News About The Three Zeros I






THERE IS A SAYING THAT BEFORE SOMEONE DOES SOMETHING SECRET THAT THEY WILL SAY JUST THE OPPOSITE ABOUT IT, HERE'S THE PROOF!

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02/07/2015 15:16

Claims to delete the zeros through 2015




BAGHDAD / Obelisk: new number of experts and MPs specialists in financial and economic affairs requiring them to begin proceedings preliminary implementation of the project to delete the three zeroes from the currency this year, because of its great importance to the Iraqi economy and the currency of the local, as well as to reduce the large digital accounts burden treasurers, and facilitate Accountants work in the transfer count numbers.

He says the parliamentary finance committee member Abdul Qader Mohammed, said the project to delete the three zeroes from the currency is one of the important projects and necessary that need to be implemented, what ails the Iraqi currency from inflation figures, which prompted traders and owners of capital Iltjon to the dollar in the deal instead of the dinar and this is harmful The last of the national currency.

He said Mohammed, said the central bank must take initial steps to implement this major strategic project starting this year and will be applied in accordance with the stages and specific period of time, to support the national currency and the Iraqi economy.

He pointed out: that the Finance Committee and the House of Representatives supporting the President of the Central Bank and his work, stressing that the Finance Committee prepared that provide all the help and advice of the Central Bank in order to ensure the success of the implementation of this project, and strengthen the Iraqi currency's strength and restore its prestige in front of the region's currencies.

For its part, renewed member of the Committee on Economy and Investment parliamentary Nora Albjara, claim the central bank determine the timeframe for the implementation of the project to delete the zeros from the currency, the fact that the project is one of the important projects the long-awaited years ago because of the security situation.

She Albjara the committee had met with the governor of the central bank earlier and I discussed with him about the project to delete the three zeroes, noting that the central bank governor said that the project will be implemented over the next four years.

She added that the ground suited the current climate and appropriate to implement the project, for the central bank to start Bouktoath preliminary implementation of the project through the promotion and printing currency and to identify and establish a mechanism for how the issuance of the new currency and old pull.

The economic expert on behalf of Jamil has confirmed that the deletion of zeros from the currency is a restructuring of the coin, and to alleviate the large digital accounts burden treasurers, and alleviate the burden of accountants in counting the transfer of numbers, "but he pointed out that" this is not the time to replace the currency, and that the lack of security and economic stability in the country, but must be a mechanism to start the procedures for the initial implementation of the project.

Jamil said that the project is important and necessary and must be implemented in the country while creating a conducive environment appropriate to the situation and in order to support the local currency and the national economy.

The central bank has decided to implement the project to delete three zeros from the currency in early 2013, but the previous government refused to implement it and asked to wait to implement it until further notice.

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February 6, 2015

Parliamentary Finance confirms that determine the time to delete the zeros

Stressed the parliamentary finance committee member Jabbar al-Abadi, not the central bank to determine a time limit for the deletion of zeros from the local currency.

He said al-Abadi told all of Iraq [where], that "the project to delete the zeros were traded within the Finance Committee," adding that "the central bank refuses to subject the fact that time is not right now."

"We are in the Finance Committee with the deletion of zeros is subject to many positives reflected on the economic reality," noting that "the numbers in the dinar currency loses its value, and the deletion of zeros because the value of the dinar and the fall of the value of the dollar."

He economist Jamil Antoine said earlier that the deletion of zeros from the currency is a restructuring of the coin, and to alleviate the large digital accounts burden treasurers, and alleviate the burden of accountants in counting the transfer of numbers, "but he pointed out that" this is not the time to replace the currency, and that the lack of security and economic stability in the country.

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Parliamentary Finance confirms that determine the time to delete the zeros

Friday February 6, 2015 08:29

b_280_189_16777215_0 ___ images_idoblog_upload_1861_77_59.jpg

[Baghdad where]

Stressed the parliamentary finance committee member Jabbar al-Abadi, not the central bank to determine a time limit for the deletion of zeros from the local currency.

He said al-Abadi told all of Iraq [where], that "the project to delete the zeros were traded within the Finance Committee," adding that "the central bank refuses to subject the fact that time is not right now."

"We are in the Finance Committee with the deletion of zeros is subject to many positives reflected on the economic reality," noting that "the numbers in the dinar currency loses its value, and the deletion of zeros because the value of the dinar and the fall of the value of the dollar."

He economist Jamil Antoine said earlier that the deletion of zeros from the currency is a restructuring of the coin, and to alleviate the large digital accounts burden treasurers, and alleviate the burden of accountants in counting the transfer of numbers, "but he pointed out that" this is not the time to replace the currency, and that the lack of security and economic stability in Albulad.anthy 2

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Is not the time to delete the zeros of the Iraqi currency

Baghdad-Iraq Press -6 February: Parliamentary Finance Committee denied, on Friday, the Central Bank to determine a time limit for the deletion of zeros from the Iraqi currency, and as confirmed that it supports the project, said that the bank believes that the time is not right to take this step.

The committee member said Jabbar al-Abadi in a press statement, said that "the project to delete the zeros were traded within the Finance Committee," adding that "the central bank rejects this on the grounds that the time is not right now."

He added, "The Finance Committee with the deletion of zeros is subject to many positives reflected on the economic reality," noting that "the numbers in the dinar currency loses its value, and the deletion of zeros because the value of the dinar and the fall of the value of the dollar."

He economist Jamil Antoine, earlier, the deletion of zeros is a restructuring of the coin, and to alleviate the large digital accounts burden treasurers, and alleviate the burden of accountants in counting the transfer of numbers, "but he pointed out that" this is not the time to replace the currency, and that the lack of security and economic stability in Albulad.anthy (1)

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نجيب: العملة الحالية لا تتناسب مع ازمة البلد ولكن.. لا حذف للاصفار في الوقت الحالي

Najib: current currency crisis is not commensurate with the country .. but not delete the zeros at the moment

Follow-up / newspaper uprightness

Confirmed member of the parliamentary Economic Committee Najiba Najib "The current currency is not commensurate with the economic crisis that hit the country, ruling out" the application of the project to delete the zeros of the Iraqi currency in the year 2015.

Najib said that "the success of the process of deletion of zeros from the currency need to executive and legislative plans, noting that the central bank alone can not implement this project but need to unite all banks.

She continued, "there is a legitimate and plan to delete the zeros but not short-term, noting that it can be applied to this plan within two years or more.

Najib added that "the main obstacle to this plan is the security situation, which is currently gripping the country, indicating that we are waiting to take steps by OPEC to limit the fall in oil prices. Ended 9

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Political »energy parliamentary: raise zeros will not affect oil prices

الطاقة النيابية : رفع الاصفار لن يؤثر على أسعار النفط

Parliamentary Energy: raise zeros will not affect oil prices

Special / newspaper integrity / Mustafa al-Araji - The Energy Committee and member of the parliamentary oil Ugaili Aziz, said Tuesday that "raise zeros from the Iraqi dinar will not affect the low oil prices, the fact that specific prices in US dollars.

Ugaili said in a statement (newspaper integrity) that "the value of the Iraqi oil prices are in dollars, but the lifting of the zeroes will lead to an increase in commodity prices in the country.

Ugaili ruled that "the lifting of the zeroes from the Iraqi currency will be in the coming period specifically in the next year 2015.anthy 4

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Citizens of Karbala demanding delete zeros from currency

- November 9, 2014

Parliamentary Finance: the goal to improve the economic conditions

Citizens of Karbala demanding delete zeros from currency

Karbala - Fadel Mohammed Zahir

Stressed citizens in the city of Karbala that the deletion of zeros from the currency will provide the benefit of all and therefore Stnsjm with market prices and income citizen who became bear the brunt due to her lack of change that currency.

They explained (time) yesterday, that (the deletion of zeros from the denominations of the 25 000 dinars and make 2500 dinars and 10 thousand dinars makes thousand dinars, as well as the 5 thousand dinars makes 500 dinars ordered will bring appreciation of the citizens if the central bank initiated to it and remove the burden on the citizen living expenses and life becomes able to buy the holdings of the market were more easily and get rid forever of dengue daily living and breathing a sigh of relief in light of the current circumstances and enjoy the well-being and stability in his public life).

The new citizens (invited the Central Bank of the urgent need to alter the currency has become a dream of being a long-awaited).

A citizen of the Mahdi Kazim Assembly District (27 years) that (the process of removing zeros from the currency at the present time would benefit the citizens as they relate to the process of exchange in addition to being a citizen to provide income for a longer period).

He added that the (currency regardless of the thousands they are worth nothing compared to the market prices and can not meet the needs of the goods to be purchased due to the high prices of goods traded now).

Said Mohammed Hussein of the Abbasid area 46 years (I do not know why the bank expects these currencies which became worthless whether it will remain idle during this period, while the country is replete with a lot of economic experts and interested financial affairs if collected economic experience and have worked together finding outlets that make us get rid of this slack that hit the currency and prices, making the market recovering in line with citizens' income after completely emptied their pockets and restore movement of this currency properly after it was for many years a lame cash currency).

Said the citizen Abbas Fadel of smoky area (the existence of this inflation of this currency market make them do not meet the ambition and this is reflected negatively on the income of the citizen, where we began to feel that the currency in circulation, no matter how they are worthless compared to the high prices in the market and has become a value of 25 thousand dinars as The category 5 thousand dinars, and this is what makes us the call on the central bank to find a formula to raise this inflation).

As explained citizen Ahmed Hussein from Republic Street (43 years) that (salary increases and rising some segments of the citizens of the staff and those who work in the army and the police force led to a market recovery and increasing the prices of goods entered and thus get this inflation and this case is made of five and twenty thousand categories and five thousand and 10 thousand dinars, and the category of the thousand dinars worthless. making some shops in the simplest contain income worth 300 000 dinars per day as a result of the sale of goods to citizens process. This situation is alarming in hitting the currency and cause damage to the citizens on the standard of living and become a citizen income This simple irresistible Expensive rise in prices and thus make it suffers from a physical Oz always live a severe case of poverty).

On his part, said the citizen Jassim Terminal of Husseiniya area (41 years) (aspire from the central bank that turns well to this coin and accept the deletion of zeros new currency and take out in order to end the suffering of the poor citizen who became an irresistible market, which has suffered so much and have those the basic currency of gravity and including her in line with the daily income and that are consistent with the prices traded in the currency market and be a core value and weight in the market and emulated by everyone).

The parliamentary Finance Committee has confirmed that many countries follow the policy to delete the zeros in order to improve the economic situation in their countries, pointing out that (the Commission does not know Is that the Central Bank is determined to delete the zeros or she has to postpone the subject and that the proposal to delete the zeros is the prerogative of Bank nothing to do with the House of Representatives in this matter, but the majority have agreed to this project).

She added that the Commission (a lot of countries pursuing a policy to delete the zeros in order to improve the economic situation in their countries.

And that the majority of the members of the committee had agreed to delete the zeros from the currency and replaced after the submission of the bank's governor to answer several questions and justified that the deletion of zeros will not affect the Iraqi economy).

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Friday October 31, 2014 Time: 14:31

Economy / Finance and banks

CBI is preparing to issue a monetary metal parts

Metal coins from the category of 25 fils were in circulation until the nineties of the last century Metal coins from the category of 25 fils were in circulation until the nineties of the last century

30/10/2014

Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.

She said in her statement Albjara Radio Free Iraq, "said the project will take between four and five years, and which will be the launch of the categories of small coins gradually."

He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.

The economic expert on behalf of Jamil Anton, noted that he may not find coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century.

CBI is preparing to issue a monetary metal parts

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      28/10/2014 15:35

Parliamentary committee calls for the central bank to implement deletion of

zeros early next year






BAGHDAD / obelisk: Parliamentary Finance Committee demanded, the Iraqi Central Bank to apply the project to delete the three zeroes from the currency early next year, because of its great importance to support the national currency.

A member of the Committee MP Jamal Joker he was "on the central bank to start the implementation of the

initial phases of the project to delete the three zeroes from the currency, instead of resorting to the issuance

of new editions of the coin with a large class K 50 000 dinars, or other."

He noted: "The present time appropriate for the application of the project, especially since Iraq has returned

to the regional and international environment after the new government's policy to strengthen relations with

all countries, where it will begin the Central Bank to implement the project in the form of stages," calling on the central bank to "start implementing the initial stages beginning the year 2015 ".

He ruled out the Joker, "for economic problems in the event of implementation of the project during the next

few days," pointing out that "the project is one of the important strategic projects of the country being reduces

the money supply and works to reduce the rate of inflation in the market."

The central bank is preparing to issue a new edition of the coin category 50 000 dinars, while noting that the project to delete the zeros will be implemented over the next five years.

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A member of the parliamentary Balaguetsadah: the project to delete the zeros is ready and needs to be

applied five years

Wednesday October 29, 2014 15:42
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Alsumaria News / Baghdad
Confirmed member of the Committee on Economy and Investment

parliamentary, Wednesday, on the readiness of the project to delete

the zeros from the Iraqi currency at the central bank, as pointed out

that implementation of the project need to five years, given the political

and security situation of the country is going through.

Said committee member Nora Albjara in an interview for

"Alsumaria News", "The project to delete the zeros from the

Iraqi currency at the central bank is ready, but is not applicable

on the ground for political reasons and security."








She added that "the central bank's policy was provided to implement

this project in 2015," noting that "the current situation and what the

 country is witnessing, in order to apply to the project after five years."

He said the central bank, earlier, that the project to delete the zeros

will be implemented over the next five years.

And announced to the parliamentary Committee of Economy and

Investment, in (October 20, 2014) for hosting the Governor of the

Central Bank on the Keywords to discuss the issue of deletion

of zeros and anti-money laundering crimes and develop the work

of private banks.




