day floating in earshot and view of everyone. In order to preserve what's left of resources difficult to obtain at this time which affects our economy of rent-seeking disable all economic sectors, and adopted only on oil. Especially we are in the phase of war and this also represents a significant drain on our dear country, we must put an end to this public thefts which, if invested in the bank for a fetus of billions rather than austerity.

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Central Bank: the financing of small and medium enterprises and support defaulters aims to promote the reality banking

21/05/2015 10:35

Long-Presse / Baghdad

The Central Bank of Iraq, on Thursday, that the amount allocated for the financing of small and medium enterprises trillion dinars, will be allocated for the banks are ready for it to sustain their liquidity and revitalization, and pointed out that it will lend banks that suffer a shortage of liquidity to increase its capital, as decided to accept the properties of some banks that applied for financial loans to increase its capital, counting those actions aimed to promote the reality banking to be consistent with the requirements of the current stage.

He said the Council of the Iraqi Central Bank board member Majid picture, in an interview to the (long-Presse), "The process of economic development without relying on the budget is the main reason which made the central bank to take a number of decisions, including the financing of small and medium enterprises to domestic banks."

He added the picture, that "the central bank decided to ask trillion dinars to be used to finance small-scale projects, where it is possible to medium enterprise finance up to $ 250 thousand dollars," noting that "banks that finance these projects, then made a disclosure to the central bank, which is based directly pay amounts for banks in order to perpetuate their liquidity and revitalization. "

A member of the Board of Management of the Central Bank of Iraq, that "all banks covered by that decision," but he also said, "but not all are willing to finance small and medium projects, so it will be funding on this basis."

And on the bank's decision to put capable of addressing the situation of some private banks that cash-strapped procedures, said the picture, that "the central bank will grant loans appropriately for banks that suffer a shortage of financial liquidity to increase its capital," pointing out that "the central bank decided to accept the properties of some banks I applied for financial loans to increase its capital. "

He said the picture, that such "actions carried out by the central bank aims to promote the reality banking to be consistent with the requirements of the current stage."

The Central Bank of Iraq, the first on Tuesday, (the 19th of May the current 2015), launch trillion dinars for private banks to finance small and medium enterprises loans, and increase the share of dollar sales for banking companies and foreign transfers, and the development of measures to to address the lack of liquidity in some banks.

The Central Bank of Iraq, revealed in (the 19th of March 2015), the presence of a number of private banks lagging in its work during the last term, while attributing it to non-payment of dues of contractors and clients as a result of "lack of liquidity", vowed to dealers funds with banks Civil lagging through the legal reserve.

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Citizens Are Afraid to Enter Large Cash Categories and Experts They Consider a New Achievement!

05/19/2015

Citizens are afraid to enter large cash categories and experts they consider a new achievement


Dinars / Abbas Al passengers /..rpma Iraqi government's progress in some cases, the steps have not only benefited a class or a specific segment of Iraqi society, while the ordinary citizen is affected first and last of those steps that Ataud benefit him.
Iraqi street was trading days since the news that the Ministry of Finance, represented by the Central Bank will issue a new currency from the category of "50" thousand dinars and then followed after issuing another currency of a larger category of a "100" thousand Iraqi dinars.
The moves in light of the suffering severe the country as a result of fiscal austerity that has ravaged the country about more than a year and a large deficit in the state budget since, through a multitude of objects of expenditure and the adoption of the government to only rentier economy, oil and some industries light of, in addition to the face of the country to organize Daash terrorist war against it, and having to reduce staff in the public sector wages as well as stop the financing of some projects as a result of fiscal austerity.
Dr. appearance of Mohammed Saleh adviser to Prime Minister for Economic Affairs told "economic dinars" on the subject, saying: I am with this trend in the introduction of large cash categories because it will raise the efficiency of large payments large cash and categories system facilitates the trading of large parliamentary blocs so they shortened the monetary amounts by half or more and solve the problem of the transfer of those quantities, Iraq is still handles cash Order Cache and not the card that requires time and effort and the culture of the visa regime.
He adds that the benefit of this project was due to work done for years, which does not contradict with the project to delete the zeros because reform, there is no need to fear the introduction of these large groups to the market because the financial institutions in the country studied the subject from all sides and is a guarantor of safety.
Some citizens believe that the "large cash categories" to enter the market now is tantamount to adding new burdens on the ordinary citizen as simple salary categories will be hard to break or turn them into smaller groups in order to dispose of them.
They accuse the state to take decisions to Atsb in their interest never, through this confusion decisions is well thought out economic feasibility and benefits desired, but are skeptical about a lot of them that there are mafias significant financial and whales want to take advantage of the introduction of these large groups that might cripple the market movement and the elimination of small groups of categories of "250" dinars and the "500" and "1000" dinars final and the first affected by it is to cancel the taxi buses that operate within the alleys and removed from the "500" to "1000" and the abolition of the pricing "ticket" hospitals, the government's "500" BD also due to lack of loose change final of daily trading, and will be traders are the first beneficiaries of this decision because they would import goods from outside Iraq through that currency instead of running behind the currency of the US dollar or the euro European volatile in terms of demand and supply and the purchase price as well.
To Aikhvi citizen "Abu Zahraa al-Moussawi," 34-year-old fear of this sudden decision to us and says that his fear Mtota of greed merchants, exploitation and opportunists of them, because large denominations were a big problem in one day, especially in the post-dictatorial regime fall of 2003 as traders to Aigmon take unzip large currency, which was at the time 10 000 dinars and 25 thousand, but buy eggs layer or a dozen full of cigarettes or any other commodity is determined by the dealer himself, citizens are forced to acquiesce to buy some of the issues they do not need them perhaps some people to Aadechn or unwilling to buy eggs table of the market and other goods.
He adds that the ordinary citizen fears of a repeat of the same scenario, especially since there is chaos in Iraq and the absence of economic sergeant in the market now is Maahdja traders on foot to carry out acts of earning profits is due and multiply.
It recalls that monetary categories in the country has gone through many stages and each time increased in number Ocefarha and pulls small currencies "loose change" and rising prices and growing, while large currency chasing small currencies remain as it says modern economic base, and increasing numbers of financial Warraq entering the market and the corresponding gold . / End / 22 /

