Economic Commission: Proportion of counterfeit currency in Iraq least in the world
Posted: February 22, 2012
TUESDAY, FEBRUARY 21, 2012
The Commission on economy and investment representative, Tuesday,
that the counterfeit currency in circulation in Iraq is “the least”
compared to the proportions existing in the countries of the world,
pointing out that the central bank “failed” the measures taken to reduce
the price of hard currency in front of the Iraqi dinar.
A member of the Committee of Economy and Investment Abdul Hussein
Abtan in an interview with “Twilight News” that his committee “reviewed
the details of the issue of counterfeit currency, and found that the
ratio existing in the country is much lower than the rest of the world,”
stressing that “no country is free from counterfeit currency, but with
varying proportions. “
The Abtan that “the central bank has taken measures to reduce the
price of the dollar against the Iraqi dinar, but the results were on the
contrary,” noting that “the Commission demanded that the central bank
to take new steps to address this matter.”
He accused the Member of the economy and investment did not identify
points of being behind the deployment of counterfeit currency and
promote them.
The Committee on the economy and investment representative had met on
Monday with representatives of the central bank to stand for the
economic conditions in general, and discuss the most important issues
related to the policy of the currency in the country.
The Central Bank of Iraq, the sixth of January, a rise in foreign
currency reserves to $ 60 billion, for the first time in the history of
Iraq, after it was its reserves in 2010 had reached $ 58 billion.
The central bank held the Iraqi daily sessions for buying and selling
foreign currencies with Iraqi banks that fund the traders from the
private sector, excluding public holidays on which depends the World
Bank for these auctions, and the sales either in cash or in the form of
money orders sold out for a commission of certain.
http://bit.ly/z5297e
Saleh: Dinar is covered heavily by $60B in foreign reserves; Goal is to be equal to the dollar
Posted: February 11, 2012
CBI Deputy Governor: Dinar became more like a strong and hard currency
On: Saturday 02/11/2012 12:30
Baghdad (news) .. Commended the deputy governor of the Central Bank
of the appearance of Mohammed that the dinar covered in hard currency by
more than (100%) and not fear him from the vagaries of currencies of
neighboring countries.
Saleh said the Agency (news) said on Saturday: The dinar today has
become a strong and like a hard currency through the Bank’s policy
Central control of the cash raised in the local market.
He explained: that the dinar
covered in hard currency at a rate of more than (100%), and this rare
condition, and has a cash reserve large hard currency than for (60)
billion dollars retained by the face of difficult circumstances that may
occur in the country, giving the power of the dinar against foreign
currency.
He pointed to: that the goal
of central bank policy at the moment is the stability of the exchange
rate of the dinar against the U.S. dollar, but our goal in the long run
be equal to it being a process needs a strong economy and inflation is
low and a cash reserve large .
and it was a member of the
Finance Committee and the representative / National Alliance / Haitham
Jubouri who said it may likely equal to the price of the Iraqi dinar
against the dollar during the next biennium after the implementation of
the project to delete three zeros from the Iraqi currency.
Jubouri said in an earlier statement (the news): The approach
undertaken by the Bank Central retention rate of the dinar against the
dollar during the current indication that monetary policy in the country
able to make the dinar equivalent of the U.S. dollar.
http://bit.ly/zcEjUV
CBI to take a new policy to avoid the dinar exchange rate affected by the neighboring countries
Posted: February 2, 2012
02 February, 2012
Central bank also unveiled a
new policy to avoid the risk of the impact of currencies of neighboring
countries on the Iraqi dinar exchange rate, because it has a cash reserve large hard currency.
And Deputy Governor of the Central Bank of the appearance of Mohammed
Saleh said that the Central Bank has the largest financial reserve of
hard currency in the history of Iraq and $ 60 billion dollars, to face
the difficult circumstances that may pass in the country.
He noted that the Central
Bank of Iraq in control of the local market by injecting liquidity or
withdrawn and has a policy on the near and medium term to avoid the risk
of impact Tdhoramlat neighboring countries to the Iraqi currency.
http://bit.ly/z7NP8K
CBI: The Politics of raising the Iraqi dinar against the dollar will contribute to strengthen the Iraqi economy
Posted: January 30, 2012
Denied the deputy governor of the Central Bank of the appearance of Mohammed Saleh cited
some of the media to remarks from some officials for the failure of the
central bank to raise the Iraqi dinar against the U.S. dollar.
He told all of Iraq [where] that “the Iraqi Central Bank to raise the dinar against the U.S. dollar at the present time is a positive step measured accurately,”
adding that “the statements that dealt with the failure of the Bank in a
political lifting the dinar against the dollar reflects the contract
and hatreds personal.”
.He added that “Iraq has a lot of money and the reports of failure of
the Central Bank in the management firm has no basis in truth,” adding
that “the central bank responsible for managing 130 trillion dinars a
day from Zakho to Basra managed all honesty,” as he described.
He pointed out that “the Central Bank has provided a stable
environment and maintain the stability of the Iraqi market in light of
the political situation is stable,” adding that “in case of failure in
the completion of projects it is not decent load the central bank
responsibility for those failures and wondered about the source of this
statement and is the agenda that stands behind it and what its
objectives??.
The wants and crude oil exported from Iraq resource is the basis of
the national financial income for the country and more than [85%] of the
financial budget of the State.
The Adviser to the Prime Minister for Economic Affairs Abdullah
Al-Hussein Anbuge had criticized earlier in the policy of the Iraqi
Central Bank to lift the Iraqi dinar against the U.S. dollar, “adding
that” the bank did not coordinate with the Economic System in addressing
the situation, “asserting that” those political violate the productive
base in Iraq and that the Iraqi Central Bank to raise the dinar against
the U.S. dollar at the present time is incorrect because it is a real
increase.
I have highlighted in red an important statement near the bottom of this article. As i have stated before, Iraq keeps using this term "activate" in relation to the private sector, industry, agriculture and so on. Activate means to suddenly start something as in push a button, turn on a machine etc. The RV is the only thing that can fulfill this much quoted saying!
Financial committee working to reduce inflation in the 2012 budget
Posted: January 29, 2012
29/01/2012 09:19
Baghdad, January 29 (Rn) – The Finance Committee of the Iraqi Council
of Representatives, on Sunday, it was working to reduce inflation in
the budget in 2012, which is valued at 10 trillion dinars, by expanding
the participation of investment at the expense of operating expenses.