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Yasiri: Delete the zeros from the currency raises the value of the dinar

- October 26, 2014

Legal calls to pass the budget in the form of ancestor

Yasiri : Delete the zeros from the currency raises the value of the dinar

BAGHDAD - Ali al-Moussawi

Committee for Economy and Investment parliamentary announced that the deletion of zeros from the Iraqi currency will be working by next year, while the Finance

Committee promised to delete the zeros will contribute to raising the value of the dinar. The former committee member Abdul-Hussein al-Yasiri yesterday that

(lifting of the zeroes from the currency economic necessity to raise the value of the dinar against other currencies). He said (this proposal has Tdarch a long time

ago when Shabibi was governor of the Central Bank has agreed to this measure based on economic) scientific data. He explained that Yasiri (deletion of zeros will

facilitate the carrying amounts of money for many leading to easy to carry and be stored and handled). For his part, said the economic and investment commission

member Jawad al-Bolani said in a statement yesterday that (the deletion of zeros from the currency will be working with next year and the government had a

project about deleting three zeros from the currency to reduce inflation quotient currency but it has been postponed). He added that the (foreign exchange reserves

at the central bank stood at $ 76.3 billion that traded currency markets amounted to 40 trillion Iraqi dinars). Bolani said that (there are some laws will be discussed

in the House of Representatives soon which banks and the central bank law and the law of money laundering and these laws will promote the national economy).

The last part of the parliamentary legal committee submitted a proposal to the House of Representatives for the purpose of passing this year's budget in the form

of advances, while stressing the legal expert Tareq Harb he may not pass the budget in the form of advances to lose it legalized. A war of yesterday that (there is

money spent in exceptional circumstances experienced by the country where the money spent in the form of expenses and revenues). He said (to try to pass the

budget in the form of ancestor is not lawful because the only door that gives legitimacy to the money spent is not non-budget). Meanwhile, a member of the Committee

on the gesture in a statement yesterday that the (fiscal year is nearing completion and the federal budget for 2014 did not vote on it until now). He said that (the

Committee suggests the possibility of passing the budget in the form of financial advances made to the previous government and the approval of approval because

it can not be the survival of the current fiscal year without a budget or pass a federal budget in 2015 instead). He pointed to the gesture (a discrepancy of exports

and imports volume, which led to further delays hamper the voting process).

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Economic parliamentary: Work to delete the zeros from the currency

will begin next year




Monday
20
October
2014
| 15:08
Economic parliamentary: Work to delete the zeros from the currency will begin next year

The most prominent in the news

Central Bank reserves to $ 76 billion

Also located in:














Qurtas News / Baghdad

Announced the parliamentary Economic Committee, Monday, that next year will begin work to delete the zeros from the currency.

The committee member said Abdul Salam al-Maliki at a joint news conference with committee member Jawad Alpolanin that "the Central Bank reserves to $ 76 billion in the fund 24 dfi Billion dollars, and the currency in the market Almtdoualh 40 million trillion. "

He pointed out that "the deletion of zeros from the currency will be next year."


Economic parliamentary quest to confirm the deletion of zeros from currency




BAGHDAD / obelisk:   Confirmed a member of the parliamentary Economic Committee Najiba Najib's quest for its implementation of the project to delete the zeros from the currency. Pointing to the existence of some of the obstacles that have prevented its implementation.

Najib said according to the Media Center Brief Alaariqa   "The Committee will host the central bank governor

to learn practical steps for the implementation of the project to delete the zeros from the currency and in

coordination with the Central Bank to determine the most prominent problems that hindered the implementation

of the project."

She added that "the project is still subject to extensive studies of the briefing in all its details."

The Commission asked for the economy and investment representative, earlier, the central bank need to begin the process of deletion of zeros from the currency to raise its monetary value.


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IOdN4dXw

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Unlike political economist on the deletion of zeros from the currency, and experts are putting the decision, however, the central

Sat Sep 20 2014 11:58 | (Voice of Iraq)

Counting Economists, on Saturday, the deletion of zeros from the Iraqi currency trend "sensitive and dangerous" in light of the situation, which passes
through the country, and while Okdakharon that the process is left to the decision of the CBI for being concerned only in the monetary policy of the country,
he stressed deputies in the Parliament on the need to be the process of deletion of zeros techniques and procedures in accordance with the sound.

He said the former deputy governor of the Iraqi Central Bank Mazhar Mohammad Saleh in an interview to the (long-Presse), "The time is not ripe for the implementation of the
policy of the central bank with regard to the deletion of zeros from the local currency, because this process needs to political and security stability, and Iraq today are exposed
to terrorize large and fierce war , "noting that" the process of monetary reform of this magnitude take place in
conditions of peace and significant economic growth. "


Saleh added that "this issue is sensitive and dangerous and should be avoided, and can be applied at least in the medium term through the next two years."

For his part, Undersecretary of the Ministry of Planning Mahdi Keywords in an interview to the (long-Presse), that "this issue is linked to the expertise
and advice that enjoyed by the CBI when it decides to delete the zeros."

He explained: "It perhaps this trend is not a priority for the central bank during this period," attributing it to "the lack of significant effects for the
deletion of zeros on the overall economic activity now."

He pointed out that the relationship "This measure is one of the phenomena that must pay attention to it Petrhik display the currency."

For his part, President of the Association of Iraqi banks Adnan Chalabi said in an interview to the (long-Presse), "The process of deleting the zeros
belonging to the Central Bank of Iraq alone," noting that "this process needs to techniques and technical aspects, we can not interfere with the central bank
is alone on this It's because it is monetary policy. "

In turn predicted MP Ali Fayad said in an interview to the (long-Presse), that "the coming times may provide a base for building a new economy by changing
the currency and delete the zeros of some of them."

Fayad confirmed that "This measure will give durability and optimism strongly the Iraqi currency," stressing the need to "be subject to the mechanics
and relevant experts in the field of banking and monetary aspects of the economy, and must be accurate so as not to affect the local economy."


For his part, former MP Abdul Xiaa Sudanese in an interview with the (long-Presse), said that "it is very important that the current government to delete
the zeros from the currency," noting that "the previous government was not able to perform this operation, although it reached its final stages, but fell
After that deteriorated the Iraqi currency in 2012. "

He pointed out that the Sudanese "the deletion of zeros from the currency needs to stabilize the currency and this is currently available in Iraq."

The Finance Committee of the House of Representatives unveiled in the former, (August 15, 2013), the postponement of the process of deletion of zeros
from the currency until after the next parliamentary elections, while confirming that the government has demanded guarantees for the non-return of the
currency markets and substituted falsified.

The CBI emphasized, in the (April 25, 2013), that there is no intention at this time to restructure the currency and deleting three zeros of them, denying
the reports in this regard.

Referred to the General Secretariat of the Council of Ministers announced (April 12, 2012), wait for the application process to delete the zeros from the
national currency, which had to stop all actions relating to the operation mentioned until further notice.

It is noteworthy that some economists believe that Iraq is not formatted for the time being to delete the zeros from the dinar, pointing out that the deletion
needs to stabilize the political and security as well as stability Alaguetsada.okan CBI confirmed, (in the July 3, 2013) that Iraq is "in control of his money
The treasury of gold "in global banks, which of acting out, denying" the existence of frozen funds outside the control of the Iraqi administration, "While revealed
that the Bank reserves reached 76 billion dollars in the month of May last year, counting out of Chapter VII that" will allow Iraq's freedom to act to attract
more foreign investment. "


The International Monetary Fund, announced, in the (March 23, 2013), that the financial balances preventive in the Development Fund for Iraq rose in 2012
to 18 billion dollars, and the cash reserves of the Central Bank of hard currency to 70 billion dollars, and pointed out that this increase came from the
"revenue oil unexpected ",
called on the Iraqi government to end the control of the state-owned banks on the banking sector, he stressed the need for the
strengthening of Iraq's public financial institutions to ensure efficiency and transparency in the use of oil revenues.

Predicted USAID, in (December 3, 2012) that leads the Iraqi economy, the Arab countries during the five years, asserting that Iraq possessed all the
qualifications to be a strong state Aqtsadia.oihol Iraq for years to attract foreign capital to develop its economy in the fields of industry, especially those
related to oil housing and oil and gas extraction, and so need of the funds needed for infrastructure development and reconstruction, but Mariqben assert
that lack of interest in the state to the private sector and the absence of investment laws which guarantees large investors and the absence of other laws
are still obstacles to the development of the economy in the form required.

Depends Iraq, which has the fourth largest oil reserves in the world at 95 percent of its annual budget on its oil exports and currently produces about
2.0009 million barrels a day, while the issue up to 2.0002 million barrels a day.


The UN Security Council votes, Thursday (the 27th of June 2013), a unanimous decision to remove Iraq from Chapter VII, after more than two decades
of sanctions imposed in the wake of which the invasion of the former regime of Kuwait in the second of August, 1990.

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Experts: Delete the zeros from the dinar increases its strength against the dollar and easy to draw a price

policy

Posted: February 23, 2014 in Iraqi Dinar/Politics

Screen Shot 2013-06-28 at 7.52.08 PM02.22.2014
He said experts and specialists in regard the country’s financial The implementation of the project to delete the zeros from the Iraqi dinar will increase the strength against the U.S.

dollar, in addition to facilitating the drawing political price in the country, as demanded a parliamentary committee by clicking on the government, “which disrupted the project” to force

it to be implemented through texts Constitutional which allows the printing of a new currency, pointing out that the country’s exit from Chapter VII, and to achieve the balance of Iraq’s

76 billion dollars in international banks catalysts to delete the zeros.

The decision of the Commission on Economy and Investment parliamentary Mahma Khalil said in an interview with the “long” The parking Government against activating the decision

to delete three zeros from the Iraqi currency under the pretext of fear of counterfeit currency is not justified, especially as the regional climate is ripe after the withdrawal of Iraq from

Chapter VII and raced companies Global investment to invest in Iraq.

He added that there is a legitimate action as a means of pressure on a government to force it to retreat from its position, including recourse to the constitutional provisions that allow

the printing of a new currency and to address the weakness of the Iraqi dinar against the U.S. dollar as a necessity of economic urgency after that had a balance of Iraq’s sovereign

global banks 76 billion dollars.

For his part, said economic expert Majid picture “long” The Central Bank of Iraq in agreement with the Ministry of Finance presented the studies necessary for the process of deletion

of zeros since 2008 and has taken all actions relating to the restructuring of the Iraqi currency, including the design of the currency and denominations and the quality of paper used

her, who confirmed that from the finest stainless paper cash or difficulty falsified.

He added that the executive branch has decided to postpone the process of restructuring of the Iraqi currency, which led to the cessation of all actions related to this project,

explaining that the aim of the restructuring process is to reduce the cost of handling and facilitate transactions handled, especially medium and large as well as to facilitate the

draw price policy in the country.

He stressed the need to accompany the process a package of measures distributed responsibility on all departments and state institutions and banks in order to develop solutions

to the problems and obstacles that can arise during the process of restructuring, including cash, and accounting, and security as well as take the necessary measures to destroy the currency received canceled.

He pointed out that the experience of Iraq to replace the currency in 2003 was very rich, but did not exceed only change the shape of the currency and replace it, so you do not need accounting requirements or legal, calling for the need to educate departments, banks and citizens feasibility of restructuring the currency as well as the use of modern technologies to

detect fraud, also called to the non-interference of politicians and subjecting such decisions to Mazidat and political skirmishes, because that is not in the interest of monetary policy

and the Iraqi economy.

Meanwhile, a financial expert, Thamer Alheimus “long” that highlighted the benefits of the deletion of zeros is to create flexibility and ease of trading, and gave the example that in the

case of activation of the decision will be coin values ​​of small Kkhmsin fils or less, and under that will highlight the prices between the fourth dinars and half dinars or less, and thus

would be unlikely in a large increase in the value of the Iraqi dinar against the U.S. dollar in the case of Sir prudent monetary policy according to which it will contribute to the

improvement of household incomes and low-income social strata.

http://bit.ly/1h1HL5Z__

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Deletion of zeros from the Iraqi dinar / Adel owner Ali