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Tuesday, May 19, 2015 15:51

Central Bank decides to launch an amount trillion dinars for private banks

Central Bank decides to launch an amount trillion dinars for private banks

BAGHDAD / Baghdadi News / .. The central bank decided on Tuesday to launch an amount trillion dinars for private banks.

A statement of the Central Bank received / Baghdadi News / copy of it, that "the Board of Directors decided to increase the share of dollar sales for banking companies and foreign transfers, and reduce the time period for the implementation of foreign remittances."

The statement added that "the Council stressed on the development of measures to address the situation of some private banks and experiencing a shortage of liquidity in order to ensure treatment of their positions."

He pointed to "the approval of the launch amount trillion dinars for private banks, for the purpose of financing small and medium enterprises loans to citizens and approve their own controls, as well as approval of instructions regulating the work of guaranteed bank loans companies."

It pointed to "direct economic expert Majid picture as a member of the Board of the Central Bank representatives from private banks, after obtaining the approvals it,"

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Sunday, May 17, 2015 16:55

Central: Print thousand paper of class 25 000 dinars at a cost not to exceed US $ 60

Central: Print thousand paper of class 25 000 dinars at a cost not to exceed US $ 60

BAGHDAD / Baghdadi News / .. revealed the Central Bank of Iraq, on Sunday, for the cost of coins to the category of 25 000 dinars, noting that the cost of printing and paper thousand of which does not exceed the (60) dollars.

The director of the version in the bank Ahsan Yasiri in a statement received / Baghdadi News /, a copy of the Iraqi "central prints thousand paper of class 25 000 dinars in Arsn international companies at a cost of less than $ 60," noting that "the bank will not spend significant financial liquidity for the printing of the new denominations because the cost of a few. "

WE KNOW THEY CAN'T TELL US WHAT THEY'RE GOING TO DO, SO HOW ABOUT A PLAY ON WORDS! ONE OF 2 AND THEY SAY 50 AND THEN 100,000!
THEN IN THE SAME ARTICLE THEY TALK ABOUT DROPPING THE THREE ZEROS!

He added that "the central bank is serious about printing new cash categories that will be one of the two categories of 50 and 100 000 dinars, which is in the process of selecting designs and corporate printer", adding that "the decision to print the powers of the central bank exclusively for that part of the monetary policy, which can not interfere by any party. "

He Yasiri, that "currency printed necessary to modify the Iraqi banknotes structure of the draft as a prelude to the implementation of the project to delete the zeros", adding that "the Iraqi dinar is very strong currency but restructuring banknote weak because the biggest coin is a class of 25 dinars, equivalent to $ 22, and this structure weak makes the citizen prefer to deal in dollars instead of the dinar ".anthy 21 / l

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Governor of the Central Bank on the Keywords
Keywords: Iraqi bank reserves higher than its predecessor and Iraq remains influenced by oil prices is an essential resource for approval

16/05/2015 19:39

Long-Presse / Baghdad

Iraqi Central Bank revealed on Saturday, the bank reserve "will not affect", in any form, indicating that the current month reserve higher than its predecessor, while pointing out that if Iraq remained dependent on oil resources as a source basis will remain affected "negatively and positively "with the rise and fall of oil prices.

He said the Iraqi Central Bank Governor Mahdi Keywords in an interview with a number of media, including the (long-Presse) on the sidelines of a seminar organized by the Association of private banks in Iraq on the application of international accounting standards in Baghdad, said the hotel "Central Bank reserves is changing on a daily basis based on the central bank to cover Foreign purchases or foreign trade and building on imports of Iraq in the oil sector and imports of the dollar, "noting that" did not affect the reserve will not affect in any way in this month's central bank reserves is higher than the previous month and a reserve this is a good sign. "

Keywords adding, that "monetary policy is trying to balance the need for Iraq in the various pieces of foreign currency in the exchange rate which is very important in order to keep the balance of the reserve force coverage of the currency being the cover of the local currency."