The Central Bank of Iraq, last Tuesday, for the budget deficit in
2012 of 20 trillion Iraqi dinars, or gain of 10% of the gross domestic
product, adding that the budget deficit by default and can be treated
through the stabilization of world oil prices remain above the $ 104.
And inflation is the excessive rise in the general level of prices,
high cash income, as well as high costs and create excessive cash
balances. It is expected to increase inflation in the budget in 2012 due
to continued attention to the operational aspects at the expense of the
investment part of the budget.
Announced that the Finance Committee representative Monday that Iraq
will not need to borrow from the IMF, which is hoped to give Iraq $ 4
billion, while Iraq’s cabinet approved in its emergency meeting in
(05/12/2011) budget in 2012 by $ 100 billion (about 117 trillion Iraqi
dinars) and a deficit of up to $ 13.5 billion (about 17 trillion
dinars).
A member of the Committee Najiba Najib told the Kurdish news agency
(Rn) that “the parliamentary Finance Committee is working to expand the
options of inflation in the budget in 2012 through work on the grant of
gravity of the investment projects at the expense of operational
projects and reduce the excess of government expenditures.”
She explained that “inflation could hit rate to 20 trillion Iraqi
dinars, which could be addressed through the implementation of the
investment plan accurately on the ground,” indicating that “the
investment projects is the only solution to reduce costs through a
program of ambitious investment is working to complete the government
during the budget year 2012 “.
It was hoped that the House proceed to discuss budget items in
preparation for approval, but the emergence of political problems hit
the legislative institution of the kind of inertia.
Najib said and continued “The Finance Committee will approve the
draft budget in 2012 to activate the private sector and regulate the
entry of foreign industries and not to allow goods that can be
manufactured within the country.”
The country has a political crisis triggered by the Iraqi judiciary,
days after the U.S. withdrawal, when it issued an arrest warrant for
Vice President Tareq al-Hashemi, on charges related to leadership
involvement in death squads and cooperation with “terrorism” in addition
to al-Maliki sought to isolate his deputy, Saleh al-Mutlaq.
And raising the Iraqi parliament in the last weeks of its more than
once to a lack of quorum due to the continuing its boycott by the
members of the Iraqi List, which is the second largest parliamentary
bloc.
http://bit.ly/xESYxF
While the below article doesn't mention anything about revaluation, what it does shed light on is that before Iraq can move in a positive direction economically, they have to shed the last item of being confined by chapter 7. They mention at the bottom of this article that "The Iraq when the economic blockade imposed on him in the nineties of
the last century, was placed under Chapter VII of the UN before making
it restricted his actions and financial transactions with foreign
affairs." So in my humble opinion, this action restricted economic development and until it is lifted, Iraq will not step forward into economic independence. Thus no ascension into the WTO, no international banking events, no RV! Do you blame them?
International Banks will only cooperate with banks when CH VII lifts; Currency traders in Iraq will eventually pull out
Posted: January 29, 2012
Economists: hard currency traders are pulling out of Iraq .. The seventh item on the merchant to make deals with banks is sober
On: Sun 01/29/2012 12:32
 Baghdad – He
specialized in the economic importance of removing Iraq from Chapter
VII imposed by the United Nations to give Iraq in general and the Iraqi
trader in particular to deal with the international banks sober and
well-known in the process of Transfer of funds (money orders) when the
importation of goods from abroad, for fear of the vulnerability of Iraqi
funds to money laundering or to embezzlement by shell banks and
informal in most countries of the world, calling the talk (of the Agency
news) to move toward the United Nations to lift the seventh item on the
Iraq.
A member of the Economic Commission MP Nora Salem: The
international banks known not to deal with Iraqi traders they deal in
huge amounts, and Iraq still implies under Chapter VII, they are afraid
of dealing with countries subject to this item.
The Salem in a statement to the Agency ( news) and there is a bold
decision issued by the Economic Committee of the Council of Ministers
established the Bank shareholder participation by local and
international banks in order to facilitate the work of traders and
investors in the process of transferring large sums of money to and from
Iraq, calling for the necessity of applying for the protection of Iraqi
assets from loss, not what happened recently, as we heard that the
merchants of the Kurdistan region have to transfer money to merchants in
Iran, the rejection of one of the banks delivered the pretext that the
traders Kurds did not do the process of transfer of funds, and continued
to be the establishment of the bank and have a large capital allows
investment companies and traders Iraqis abroad transfer money to Iraq.
and called Salem Federal Government and the Parliament to move
towards the lifting of what they called “injustice item VII” for Iraq
that there are many things to Iraq, a parked because of this separation
imposed by the United Nations.
The member of the Economic Commission for Investment: that the Iraqi
trader have a significant role in the bleaching (money laundering) of
the Iraqi funds since it deals with the banks is not an official because
of the Chapter VII imposed on Iraq.
For his part, exclude a member of the Economic Commission Vice Qusay
Fri incidence of money laundering Iraq during the current period,
particularly in Baghdad, the fact that there is strict control by the
central bank to funds that go out and get into the country, but fear the
exposure of funds the Iraqi trader for embezzlement
, said Friday in a statement to the Agency (news): expanded meeting
was held between the Economic Commission representative and the
Department of Money Laundering of the central bank, and notified us of a
central bank with adequate information and the development of
processors sufficient for the emergence of any cases of money laundering
or the like.
Gom’a the absence of the phenomenon to the process of bleaching of
money, but there are operations to drain the difficult process of Iraq
as merchants Iranians and two walls as a result of the deterioration of
their currency because of political turmoil in which they live, stating:
There are traders from Syria
and Iran are withdrawing the dollar from Iraqi banks and local markets,
which led to the depletion of foreign currency in Iraq.
While stressing the economic expert as beautiful on the need to
handle the Iraqi trader with global banks sober and well-known in its
financial transactions for receiving financial guarantees under the
smuggling-money laundering, as a result of conditions the political
situation in the region, particularly in Syria and Iran.
Jameel said in a statement to the Agency (news): Iraq
still under Chapter VII, making the Iraqi trader restricted from
dealing with international banks in the process of turning his money
through the import of commodities and goods from abroad, although
that international banks provide guarantees to enter the goods matching
the specifications and they refused to deal amounts of imports of goods
poor before shipment, calling for the need to lift the seventh item on
Iraq to facilitate financial transactions with international banks.