11/10/2013

Raised the issue of deletion of zeros from the Iraqi dinar and promoted by the central bank in recent times a lot of talk among professionals about the economic

feasibility and its impact on the Iraqi economy, has reported advisers at the central bank that the deletion of zeros will help to alleviate the Event inflation suffered

by the Iraqi economy where This action will help to reduce the money supply in the country, which according to them is one of the causes of inflation arguing that the timing is

so suitable for the stability of the Iraqi economy, which is experiencing a stable dinar exchange rate against foreign currencies.
Is Xavi on specialists in monetary policy, economists how dangerous this procedure on the Iraqi economy at this time, as the results that are expected to achieve a reduction of

inflation do not need to delete the zeros, but you need to development work in the field of the real economy and not a placebo policies cash is a reflection of the reality the real economy, which is production of goods and services and when we want the reduction of limited inflation must look to the productive sectors in the country and help them obtain the salvation of the obstacles they face and live up by the local industry through the provision of support to them in addition to doing codified volume of goods and imported goods through taxes, tariffs,

customs and other legislation and laws that guarantee prosperity for all sectors of local industry. We need authorized the reduction of inflation led to deliberate and sustainable

development organization for all the real economy based facilities monetary policy and fiscal policy in turn through the coordination between the various policies and development plans.
A lot of concerns surrounding the process of deletion of zeros, if we look at the countries that have done so are the latest countries are Turkey, we find that it has a strong economy

and stable and that this process has stages and the most important is the community's understanding of this process in all its details and absorbed for the new currency, but if we do

that there are a lot risks and concerns that must be put into consideration, including the possibility of confusing the economic lead to loss of confidence in the Iraqi dinar and the

possibility of exchange rate changes in addition to the cost of the new currency and especially that Iraq did not possess Press private, but prints the currency in Britain, not to

mention the difficulties related to balancing the state and investment plans debt and equities, bonds and other risks which may be caused by the move.
That the deletion of zeros from the currency is not a treatment, but comes as a necessity when the economy situation of the growth of a continuous and stable full, not stability, they

are talking about is the stability of the exchange rate is stable and placebo because it is not based on economic power, when it is the process of removing zeros from the currency is necessary because it helps to coordinate between policy and give plans and clearer more with numbers understandable for all and contribute to the reduction of the money supply

and more importantly that this process must be carried out at different stages according to a deliberate plan and that the process is educating for the new currency in all ways and

methods to accommodate by the citizen and the investor.
When you take a closer look at the reality of the Iraqi economy, we find that the dependence on oil, primarily the basis for the financing of the state budget, in addition to loans

and income from simple, and industrial and agricultural production and other sectors is negligible clear to us is that the so procedure does not achieve any growth of the national

economy, but may contribute to reactions affect a negative impact on the general economic situation, and the reduction of limited inflation, a main justification for all this will not be

achieved as soon as the deletion of zeros and that this process will not achieve any increase in the purchasing value of the Iraqi dinar frequency in the news lately about the process of deleting three zeros from the Iraqi currency under the pretext of reducing the amount of money in the markets and raise the value of the currency against the global foreign exchange,

which reflects positively on the economic situation of the country and the return of Iraqi dinar to its former glory and glory before the first Gulf War
But reduce the amount of money is not a formal is the most effective solution to the problem of inflation and revive the country's economic situation
Who became a yield economy depends mainly on what issued by the country of Petroleum.
But the problem lies in the difference between what is produced locally from goods and imports and work to reduce the madder between exports and imports so that the country

produces Ihottagh of food agriculture local available merits of the wealth of water and muck only need to support the government as well as goods manufactured locally, which is

produced in neighboring countries, less potential and wealth of material and human resources of Iraq, which is available where all means of development and this step, we have

maintained the hard currency of migration out of the country and thus add real value of the Iraqi dinar and create jobs to support the economy and reduce unemployment
It must be noted that there are important steps should be taken before the replacement process, but it spread the culture of the Iraqi individual in how to deal with currency precedent

and a new currency on the market and not to be drawn behind the rumors promoted by weakening the souls of beneficiaries that the old currency value
As happened in replacing the current currency after 2003 as well as to be government control of the bankers
The government and private banks and ensure impartiality and non-extortion for the simple citizen against the replacement of the old currency.
   
Adel owner Ali

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Delay in omission of zeros from Iraqi currency may harm its economy

16 Aug 2013
The lifting of the international sanctions from the Iraq government has taken place recently. This led as a chance for the Iraqi government to reduce the difference between Iraqi dinar
and other foreign currencies. There are so many discussions taking place of late and most of the economists favor Iraq to omit zeros from its currencies. The Central Bank of Iraq is
looking at this matter with high concern and due to building process of strategies, there are some delays. However, there is a threat that has been clouded around the Iraqi economic scenario, regarding this delay from the end of the Central Bank of Iraq authority. It is assumed that Iraq may lose billions of dollars due to this delay.
Abdul Hussein Al-yasiri, a member of parliamentary Finance Committee, has recently mentioned that lifting of UN sanctions on Iraq has given the country a fair chance to rejuvenate its economy. As the country is receiving high investments from different parts of the world, it is the right time to reconstruct its economic infrastructure and strengthen its economy. For rejuvenating the country’s economy, the first step would be taking the country to a new leap through omitting three zeros from the Iraqi currencies. He also added that it is quite
possible to strengthen the Iraqi dinar by raising its value and the present scenario in the country is in favor of that.
He mentioned, “Country’s exit from Chapter VII on the political side, contributed to the liberation of Iraq will on the economic side, give Iraq much room on important issues including
banking, on Iraqi and foreign currency trading, as well as investment in Iraq has not been able to attract investment during the previous period.”
He mentioned that there are a few sectors in Iraq which are needed to be developed and have high potentials. Agriculture, tourism, construction, communication, etc. are a few sectors,
which have high potentials. However, oil sector is the base of Iraqi economy at present and the nation is building itself, depending on the oil industrial development. As a result,
government is also expensing highly on this sector in order to reap out more benefits from this sector of the country.
Mr. Abdul Hussein Al-yasiri also remarked, “The procedures be adopted to increase the value of the dinar currency, requires the Government to pay tribute to all sectors of production
and investment to support the local currency.”
Updated 16 Aug 2013 | Soruce: Badr Press | By S.Seal

http://www.iraqdirectory.com/en/2013/08/16/24801/delay-in-omission-of-zeros-from-iraqi-currency-may-harm-its-economy.aspx
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Economic committee member urged CBI to resume the project of deletion

of zeros from Iraqi dinars

09 Aug 2013
Parliamentary commission of economy and investment of the Central Bank has been called by Iraq news network, in order to discuss the significance and process of deletion of
zeros from the Iraqi currencies.
It has to be noted that Iraq has recently got freedom from the sanctions of Chapter VII and according to the economic experts; it is advantageous
to make decisions regarding restructuring of Iraqi currency at this moment. As the sanctions have been withdrawn, it is expected that Iraq will gain more business power in the
world and will soon become a popular place for business venture.
In the presence of members of the Committee on the economy and investment, MP Khalil mehma stated that the Central Bank should start a currency structure as a purely
economic issue.
The Attorney pointed out on this issue that Iraqi constitution should be changed accordingly if Iraqi dinar has to be reformatted. He also mentioned that Iraq will
be the first country to take this initiative of deleting zeros from its currencies. The government of Iraq has taken some significant steps to build the future of Iraq on the foundation
of the foreign investments into the country. Central Bank’s initiative to omit zeros will make the economy of the country stable and certainly will help the investors. Not only that, the
common people of Iraq will also be benefitted if such measures take place in near future as this will lead to price stability of the market goods.
MP Khalil also added that the project to omit zeros from the currencies of Iraq was pending due to the obligations of chapter VII. According to him government and the Central Bank
of Iraq should rethink on this matter and should take swift measures to strengthen the economy of Iraq
. Attorney Abdul Hussein abtan said project delays and the survival of the
zeros in the Iraqi currency is reasonable as the Iraqi Central Bank reserves of 76 billion dollars and now dealing in thousands.
In the month of August of last year, the CBI stated that it was then planning on omission of zeros from the Iraqi currencies. The deletion of Iraqi dinar will facilitate financial transactions
made through cash. However, there is a bigger challenge in the way of deletion of zeros from the Iraqi currency. Presently, more than 30 trillion dinars circulating in the Iraqi market which have to be discarded and replaced with a new currency. This task would not be easy, as opined by experts and observers.

Updated 09 Aug 2013 | Soruce: AIN | By S.Seal
http://www.iraqdirectory.com/en/2013/08/09/24751/economic-committee-member-urged-cbi-to-resume-the-project-of-deletion-of-zeros-from-iraqi-dinars.aspx

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Economic Parlimentary we ask is implementing a project to delete the zeros


07/10/2013

Economic parliamentary: We asked the central bank is implementing a project to delete the zeros


BAGHDAD / JD / .. confirmed the parliamentary economic committee in the House of Representatives that the committee demanded that the Central Bank is implementing a project to delete the zeros from the Iraqi currency.
He said the Commission's decision MP economic Mahma Khalil Qassem told / JD / day: that the Central Committee had requested to
reconsider the project and for purely economic reasons, is to maintain and improve the Iraqi currency against other currencies.
Khalil explained that this project is an old project was discussed in accordance with the laws in force in the central bank, and now a year
after the discussion we see that the time is right,
especially after the withdrawal of Iraq from Chapter VII of the revival of this project.
The Iraqi Central Bank estimated Estimated cost of the project to delete the zeros from the currency up to 172 billion dinars ..
She said a special study project to delete the zeros received / JD / copy: The speculative total cost of the project to delete the zeros up to a hundred and seventy-two billion dinars "..
The bank said in the study that the wages of transport and insurance of the role of copyright to the Baghdad International Airport up to (140), calculated on the basis of the ratio between the highest and lowest price (90-189) billion dinars from the presentations made by the
companies ..
He added that "Estimated cost Mint coins of the new currency amounting to 16 billion dinars," ..
The bank continued, "The wages of cargo transportation, Fridays and public holidays, overtime, etc. amounting to 15 billion dinars," ..
He pointed out that the cost of the media campaign and miscellaneous costs up to (1) billion dinars .. He recalled the bank the cost of the replacement process for the period from 15/10/2003 and the Bank of the reasons for the deletion of zeros, the first being that the process
 of deletion of zeros will be an opportunity to add new properties of the Iraqi currency to prevent potential counterfeiting of the new currency through the use of specifications of high
security, leading to increased customer confidence ( and public institutions) as a result of low or no cases of counterfeiting ..
He pointed out that the second reason that the process of deleting the zeros will reduce Alokiem digital currency and financial Almahacbah and may play to reduce the time, effort
and cost required to complete financial transactions and accounting as well as the possibility of reducing the number of banknotes traded especially if it were printed banknotes
categories big "..
He said the third reason, it enhances the possibility of maintaining the exchange rate of the Iraqi dinar against foreign currencies earned the confidence of dealers. / End / Mona
Fatlawi /

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Banker: any disregard for the challenges of the project will fail and cause big losses






29/04/2013 12:53 AM

Divergence of views on the project to delete the zeros
BAGHDAD - Ann Salah
Central problems and the fluctuation of currency exchange rates and efforts to raise the value of the Iraqi dinar stand again placed the deletion of zeros from the Iraqi dinar and
characterized by differing views around between the Finance Committee representative on the one hand and the Central Bank on the other, the former demanding the implementation of
the project while the second calls for lingered despite the fact that the administration its predecessor was one of the enthusiasts for this project.
In order to create a state of convergence between the points of view of both sides to be heard other parties relevant was this meeting with us banking expert Abdul Rahman Abdul Salam al-Sheikhli, who spoke of the "morning" about the most important challenges facing the project.
, Shaykhli say there is a legal ambiguity on the subject regard to public بالمديونيات between citizens on the one hand (creditors and debtors) Here
we must find a legal settlement to this thread.
As seen Shaykhli that there is fear of currency counterfeiting and this is becoming of things for granted and must deal with this matter as a matter of fact, but he sees no reason to delay
the project when taken into account with the development of hedges for it.
He hinted that at first there was a difference in views between the Parliamentary Committee on Finance and the Central Bank which requires finding a case of convergence, but we now
see the emergence of a difference of views between the Council of Ministers, which demanded the previous administration to slow down the project and the current view of the same
subject with the new administration.
And Shaikhly pointed out that there is a very important topic links between the project and the bound between economic security and political security, which makes the implementation of this project is not appropriate at the present time because of the large differences that beset the country and that must be reflected negatively on the success of the project.
He noted that the project is the cost is considerable financial and burdening the state and the citizen under these conditions the vessels, and believes that to امبرر her present time according
to the most important priorities, and reiterated that such a decision is not appropriate in the present time.
The Secretary General of the Council of Ministers has said on a previous occasion that the process of the currency exchange cost 172 billion dinars, the equivalent of almost $ 150 million
in order to satisfy the printing expenses, transportation and insurance, in addition to the costs of destruction that the new currency will be in three languages ​​Arabic, English and Kurdish.
And cash in circulation now up to 30 trillion dinars (equivalent to U.S. $ 27 billion).
As the economic advisor to the Prime Minister had pointed out that the process cost both institutions (the government and the central bank) and the time and effort is necessary in the
present time.
And called Shaykhli to study the experiences of other countries in this area as an experiment, for example, Turkey has had to delete 6 zeros from its currency, but it has taken this decision
after it secured a stable significant security was lacking to him.
He said the most important in the whole process he Aaijeri project only after the stability of the exchange rate of the Iraqi dinar relative to other foreign currencies traded in Iraq كالدولار and
the euro, adding that work is underway central bank to get to the exchange rate of the dollar against the Iraqi dinar, including not more than one thousand dinars per dollar maximum .
banking expert concluded Abdulrahman Shaykhli his speech by saying when conditions are appropriate to look at the project seriously and when the ground is well suited for the success
of the project because no ignoring these challenges may fail project and يؤجله the order may not wish to get to him.
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Varied opinions and different views: Politicians: the project to delete the zeros «important; Economists: unimportant

Posted: April 28, 2013 in Iraqi Dinar/Politics
Tags: , , , , , , ,

04/27/2013 09:04

Iraqi observer – specialThe project to delete the zeros before long and is applicable of the important projects that work to reduce the volume of currency large circulating in Iraq and

that اتخلو of risk in the event did not take a deliberate plan by the central bank

to Ihlolh without impact on the consequences of money laundering and fraud, has stressed member Economic Commission Abdulabas Xiaa the importance of the formation of

committees control of all state institutions to pursue the process of destroying the old currency in the implementation of the project to delete the three zeroes from the national currency,

because the project to delete the three zeroes is one of the important projects and sensitive because it is linked to public money, process of implementation should be monitored and accurate to prevent fraud and manipulation and money laundering.

And practical measures to destroy the old currency must be under the control of the House of Representatives and government institutions in the country and with the participation of the media through the formation of committees to control, to prevent tampering and theft by some quarters, and continued:

that the central bank gave a deadline of two years for the process of replacing the old currency currency of a new, has identified the Economic Commission earlier date for the

implementation of the project to delete the three zeroes from the currency early this year (2014),

asserting that the Central Bank to develop procedures limit fraud and manipulation that may accompany the process of replacing the currency, and this project ايعد to delete the

three zeroes from the Iraqi currency only

but re-structuring currency in terms of reduction of banknotes, and will be the highest category of paper (200) dinars, which is shorthand for the $ (200) thousand dinars, equivalent

to (170) dollars. and the central bank will begin its procedures proactive implementation of the project during the current year

Ktba currency and contracting with companies to be after the process of replacing the currency in the beginning of next year, the central bank put strict measures to prevent fraud that

may accompany the replacement process,

and the country needs a draft restructuring currency after deleting three zeros from being coming to an expected increase in revenue of Finance in the coming years, it Sechtzel

figures and banknotes.