He continued Keywords, "We aspire that the Iraqi economy strength is the real power of the Iraqi dinar and not just buying and selling currency operations, and therefore needs to reform processes of great economic and plans to have the Iraqi dinar strongly in the markets," adding that "Iraq if it remained dependent on resources basis as a source of oil will remain positively and negatively affected by the rise and fall with oil prices. "

For his part, Director General of the Financial Supervision and a member of the financial standards of the Iraqi Council Salah Nouri al-Khalaf in an interview with the (long-Presse), to "adopt International Accounting Standards Board, Accounting Standards and the rest of the countries should adopt in order to unite," pointing out that "Iraq adopts standards through the adaptation of international accountant as it deems necessary and therefore Iraq has 14 accounting rule. "

Between and behind, that "the unified accounting system is a tool for easy accountant and a heuristic for the application of the standards and if they have been updated with the international system will be much the Iraqi accountant easy."

It is noteworthy that the central bank confirmed, during the month of January 2015, that the reserves will exceed the $ 80 billion during the first half of the same year, but will not reach $ 100 billion due to weak retail Iraqi oil revenues and through which access to the dollar to strengthen reserves.

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Central: Print thousand paper of class 25 thousand does not cost $ 60

Central: Print thousand paper of class 25 thousand does not cost $ 60

 May 16, 2015 

BAGHDAD / Center Brief for the Iraqi Media Network (IMN) said Manager version in the Central Bank Ihsan al-Yasiri, the central Iraqi prints thousand paper of class 25 000 dinars in Arsn international companies at a cost of less than $ 60, noting that the bank will not spend significant financial liquidity for the printing of the new denominations because the cost of a few.
The Yasiri's (IMN) that "the central bank is serious about printing new cash, which will be categories from 50 categories and 100 000 dinars, which is in the process of selecting designs and printer companies."
He continued that "the decision Copyright Central Bank's authority exclusively to that part of the monetary policy, which can not interfere by any party," stressing that "printed currency project is necessary to modify the structure of the Iraqi banknotes in preparation for the implementation of the project to delete the zeros."
He pointed out that "the Iraqi dinar is very strong currency but restructuring banknote weak currency because the biggest category is 25 dinars, equivalent to $ 22, and this structure makes the weak citizens prefer to deal dinar instead of the dollar."
He said Prime Minister for Economic Affairs Adviser appearance of Mohammed Saleh, earlier, that the draft Print Central Bank of Iraq large cash categories, an important step on the road to monetary reform, which supports the country's economy, Mbenaaon Iraq is suffering a contraction in liquidity both in dinars or in dollars as a cash cluster size in Iraq about 40 trillion dinars.
From: Wissam al-Haj, edit: Laith Mohammad Reza

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Specialists describe the Central Bank cut the Rate of the Dinar to the Bitter Treatment

16/05/2015

Specialists describe the central bank cut the rate of the dinar to the bitter treatment


BAGHDAD / JD / .. A number of experts and specialists in the financial and economic affairs, said the central bank has taken several measures to reduce the federal budget for the 2015 deficit, which exceeded the rate of more than 40%, including reducing the dinar exchange rate against the dollar, noting during their talk Agency / JD / that the reduction rate of the dinar against the dollar is a cure, but over because it will raise the rates of inflation and reduces the strength of the local currency, while the dollar swung the price will stabilize at 1300 dinars in the coming period.
He says economist Maitham coffee, "The reduction of the Iraqi dinar exchange rate will benefit the budget, because every dollar sells for the central bank at the most expensive of the dollar, which means that before the budget is funded by the difference between the price of two dollars deficit Alambain".
He told coffee / JD /, that "this policy is used on a global scale, regardless of the level of progress or the availability of resources in the countries, a cure for the problems of the budget deficit and balance of payments deficit at the same time."
He pointed out that the measure has immediate and future effects, which can lead to higher prices in the domestic market, but this rise could end excitement that it led to a decline in consumption and imports has been stimulated by market forces. "
"Even on payments features could be improved in the future through lower imports could increase the surplus or at least the surplus," adding that "its direct impact will be to reduce the budget deficit."
For his part, he criticized the President of the Economic Information Center lion Mohammed Ali, lowering the dinar exchange to reduce the budget deficit rate policy the fact that going to hurt the citizens, adding that "the salaries and revenue people are denominated in dinars and reduce the value of the dinar mean multiples of the ability of citizen's purchasing power, and this will lead to higher inflation rates."
Mr Mohamed Ali told / JD / "The vision must be based on the experiences and the liberalization of the exchange rate or approaching that in the absence of full need coverage will lead to a steady rise in the local market is very sensitive and subject absolutely inflationary shocks internal and external with the stability of income levels."
He added that "for the hypothesis and if you do not get cases of economic contraction due to declining employment will lead to a rise in prices of services and goods and the movement of the market indicate that the response to rising prices and its impact on higher consumer price of the real impact of any that the state monopoly still dominate the local market economy." .
As an economic expert Sumaisem peace, it confirmed that this policy is a cure, but over what is happening from economic fluctuations in the country, noting that the application will reduce the budget deficit, but it will affect the local market in terms of higher prices.
And witnessing the dollar exchange rate rise against the dinar per dollar, reaching the price of 1300 dinars.
And suffer the budget in 2015 approved an estimated $ 119 trillion dinars and an oil price of $ 56 a barrel from a large fiscal deficit estimated at more than 40% because of lower oil prices in world markets. / End / 8 /
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Keywords: Iraqi bank reserves higher than its predecessor and Iraq remains influenced by oil prices is an essential resource for approval

Author: MJM  Editor: AT  16/05/2015 19:39

Long-Presse / Baghdad

Iraqi Central Bank revealed on Saturday, the bank reserve "will not affect", in any form, indicating that the current month reserve higher than its predecessor, while pointing out that if Iraq remained dependent on oil resources as a source basis will remain affected "negatively and positively "with the rise and fall of oil prices.