The economist is that bank credit is a form of systems to ensure the
trader and the source delivery amounts against the shipment of goods
according to the specifications, noting that the Iraqi trader now pay
part of the exaggeration or all of the processed and shipped his goods
without the presence of safeguards and controls on the type of imported
goods to the interior, especially with Iran, which lead to money
laundering operations and other operations outside the law.
in Parallel to that, the Chairman of the Economy Bank Husam Obeid on
the importance of raising Iraq’s Chapter VII as a grant to the Iraqi
banks to deal with the international banks.
Obaid said in a statement
to the Agency (news): Iraq is still shackled to item VII of the UN which
impact on the work of Iraqi banks being given a bad reputation in its
external and international, which led to the refusal of international
banks to deal with Iraqi banks and merchant Iraqi import of goods from
abroad.
and stressed the need to
remove Iraq from Chapter VII because it gives freedom to deal with
international banks in particular countries Representative of the UN
Security Council, calling the move towards the lift for the advancement
of the Iraqi economy and Ttaiwiraml Iraqi banks.
Earlier, The Deputy
Governor of the Central Bank of the appearance of Mohammed Saleh that
the entry of global investment firms to Iraq subject to the exit of Iraq
from Chapter VII, because they are afraid to enter Iraq the
implementation of investment projects.
Salih said in an earlier statement (of the Agency news): The exit of
Iraq from Chapter VII is very necessary for the transfer of foreign
expertise and technological modern in various economic fields, the fact
that Iraq needs a network of international contractors in the
implementation of investment projects.
The benefit of to: that the local contractors who are not
experienced, which led to a delay in the implementation of many
investment projects in the country, indicating that the rate of
implementation of projects per year of (30%) due to lack of experience
and not to transfer technological modern Iraq.
He added that foreign
companies, international contractors are afraid to enter the territory
of Iraq because Iraq is still under Chapter VII and a bad reputation
generated by the item on the peoples imposed on it.
and in favor: that Chapter
VII allows the force and economic sanctions on countries that infringe
on the world peace, stressing that the international community still
believe that Iraq aggressor to world peace.
He continued in saying: It
is assumed at the exit of U.S. troops from Iraq, it gives a signal to
the international community that Iraq is safe and does not need to use
force against him, calling the move towards the United Nations to remove
Iraq from the desk of the seventh item to be a country safe open on the
world.
The Iraq when the economic blockade imposed on him in the nineties of
the last century, was placed under Chapter VII of the UN before making
it restricted his actions and financial transactions with foreign
affairs.
http://bit.ly/wyfdhf
PM’s Economic Advisor criticizes the policy of the CBI to raise the dinar against the dollar
Posted: January 28, 2012 in Iraqi Dinar/Politics, Top Headlines
Tags: Central bank, Central Bank Iraq, Currency, exchange rate, Iraq, Iraqi Central Bank, Iraqi dinar, March 2004
28.01.2012 Sumerian News / Baghdad criticized the Adviser to the
Prime Minister for Economic Affairs Abdul Hussein Al-Anbuge, Saturday,
the Iraqi Central Bank’s policy to lift the Iraqi dinar against the U.S.
dollar, while noting that the bank had not coordinated with the
Economic System in addressing the situation, saying that such policy
violates the productive base in Iraq.
said Abdul Hussein Al-Anbuge in an interview for “Alsumaria News”, “the Iraqi Central Bank to raise the dinar against the U.S. dollar at the present time is true that the rise is real,” noting that “the image of the Iraqi economy is reflected in the exchange rate of the dinar.”
and added Anbuge “Raising the price of the Iraqi dinar look like this
now will help to promote the phenomenon of economic rent because it
will make imports cheaper and thus lead to a deepening of this
phenomenon,” adding that “the phenomenon You will feel the citizen that
he should remain imports which are not the productive base in the Iraqi
economy, which seeks to get to the economic development in all other
sectors. “
He Anbuge that “the Bank in this way serves to protect the foreign
product at the expense of the local product,” pointing out that “the
bank did not coordinate with the system policies of other economic in
addressing the economic situation in Iraq. “
The Anbuge that “there is a misconception to the issue of
independence by the Central Bank of Iraq, which does not usually mean
that the decisions taken far from the interests of the economy, which is
supposed to be ruling in that.” , asserting that “monetary policy is a
policy adapted to the economic policies of the other.” and had
previously objected to an adviser to Prime Minister for Economic Affairs
Abdullah Al-Hussein Anbuge the policy of the Iraqi Central Bank, which
aims to cancel the deletion of three zeros from the Iraqi dinar and the
currency exchange, noting that it would cause great mischief.
He was Deputy Governor of the Central Bank of the appearance of
Mohammed Saleh announced in an interview for “Alsumaria News”, in the 19
of January in the current, for he raised the price of the Iraqi dinar
against the dollar during the sessions for the sale and purchase of
foreign currency at the rate of four dinars, indicating that dinar
nominal is not commensurate with the purchasing power to him or the real
price of the exchange rate of the dinar against the dollar.
It is noteworthy that the CBI is being daily sessions for the sale
and purchase of foreign currencies with the exception of public holidays
which stops the bank from those auctions, is the Central Bank of Iraq
under its law of the sixth of March of 2004, which refers to him as an
independent body which is responsible for maintaining price stability
and the implementation of monetary policy, including exchange rate
policies and management of foreign reserves and the issuance of currency
management, as well as to regulate the banking sector to promote the
financial system competitive and independent.
http://bit.ly/xsmnl3
Editorial: Do you delete the zeros is the solution or create a new problem or an economic futility
I will make an effort to interpret Google's badly translated verbiage!
Posted: January 25, 2012 in Iraqi Dinar/Politics
We do not know how came the idea to delete the zeros has not
changed the currency to replace the word was the word to delete the
zeros is less severe and resistant to change of a word to replace the
coin.
This economist is saying he doesn't know who's idea it was to delete the three zeros and eludes to wording changes even on the coins.
That have proved their purchasing power and who is behind this absurd
economic Sazelzel Iraqi currency after it saw the light and recovered
it is an economic plan for foreign countries or domestic destinations
purpose of which is their money laundering and curb runaway Iraqi dinar,
which began publishing Above I believe he is saying when the idea first came to light, it seemed like an economic recovery plan for domestic purposes and foreign countries that ran away with the Dinar.