It showed the Economic Commission that the project will include Coins & Stamps, and consists of categories (half JD, JD, JD 5, 10 dinars, 25 dinars, 50 dinars, 100 dinars,

200 dinars), so that the employee if his salary million Vestelm thousand dinars, five categories of paper of class (200) dinars, stressing that this process will facilitate a lot of things

fiscal and monetary.

Observers believe economists that the draft of the new currency would not change a thing of the purchasing power of the Iraqi dinar and its effects are limited to organizational matters

and reduce the size of the Currency massive rolling in Iraq.,

As well as stop the cycle of the Iraqi economy, which is one of the most important challenges facing policy makers in developing countries in general and Iraq in particular,

which means the use of the U.S. dollar or any foreign currency has a capacity replacement of the national currency in transactions and contracts internal financial and counted a store

of value at the same time.

either positive second will be through reducing inflation rates Balamd average, which include raising the external value of the Iraqi dinar (ie, the nominal exchange rate) in a manner commensurate with the real exchange rate to contain inflationary expectations,

taking into consideration the trends apparent inflationary and the level of acceptance and availability of reserves inflationary and the level of acceptance and availability of international

reserves at the Central Bank of Iraq

and a way inhibits inflationary expectations and reducing the speed of circulation coins , the deleting three zeros means converting 30 trillion dinars to 30 billion dollars by deleting

three zeros from the current currency and replace it with a new currency.

http://bit.ly/11uoaBr



Iraqi Central Bank: No intentions to strike out zeros from the currency



26-04-2013 - 13:00




Business







Editor:   Ghassan Hamed  



alsumaria

Iraqi Central Bank expressed on Thursday that it does not intend to restructure Iraqi currency of strike out the three zeros, denying any news

pertaining to Iraqi Dinar redenomination .

“Some media stations reported statements that the Central Bank was thinking about restructuring the Iraqi currency and striking out the three zeros”,

said the bank in a statement of which Alsumaria got a copy. It added “the Bank, considered to be the only authority or reference to make such statement, points out that we have no intention to restructure currency or strike zeros out”.

Local news stations have reported a few days before that currency restructuring and removing zeros will soon take place considering that this will lead to promoting currency exchange and international economic transactions, in a new development on the Iraqi currency forefront.

The general secretariat of the cabinet announced on April 12 that it will carefully reconsider striking out zeros which entails suspending all monetary

activity until further notice.

Some economy experts consider that Iraq is not ready at the time for striking out the zeros from the Dinar, pointing out that such operation required

security, political and economic stability.



Deputy: the need to control the formation of committees to destroy the old currency in the implementation of the project to delete the three zeroes

25-04-2013 12:27 PM
 

Baghdad (news) .. Stressed member of the Economic Commission MP / National Alliance / Abdulabas the Xiaa, the importance of the formation of the supervisory committees of
all state institutions to pursue the process of destroying the old currency in the implementation of the project to delete the three zeroes from the national currency.

And said Xiaa (of the Agency news): The project to delete the three zeroes is one of the important projects and sensitive because it is linked with public money, its implementation
process must be monitored and accurate to prevent fraud and manipulation and money laundering.

He explained: that practical measures to destroy the old currency must be under the control of the House of Representatives and government institutions in the country and with the participation of the media during the formation of committees to control, to prevent tampering and theft by some quarters.

He added: that the central bank gave a deadline of two years for the process of replacing the old currency currency deleted them zeros, to be handled together, that is the process of absorption of the old currency from the market so did not feel the citizen. / End / 8.'s. M /
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Economic center: the success of the project to delete the three zeroes depends on the stability of the exchange rate of the dinar against the dollar
Agency news - 04/21/2013 - 12:45 pm

Baghdad (news) .. Head of the Media Center said the economic Dergham Mohammed Ali, that the success of the implementation of the project to

delete the three zeroes from the national currency depends on the stability of the exchange rate of the dinar against the dollar and educate citizens

and give them enough time to replace the currency.

Muhammad Ali said (of the Agency news): The economic reality of the past year and the previous one was better poised to receive the decision to delete the zeros through the

market is unable to absorb its effects because of the high stability, which was dominated by the exchange rate of the dinar against the dollar at the time.

He continued: While the market has become more sensitive and broader change than it was a Mitrah question the reasons for the postponement of this decision, but the

implementation is still possible in the event of education in a positive way and give long enough to bring a replacement span for two years as planned during which the currency

traded zero and currency Deleted zeros.

He added: that the central bank demands to confirm the unit value between the two currencies and start substitution out for the new currency and ادارجها within the trade and the rule of replacement controls strict and controlled high in order to prevent money laundering, and control strictly operations splurge of the coin ancient This allows the switch smoothly and safe.

He stressed: the need for the central bank to focus on his tools to re-dinar exchange rate to the target levels, the successful implementation of the project. / End / 8.'s. M /

Economic Parliamentary: Delete the three zeroes from the currency will not

see the light after the dismissal of Shabibi

Wednesday, 17 April / May 2013 16:50

Twilight News / ruled out the decision of the Economic Committee in the House of Representatives Mahma Khalil, Wednesday, that is to delete the three zeroes from the currency

of Iraq over the next year, returned to the changes, which affected the CBI may prevent the process of restructuring the national currency, as well as having a previous request to the government to wait In the beginning the currency exchange procedures.

He was a member of the Finance Committee parliamentary Abdul Hussein al-Yassiri had announced, earlier,

that the central bank and according to official communications of the current year starts procedures for deleting

three zeros from the local currency, stressing that it would lead to the development of cash transactions and international economic.

Khalil said in an interview with "Twilight News", that "the project to delete three zeros from the Iraqi currency

had arrived from the Central Bank of the parliamentary economic committee earlier."

However, Khalil said that "the Iraqi government has asked to wait to begin the project under false pretenses,

although the application and currency restructuring is purely economic projects as well as it contributes to the

safety of the national currency."

He believes that "the policy of the central bank policy today is unsuccessful, did not succeed in lifting the siege of the Iraqi dinar, and the issue of the currency exchange as she

could not keep the hard currency within the environment of Iraq."

He described the decision of the Economic Committee that "the interest of Iraq to conduct restructuring of the Iraqi currency and delete the three zeroes, which is a vital economic

project and to keep the currency from counterfeiting and damage."

According to Khalil, the "There are international companies giant has a desire to implement this project, and sent appliances for this purpose for Iraq," noting that "Iraq is not the only

country that is restructuring its currency national, has preceded us Turkey so, as there are many countries that its economy Exhausted the structuring of its national currency. "

He pointed out that "the printed forms of the new currency (after deleting three zeros) include half a dinar and five dinars and ten dinars, 25 and 50 dinars, and the parameters of the

country and its culture," noting that "if the deletion of zeros, the value of the dinar per be equal one dollar or so."

And on the possibility to witness the next year, the birth of the new Iraqi currency, Khalil said, "We serve as the economic and the central bank is linked with us, we demanded

from the bank to keep this project exists," but he also said, "The government asked to wait, and I think that what happened on the Central Bank of the changes and the appointment

of New Acting Governor means that this project will not even see the light in the coming year as well. "

The Iraqi government has decided to end of October last year, set the head of the Office of Financial Supervision Abdul Basit Turki, rather than Shabibi article the former government's decision, after criticism by the parliamentary Finance Committee relating to the mismanagement of funds and addressed to Alshabibi and other bankers officials.

The CBI had said in August that it plans to delete the zeros from the Iraqi dinar to facilitate financial transactions carried out through cash in most cases.

Among the difficulties faced by Iraq if they are to foot on the deletion of zeros from the dinar is pulling about 30 trillion dinars in circulation in the Iraqi market now, then get rid of

them and replace them with a new currency.

The Finance Ministry has ruled out earlier in the deletion of zeros from the local currency in 2013 because the budget is calculated in current currency.

X G / J

Three zeros to be cancelled from Iraqi currency, says MP

16 Apr 2013
Three zeros to be cancelled from Iraqi currency, says MP
Parliamentary Finance Commission MP stated that the Central Bank of Iraq will soon cancel the
zeros from the Iraqi currency. MP Abdul Hussein al-Yassiri revealed that it will happen by this as the
Central Bank of Iraq is taking all necessary steps to convert this plan into reality.

He adds that the commission is in favor of Central Bank of Iraq with this decision as this will bring
significant changes in the Iraqi economy. It is to be noted that earlier Central Bank reported that
cancelling out zeros from Iraqi currency is under planning of the Bank.

The prime difficulty will be - is withdrawing 30 trillion dinars from the Iraqi market at the present time
which will be replaced by new currency.
Previously the decision of eliminating zeros from Iraqi currency was not ratified by ministry of finance
as the budget was done with the present currency.
Updated 16 Apr 2013 | Soruce: Aswat Al Iraq | By S.Seal

http://www.iraqdirectory.com/en/2013/04/16/23689/three-zeros-to-be-cancelled-from-iraqi-currency-says-mp.aspx





Why means delete the Iraq 3 zeros from the Iraqi  dinar?

17-04-2013 | (Voice of Iraq)

A. D. Mohamed Ibrahim Saka
According to "CNN" announced the Finance Committee in the Iraqi Parliament that the central bank will begin in the current year by deleting three zeros from the local currency, in other words that the currency unit class A dinars from the old currency will be replaced dinar and only one of the new currency, and so on.
Move the oldest by Iraq intended to reform the system of local currency which is based on the use of currency denominations are too high, which leads to difficulties in dealing in special accounts transactions, as well as higher prices resulting from the use of monetary units categories are high, which leads to a decline in the rate Exchange rates and lower purchasing power of the dinar in a big way.
In periods of turmoil cash and declining public revenues of the state at a time when increasing the expenditures, resort states often to print more of its currency, leading to higher prices and the occurrence of high inflation, arise the need to currencies with classes as high as one thousand and one hundred thousand and one million ... Etc.. With each increase in the categories currency enters the economy in the midst of inflation.
One way to control the high inflation is a monetary reform, combined with a change in monetary policy by replacing the old currency Pfiadtha high with new categories of currency even lower prices tend to decline. But does he have on inflation? The answer is no, because the elimination of inflation state is required to follow a moderate monetary policy.
Read more: http://translate.googleusercontent.com/translate_c?depth=1&hl=en&ie=UTF8&prev=_t&rurl=translate.google.com&sl=auto&tl=en&u=http://www.sotaliraq.com/mobile-news.php%3Fid%3D96527&usg=ALkJrhga0Z82xUbYDQr4O-9WpGRCifI66A#ixzz2QnaHnBRv

Abbasn sheyaa: Central Bank establish procedures to prevent fraud at the changeover after deleting three zeros from
17-04-20 13 07:16 AM
Baghdad (newsletter). Detection of economy and Investment Committee member MP//-abbasn sheyaa, the date of implementation of the project to delete the three zeros from the currency early this year (2014), stressing that the Central Bank measures to limit fraud and manipulation that may accompany the Exchange process.

Said sheyaa (News Agency): the project is to delete three zeros of the Iraqi currency, but return to the currency structure of shorthand notes, stating that the paper will be the highest category (200) and is shorthand for the amount of 200 thousand dinars, the equivalent of 170 dollars.

He added that the Central Bank would begin with proactive project implementation procedures during the current year as printed currency and hiring companies to be the replacement currency early next year, pointing out that the Central Bank put strict procedures to prevent fraud that may accompany the replacement process.
He noted that the country needed to draft restructuring currency after deleting three zeros from being kissed on the expected increase in financial revenues in the coming years this would numbers and banknotes.

The project will include: coins & stamps, consisting of classes (half a dinar, dinar, JD, JD 10, 25, 50, 100, 200), so that the employee if his million it received a five classes of the paper (200), stressing that this process will facilitate a lot of financial matters and cash./finished/8 l. Eng.




Parliament for financial (time): draft structure of the currency is premature

– April 16, 2013
Print Friendly
Parliament for financial (time): draft structure of the currency is premature
Baghdad-Shima just
The parliamentary Finance Committee confirmed not to discuss the draft restructuring of the currency and reduce the incidence of fraud in house sessions usually topic is premature.
The Committee said the Attorney Secretary Hadi (time) on (the draft restructuring of the currency issue is premature and has not been discussed in the meetings of the Council but
there is a process or project to delete the zeros and it is discussed during the Committee meeting, the Governor of the Central Bank to limit discussion of the sales dollar at auction).
Its member of Parliament is considered a smart Attorney Najeeb, the restructuring of the Iraqi currency and removing three zeros became necessary as the project is economically
viable
and positive effects. Najib said in a statement today that (draft restructuring currency despite the challenges and difficulties facing economic, security and political feasibility but is
great for the country, noting (project Pat necessities which must be implemented on the ground in the current term).
She said (in need of concerted efforts and cooperation of all governmental institutions of the Central Bank, the Executive and Parliament to enact some laws, including the law
guaranteed the indebtedness to the creditor the right amount to condemnation after deleting zeroes).
She noted that (former Central Bank led by Sinan Shabibi and appearance of
Mohamed Saleh brought this project to the ends of the crucial and negotiated with solid global companies have a strong reputation in the world in terms of accuracy, reduce fraud and counterfeiting).
She said (the great harmony between the Executive and legislative institutions of State will increase the success of practical procedures especially that will remove the zeros will take
more than two years).
The parliamentary Finance Committee, asserted that the Central Bank according to official correspondence begins this year with three zeros from the delete actions in the local
currency, saying it will lead to the development of international economic and monetary transactions.