He said the Iraqi Central Bank Governor Mahdi Keywords in an interview with a number of media, including the (long-Presse) on the sidelines of a seminar organized by the Association of private banks in Iraq on the application of international accounting standards in Baghdad, said the hotel "Central Bank reserves is changing on a daily basis based on the central bank to cover Foreign purchases or foreign trade and building on imports of Iraq in the oil sector and imports of the dollar, "noting that" did not affect the reserve will not affect in any way in this month's central bank reserves is higher than the previous month and a reserve this is a good sign. "

Keywords adding, that "monetary policy is trying to balance the need for Iraq in the various pieces of foreign currency in the exchange rate which is very important in order to keep the balance of the reserve force coverage of the currency being the cover of the local currency."

He continued Keywords, "We aspire that the Iraqi economy strength is the real power of the Iraqi dinar and not just buying and selling currency operations, and therefore needs to reform processes of great economic and plans to have the Iraqi dinar strongly in the markets," adding that "Iraq if it remained dependent on resources basis as a source of oil will remain positively and negatively affected by the rise and fall with oil prices. "

For his part, Director General of the Financial Supervision and a member of the financial standards of the Iraqi Council Salah Nouri al-Khalaf in an interview with the (long-Presse), to "adopt International Accounting Standards Board, Accounting Standards and the rest of the countries should adopt in order to unite," pointing out that "Iraq adopts standards through the adaptation of international accountant as it deems necessary and therefore Iraq has 14 accounting rule. "

Between and behind, that "the unified accounting system is a tool for easy accountant and a heuristic for the application of the standards and if they have been updated with the international system will be much the Iraqi accountant easy."

It is noteworthy that the central bank confirmed, during the month of January 2015, that the reserves will exceed the $ 80 billion during the first half of the same year, but will not reach $ 100 billion due to weak retail Iraqi oil revenues and through which access to the dollar to strengthen reserves.

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Central heading into a large printed banknotes




Sunday
10
May
2015
| 11:34
Central heading into a large printed banknotes

The most prominent in the news

Print large cash project categories not related to monetary policy but the payments system management

Also found in:


















Said Advisor to the Prime Minister of Iraq for Economic Affairs, the appearance of Mohammed Saleh in a statement to «life», that the draft Print Central Bank of Iraq large cash categories, an important step on the road to monetary reform, which supports the country's economy, pointing to a market need for large denominations, and that handle very large monetary blocs in Iraq, especially that cash payments outweigh the instruments to deal cards and electronic payments.

He pointed out that printed large cash categories not related to monetary policy but the payments system project management, pointing out that this plan will be condensed amounts of money, especially large groups that make up 90 percent of the money supply in circulation.

He explained that the launch of these large groups is to put the same amount of monthly money supply in the market but different categories, and not increase the original amount. He ruled out the potential for inflation by the implementation of the project, pointing out that the central does not lend the government and said, in the event of lending to the government and the issuance of large cash categories can get inflation in prices, The country suffered a contraction in liquidity both in dinars or in dollars with Abalg monetary bloc in Iraq size less than 40 trillion dinars (about US $ 31 billion).


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The economic and investment commission hosts the Governor of the Central Bank
May 03 2015

The economic and investment commission hosted on Sunday, 05/03/2015, headed by MP Jawad al- Chairman of the Committee and the presence of Messrs members, Mr. Ali Keywords Governor of the Central Bank to discuss the monetary policy of the Bank and ways to encourage the private sector. The head of the economic and investment commission during the meeting that it is important at this stage where the country is suffering from the financial and economic crises that operate fiscal and monetary policies to promote economic reality which is viewed with hope for investment and the private sector. "

He said al-Bolani said on relevant policy monetary act now and quickly to invest the money supply available and channeled properly to support private sector companies and banks sector, and here this liquidity will work as an engine driver of investment which will generate additional financial returns and increases the total national income and gross domestic product (GDP).

For his part, Governor of the Central Bank announced the completion of the final touches to issue a new currency of 50 000 dinars category which would reduce the volume of cash in circulation. (NOTE* UNLESS YOU RAISE THE VALUE, YOU CAN'T REDUCE THE NOTE COUNT!)

He Keywords that the central bank began lending process biggest banks sector and private banks and invest the money in investment projects and also support various economic sectors such as agriculture, industry, housing and others.

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27/04/2015 (00:01 pm) 

Economy calls for parliamentary approval of the Central Bank Law and the "removal" of the government


BAGHDAD / Amer Mohi

Forecast for economic and investment commission in Parliament, on Sunday, taking the central bank package of measures that would reduce the dollar exchange rate against the Iraqi dinar, while confirmed that the citizen is the biggest affected by the high dollar exchange rate, called for the adoption of a law on the central bank guarantees his independence from government .