Power and influence in the region and who are the leaders of the
replacement and why this insistence on the replacement amnesty to delete
the zeros increased in recent media statements of politicians,
journalists and professionals from the financial experts and economists
about the strategy to delete the zeros between the opposition and pro
adopted by the Central Bank of Iraq in order to be defined more
accurately must ask the following questions and answer them Leaders of power and influence in the region have given amnesty to Iraq and at the same time insist on it deleting the three zero's. While statements by politicians, journalists and professionals from the financial sector have strategized about the pro's and con's of the project. He's saying they must ask themselves these questions.
1- Is the replacement process increases the purchasing power of the Iraqi dinar Will the process increase the purchasing power of the Iraqi Dinar?
2- Is the new version reduces the money supply. Will it reduce the money supply?
3- Is the new version needs to coin metal cash and categories of the largest What does the new currency need to be as far as metal coins, notes and categories for their value?
4- Is the new version affects the traded commodities, fixed, especially real estate How does the project affect fixed and traded commodities and especially real estate?
5- – Is the currency caused the current economic problem at the moment and must be changed Is the current currency causing an economic problem and if so, why must it be changed?
6- Is the new version accompanied by corruption How would the new currency be affected by corruption?
In order to answer these questions must know that there are several
other major countries are to have the same zeros in the currency did not
constitute a hindrance or have any economic problem. أن
In order to answer some of these questions, just look at the other major countries who have done the same thing and did not have any economic hindrances or problems.
To answer the first question is that the process of replacing the
currency increases the purchasing power of the new Iraqi dinars. In answering the first question, the replacement of the currency will increase the purchasing power of the Dinar.
That any replacement of the coin, at least accompanied by economic
benefits, accompanied by a feasibility study and financial and monetary,
social and psychological process of offering new currency replace the
other currency is not marred by anything, but must put a strong currency
any have purchasing power of her employer can not be falsified need to
pause and less estimate the contribution of the new currency to increase
the power of the Iraqi dinar in the short term or long term, but after
asking many professionals in the field of economics, monetary, fiscal
and banking response was that the process of replacing the currency does
not increase the purchasing power of the Iraqi dinar new and this was
confirmed by the appearance of Dr. Vice-President of the Central Bank in
a seminar about deleting the zeroes in the College of Management and
Economics at the University of Qadisiya, also confirmed by Dr. Ahmed
Bureihi economics professor, deputy central bank earlier this case must
stand up and focus and think deeply if the replacement process does not
have any relationship is not directly or indirectly to increase the
purchasing power of the Iraqi dinar Any replacement of the coin will be accompanied by economic benefits, because it was accompanied by a feasibility study that showed the financial, monetary, social, and psychological affects that were positive. It showed that the implementation of the currency would contribute to an increase in purchasing power in both the short and the long term. But some of the financial professionals claimed that replacing the currency would not increase its purchasing power which was confirmed by Dr Qadisiya, Vice-President of the Central Bank and Dr. Ahmed Bureihi an economics professor of the Central Bank. He says in either case it must stand on its own and be deeply thought about whether the project/process will directly or indirectly increase the purchasing power of the Dinar!
So there will be a backfire, according to my modest opinion that the
replacement process will reduce the purchasing power of the Iraqi dinar
because of the psychological factor that would accompany the switch and
this was confirmed by Mr. adviser to Prime Minister Dr. Abdul Hussein
Al-Anbuge when hosted in the Economic Committee in the Iraqi Council of
Representatives and was his bold and I add my opinion to his opinion and
this produces when you switch the product price was very high in
numbers at a lower price would create a psychological condition in
clinging to price up or huge figure and this will lead to increased
prices of products traded by 2% to 5%, while the goods fixed 5% to 15% He is insinuating the project could back fire because of the psychological affect accompanying the switch in currency and that this will cause a reduction in the purchasing power of the Dinar because of the market reaction that will cause traders prices to rise by 2% to 5% and fixed goods by 5% to 15%.
If I want to address this increase, it needs to five years, at least
if used monetary policy and media are excellent and that will lead us to
the purchasing power at today’s prices and this part of the economic
logic and philosophy of administrative, financial and cash is not
acceptable and stand seriously the direction of this process in the
Iraqi Parliament and the Economic and all the political blocs .
He thinks this process needs five years to implement and that media promotion and monetary policies need to go hand in hand and then it will logically lead to an increase in the purchasing power of the Dinar and that the Iraqi Parliament and political blocs aren't accepting this.
So we conclude that the new version does not increase the purchasing power of the new Iraqi dinars.
The second question: Is the version of the new money reduces the mass
of cash or the volume of money the answer is very easy because the
process is never reduce mass cash as possible to reduce to a year or
two, but the process of all is simply the process of replacing paper
money with another example, a ten thousand change the category of the
ten dinar. In the above statement he is saying that this will not reduce the money supply because there would be a one to one replacement of the notes.
Thus, for the rest and here would be an increase in the money supply
additional metal is the main purpose of the switch. we conclude that the
monetary mass is increasing with the new version in the shorter. So the mass of cash in society is actually increasing in the short term because of this, including the coins.
Question three: Is the version you need to minting currency, metal
and categories of low-value production more than the value used in
addition to carrying the Central Bank of the costs of population and
currency printing the new and the costs of the Damage the old currency
and the replacement process and the cost of others pending concern the
banks, management and staff and this needs time and time itself, the
cost and paperwork, and others So for the new currency, they need to mint coins, and lower note categories and that will cause them to be of a value lower than what is being used and that the costs of this process are high and they need time to do all this because of the costs.
Will create problems, especially with instruments, etc. These costs
very large it not better to bring these costs for the development of the
banking sector is not it more appropriate that we develop our banks to
become internationally certified instead of the bank per a
TBI-Government banking and trade with the world is not it supposed to
develop the Banking and access to deal-mail instead of rely on old ways
most of the banks in Iraq and improve it He's saying that with these costs they need to develop the banking sectors so they can become internationally recognized and certified to be able to trade with the world instead of relying on the old ways of doing things.
if the central bank was able to actually make the new Iraqi dinar is
equal to the dollar at the rate we are all with the replacement of the
Iraqi dinar as the currency has become a strong and corresponds to the
dollar. If the Central Bank was able to make the value of the Dinar equal to the dollar then the Dinar would become strong like the dollar.
Fourth question: After the review of financial experts has been asked
Is the new version affects the traded commodities, fixed, especially
real estate After the financial experts reviewed the situation, they were asked how it would affect the market.