The Economic Committee member criticized Deputy Qusay Juma Abadi, the State's five-year plan, scheduled to expire in early 2014 as ô ink on paper Al-Abbadi said in a statement
 that the State's five-year plan to support the investment process and reduce dependence on oil imports and diversify budget resources did not show clearly one so far, noting the
adoption of the Iraq ô oil sector and no diversity in the resources of the State budget and the five-year plan was a dead letter without Any visible results on the country's economy,
calling for the formation of an Economic Council to research and study of the five-year plan for the years to come. He must be a real five-year plan and develop strategic policy for
the country under the supervision of economists and experts in the systematic programmes precisely to enable agricultural and industrial economic sectors and provide jobs for
the workforce and increase budget resources.
AZQ01

Finance parliamentary: Central Bank during the current year begins procedures

deletion of zeros from the currency

13/04/2013 2:18 pm

Baghdad. Morning
She said the parliamentary Finance Committee, the central bank and according to official communications of the current year starts procedures for deleting three zeros from the local
currency, saying that it would lead to the development of cash transactions and international economic.
And a member of the Finance Committee said Abdul Hussein al-Yasiri Center Brief for the Iraqi Media Network (IMN) "It According to official Almkhtabat, with the central bank, it is
supposed to start during this-General Balastaadadt for deleting three zeros from the local currency."
He pointed out that "the local currency will reduce from four billion to one billion unit unit which will make there انسيابة in the process of transfer
of the currency."
Yasiri between that "the Finance Committee to make changes to support the local currency because of the economic importance to the country."
The central bank says that the deletion of zeros comes under a plan to develop its monetary policy and currency management reform.
He was a member of the Finance Committee parliamentary Haitham al-Jubouri, had said in an earlier statement to him that "the replacement of the currency and delete Ocefarha will
features the best and biggest reduce the size of inflation and revive the dinar due to lack of demand for the dollar, which comes advantages of a large economy of the country, and to
replace it will revive the economy Alibd but needs to political and economic atmosphere appropriate to carry out the project without facing any obstacles lead to a deterioration of the
Iraqi currency. "

The CBI had said in August that it plans to delete the zeros from the Iraqi dinar to facilitate financial transactions carried out through cash in most cases. Among the difficulties faced by
Iraq if they are to foot on the deletion of zeros from the dinar is pulling about 30 trillion dinars in circulation in the Iraqi market now, then discarded and replaced with new currency.
_______________________________________________________________________________________________________________________________________________
Politicians continue to debate dropping zeros from the IQD
Posted: February 24, 2013 

Screen Shot 2013-02-24 at 11.21.22 AMFears delete the zeros of the Iraqi currency

Raed al-Hashemi: The process of deletion of zeros is a necessary step for administrative reform of the currency (IRIN)

Agreed politicians and economists Iraqis that the process of deleting three zeros from the Iraqi currency current risk because

of conditions of the country and the lack of security and stability and the spread of corruption, where Iraq is seeking to reform the

system of currency management and ease of use and reducing the number of banknotes of four billion to one billion and 800

million paper, from by deleting three zeros and the issuance of a coin.

The decision of the Finance Committee in the House of Representatives MP Ahmed electrodes of the island that Multi deletion of

zeros from the local currency is still under study within the economic issues, not pending until now because of crises many

experienced by the country, as well as problems that accompany the adoption of the financial budget for the current year.

He pointed out that this process is not possible at the present time because it will lead to a problem in the Iraqi economy.

The electrodes that the Finance Committee inquired from the Iraqi Central Bank on its preparations to change the currency without getting fraud where, and expressed its readiness to

this process, but the problems that have occurred in the country in addition to the crisis the central bank, which led to changes in leadership, stopped this process.

He pointed out that Iraq can not be doing the process now, and added, “We need to stabilize the general situation of the country, in order to prevent any attempt to exploit this procedure

by the corrupt.”

Screen Shot 2013-02-24 at 11.21.33 AMSupport monetary policy
For its part, the MP said the Finance Committee Najiba Najib of the island that this project was in the time of former central bank governor

Sinan al-Shabibi, has been studied by the parliament well, resulting in the latter to address the Council of Ministers to support this project, and

there was a negotiation and dialogue with A number of international companies on the deletion of zeros, indicating that this process is a good

step and help to support the country’s monetary policy.

She added that this issue has no echoes currently in parliamentary community and senior in Iraq because of the dismissal former central bank

governor and refer the matter to the Integrity Commission, explained that the project will succeed if given the government and the House of

Representatives and all institutions supported because it will prevent fraud and removes fear if the procedures properly.

She explained that Iraq needs to restructure its currency, as there is no class more than 25 thousand dinars, as well as coins, which confirms that the current currency does not fit

with the Iraqi state revenues, which have significant financial budgets.

Najiba confirmed that there is a lack for money on the market, and that change would have a currency with economic feasibility to take all legal precautions and necessary legislative and government, while making the timeframe up to one year to change the citizens their money, in addition to the increase in bank branches.

He says economic expert pilot Hashemi The process of removing zeros is a necessary step and task comes within the country’s need to process administrative reform of the currency contributes to reduce transaction costs and trading cash in the economic process, and reduce the size of the money supply in the country and help facilitate the calculations and

reduce the inflating numbers, if applied correctly and appropriate Baltoukitat.

Screen Shot 2013-02-24 at 11.21.39 AMPrice policy
He also added in his speech to the island revealed that the issuance of the small groups will facilitate pricing policy accounts, but the

replacement will not affect the currency to tackle inflation significantly.

He cited countries that have applied this process such as Sudan, which delete zeros from its currency in 2007, and Turkey, which deleted

six zeros from its currency in 2005, and omitted Zimbabwe in Africa ten zeros from its currency in 2008, and Bolivia deleted three zeros from its

currency in 2008, and deleted all from Romania Iran and three zeros from its currency in 2005 and 2011, but did not improve the value of the

currency in these countries significantly and inflation index remained conservative on the rise.

He pointed to two important matters in the application process of removing zeros are: first choice timely which the Iraqi economy in a state of

stability, and the second is to create the economic environment is considered to apply the deletion process, and this needs to be procedures and financial decisions and banking

taken financial authority in the country.

Hashimi concluded his speech by saying that the implementation of the resolution at this time is appropriate and is considered a significant risk to the unstable security situation

and the country’s economic.

___________________________________________________________________________________________________________________________________________________

Economic parliamentary: the new year will witness the birth of the new Iraqi currency

Sunday, 02 January 1 / December 2012 09:45

Twilight News / excluded for economic and investment commission parliamentary, Sunday, that the new year would witness the birth of the new Iraqi currency deleted three zeros,

noting that the Central Bank of Iraq was aspires to equal the value of one dinar per dollar.

He said the Commission's decision Mahma Khalil in an interview with "Twilight News" that "the new year will

witness the restructuring Iraqi currency deleting three zeros, and therefore would not be witnessing the birth of

new Iraqi currency because of the government's refusal to this project," noting that "the government believes that

this work is not of its priorities. "

Khalil added that "the economic and investment commission strongly supported this project with the Governor of

the Central Bank because the purpose of it purely economic and is to maintain the Iraqi currency from counterfeiting, damage and fraud."

Khalil pointed out that "there was countries with successful experiences in this area and the re-structure of its

currency and deleted some zeros, and we seek to follow suit."

Khalil said he was "under Article 46 of the Law on the Central Bank of his powers to issue new currency or new categories and maintain the value of the Iraqi dinar against other

currencies."

Khalil continued that "the very bank of the move is that the par value of the Iraqi dinar per one U.S. dollar after the deletion of zeros and are blocking the way of fake currency dealers,

as well as the new currency was non-perishable easily."

Referred to the Central Bank of Iraq began Consideration of an amendment dinar categories last year, and is still a big part of the payments being in cash due to the evolution of the

banking system.

The Cabinet had decided, in mid-April last year, wait in the application of the deletion of zeros from the national currency.

And revealed the Finance Committee in the House of Representatives, last July, the postponement of the deletion of zeros from the Iraqi currency, which the central bank intends to

initiate them into the year 2014.

X G / IraqNews

__________________________________________________________________________________________________________________________________________________

Deleting three zeros and add the Kurdish language as well as English and Arabic for the new currency


Palm - central bank adviser said the Iraqi appearance of Mohammed Saleh, said that the bank is serious implementation of the project to delete three zeros from the national currency in the near future.

Salhan said it depends on at the present time to form the next government and parliament two new Saokhman upon themselves determine the mechanism under which the application of the deletion of zeros from the Iraqi currency.

He added that the deletion of zeros will contribute to reduce the size of the inflation and reduce the size of the money supply in the market of 26 trillion Iraqi dinars to nearly 25 billion dinars, indicating that the Kurdish

language to be added to the new currency as well as Arabic and English.

He pointed out that the large number of funds traded in the market led to get confused in the large commercial transactions, and in the work of banks, adding that the deletion of three zeros from the Iraqi dinar will lead to

reform the system of management of the national currency and thus improve and revitalize the Iraqi economy.













Parliamentary Finance: the next budget will be free of zeros

BAGHDAD - World

Parliamentary Finance Committee announced, Tuesday, that the budget for next year 2013 will be the new currency after deleting three zeros from the current currency, arguing that the reluctance of traders and companies from trading in the Iraqi currency behind the adoption of the Central Bank project to delete the zeros.

Said committee member Najia Najib said in an interview for "Alsumaria News" that "the budget next year will see a deal in the new currency after deleting three zeros from the current currency," indicating that "the process of switching the currency and delete the zeros will take nearly two years after the preparations for the process, which began over a year ago ".

The answer that "the Council of Ministers approved during a meeting with the Governor of the Central Bank on the project to delete the zeros and switch Iraqi currency after deciding earlier to wait the project as a result of the high price of the dollar in the local markets over the past months," noting that "the project to delete the zeros and the currency exchange aims to restructuring of the Iraqi currency and a way that is consistent with doing business in Iraq, internally and externally. " 

She stressed that "the Finance Committee and the central bank agreed at its last meeting to be next year as the date to start deleting zeros and be balanced in 2013 in the new currency only if there is an obstacle transmitting without it," emphasizing "the need to support the government and parliament of the project to restructure the Iraqi currency."

Naguib considered that "the reluctance of traders and companies for the use of the Iraqi currency and trading may push the central bank to adopt the project to delete the zeros", stressing that "this project would reform the system of currency management and ease of use."

______________________________________________________________________________________________________________

Cutting zeros off Iraqi dinar and proceeding with its redenomination to be launched in July 2013



10-08-2012 - 00:00


Business

| Source:  


1796 views



alsumaria

Parliamentary financial committee considered, on Thursday, that cutting zeros off Iraqi dinar and proceeding with its redenomination will be launched in July 2013. Central bank of Iraq eliminated all related concerns, the committee advanced assuring that Iraqi government will be supporting the project after examining its pros and cons.

“The financial committee is supporting cutting zeros off Iraqi dinar and its redenomination,” parliamentary financial committee member Haitham Al Jabouri told Alsumarianews deeming it necessary that the government takes part of this project for being responsible of the country’s financial policy-making. “This project will be launched in July 2013,” he revealed.

“Central Bank eliminated all concerns related to the dinar redenomination after warning from money laundering or inflation increase,” Jabouri added indicating that Central Bank formed special committees to control any similar impacts.

“Iraqi government didn’t reject the project source, but rejected not knowing about it,” Jabouri pointed up advancing that the government will be supporting the project after examining its pros and cons.

Parliamentary financial committee expressed, on July 13, its support for the currency redenomination given that Central Bank makes all necessary preparations regarding it. “Central Bank requires one more year to start redenomination process,” the committee uttered.

“We are ready to investigate reasons behind Iraqi cabinet’s reluctance towards dinar redenomination regardless of Central Bank’s capacity to perform the process without risks of money laundering that could affect the entire economy,” the committee stated on July 11th.

___________________________________________________________________________________________________________________________________________________





Recent developments at CBI will not affect process of lifting zeros, Monetary policy doesn’t depend on a person says Member of Finance Committee

Parliamentary Finance: change management of the Central Bank will not affect the process of lifting the zeros

| On 2012-11-01

According to a member of the investigative transactions CBI and a member of the parliamentary Finance Committee Haitham al-Jubouri said the process
of lifting the zeros will not be affected in the administrative changes that have taken place in the Central Bank of Iraq recently.

Jubouri said the newspaper “integrity electronic” The process of lifting the zeros or replace currency has nothing to do with events that took place in the central
bank recently, noting that monetary policy does not depend on a person whatever his status administrative, but depends on the institution in charge of
political الاستراتيجة which include process raise zeros and replace the country’s currency.

Jubouri announced the arrival of special equipment to replace the currency by the English side to the country Mushir that there are specialized committees will
these measures, if any, within the plan in the country’s monetary policy.

It is noteworthy that one of the members of the Knesset Finance Committee announced that monetary Aalssayash in the process of lifting the zeros Stadtther
benevolent result of events that took place in the Iraqi Central Bank on Shabibi. http://bit.ly/Vf2bP
CBI wants zeros dropped in conjunction with 2013 budget; Calls to accelerate study and form committees





CBI: we will hold the banks (sic) accountable that we have the counterfeit currency when you switch the new currency

BAGHDAD -The Central Bank of Iraq that it will hold any bank found in his possession counterfeit currency during the

process of switching the currency when you delete the zeros of the three of them.

The deputy governor of Bank of the appearance of Mohammed Saleh told a news briefing that the central bank has drawn up

plans described by the Court to prevent the emergence of counterfeit currency during the process of switching the currency,

calling at the same time to accelerate the formation of committees of governmental, parliamentary and trade union to study

the draft to delete the zeros, which is hoped to proceed by early next year in conjunction With the release of the budget in

2013 for the implementation of the urgent need for this national project.