She said a member of the economic and investment commission in Parliament, Najiba Najib in an interview for the "long" that "the Central Bank was able to maintain the dollar exchange rate at 130 thousand dinars for $ 100 through the procedures followed by," indicating that "the dollar exchange rate has risen during the past few days to more than it is now. " 


She said Najib saying that "the Central Bank is taking some decisions that will re-dollar exchange rate restored to its former" unexpected "increase the width of the dollar, and reduce imports of foreign States requesting push the dollar from the Iraqi side." 


She pointed out that "the lack of oil revenues in the current time also contributed to exacerbate the financial crisis, especially that Iraq was receiving oil imports in dollars," asserting that "the citizen is affected by the first rise of the dollar to the relationship of this important matter joints of his life." 

(BELOW ARE 2 STATEMENTS THAT PUT EVERYTHING INTO PERSPECTIVE, 1st) IS THEY WILL ISSUE 2 NEW CATEGORIES OF ID WHICH WILL HAPPEN WITH THE POSTING OF THE NEW RATE, I EXPLAINED IT IN A COUPLE ARTICLES DOWN, AND I BELIEVE THAT WILL BE SOON. 2nd) THEY ARE REMINDING EVERYONE THAT THE CBI IS AN INDEPENDENT AGENCY OF THE IRAQI GOVERNMENT AND HAVE THE AUTHORITY TO DO WHAT THEY NEED TO DO TO KEEP THE ECONOMY STABLE!)

She explained a member of the Kurdistan Alliance said its Committee "addressed in most of the time the government and the central bank confirmed that the survival of the dollar at this point will affect the Iraqi economy, especially since the citizen adopted a certain price for the disbursement of the dollar," pointing out that "the issuance of Banknotes category of 50 thousand dinars and 100 thousand dinars will contribute to reducing the effects of the crisis, especially since these currencies will make the most of the groups acquired a large currency away from the dollar, and this may be part of the steps that may be followed by the central bank. " 


For its part, the other member of the Committee said Nora Albjara told the "term" that "the economic crisis caused by the high price of the dollar, can not be completed without the legislation of a special law of the Central Bank ensures the independence of his work away from the government." 


She Albjara by saying that "the central bank in the event of winning his case at the Federal Court to prevent the government from selling the dollar capping it would be a solution to easing the crisis," pointing out that "the economic problems began Ttrutb result of this matter." 


She Albjara that "most traders began reluctant to buy goods because most of their dealings in dollars, which impact on the financial dealings," asserting that "some people have benefited from the crisis, especially property owners who agreed with Majerihm to pay the dollar." 


The parliamentary finance committee expressed, earlier, concern about the continuing rise in the dollar's exchange rate against the dinar, while the central bank has demanded to contain the market.  He was prime minister for economic affairs adviser appearance of Mohammed Saleh Description (4 March 2015) rising US dollar exchange rate Balbsat, stressing that the central bank measures is not the reason. 

Said Mohammed Saleh, said that speculators and owners of banking offices behind the rise in the dollar against the Iraqi dinar, Petroejehm news inaccurate for the dollar and tampering with the price of the dinar according to their wishes, stressing that "the rise in foreign currency simple price, which is ineffective, and will disappear demise of economic strain." 


"The new central bank measures were selling the dollar to immunize a process, not a final stop the auction currency," he said, adding that the Iraqi dinar completely covered with foreign currency and there are no fears of the weakness of Iraq's reserves of hard currency. "

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Mon, April 27, 2015 21:10

Parliamentary Integrity re-investigation of the Central Bank file and confirm the existence of the complicity of some of the bank's staff

Parliamentary Integrity re-investigation of the Central Bank file and confirm the existence of the complicity of some of the bank's staff

BAGHDAD / Baghdadi News / .. revealed to the Parliamentary Integrity Committee, on Monday, for re-investigation file corruption Central Bank, confirmed the existence of the complicity of some officers with the Central Bank and private banks owned by influential government officials.

Said committee member Mohammed fact that L / Baghdadi News / "The Subcommittee problem re-investigate the issue of central bank file because of the complexity of things, accusations and the goal is to reach real results", adding that "the parliamentary integrity is still being investigated seriously the importance of the subject."

He said the fact that "the Commission is working on new ways to detect fraud in the currency smuggling abroad," noting that "there is complicity of some officers with the central bank and private banks owned by influential government officials" (Khvm refused to be named) .anthy 21 h

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Keywords: invited the government to economic reform processes to maximize other resources

Ali Keywords



  
26/04/2015 13:51

Tomorrow Press / Baghdad called the central bank governor, on the Keywords, Sunday, the government has to do economic reform processes to maximize the non-oil and other resources.

Keywords and said for "tomorrow's Press," that "it is necessary to activate a lot of procedures that restore financial and economic system in the country," and urged "the process of a major overhaul and enhance the efficiency of financial and economic, which achieves address the economic situation in the future."

He pointed out that "the economic situation affected the large decline of oil prices and the decline is possible to lead to a real

review because the primary supplier to balance the country and this presents an ongoing risk to the country as a result of

fluctuations in oil."