The answer was that the goods fixed prices will rise relatively These
linked at the psychological factor, especially if given the replacement
process a longer period, for example if a property value 100000000
hundred million van when the replacement will be 100,000 hundred
thousand dinars, the seller will sell at $ 120,000 or more or a little
less this increase sends reassuring here will be accompanied by
psychological and Stock Exchange real estate slowdown in the early
years. The answer to the fourth question is that goods prices will rise relative to the psychological factor. especially if the replacement period is long. Compare a property value at 100,000,000 with a replacement value of 100,000 then the seller will psychologically try to sell at 120,000 or more because of the psychological affect of the currency replacement.
Question V: Is the current currency caused the problem at the moment
it needs to be replaced with the large difference between the current
currency and the currency of the former regime, which replaced the issue
Iraqi dinars new October 15, 2003 to January 15, 2004 This was the
currency printed in the Press Dallarro in Britain and was printed with
good specifications are difficult to falsify were used in all parts of
Iraq including the Kurdistan region in northern Iraq and has a currency
exchange where the Replace each dinars printed in Iraq or China dinar
new Iraqi. note that there is convergence between the process of
replacement in 2004 and 2013 in terms of time, note that the currency
Current currency is good and not subject to fraud and earned the trust
and confidence of all its citizens and businesses of all kinds
authorized the replacement for what or what is the reason that leads us
to replace
The current currency that replaced the older Saddam era currency was issued between October 15th of 2003 and January 15th of 2004 and printed in Britain. It was printed with good specifications and difficult to falsify and was used in all parts of Iraq including the Kurdistan region where they replaced the currency that was printed in Iraq and China. So it is not subject to fraud and earned the trust of the government, businesses and the people. So what leads us to the reason to replace it?
Question VI: The process of administrative and financial corruption
has become rampant in most state institutions, as well as banks are not
free of this process is the person who ensures that the manipulation and
fraud and corruption when replacing the new currency there are more
than 800 bank in Iraq, if 10% of them where there is corruption there 80
How the Bank will control this process and there is fear of replacement
by new counterfeit currency, which will lead to inflation, the currency
in terms of money supply and the replacement process more than the true
figure of the old criticism. But the controversial what is the use of
the replacement process if they do not increase the purchasing power
does not exceed the discharge of the Iraqi dinar against the dollar and
the other hand, bear the cost of minting coin and paper currency and
need machines and foreign companies to print and address fraud and
corruption, administrative and financial problems of individuals and the
costs and psychological effort effort of the people for the replacement
process not to mention the social problems reflect the replacement
process first replaced by the currency where replaced in the currency of
good difficult to forge and had a value greater than the purchasing
power and a good example of the rate of exchange the Iraqi dinar was
more powerful when the replacement was an urgent need to switch because
of the form of currency is desired by the citizens of the replacement
process was successful but the process of replacing today’s need to
Tignes Administrative and financial corruption are rampant in most state institutions as well as banks and they need to assure there is no corruption in the replacement of the currency. With more than 800 banks in Iraq, if even 10% of them allow currency fraud, how could this process be controlled and it would lead to inflation and criticism. But the argument is, what is the use of replacing the current currency if it doesn't lead to more purchasing power of the Dinar against the dollar and help bare the brunt of the costs of the purchase of the equipment and minting and printing of the new currency? This would cause social problems and it would be hard to effectually raise the purchasing power of the Dinar. When the old currency was replaced,there was an urgent need to do it because it was desired by the citizens and it was successful, but today's need is not the same.
Was the answer to a specialist in this area that the replacement
process has the advantage of only one is to reduce the zeros from the
currency will lead to minimize accounting errors which it is located as a
result of the large numbers of accountants in the accounting and
banking transactions than those who confuse this work.
The only answer we have to the current need for the replacement is the advantage to accountants who's needs are to make less mistakes in the confusion that is caused by so many zero's in the process of keeping records.
This in itself is condemned by the Iraqi Accountant Is it conceivable
that the staff of the accounts in Iraq depends mathematical reasoning
and arithmetic have increased because of the zeros and zeros if you omit
this accountant will be smarter this idea Ibkhst the right of the Iraqi
accountant who knew the language of figures of all peoples.
The Iraqi accountant condemns this move, but at the same time by not doing it, it causes accountants to have to use more reasoning and arithmetic because of the zeros. So if you omit the zeros, the accountant can work smarter who knows the language of the people.
But the bottom line is the final beneficiary of the replacement
process and is it a political interest or the interest of the Qaúmin
process switch. And governance of the Iraqi people. The bottom line now and final question is, who will benefit from this replacement process? Is it a political interest or just currency switch, or is it for the governance of the Iraqi people?
The God of the intent behind
Attorney / Professor Dr. Yusuf al-Tai
***No contractor wants to
work in Iraq under the current conditions, they can't get paid
electronically, so they would have to ship crates of cash in and out for
debts and payments. There's a big problem with security. ***
Central Bank calls for serious action government to get out of Chapter VII |  بتاريخ : الإثنين 16-01-2012 06:40 صباحا Date: Mon 01/16/2012 6:40 |
|
□ بغداد/ المدى □ Baghdad / term
دعا
نائب محافظ البنك المركزي مظهر محمد صالح الحكومة الى التحرك على المستوى
الدولي لرفع البلد من طائلة البند السابع من أجل تهيئة المناخ المناسب
لدخول الشركات العالمية الكبرى. Meanwhile, deputy governor of the
Central Bank of the appearance of Mohammed for the government to take
action at the international level to raise the country from Chapter VII
in order to create the right climate for the entry of major global
companies.
وقال
صالح (للوكالة الاخبارية للانباء) : إن خروج العراق من البند السابع ضروري
جداً لنقل الخبرات الاجنبية والتكنولوجية الحديثة في شتى المجالات
الاقتصادية، كون العراق بحاجة الى شبكة من المقاولين الدوليين لتنفيذ
مشاريعه الاستثمارية. Saleh said (of the Agency news): The exit of
Iraq from Chapter VII is essential for the transfer of foreign
expertise and modern technological in various economic fields, the fact
that Iraq needs a network of international contractors for the
implementation of investment projects. واضاف
أن المقاولين المحليين هم ليسوا ذوو خبرة واسعة، مما أدى الى تأخر تنفيذ
الكثير من المشاريع الاستثمارية في البلد، موضحاً، أن نسبة تنفيذ المشاريع
سنوياً تبلغ (30%) نتيجة قلة الخبرة وعدم نقل التكنولوجية الحديثة الى
العراق. He added that local contractors are not people with
extensive experience, which led to a delay in the implementation of many
investment projects in the country, explaining that the rate of
implementation of projects per year (30%) due to lack of experience and
not to transfer modern technology to Iraq.