He explained that the costs of printing the new currency would be borne by the central bank alone, without request from the
 government allocation of funds for printing.

http://bit.ly/KCQ6ib

Announced a short time ago and closely the implementation of the decision to delete the three zeros from the Iraqi currency, and that
the project will be launched early next year and will continue for two to three years.
Daylight / Economic Section announced a short time ago near the implementation of the decision to delete the three zeros from the
 Iraqi currency, and that the project will be launched early next year and will continue for two to three years. He then appeared other
comments announces lingered government to the implementation of this resolution and postponed to another date .. So is the project
will remain a dead letter, as described by the Deputy Director of the Central Bank of the appearance of Mohammed Saleh? ....
And received the decision to delete the zeros from the Iraqi currency a lot of opinions pro and con, there Economists believe that the
decision will lead to the collapse of the national currency and see some last he would return to the country benefit the country It is
unfortunate patient in its implementation because it is a joint venture between the government and the central bank.
As long as the government seeks to postponed due to security concerns, it can not be implemented in this year or the year after that -
according to deputy director of the Central Bank -
Timing is very important in this case is also implemented, they must coincide with the beginning
of the fiscal year, so you will not find space for implementation inevitably through this year .
.
and regrets for the postponement of the project because it
 is economic benefit to the country as long as improve the efficiency of the currency and reduce the impact of large numbers, then dealing with cash needs
into categories cash large and small, as will be dealt again categories such as (50 dinars) and (100 dinars) and (200 dinars) in addition to the categories of less
than dinar (such as half a dinar) and (quarter of a dinar) and (50 fils) and (25 fils).
which is confirmed by financial and economic expert at the Central Bank Majid
picture that sees no difficulty in implementing the decision because it will help in process to reduce trading volume of currency in transactions large and will lead
to fee pricing policy more accurate in the future as long as it will be dealing thousands and millions rather than billions, as well as its role in the detection of fraud
 earlier because the central bank will impose on banks to use modern techniques very to detect fraud. adds, "and the techniques that will be used in the printing of
the new currency will be difficult to penetrate, but if behind that organized gangs or backed by the state because the specifications minutes and styles to be established
 by the central bank will be very strict.

"On the other hand warns economist Tawfiq inhibitor of the collapse of the national currency in the case of the application of the decision to delete the zeros The three
of them, pointing to the need to prolong the period of the currency exchange and not withdrawn the old currency and launch new direct, but doing so together in order
not to cause harm to the economy or any direct impact on the living conditions of the citizens.

Elsewhere sees inhibitor that process counterfeit currency is another reason its collapse and therefore warns that happens, especially as there are great bands and
mafias currency capable of forging greater currency in Iraq. seen most citizens to decision deleting three zeros from the national currency look apprehension after
accustomed pockets to carry the bank notes and large accustomed stakeholders were dealing with hundreds of millions . believes businessman Saleh weighted to
delete the zeros will hurt the level of share trading in the Iraqi market for securities, because there are shares lost in case of deletion of zeros. works weighted in stock
since 2005 and increased his passion for them when evolved using screens electronic, but does not hide his fear failure of dealing with them, especially since foreign
bourse fall leads to block the signing of agreements with foreign investment companies, which believes that the change of currency will reduce profits. In response to these
 concerns, stresses, deputy director of the Central Bank, "the power of the Iraqi dinar, which became like a hard currency thanks to the policy of the central bank in control
of the cash raised in the domestic market.
" He pointed to the existence of a large cash reserve of hard currency is kept to face the difficult circumstances that may occur in the country gives the strength of the dinar
against foreign currencies. The central bank's policy is aimed - according to the benefit - to the stability of the exchange rate of the dinar against the U.S. dollar, likely equal
to the price of the Iraqi dinar against the U.S. dollar during the next two years after the implementation of the project to delete three zeros from the Iraqi currency.
__________________________________________________________________________________________________________________________________________________

Editorial: The pros and cons of deleting zeros

Posted: October 11, 2012 in Iraqi Dinar/Politics


Raised the proposal to delete the zeros of the Iraqi currency sensation has interested in economic affairs and apprehensive citizens there are of considered a step in the right direction
to restore the prestige of the Iraqi currency and get rid of inflation suffered by the Iraqi economy, especially the volume of currency in circulation which estimated up to 30 trillion dinars
Adin decision is an important step in monetary reform and strengthen the confidence of citizens in the national currency in the view of other parties,

including the government’s proposal to delete the zeros will carry the country overloaded being will increase the phenomenon of money laundering and would negatively affect the financial trading in the stock market with the possibility of higher inflation and higher rates of current and between different visionaries found necessary approaching this subject and the valley where an attempt to simplify what is happening and to inform citizens on the merits of the deletion of zeros from the current currency

* Continuous suffering

Beginning with Managing Director of the Company and Mesopotamia Banking Ali Hamza of Haider, who spoke to the reporter (news agency, media / INA) for “standing with the decision and the replacement of the existing currency being will contribute to the reduction of suffering and problems suffered by the Iraqi economy in general” and indicates the Haider to “The presence of foreign agendas implemented from neighboring countries purpose of weakening the Iraqi dinar and destroy the country’s economy by pumping fake currency in the market and that cause not to trust in the Iraqi currency and thus a collapse of the national economy”

Adding, “We are the owners of banking offices suffer a lot from the current currency to the presence of large quantities of counterfeit currency, particularly class ten thousand dinars bearing the high-tech fraud and although the experience that we have in the field of currency, but we can not control them”

“It is strange that we get sometimes on counterfeit currency through some government banks and the big problem we lose through confidence in the currency current and make most of the citizens are turning to foreign currency dealing and storage addition there is suffering for currency small as currency hit fatigue can not intervene in counter currency because of damage to the leaves so we pay additional amounts to the banks in order to be delivered “

The director of banking company continues by saying “One of the problems that we are experiencing in the current currency is difficult to carry because of amplified where can not be any dealer or businessman to carry huge amounts of money, especially the security situation is still unstable in some areas,”

* To Atathir value purchasing

Perhaps the business is most affected by the change, which awaits the existing currency and in order to know the negatives and positives that will surround the work of trade and the new currency Tell Engineer Sadiq Hashim Afaihan Chamber of Commerce of Babylon, saying “the process of deletion of zeros from the Iraqi dinar will not affect the value of currency in circulation and therefore will not affect the purchasing power of the Iraqi dinar and so the value will remain fixed and will not benefit the buyer of the dinar current something after deletion of zeros as will change gradually and lasts for more than a year to be where the old currency is present in the markets along with the new currency and this happened in some countries such as Turkey, which remained two currencies in circulation for four years until citizens are accustomed to it and slowly dissipated fears and so the citizens will not win a thing of the deletion process, considering that the currency’s strength is measured by the level of stability and demonstrated value for disbursement and concentrated on the strength of the productive sector capable of providing goods and services “

Adding that “the deletion of zeros is a formality and not really called illusion cash and of Mbrarat raised by the Central Bank is to reduce the use of the dollar in the insider and ease of carrying currency and facilitate banking transactions and reduce the money supply currently in circulation and facilitate accountable individuals and restore confidence in Iraqi dinars locally and internationally “

* To be media campaigns

According Afaihan “on the central bank to intensify the information campaign to publicize the potential consequences for the economy and the value of the currency after deletion of zeros through various media as well as through the organization of seminars and conferences in the provinces, as it must be emphasized that the purchasing power of the currency will not Taatgier and reassure citizens and traders and businessmen and to create citizen to accept the new currency and dispel fear felt by and clarify that the operation is the deletion of zeros only, without revaluation of the currency and its exchange rate and whether the operation will be while retaining the form of currency or that form of currency will Itagier and what categories new cash, which will be traded and print it all must citizen knows before the coming of the new currency.

The show President Chamber of Commerce Babylon fear “of the emergence of mafias currency, which is preparing to rig the trillions of dinars exploited to change currency also mentioned the central bank governor Dr Sinan Shabibi during a session of the Parliamentary Finance Committee, saying that from 8-16?% Of classes ten thousand dinars and a five and twenty thousand dinars currently in circulation are counterfeit “

Amadvia “Among the negatives and drawbacks of the process of changing the currency is the cost of printing high in addition to the cost of destroying the old currency and could exploit the process in money laundering and increase administrative corruption to switch counterfeit currency and confuse business dealings and increase demand for the dollar, which increases the rate of exchange in the domestic market and thus increase commercial commodity prices and rising inflation undermines confidence in the Iraqi economy “

* Block high cash

The following قفتنا was a professor at the College of Business and Economics University of Babylon Dr. Jawad Al-Bakri, who began talking about the historical development of the Iraqi currency, saying “the Iraqi dinar was linked to Sterling for a long time, but now pegged to the U.S. Dollar. Did not change the rate of the dinar against the U.S. dollar throughout the period between 1987 and 1992 as the U.S. dollar was equal to 0.311 Iraqi dinars. There are restrictions on foreign exchange and foreign exchange dealings and after the second Gulf war, the deterioration rate of the dinar influenced the economic embargo imposed by the United Nations.

Adding “today of the money supply nearly 30 trillion Iraqi dinars to the various groups and under price stability and optimism in Iraq Development, it became necessary radical reform on the system management of currency and the re-structuring, commensurate with the prices of new goods and levels of wages and salaries, which differed significantly from the last thirty years , in addition to dealing large lump of cash in components so weak currency has become the largest category of Atsawi only 21 U.S. dollars at the present time. Considering that the rise in GDP for Iraq of $ 140 billion at year-end 2010 to more than $ 300 billion at the end of 2015 will increase the money supply exporting of 30 trillion dinars to about 70 trillion dinars “

* Positives

And we have been asked about the positives of the decision to delete the zeros and currency exchange Re-Bakri, saying “one of the most important pros are off dollarization of the Iraqi economy, which is one of the most important challenges facing policy makers in developing countries in general and Iraq in particular, which means the use of the U.S. dollar or any currency foreign her ability replacement of the national currency in transactions and contracts internal financial promise a store of value at the same time. either positive second will be through reducing inflation rates Balamd average, which include raising the external value of the Iraqi dinar (ie the nominal exchange rate) in a manner commensurate with the real exchange rate to contain inflationary expectations, taking into account the trends emerging inflationary level acceptance and availability of reserves inflationary level acceptance and availability of international reserves at the Central Bank of Iraq and a way inhibits inflationary expectations referred to above and to reduce the speed of circulation of money, the deleted three zeros means converting 30 trillion dinars to $ 30 billion by deleting three zeros from the current currency and replace it with a new currency “


Bakri continues, “that among the pros is not the impact of currency exchange contracts and obligations between natural persons and legal entities all. It so-it generates function sports homogeneous class zero as long as the amount of new money younger figure covers the exchange package commodity itself in money the old with the largest number in addition to restructuring the currency and installed – for the category large amount of 25,000 dinars are alone (two thirds of the amount of securities traded ), the issuance of larger groups mean reduction of four trillion banknote currently in circulation and converted to a number equal to (2.8) billion and banknotes. As Stakhtzel large groups of currency nearly 90% of the total exported to trading groups “

* Cons decision

The Bakri said the most important negatives that accompany the process of deletion of zeros is monetary illusion as the deletion of three zeros from the Iraqi currency will sign the citizen under penalty of monetary illusion, which is the most prominent negatives that can infect the Iraqi citizens in the event of deleting three zeros from the current currency is the impact of moral and falling per capita under penalty of monetary illusion and suffering panic and all this would be the result of colliding with the value of the new currency after deletion, which leads him to believe that the value of its assets fell by dividing by three zeroes “

According to Dr. Jawad al-Bakri, “The time that has been announced to change the currency and delete the zeros produced that references the political in the Iraqi state has a great role in the acceptance or rejection of the proposal. Addition to the corridors of monetary policy in Iraq where there are parties shows and supporter as well as the move seems At first glance, a cosmetic change, but specialists to look at the long run “

He continues Bakri findings by saying “There is no numeric scale from which to measure the benefit that could be for a particular community that derived by deleting the number of zeros in the currency and opinion polls showed the desire of the Iraqi citizen to see its currency strong as the former. Thus, the process of lifting the zeroes will raise the value of the currency and reduces the demand for hard currency that powerful, would restore the balance between the value of local and foreign currency and give it market power at home and abroad, which could lead to currency appreciation Iraqi front the U.S. dollar , for example, that an employee who receives 400,000 dinars at the exchange rate of 1200 be its purchasing power in dollars $ 333 and if the strengthening of the dinar equivalent, for example = 500 dinars to the dollar will become purchasing power of $ 800 instead of $ 333

* Difference in public opinion

It is strange that this decision carry differing with the decision-makers as cautioned Advisor to the Prime Minister for Economic Affairs, Dr. Abdul Hussein Al-Anbuge in a press statement “of the risks that may accompany the process of replacing the currency and deleting three zeros of them, considering that this matter will return the largest of corruption in the history of Iraq and will lead to add trillions of counterfeit currency that will go to the Holocaust in exchange for coins “

Pointing to the receipt of information said it is almost certainly the presence of mafias operating since now for counterfeit currency in order to exploit some weak souls and corrupt during times replaced with new ones and adding at the same time that this procedure will not return any benefit on the Iraqi economy at the moment “

Noting that “the current circumstances through which Iraq will not leave any positive impact on the local real economy after deleting three zeros from the currency from afar or from a nearby”

Adding, “It was better on economic policy-makers before this procedure is to pay attention to development or administrative reforms, tax or entire banking experiencing serious declines, which can lead to obstruction of many vital economic targets that Iraq seeks to achieve. “He said

The central bank governor has said during an interview made ​​by his deputy, Dr. appearance of Mohammed Saleh to resolve the bank to proceed with the project to delete the zeros of the Iraqi dinar, converting a thousand dinars to one dinar, pointing to the adoption of a long term plan for this project, which would be reluctant money supply Iraq’s vast – according to Saleh – who between well factors such action which he described as critical, saying that “Iraq is a country that suffered inflation runaway during more than two decades ago, reflected inflation monetary enormous, for example, rose monetary issuance of about 25 billion dinars in the early nineties, becoming in 2003 six thousand billion. “

And Saleh “that the draft raise three zeroes from the currency made ​​by the government five years ago to the Central Bank, and underwent throughout this period to an extensive study over the need to raise zeros to strengthen the value of the Iraqi currency.”