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CBI is working to put the two categories, one hundred fifty thousand dinars of currency   (I want to say that this is a very exciting article and here's why. While they mention issuing a fifty thousand and a one hundred thousand dinar note, it isn't exactly what it seems. As you read down it says that this is combined with the deletion of the three zeros! Here's the exciting part, take three zeros off of a 100,000 & 50,000 dinar (ID) and you have a 50 and 100. they didn't want to come right out and say this because then people will know they intend on raising the value to at least a 1 to 1 ratio. But it could be more as they need to de-dollarize and they can't do it when the local population doesn't trust the fluxuation of the ID. They are secure with their USD in that sense. So the ID is going to have to be significantly higher for the Iraqi population to dump their their USD and use the IQD!)

Basenyoz | Xuan Alborznge
04/25/2015 17:38

Iraqi parliamentarian said on Saturday, the Central Bank of Iraq intends to launch two new categories of the Iraqi currency and fifty thousand and two hundred thousand dinars.

**(Notice in the below statement it uses a past tense verb, saying "has taken," the necessary preparations for that.)

Sarhan said Ahmed, member of the Finance Committee in the Iraqi parliament, the reporter "Basenyoz," The CBI will continue to work for the issuance of two new categories of currency fifty-two thousand, one hundred thousand dinars, "noting that" the central bank has taken the necessary preparations for that. "


He added that "the central bank looked at it and made the decision about it leaving only the allocation of funds for the printing of two new categories," pointing out that "Under the law will be charged the two new categories of currency writings in Kurdish language."


***He said the Iraqi parliament to issue two new categories of the Iraqi currency in the preparations for a future plan that includes deleted several zeros from the currency.

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The Iraqi government lifted the roof of banking transactions for citizens

Baghdad, Ali al-Azzawi
April 23, 2015

أقرت الحكومة العراقية، اليوم الخميس، قانوناً يسمح للمواطنين بسحب مبالغ مالية من حساباتهم البنكية حتى 100 مليون دينار (84388 دولاراً)، بعد مرور سنوات على اعتماد نظام تقييد السحب المالي من البنوك عند 25 مليون دينار فقط (21 ألف دولار). The Iraqi government approved on Thursday a law allowing citizens to withdraw money from their bank accounts up to 100 million dinars (US $ 84 388), only after the passage of years since the adoption restrict fiscal drag system from banks at 25 million dinars ($ 21 thousand).

وتأتي الخطوة، وفق مراقبين، ضمن محاولات حكومية للسيطرة على ظاهرة اعتماد الدولار بالسوق العراقية خلال التعاملات اليومية الكبيرة، كالصفقات التجارية وبيع وشراء العقارات، بسبب شح العملة النقدية المحلية. The move, according to observers, within the government's attempts to control the phenomenon of the adoption of the dollar in the Iraqi market through large daily transactions, Kelsafqat business, buying and selling real estate, because of the scarcity of local currency.

وقالت الحكومة العراقية ، في بيان لها وصلت إلى "العربي الجديد" نسخة منه، إن "الأمانة العامة لمجلس الوزراء وجهت برفع سقف الصكوك المصدقة، التي تصدر من المصارف الأهلية من (25) مليون دينار إلى 100 مليون دينار كحد أعلى للمعاملات الإجرائية، التي يقوم بها المواطنون مع الدوائر الحكومية". She said the Iraqi government , in a statement amounted to "the new Arab" a copy of it, "The General Secretariat of the Council of Ministers directed to raise the ceiling certified instruments issued by private banks from 25 million dinars to 100 million dinars maximum procedural transaction, which is by citizens with government departments. "

وأضافت أن "القرارات الخاصة بتطوير القطاع المصرفي الخاص مهمة، ونعمل على قيام وزارة المالية بإلزام دوائر الدولة بقبول الصكوك المصدقة الصادرة من المصارف الخاصة، والتنسيق بين المالية والبنك المركزي العراقي ورابطة المصارف الخاصة لوضع ضوابط وآليات واضحة ومحددة لإيداع رواتب الموظفين والمتقاعدين في المصارف الخاصة، وبما يضمن حقوق المودعين، بالإضافة الى قيام البنك المركزي العراقي والمصارف الحكومية بدراسة إمكانية إقراض المصارف الخاصة لتمويل المشاريع الصغيرة والمتوسطة". She added that "for the development of the private task banking sector decisions, and we are working on the establishment of the Ministry of Finance to compel government departments to accept certified instruments issued by private banks, and coordination between the Finance and the Central Bank of Iraq and the Association of private banks to put controls and mechanisms are clear and specific to deposit employees and pensioners in private banks, including guarantee the rights of depositors, in addition to the establishment of the Iraqi Central Bank and government to study the possibility of banks lending to private banks to finance small and medium enterprises. "

وتابع: "اللجنة قررت قيام المصرف العراقي للتجارة بفتح خطوط ائتمانية لدى المصارف الخاصة، بإشراف البنك المركزي العراقي، والتأكيد على تفعيل دور المحكمة المالية، حسب ما نص عليه قانون المصارف ووفقاً لقانون البنك المركزي العراقي وعدم اللجوء الى المحاكم الأخرى". He continued: "The Committee decided that the Trade Bank of Iraq to open lines of credit to the private banks, under the supervision of the Central Bank of Iraq, and the emphasis on activating the role of the financial court, as stipulated by the banks, according to the law of the Central Bank of Iraq and not to resort to other courts."