وتابع
: إن الشركات الاجنبية العالمية للمقاولين تتردد أيضاً من الدخول الى
العراق لأنه ما زال تحت البند السابع ذو السمعة السيئة على الشعوب المفروض
عليها. He continued that the foreign companies, international
contractors are also reluctant to enter Iraq because it is still under
Chapter VII with a bad reputation on people imposed on it. وأوضح
أن البند السابع يبيح استخدام القوة والمقاطعة الاقتصادية على البلدان
التي تعتدي على السلام العالمي، وأن المجتمع الدولي مابرح يعتقد بأن العراق
معتد على السلام العالمي. He explained that Chapter VII allows
the use of force and economic sanctions on countries that infringe on
the world peace, and that the international community Mibrh believed
that Iraq was an aggressor to world peace. وبين
أن الحكومة العراقية عليها العمل بقوة على تطمين المجتمع الدولي بأن البلد
آمن ولا حاجة لاستخدام القوة ضده، بعد خروج القوات الأميركية. And
that the Iraqi government should work hard to reassure the international
community that the country is safe and does not need to use force
against him, after the departure of U.S. troops. |
|
Geithner urges more currency flexibility
U.S. Treasury Secretary Timothy Geithner (L)
speaks next to Japan's Finance Minister Jun Azumi during their joint
news conference at the Finance Ministry in Tokyo January 12, 2012.
Credit: Reuters/Toru Hanai
Thu Jan 12, 2012 11:38am EST
(Reuters) - Treasury Secretary Timothy Geithner said on Thursday that key emerging-market nations must let their currencies rise in value in order permit more stable global growth.
In an interview in Tokyo with Japanese broadcaster NHK, Geithner appeared to refer to China when he spoke about the role of emerging market countries in creating a more stable monetary system. "You
want to see those currencies continue to reflect the substantial upward
pressure you're seeing in fundamental economic forces that are going to
push them gradually to appreciate and strengthen against the dollar,
the yen and the euro," he said. "It's going to have to continue on a sustained basis." Geithner
was wrapping up a quick visit to Beijing and Tokyo that was principally
aimed at soliciting cooperation in tightening sanctions against Iran to curb its disputed nuclear program. Geithner
was asked whether the International Monetary Fund should play a larger
role in helping the Euro zone countries deal with their debt crisis. He
said the IMF was already helping and Europe needs to get a grip on its
own problems. "We have a very good
record of moving very, very quickly to make it possible for the IMF to
do what it needs to do to help its member states but we have to make
sure that Europe moves first and gives the world something that the
world can support," Geithner said. (Reporting By Glenn Somerville; Editing by Andrew Hay)
Canceling Iraqi currency’s Zeroes discussed – MP Iraqi Dinar Revaluation - File Photo
Friday, January 13, 2012
BAGHDAD
/ IraqiNews.com: Iraqi Parliamentary Economic Commission MP disclosed
that discussions were conducted with the Central Bank of Iraq the
cancellation of the zeroes from Iraqi currency. MP Aziz Shareef
al-Mayahi added that detailed discussions were held today with economic
experts. The commission will study the suggestions in order to reach a
suitable response on this question, he added. Other economic topics were
discussed, like inflation and means to minimize its effects on Iraqi
economy.
Jubouri calls the central bank to raise the value of Iraqi dinar against the U.S. dollar exchange rate
Posted: January 8, 2012
08/01/2012 11:29:00
The independent Iraqi news agency / Baghdad / p. X … A member of a
coalition of state law, the Attorney Haitham Jubouri that the Iraqi
currency Recent big fluctuations experienced a significant decline in
the price of the Iraqi dinar against the U.S. dollar and the economic
disaster that threatens to inflict damage to all citizens and called the
Central Bank to work to raise the value of Iraqi dinar against the U.S.
dollar exchange rate.
He Jubouri reporter (independent Iraqi news agency) that the central
bank should take its role in this matter as the issue price of the dinar
based on supply and demand and therefore must move toward maintaining
the value of Iraqi dinar and U.S. dollar equivalence.
He added that it is necessary Jubouri do no harm to the Iraqi dinar
and the national economy as a whole. Before the adoption of the budget
in 2012 of the budget to be determined properly.
He pointed out that the currency fluctuation prices bear the central bank and traders …
http://bit.ly/yQPmZr
University of Qadisiyah to host symposium on deletion of zeros from the Iraqi currency
Posted: December 25, 2011
2011-12-25 14:33:45
Diwaniyah (Iba) .. Organized by the Faculty of Management and
Economics at the University of Qadisiyah, specialized scientific
symposium for the deletion of zeros from the Iraqi currency and its
implications in the Iraqi economy.
A source at the university, said the seminar included a lecture
entitled to delete the zeros of the Iraqi currency and raised on the
Iraqi economy delivered by the Deputy Governor of Central Bank of Iraq,
Dr. the appearance of favor in which he discussed the importance of
money and the impact of conditions in Iraq on the economy, noting that
the Iraqi economy was Mekpottafa under the previous regime because
Aharopoanhiar the infrastructure.
The source added that the
deputy central bank governor said steps include replacement Declaration
of the state budget and write all the accounting records and bank
currency Aljdidhmodha that the process of replacing the currency will be
extended to two years as well as the process of destruction of the old
currency will be held at the Central Bank of Iraq.
http://bit.ly/cmwh6b
Finance confirmed that the advance percent salary benefits not covered by the drop
Posted: December 18, 2011 in Iraqi Dinar/Politics
Tags: Iraq
The Ministry of Finance of Iraq, Saturday, to advance percent
salary for state employees not covered by dropping interest rates, while
ruling out replacing Iraqi currency during the next two years.
The Finance Minister Rafie al-Issawi said in an interview for
“Alsumaria News”, “advance percent salary for State employees will not
be covered by dropping the interest is of 8%,” attributing the cause to
“link the Rafidain and Rasheed Man stirring advance is Baidaat the
public.”
Issawi said that “banks are pushing the benefits of 6% of the
citizens of depositors have and therefore, they are not able to lend to
employees without the benefit of,” noting that “the loans covered by
dropping the interest is included loans of Agricultural Bank and
Mortgage and Housing Fund and retroactively.”