Results

1 that the deletion of zeros from the current currency new currency increases the purchasing power of the Iraqi dinar currency فاستبدال attendant economic benefits for the country and accompanied by a feasibility study and financial.

2 that the deletion of zeros in the process if implemented, it would limit the size of the money supply and facilitate the circulation of the new currency and this would be reflected positively on the economy of the country.

3 that the presence of three zeros in the figures of the currency is illogical and loss due to excessive confusion that gets dissuade currency trading, as well as continuing high inflation rate of Iraqi currency.

4 that the process of deletion of zeros lead to increased market confidence in Iraqi dinars and ease of trading is still each shorten the figures in daily deal in buying and selling a thousand dinars saying dinars, or half a dinar and so on.

5 that the deletion of zeros neither gains nor the consequent loss does not mean only change what is changing is the number expressed just like (1000) meter is equal to (1 km), what has changed is the name of the unit of measurement just is not.

6 that there are some countries in the world the process of deletion of zeros from Sudan since removed two zeros from its currency in 2007 and Bolivia deleted three zeros from its currency in 2008 and the state of Zimbabwe deleted ten zeros from its currency in 2008.

7 If the Iraqi government was able to make the new Iraqi dinar after the deletion of zeros from him equal to or worth more than the value of the dollar as it was in the past when exchange, we are all, without exception, with the deletion of zeros and replace the current currency new currency free of zeros as it once was.

Through the foregoing and what has put the views of the professionals to be recognized that the process of lifting the zeros from the new currency is necessary and of great importance to the Iraqi economy but needs to extensive studies from which to find ways in ward off corruption from the process with all its reasoning in order to restore the Iraqi dinar prestige in front other currencies and to educate citizens about the expected results of which to dissipate his fear of change that dominated the currency.

http://bit.ly/RRpSuh


CBI allowed to sell the dollar directly to citizens, Economic Committee member believes its in preparation for dropping of zeros

06-10-2012 12:35 PM

Description deputies and economic experts Iraqi decision of the Central Bank of Iraq fired dollar selling directly to citizens, with raising the

ceiling of foreign remittances, the bold step and controversial, noting that it would use for the benefit of Syria and Iran.

The «Central »In an official statement, its ability to meet demand for foreign currency in full, not intersect with the law against money

laundering, crime and financing of terrorism, as decided to amend the instructions auction of foreign currency within his quest to move

to the drainage system free and open, including the abolition of ceilings amounts foreign currency sold to banks daily to foreign exchange.

It also decided to double the foreign currency ceilings sold in cash to banks on a weekly basis. The banks have the right to determine the

sale price of foreign currency to their customers, purchase and cancellation of previous selections, as foreign exchange sold by the banks

to customers up to five thousand dollars to the customer in exchange for highlighting civic identity only canceled the conditions and other

details.

He explained that he would continue to cooperate with the concerned authorities in the fight against money laundering and money, crime

and terrorism, and any illegal Dealings, calling for adherence to the anti-terrorism law.

The bank issued strict instructions governing the sale of currency by banks, including requiring those concerned in the activity of the Iraqi

private, traders, industrialists and segments other productive who import goods and services and production requirements and equipment

development, when applying to private banks to participate in an auction of foreign currency to finance Mistordathm cross conversion or

open letters of credit, the obligation at an exchange rate of $ 1189 dollars for dinars, after having documents that prove importation in

accordance with standard international norms of documentary credits and remittances and instructions.

She described a member of the parliamentary Economic Commission Nora Salem البجاري decisions « Central »as« bold »and came in

reaction to recent accusations launched by senior government officials against him, including statements made ​​by the Secretary General

of the Council of Ministers on the Keywords.

It pointed out «many negative will impact the application of these amendments , including the possibility of exploiting some weak people

of customers banks such mechanisms to collect large amounts of dollar to finance those smuggled currency to Neighboring countries,

especially those that suffer from economic sanctions, ie, Iran and Syria.

She pointed out that «increase and I think he was trying to prepare to stage the deletion of zeros from the national currency and raise the

value of one dollar of the dollar.

He stressed that «Central is a technical body and has no regulatory mechanisms to monitor the market, and here will be the responsibility

monitor currency smuggling and the financing of terrorism, crime and money laundering, the responsibility of others, mostly unfortunately

not competent and does not have the trained staff.

The Keywords stressed that «less than five percent of the foreign transfers are legal , and the amounts that fled abroad during the past

years is estimated at $ 180 billion », adding that« the government when exhorts central to intensify control over the movement of funds, it is

not an interference in Bank’s work, but aims to maintain public money.

He pointed to «central claim to tighten controls on the movement of funds and activate the Office of the Inspector General, who was

appointed prime minister, but the bank rejected the idea of Inspector and Vowed to take some actions that limit the smuggling of currency

and control the workTel of banks. But the government has not seen any results of the procedures and reached the things that converts

from Iraq $ 180 billion without a document or document conversion or output, especially that this amount represents half the country’s

revenue during the past years and out were in accordance with the processes and fake titles lined, raises suspicion and wonder.

The «Central» «currency auction supervised by since 2004 sold about $ 200 billion for clients, a civil banks and money transfer companies,

as daily sales rates range between 125 and 200 million dollars during the five sessions a week.

http://bit.ly/VJ5rkM

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Economist Opinion: Deleting zero’s is necessary for the citizens

Economist: project application must delete the three zeroes to serve the citizens and the local currency
Date: 10/05/2012 15:42:39 Friday

Baghdad (news) .. Stressed the economic expert عبدالحسن Shammari, the need to apply the project to delete the three zeroes from the

currency because it hurt to serve the citizens and the national currency by reducing the masses of cash with groups large in the local market.

Al-Shammari said (of the Agency news): The implementation of the project to restructure the Iraqi currency after deleting three zeroes

which is necessary for it would serve the citizen and the national economy, considering that groups large will turn into a thousand small

unit, which will facilitate transactions in the market and accounts for government departments.

added: that the project will provide additional financial resources of the country through printed Coins (quarter dinars and a half dinars

dinar) where the life span of these categories (25) year, while paper-old does not exceed three months for it’s fast handling and

damage. pointed to: that the state is printed annually Banknotes limits of (250 – 750) million dollars per year, when the implementation of

the project will cut the federal government for printing new currencies annually, which provides money could be used in projects of the

country.

This prepares the central bank to implement the project to delete the three zeroes from the national currency after the completion of all

procedures related to the project, but so far no date has been set applied over calls by some officials to postpone . has demanded the

prime minister the central bank to wait to draft deleted three zeros from the local currency, saying he was a big project and it needs

enough time to apply.

http://bit.ly/SydIZQ

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Junior member of Iraq Finance Committee: Postponing dropping of the zeros ill-advised; Should speed up implemention

Member of the Finance Committee: postpone the project to delete the zeros is Saeb a decision important to deflate
Date: 23/09/2012 11:12:48 Sunday

Baghdad (news) .. Student member of the Finance Committee MP / coalition Iraqi / Hassan Ozmn, the Ministry of

Finance and the Federal Government and members of the House of Representatives, to speed up the


implementation of the project to delete the zeros at the beginning of 2013 and not postponed to 2014.

said Ozmn (of the Agency news) on Sunday: The postponement deletion of zeros to 2014, the decision is rightly due to rising inflation,

calling for implementation of the project in early 2013 to ease inflation.

added: to Aistojb postponement of the project ready for implementation and there is no hampered or requires postponed, noting that the

project will turn Iraq from a country two trillion to the country billions and relieves inflation

Alternate translation:

Member of the Finance Committee: postponement of draft decision unreasonable zeros deleted and is important to absorb inflation
Date: 2012-09-23 11: 12: 48 Sunday

Baghdad (newsletter) … Student Finance Committee member MP/Iraqi/coalition Hassan aozmn, Ministry of finance and the Federal

Government and members of the House of representatives to speed up implementation of the project to delete zeros in early 2013 and

not postponed to 2014.

Said aozmn (News Agency news) on Sunday that postponing the deletion of zeros to 2014, ill-advised decision as a result of high inflation,

calling for implementation of the project in early 2013 to ease inflation.

He added: don’t need to postpone the project ready for implementation and not hindered by or be delayed, stating that the project would

prevent Iraq from country to country 2 trillion billion and eases inflation

http://bit.ly/PXe85X


Economic Committee Member: the application of deleting of zeros from the currency is necessary because the public budget will reach $200 billion dollars in 2015

Date: 22/09/2012 05:53:44 Saturday

Baghdad (news) .. called decision Economic Committee MP / coalition of Kurdish blocs / Mahma Khalil, to the need to apply the project

to delete the three zeroes from the currency during the next two years to reduce the money supply and to facilitate financial players in the

counting and counting budgets coming, likely that reaches the general budget to (200) billion dollars in (2015).

Khelil said (of the Agency news): The restructuring of the Iraqi currency by deleting three zeroes which is necessary for the local currency

because of the mass of large cash in the market, they must implement the project within the next two years.

He added: Budgets Iraqi Finance will increase gradually over the coming years and will reach (200) billion dollars, up more than (240) trillion

Iraqi dinars These require deleting three zeroes from the currency in order to facilitate the work of the Ministry of Finance and the relevant

committees budget that is money and Ihsoua more accuracy and clarity .

and pointed out: that the Iraqi constitution gave the authority of the Central Bank in the currency change and restructuring For the central

bank accelerates the implementation of the project is not in the next year, but must at the beginning of the year (2014).

http://bit.ly/OPouE6

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Parliamentary committee confirms legal project to delete the zeros from the Iraqi currency

09/19/2012

 
Parliamentary committee confirms legal project to delete the zeros from the Iraqi currency

Wednesday, September 19 / September 2012 14:19

{Baghdad: Euphrates News} parliamentary legal committee confirmed that the draft deleted three zeros from the Iraqi currency is a legal
project does not contain any defect violates the provisions of the constitution.

A member of the Committee cute Mustafa Euphrates News Agency {} on Wednesday that "the project to delete three zeros from the Iraqi
currency is a legal and does not violate the Iraqi constitution."

He added that "his committee reviewed the project to delete the zeros from the currency and found that the project technician rather than
a legal".

The cute "The Iraqi government decision to remove zeros from the currency if it will cause harm to the Iraqi economy or contribute to its
construction."

The central bank announced earlier that the project to delete the three zeroes from the Iraqi currency will transfer the country from a
country trillions to billions.

http://www.alforatnews.com/index.php?option=com_content&view=article&id=22163:2012-09-19-10-44-21&catid=37:2011-04-08-17-2
5-57&Itemid=57
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CBI’s Saleh: And an economic point of view; Project deleting three zeros and cash transaction costs

On: Wednesday 19/09/2012 07:56 am

d. The appearance of Mohammed Saleh

In light of economic conditions and volatile financial and inflationary pressures that has befallen our country before,

and led to negative effects on the regularity of the commercial market and labor markets and production and

citizens’ standard of living, has generated many distortions in the structures and economic relations, and among

which was Seen block cash, many zeros, of little value, and in a manner not commensurate with the future

developments in the present and future of the Iraqi economy, which requires finding a solution to these conditions and offal, and these

solutions reform management system currency through restructuring and the deletion of zeros to control the flow and manage the cost of the money supply in an optimal manner.

The trading bloc cash exporting more than the 37 trillion Iraqi dinars to the various groups as reflected by the number of securities traded

$ 4 billion and banknotes are the product of a long period of inflation and economic decline, rising for example index of consumer prices

base 1993 from 100 to 200,000 in the midst of the year 2003, which means that the item was sold for 100 dinars became sold for 200,000

dinars … And so on. And under such circumstances, the deterioration of the value of the currency category increased rates greater than

25 dinars to 25,000 dinars, which means that inflation is added zeros.

* Does not fit the current denominations with the current economic situation and the next. For example, before the outbreak of the Iraq war –

Iran was the category of 25 dinars equivalent to $ 75, purchasing power parity, the time or the equivalent at present 300 thousand dinars.

We have added inflation in the country over three decades zeros to the currency, and although it did not raise those zeros of the purchasing

power of the largest class of the currency, is 25 thousand dinars, which is equal to $ 21 a day. We need today to restructure the currency.

Valasfar large means large block of cash in circulation today approximately $ 30 trillion dinars, which requested the circulation of cash

directly to the cost of large-counting and what it takes from the time and spatial properties and security. In the price system, is price is the

value, expressed in cash, and then the cost structure and wage and salary payments and Akiem transactions, however, all became not

commensurate with the country’s need to cash management system, consistent with the restructuring of the real sector and price levels

reached. The country needs to monetary system easy to handle and small groups and large reflect the cost of the real structure.

(See details later in the margin of the page).

And notes that during the period 1990 – 2007 increased inflation index of consumer prices to 400,000%, and with a view to simplification,

the item was sold for one hundred dinars before the start of the war in Kuwait in 1990 became sold for 400,000 dinars in the year 2007.

Note that the value of the Iraqi dinar twice and fell sharply during the period 1990-1998 at a rate more than 99% against the U.S. dollar.

The first drop was in 1990, and drop the other was in 1997, and increased by 93.2%, making grossing decline in Iraqi dinar exchange rate

against the dollar by (minus 99.99%) at the end of the year 1998, and that during this period alone Inflation in the record CPI 45000%.