كما تقرر أيضاً بحث "إمكانية الاستفادة من الاحتياطي الإلزامي للمصارف الخاصة، والموافقة على التوصيات الخاصة بضوابط خطابات الضمان، والتأكيد على المالية والبنك المركزي بشأن فتح الاعتمادات لدى المصارف الخاصة حتى 10 ملايين دولار دون مرورها بالمصرف العراقي للتجارة". It was also decided also discuss "the possibility to take advantage of the reserve requirement for private banks, and the approval of the recommendations controls letters of guarantee, and the emphasis on Finance and the Central Bank on the opening credits to the private banks up to 10 million dollars without passing through the Iraqi Trade Bank."

وأكد المجلس، بحسب البيان نفسه، أن "اللجنة الاقتصادية وجهت إلى قيام مصرفي الرشيد والرافدين بإيداع جزء من أموالهما لدى المصارف الأهلية، مقابل فوائد ميسرة، وتقوم المصارف الأهلية الخاصة باستثمار تلك الأموال في المشاريع الاستثمارية، وقيام البنك المركزي العراقي بتقديم مشروع ضمان الودائع بالسرعة اللازمة". He stressed the Council, according to the same statement, that "the economic committee and sent to the bank Rafidain and Rasheed deposit part of their money to the private banks, in exchange for soft benefits, the private investment of these funds in investment projects of private banks, and the establishment of the Iraqi Central Bank to submit a draft deposit guarantee the necessary speed ".

كما تم حث "المصارف الأهلية الخاصة على إيجاد شراكات مع المصارف العالمية لخلق فرص استثمارية وتشغيل الأيدي العاملة"، إضافة إلى "توعية المواطنين لإيداع أموالهم في المصارف". As has been the "special private banks urged to find partnerships with international banks to create investment opportunities and operation of labor," in addition to "educate citizens to deposit their money in banks."

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The Central Bank of Iraq announced the final touches to put currency 50 000 dinars category in the markets.

So she said to a member of the parliamentary Economic Committee Najiba Najib said the "agreement on the issuance of new currencies of the 50 and 100 000 dinars category has been, in addition to issuing the CBI 25 thousand dinars category of the new model."

 (*) She said Najib saying that "the project to delete the zeros of the currency will not be implemented because of the lack of success of the project appropriate economic environment, despite being one of the objectives of the Central Bank," adding, "was equipped for the issuance of coins of the type 50 100 thousand dinars by the central bank, it has been designed the form of those currencies. "

 (*) She noted a member of the parliamentary Economic Committee, "not to the Iraqi currency harmony with trading volumes and revenue", noting that "the issuance of large coins will help in carrying large amounts of money simple and sizes without the need for bags to carry cash."

For his part, member of the Finance Committee Masood Haider "The draft put forward two currencies cash prizes of category 50 000 dinars and 100 000 dinars have been by the Central Bank noting that" the project has been discussed with the Finance Committee in the House of Representatives is not in good standing. "

 HERE'S THE BIG QUESTION???THEY MENTION THE LIFTING OF THE ZEROS WILL INCLUDE 2 NEW CATEGORIES!    SO THEY'RE STILL USING DOUBLE SPEAK IN MY OPINION!                                                                                                                                                                                            (*)(lalala)However, Haider saying that "the current financial situation may prevent speeding up the process thrown into the market during the current period," pointing out that "the Central Bank has provided an outline of those currencies by identifying colors and logos and symbols to be used in the new banknotes." He said, (*) "in If the lifting of the zeroes of the Iraqi currency, this in turn will include two new categories. "

RAISING THE VALUE OF THE DINAR WOULD SOLVE ALL THIS! (*) For its part, the Finance Committee in the House of Representatives denied the government's inability to pay salaries next month after June, (*) while confirming that the Iraqi financial reserve exceeds 60 billion dollars, revealed the crystallization mechanism to fight money laundering.

The committee member said Masood Haider during a television interview, said that «talk about the inability of the Iraqi government to pay the employees' salaries after next June, is part of the propaganda against the government and try to make it fail», indicating that «the state revenues four billion dollars of oil only, while the salaries of employees of three billion and $ 400 million, in addition to the existence of other sources of revenue ».

He said Haider, that «Iraq has substantial financial reserves exceed $ 60 billion, and 80 tonnes of gold as a support for the currency», stressing that «Iraq is not bankrupt countries, but passes a financial crisis as a result of irrational policies during the last period».

 (*) He revealed Haidar «Finance Committee will elaborate the project and the mechanism to fight money laundering and to develop a mechanism to fight, and will be the Central Bank of Iraq as part of that», (*) stressing the need to «improve the banking sector to be supportive of the economy, as well as DIVERSIFY its sources of state revenues and go to the tax and customs solution Annie crisis current ».

 (*) On the other hand, stressed the economic and investment commission parliamentary member of the Charter of Hamdi, on Monday, the central bank can not delete the zeros due to the unstable economic situation, as pointed out that the bank regarding the treatment of these things will be printed new financial category worth fifty thousand dinars.