He said al-Issawi that “the Iraqi budget for next year 2012, and
developed a material that exempting all borrowers from the bank and
agricultural real estate and housing fund of interest in order to
encourage construction of housing units and the elimination of the
housing crisis in Iraq.”
And approved the Iraqi Council of Ministers on the eighth of December
the current budget next year 2012, of 117 trillion dinars and a deficit
of 14 trillion dinars, while the operating budget 80 trillion dinars
and 37 dinars trillion as investment budget.
The Ministry of Finance has decided since 2008, and through the
Rafidain and Rasheed, in coordination with the ministries and government
departments grant advances and loans to staff different, but less than
the staff member for five years in accordance with the conditions and
controls specific to that, that does not exceed the loan of 50 million
and an interest rate of 8 percent on the repayable over ten years.
In another context, the
Secretary of Finance “to replace the current Iraqi currency with new
ones during the next two years because of the Economic Commission not to
adopt the draft of the new currency provided by the Central Bank of
Iraq to delete the zeros and issuing forms for the new currency.”
The Deputy Governor of the
Central Bank of Iraq predicted the appearance of Mohammed Saleh in an
interview for “Alsumaria News”, in September of this year, that is the
currency exchange in the new fiscal year for the year 2013.
The Iraqi Central Bank
Governor Sinan Shabibi confirmed at a meeting of independent bodies with
Prime Minister Nuri al-Maliki, in the 19 of June, ready to create all
the supplies to replace the Iraqi currency.
http://bit.ly/vM1mkV
Deputy in the Finance Committee: Currency to equal the USD during the next biennium
Posted: December 11, 2011 in Iraqi Dinar/Politics
On: Sun 12/11/2011 12:19
Baghdad (news) .. Most likely a member of the Finance Committee and
the representative / National Alliance / Haitham Jubouri
Sarraldenaralaraca equal to the U.S. dollar during the next biennium
(two years) after the implementation of the project to delete three
zeros from the Iraqi currency.
Jubouri said in a statement to the Agency (news) said on Sunday: that
the approach that the Central Bank of Iraq’s retention rate Dinaromam
dollar during the current period, it Maharidl that monetary policy in
Iraq is able to make the Iraqi dinar is equal to the U.S. dollar “any
Dinaraluahd matched by one dollar .
He pointed to: that this was retained by
selling huge amounts of dollars at auction, and inject them into some
other Iraqi banks to control the price of the Iraqi dinar against the
dollar.
He Jubouri the next biennium will see a different direction with the
central bank to make Aldenarabraghi equal to the dollar through the pump
Okbermn dollar and sell it at auction project to delete
Alocefaralthelat of the Iraqi currency as it makes the size of the Iraqi
currency Bakdralamlh the U.S., and continued: Therefore, the citizen
and the Altagralaraca does not need to replace Atarand his money to buy a
commodity or a car or Other, confirming that the draft deleted
Alasfaralthelat currency “based”, and issued its decision, irreversible
and started his first steps will be implemented during the next two
years from now.
Zkredo and Finance Committee that the Central Bank of Iraq will
continue its policy to support Aldenarabraghi, expected next year, the
Iraqi dinar will remain conservative on the price front
Aldolarralomirka.
Earlier, the parliamentary financial Eliminated Edwalganh and MP /
Kurdistan Alliance / Najiba Najib increase Sarraldenaralaraca to the
Dollar over the next year as a result of the Iraqi economy is still
dependent on oil revenues annually.
Najib said in an earlier statement (of the Agency news): I expect
during the year (2012) retained Aldenarabraghi its price against the
U.S. dollar did not increase its value the fact that Iraq continues its
economy unilaterally dependent on oil Baaradath annual.
The answer: If the government wants the federal and relevant state of
Iraq to make a strong Aldenarabraghi toward foreign currencies, it
should consider how to strengthen the Iraqi economy and its diversity
through the activation of all economic sectors in the country
http://bit.ly/rGqWq3
Iraq discusses the issue of a new exit from Chapter VII
Posted: December 4, 2011 in Iraqi Dinar/Politics
 In
the light of the visit of Prime Minister Nuri al-Maliki’s visit to
Washington is clear that the visit mentioned will not focus on any of
the topics circle in the orbit of political analysts, as well as the
people of withdrawal and the implications beyond the readiness of our
military and security to the surprises after the departure of the
Americans where will these things be discussed between the parties of
Iraq and the U.S..
The rest will be on what is being revealed from leaked news that the
Prime Minister will hold up his sleeve other issues will be over the
discussion The results will remain under Baldharov According to the
subscriptions may make this or that party and governed originally Pfjoy
agreements intended between Iraq and Washington, which regulates the
relations of two countries, which was It’s going to take such economic
talks in general.
Upcoming
visit may have something else, will discuss the fate of Iraqi funds
abroad, and the foundations of protection, especially as Iraq is still
under Chapter VII of the Charter of the United Nations and the words, You are disclosed under the tutelage ..
From here the Prime Minister also discussed the importance and the need
to get out of Iraq this item for a full-fledged hit him in the
decision-making from national terrestrial and independence. Economic
Aspects, therefore, is the axis that will take place by the central as
well as the visit of Mr. al-Maliki on the subject of the development of
the Iraqi banking transactions, which we believe will give the prestige
of the Iraqi dinar as well as other foreign currencies after the level
of the Iraqi currency has seen a sharp decline in global stock exchange.
And the importance of these aspects that are related to existential
situation of the Iraqi market and to find factors that promote national
and supportive … Which makes it easier for investors to contribute to
trends in development and rehabilitation of infrastructure .
http://bit.ly/rYgSkz
Economist: delete the zeros and replacing negative currency effects at | بتاريخ : السبت 26-11-2011 12:57 مساء On: Sat 11/26/2011 12: |
|
 بغداد
(الاخبارية)..حذر الخبير الاقتصادي أسعد العاقولي من استبدال العملة دون
العمل على دراسة بشكل دقيق من جميع جوانبه، مؤكداَ أن ذلك سيكلف ميزانية
الدولة مبالغ كبيرة، في وقتٍ توجد ردود أفعال واسعة بين الأوساط الاقتصادية
والمالية رفضت هذه العملية بشكلها الحالي، وتاثيراتها على الأسواق.
Baghdad (news) ..'s chief economist happiest bugsbunny of replacing the
currency without working on the study accurately in all its aspects, (without revaluing) (sic)
emphasizing that it would cost the state budget large sums at a time
when there are reactions and wide between the economic and financial
circles rejected this process in its current form, and their effects on
the markets.
وقال
العاقولي(للوكالة الاخبارية للانباء) اليوم السبت:إن عملية حذف الأصفار
واستبدال العملة ستكون لها أثار سلبية على الاقتصاد العراقي، لافتاً الى أن
عملية رفع الأصفار تحتاج الى استبدال شكل العملة مما يعني تأثيرها على
الاقتصاد العراقي وميزانية الدولة. The bugsbunny (of the Agency
news) on Saturday: The process of deleting the zeros and replacing the
currency will have negative effects on the Iraqi economy, pointing out
that the process of raising the zeros need to replace the form of
currency, which means its impact on the Iraqi economy and state budget.
وبين
العاقولي: أن الاقتصاد العراقي حالياً يعاني من مشاكل عديدة واستبدال
العملة ستكون له نتائج سلبية في هذا الجانب، كما أن من السابق لأوانه
الشروع بتنفيذ هذه العملية في ظل الظروف الاقتصادية الحرجة الحالية،
وتابع: السوق يتاثر بالوضع الاقتصادي العام للبلد واي خطوة غير ناجحة ستؤدي
الى مشاكل أخرى، لاسيما أن البنك المركزي العراقي قد أعلن أن قرار رفع
الأصفار من العملة العراقية مُتخذ لكنه يحتاج الى عمل ميداني. And
bugsbunny: that the Iraqi economy is currently suffering from many
problems and the replacement of the currency will have negative results
in this aspect, as it is too early to begin the implementation of this
process in the economic circumstances of critical current, and
continued: the market is influenced by the general economic situation of
the country and any step is successful will to other problems,
especially since the Central Bank of Iraq has declared that the decision
to raise zeros from the Iraqi currency maker, but he needs to field
work.
يذكر
أن مستشارالبنك المركزي مظهر محمد صالح في تصريح سابق(للاخبارية):أن قرار
رفع الاصفار من العملة العراقية مُتخذ ولكنه يحتاج الى عمل ميداني على
مستوى المصارف والحسابات الدولية أضافة الى سحب العملة القديمة، وأن العمل
الميداني مهم لأتمام مثل هذه الخطوة كونها تحتاج الى تهيئة المصارف للتعامل
مع الأجهزة المختصة بالعملة الجديدة./انتهى/12.ن.ص/ The
Mscharalpennek appearance of the central Mohammed Saleh in an earlier
statement (the news) that the decision to raise zeros from the Iraqi
currency maker, but it needs to field work at the level of banks and
international accounts, the retirement of the old currency, and that
field work is important for the completion of such a step being the need
to create banks to deal with the competent organs of the new currency. /
End / 12. n. r / |
Iraq: Iraqi dinar is stronger currencies Arab region
Posted: November 28, 2011
25/11/2011
The dawn of the Iraqi Central Bank economic surprise announcement
that the Deputy Governor Reserve Bank’s foreign currency amounted to
about sixty billion dollars, the highest on Iraq.
This announcement was commonly denied or that the common problems in
Iraq permanently, but encompassed the other surprise is that any
currency dinar has become one of the strongest currencies in the region
including the Gulf currency, according to contexts of monetary policy.
We will try in this episode, that translate to the Iraqi citizen How will this surprise on his daily life.
http://bit.ly/uLDw48
Posted on 11 November 2011. Tags: dinar, forex, IQD, iraqi dinar, re-denomination, re-valuation, Redenomination, revaluation, video A local newspaper in Georgia, USA, reports that some local residents are buying Iraqi dinars in cash form, in the hope of profiting from a revaluation of the currency. According
to the Moultrie Observer, people are buying boxes of crisp Iraqi dinars
that look fresh off the printing press. It goes on to quote a local
commodities trader as saying he could possibly think of worse
investments than Iraqi money at this time, but would be hard pressed to
do so: “If you want to make a wild
investment, I’d buy Russian rubles … It (the dinar) would be one of the
most foolhardy investments you can make.” Meanwhile, CNBC columnist Kelley Holland says the dinar is the subject of a variety of scams, and regulators and watchdogs are sounding alarms: “If
someone has been telling you about the rosy prospects for the dinar,
please, please, be careful. It’s almost certainly too good a story to be
true.” On Thursday, Komo News in Seattle, Washington, ran a
news report on the dinar and interviewed one woman who had actually
bought what she believes to be Iraqi dinars on the internet. You can
find the full video report on the next page … http://www.iraq-businessnews.com/2011/11/11/iraqi-dinars-one-of-the-most-foolhardy-investments-you-can-make/2/
Cancellation of “zeros” from Iraqi currency won’t solve Iraq’s economic crisis, expert says
BAGHDAD / IraqiNews.com: The cancellation of ”zeros”
from the Iraqi currency, announced by the Central Bank
of Iraq (CBI) won’t solve Iraq’s current economic crisis, especially the
problem of the deteriorated living standards and services in the
country, according to the Banking Expert, Samir al-Nuseiry on Saturday.
“The process of cancelling the ‘zeros’ from the Iraqi currency won’t
solve the economic crisis, suffered by Iraq, especially the downfall of
the living standards, unemployment and deterioration of services in all
fields,” Nuseiry told IraqiNews.com news agency.
The Central Bank of
Iraq had announced last September its intention to cancel the 3 “zeros”
from the end of the Iraqi dinar currency in 2013, stating that the
process would ease down the inflation, calling on Iraqi citizens to use
their own (dinar) currency, instead of the US dollar.
“The process of
cancelling the ‘zeros’ from the Iraqi currency shall lead to cut short
the cash size, thing that shall have its direct impact on the basic
salaries, shares, bonds and prices,” Nuseiry said, adding that “such
measure would make any citizen feel poor, as he who has 10 million Iraqi
dinars, for example, won’t possess more than 10,000 dinars from same,
thing that would lead to undermine consumption and thus have its passive
impact on the economic situation in the country as a whole.”
Noteworthy is that the Advisor of Iraq’s Prime Minister for Economic
Affairs, Abdul-Hussein al-Anbaki, had criticized the plan for the
cancellation of ’zeros’ from the Iraqi currency, considering it as “the
largest corruption process in the history of Iraq, “because Mafias of
currency fabrication will be prepared for changing the distorted
currency with a new currency, along with elements who lean towards
currency laundering would pump trillions (t) of Iraqi dinars for their
transformation. |