Hamidi said in the statement it issued, that «the economic and investment commission parliamentary hosted Sunday, (*) the CBI director on the Keywords, and they discussed issues concerning the provision of liquidity and increase demand for the dollar as well as the disparity in the exchange rate».

 (*) She said that Hamdi «Keywords stressed that the process of handling these things, where they will be printed new financial category worth fifty thousand dinars», indicating that (*) «Bank for printing percent category thousand dinars to later». THIS STATEMENT HERE IS DOUBLE SPEAK TOO! PRINTING THOUSAND DINARS???   WAITING TILL LATER????     IS THAT THE 50 OR 100,000 OR ARE THEY TALKING ABOUT SOMETHING THEY HAVEN'T EVEN DETAILED YET AS IN A 1000 ID NOTE???

 (*) She Hamdi that «the central bank can not delete the zeros because of the current situation and the unstable Iraqi economy», calling on the central bank to «increase the revenue that will be supplied cash and liquidity and difficult process which eases the burden on the citizen».

 (*) He said the governor of the bank on the Keywords in 3 of last March, said the project to delete the zeros existing project has been put into practice and we gave the green light to start with », adding that« The project needs a period of time may extend to two years or more.

 (*) He accused the central bank, earlier, government bodies obstructing the monetary reform and vowed persecuting, blaming those actors responsible for exposing the financial interests of the country at risk.

http://l-news.net/index.php/economy/78705.html

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Central Bank of Iraq in the process of printing paper 50 000 dinars

[11:19] 15 / May / 05


Erbil, May 5 / May (PNA) - the economic and investment commission in Parliament said that the central bank can not delete the zeros due to the unstable economic situation, as pointed out that the bank regarding the treatment of these things will be printed new financial category worth fifty thousand dinars.

The commission said a member of the Charter of Hamdi, the committee hosted the CBI director on the Keywords, and they discussed issues concerning the provision of liquidity and increase demand for the dollar as well as the disparity in the exchange rate.

She said that Hamdi said he Keywords regarding the treatment of these things, where they will be printed new financial category worth fifty thousand dinars, indicating that the Bank for printing percent category thousand dinars to a later time.

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Wide acceptance for the issuance of large cash categories





5/5/2015

Excluding impact on the purchasing power
BAGHDAD - the joy of pumice
Met printing large cash categories of project by the Central Bank acclaimed by experts in the economy, Adin him part of the monetary reforms that support the country's economy. The Governor of the Central Bank had announced during Tadhaifa by the economic and investment commission in Parliament yesterday that the bank in the process of printing new financial category value of 50 000 dinars to enhance the efficiency of the payments system.
The Economic expert d. The appearance of Mohammed in favor of this approach, noting that the country needs large cash price categories because of the configuration in Iraq, as it is dealt format (10) 12, any deal trillions, as well as handle very large blocks of cash in the country any cash payments represented more than monetary instruments and cards and electronic payment. According to Saleh in his statement the "morning" that these trends are not related to monetary policy, but rather to increase the efficiency of the payments system management (cash management policy), where he will be short of money amounts, especially as the large categories account for 90 percent of the money supply in circulation.
He explained how put these large groups, saying it is asking the same monthly amount of the money supply to the market, but in different categories, either small groups or large, and not increase the amount of the original, considering that this project is part of the reforms that support the economic side in Iraq.
As for the fear of some of the cause in the case of inflation due to the introduction of new monetary categories, Fastbad favor of it, explaining that the central bank "does not lend" the government, either in the event of lending it to the government and the issuance of large cash categories could cause inflation and the decline in prices, as the country suffering from a contraction in liquidity for the currencies of the dinar and the dollar, especially as the currency bloc in Iraq less than 40 trillion Danar.otsud beliefs in the community impact of printed denominations in purchasing power and rising commodity and freight rates, but the observers and specialists economists refuted these beliefs, stressing that no a direct impact on the citizens, but rather improves the efficiency of the payments system is in the interest of the country economically, especially in light of the circumstances that are currently going through.
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Central Bank of Iraq to print 50 000 dinars currency

Tuesday, 05 May 2015 11:16

http://english.shafaaq.com/business/14240-central-bank-of-iraq-to-print-50-000-dinars-currency.htmlShafaq News / The parliamentary economic and investment commission said that the Central Bank of Iraq (CBI) cannot delete the zeros due to the unstable economic situation,

as pointed out that the bank will solve these problems and will print a new financial banknotes worth 50 000 dinars.

“The commission hosted the CBI director , Ali al-Alaq and they discussed issues concerning the provision of liquidity and increase demand for the dollar as well as the disparity in the exchange rate,” The commission’s member , Methaq Hamdi, stated in an interview for Shafaq News.

Hamdi said that al-Alaq is regarding these issues, as a new financial banknote of 50 000 dinars will be printed , indicating that the Bank delayed printing 100 000 dinars further.

http://english.shafaaq.com/business/14240-central-bank-of-iraq-to-print-50-000-dinars-currency.html



June 15th 2015  Rev - 1
Subpages (1): Central Bank Related I
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