Taking what we learned that inflation means himself prices cash money price on goods and services (ie, how much money we need to

swap package of goods and services .. Whenever increase the amount of money allocated to the swap on the package itself means that

there inflation or a rise in the price of money). Noting that the value of money is inversely proportional to the price of money, and that price

is the value of goods and services expressed in cash *.

(*) Social studies indicate that the average Iraqi doctor’s monthly income was not worth the purchasing power in the nineties of the last

century but to buy 30 eggs and 20 piece chicken baked in that month, and over the years the economic blockade. Also, a lot of workers

in different institutions may quit work because monthly return does not cover transportation costs to the workplace. And do not forget how

they are created distorted markets in the country bartered materials used furniture and durable goods and clothing to buy flour or sugar

and fill the minimum needs of families for food. And the agricultural sector itself as a sector food producer has deteriorated mess, since the

seventies of the last century because of the deterioration of the countryside and a Bria oil immersion in public office and the militarization

of the country, during the period 1972-1982, for example, the average annual growth in the agricultural sector (minus 1.1%). While the rate

of growth in the sector between the years 1962-1972 has reached 7.1% annually. With the show that all commodity sectors witnessed a

deterioration in the growth over the years nineties especially the agriculture and industry sectors.

Today, average per capita income rose Iraqi annual gross domestic product to more than $ 5,300, after he was no more than $ 750 before

the year 2003. And the average government employee income is nearly double the average per capita income of GDP and an estimated

$ 10,000 annually.

Since the money is anything agreed upon the community to become a medium of exchange and a store of value and unit account, the

money (legal) issued by the monetary authority under the law and with the power of discharge of the receivables, seen as a social

institution Social Institution, where increasing the efficiency of the economy and its operations to move the exchange efficiently those

social institution any money, and vice versa. Continuous inflation have led to higher currency of 23 billion dinars in 1991 to approximately

(30) trillion dinars at the present time, and the largest category currency rise from 25 dinars to 25,000 dinars over time. Thus, drawing

inflation figures of new currency traded add three zeros which increased the amount of cash operations in nominal and arranged the

production costs in large quantities, accompanied operations, storage, and distribution of promised, sort and check to accompany her,

and levels doubled, helped the growing operational risks associated with Operational Risk.

Under price stability and optimism in Iraq Development, it became necessary to hold radical reform on the system of currency management,

and that re-structure commensurate with the price structure new different and stable levels of wages and salaries, which differed

significantly from the last thirty years, as well as dealing block large cash weak components so are the largest category currency is worth

only U.S. $ 21 at present. Noting that the rise in gross domestic product of Iraq from $ 140 billion at year-end 2011 to more than $ 230 billion

at the end of 2015, will raise the money supply exported from 37 trillion dinars to about 70 trillion dinars. And weak structure in the currency

structure as mentioned above may take adds cost called the cost of cash transactions in terms of trading, whether between individuals

themselves, individuals and banks within the banking system itself.

** Unto demand for the U.S. dollar (especially the category of $ 100) is an urgent need to settle the cash transactions in the domestic

market beyond the control of monetary policy to the fact that market is looking at transactions into categories largest currently unavailable

but embodied category U.S. currency large for easy carry and circulation to reduce the cost of Trading cash or cash transactions.

So the Iraqi monetary system has become an urgent need to reform the administrative system of cash payments to be there GROUPS high

purchasing power of cash in circulation, easy pregnancy and acquisitions, in order to facilitate exchanges cash for transactions or trading

purposes. Noting that the imbalance in the structure or installation of the current monetary units has depth of problems (the state) which

arranged undesirable effects on the effectiveness and performance of monetary policy.

In Sweden, for example, having now one of the best systems of cash payments in the world, however, the cost of cash trading of counting,

transport and storage of the coin, costing the national economy accounted for 4% of the GDP of Sweden. How we compare this in a

country like Iraq shall be managed so amounts cash tremendous weak structure, which adds cost cash transactions perhaps up to 8%

or more of GDP, a burden borne by the individual in his dealings which took reduces the efficiency of cash as a social institution support

to institutions economy including different market, as evidenced by the limited large cash transactions to pay in U.S. dollars, which means

bringing other country in the currency trading to prop up cash transactions because of falling efficiency and installation of the current

monetary bloc.

And raises the multiplicity of zeros on the denominations with declining purchasing power has enormous difficulties, including the

difficulty of expression for the monetary value, as well as difficulties monetary operations itself and technical problems in the recording of

statistical data and registration in the accounting books and changing computer systems and systems adjustments, as well as show

prices figures long difficult sometimes even counters or digital devices read Asfarha in gas stations or other digital devices.

On this basis, there is a need to reform the system of cash payments through the following advantages:

First – on the horizontal plane: deleting three zeros.

- Convert 37 trillion dinars to 37 billion dollars by deleting three zeros from the current currency and replace new currency which facilitates

handling arithmetic with numbers are less numerous in terms of accounts of the federal budget, the budgets of banks and companies, as

well as balancing family cash (individuals) without arranging any change or alter the monetary income or wealth for natural persons and

moral, as well as the lack of impact on the contracts and obligations between natural persons and legal entities all. On this occasion, like

David Hume (a pioneer of the science of economics preschool classic in his famous political debate or political debate Political Discourse,

published in 1752) the impact of price levels par with a high amount of money, such as the transition from figures Romanian to Arabic

numerals (which figures English now), this move does not change the basic principles of arithmetic or mathematics. High amounts of

money leads to higher prices for the same without the impact on the results of the real economy.

Secondly – the vertical plane: restructuring and currency composition

- Whereas the large category of $ 25,000 dinars are alone (two-thirds of the volume of securities traded) the issuance of larger groups mean

reduction of four billion banknotes currently in circulation and converted into an equal number (01.18) billion banknotes. As Stakhtzel large

groups of currency nearly 80% – 90% of the total issued new categories to trading (such as 50, 100,200 new dinars).

Based on the above, the cost of cash transactions between individuals and banks and between individuals themselves natural or moral,

inevitably fall in terms of the costs of counting and checking. Given the fact, that the banknotes traded eroded the average over a period

of five years, which means replacing enormous mass weak structure and consequent costs typographical specifications high security is

another burden borne by the issuing authority cash is a relic management system cash, generated economic downturn former became

not fit and stability and the desired economic progress. In conclusion, the reasons for changing the current currency express the fruit of

economic stability and the success of the policies of the Central Bank of Iraq to maintain stability, and of the stability of the exchange rate

of the Iraqi dinar and falling inflation Arranged to one decimal place and build foreign reserves support the Iraqi dinar unprecedented levels

achieved during the past thirty years, which is the cover of the Iraqi currency. Add to improve the system of cash payments and make it

leave adhesion and installed in the past and actual economic and reconstruction on the future of economic development and real and

nominal givens. So, has prepared the Iraqi Central Bank’s strategy long-term viable future when there is appropriate opportunity and

gradually, according to the clear instructions and regulations guiding, providing protection of the rights and interests, including fits and

stage boom coming and expected economic growth, as will increase the average per capita income in the

coming years to more than once, and will step steps towards economic progress, which requires a reform of the waste stages of inflation

and may require some legislation in this regard.

deputy central bank governor

http://bit.ly/S43Kyk

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Zeros “Cannot be Removed from Iraqi Currency During 2013″

Posted on 06 September 2012Zeros “Cannot be Removed from Iraqi Currency During 2013″By John Lee.

Iraq’s deputy Minister of Finance has said the three zeros cannot be removed from Iraqi dinars during 2013 because no preparations

have been made.

According to the report from AKnews, the Iraqi Central Bank and people have been saying for four years that the zeros in the Iraqi

currency will be erased and the money will be changed. But the money cannot be changed because prior work for the process has not

been executed.

The Minister of State reportedly said:

Reducing the zeros is the Central Bank’s authority. As the Finance Ministry we are against the change and removal of the zeros, but

the bank insists on removing the zeros.

“We cannot change the Iraqi money in 2013 because the Iraqi budget was estimated with current money.

“If the Central Bank has any intention to change the money then it must do the process soon before calculating 2014′s budget.

Delete the zeros and the fate of the currency in the hands of the experts at the table

http://translate.google.com/translate?sl=auto&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fwww.alaalem.com%2Findex.php%3Faa%3Dnews%26id22%3D48665t3

09/2012 12:00 am  ***A note, everything in RED is my own interpretation of the article and its possible meanings****

opened the round table organized by the Center for Strategic Studies in the morning newspaper in collaboration with the Economic Section Multi file deletion of zeros, which is the richest insights and analyzes the value and put points on the letters in decoding choking on a lack of understanding subject.

In the morning newspaper it reported that an open round table discussion by the Center for Strategic Studies in collaboration with the Economic Sections 'multiple files' on the deletion of the zeros had analyzed and decoded and brought to light the insights on the lack of understanding of this project.

and reach a group of experts who participated in this table to the fact that such an important decision and dangerous at the core of the economic problem needs to law and legislation to ensure not falling mistakes incurred country moral and material losses large in Iraq indispensable.

The reach of this group who participated in this discussion felt that law and legislation needed to be enacted because of the importance of this decision and to ensure that no

mistakes or loss of material were incurred and the countries moral standing would remain intact.

For the first time in the most if not all seminars previous economic converge policies have monetary and fiscal table (morning) this sporting spirit of understanding in order to solve the problem and thus contributing to the distance from the potential risks that may accompany the process of change or raise zeros.

For the first time, and for the most part, out of all of the previous seminars on economic policies, a sporting spirit on the overview of money and commitments were present and being clarified by the participants. Which now is contributing to the opinion that they can distance the potential risks from the process of raising the three zeros.

was submitted magnificent deputy central bank governor the appearance of Dr. Mohammed Saleh historical overview of money and commitments as a prelude to clarify participants had enriched everyone of the importance of lifting of the zeroes and convincingly and striking contrast representative of the Ministry of Finance d.

A magnificent study was submitted by the deputy of the central bank with the appearance of Dr. Mohammed Saleh on the historical overview of their commitments as a prelude to the clarity that had been presented by the participants that had enriched everyone by convincing them of the importance of lifting the three zeros, while at the same time it was a strikingly contrasting view that went against the Ministry of Finances opinions.

Hilal Taan vision on the action and despite the emergence of intersection in the two views in the apparent but in sub converge policies have cash financial and in one pot, but a careful to keep the national economy from additional shocks. Taan focused on the obstruction, the only way to delete the zeros is the psychological aspect of a group of Iraqi businessmen

who have devoted culture of the state and rely on the dollar, while noting the experiences of other countries reservations تجارهم to rely on is their currency and a way to force their

economic activity.

Despite the contrasting views of both parties, the emergence of the two views caused an apparent sub-convergence on policies about having a large pot of cash on one hand,

while being careful to keep the national economy from being shocked on the other. They focused on the obstructions and the psychological aspect of a group of Iraqi businessmen

who's devotion culturally has been to rely on the dollar. While paying attention to other countries apprehensions to rely on their currency, this would be a way to force their compliance through economic activities.

This analysis led to the development of ideas converged on the timing of the deletion of zeros and receded in the availability of envelopes firstly cover legislative saves currency

from acting qualitative and secondly create a culture of attention in the national currency and this is governed by a matter of time blaming devices media responsibility to adopt this role.

This analysis led to the debate of ideas on how to merge the timing of the deletion of the zeros which would open windows of opportunity firstly, covering the legislative acts to save the currency and secondly, creating a culture to bring attention to the national currency by governing the media with an appropriate role on the adoption of the timing.

Many of the participants all agreed on the need to provide a suitable environment for such a move is important, acknowledging its importance due to the fact that the currency represents infrastructure sober for the country’s economy, and on the grounds that the country’s economic strength stems from the power of her money.

Many of the participants agreed that a suitable environment was important for such a move given the importance of the relationship of the currency to the country's infrastructure and economy. And the fact that the strength of the country stems from the power of her money.

need to reform the system of payments deputy central bank governor the appearance of Dr. Mohammed Saleh pointed out that under the price stability and optimism in Iraq

Development, it became necessary radical reform on the system management of currency as well as the re-structure commensurate with the price structure new and different,

stable and levels of wages and salaries, which differed significantly from the last thirty years, as well as handle the mass of large cash weak components so that it has become

the largest category currency Atsawi only $ 21 U.S. at the present time.

Dr. Mohanmmed Saleh of the CBI pointed out that to reform the system of payments, that with price stability, optimism in Iraq would develop. He added it is necessary for radical

reform in the system of currency and also re-structuring would be commensurate with the new price structure and different levels of wages and salaries which have differed significantly in the last thirty years, as well as handling the vast weakness in the mass cash components because of the largest category of currency only being worth about $21 USD at this time.

noting that the increase in gross domestic product of Iraq from $ 140 billion at year-end 2010 to more than $ 300 billion at the end of 2015, will raise the money supply exporting of 30 trillion dinars to about 70 trillion dinars. And weak structure in the currency structure as mentioned above may take adds cost called the cost of cash transactions in terms of trading, whether between individuals themselves, individuals and banks within the banking system itself.

Dr. Mohammed Saleh noted that since the year end of 2010 the domestic product has increased, and will continue to increase from $140 billion to more than an anticipated $300

billion by 2015. This will raise the export totals from 30 trillion dinars to about 70 trillion dinars. The weak structure of currency as mentioned above adds costs in cash transactions

during trading whether between individuals or banks within the system.

Saleh said that in Sweden, for example, having now one of the best systems of cash payments in the world and despite that, the cost of trading cash counting, transmission and storage of the coin costing the national economy accounted for 4 percent of the gross domestic product of Sweden.

Dr. Saleh by example said that Sweden has one of the best systems for cash payments in the world and despite that, their cost of trading, cash counting, transmission and storage of cash and coins is only costing the national economy about 4 percent of their GDP.

Wondering how to compare that in a country like Iraq shall be managed so huge amounts of cash weak structure, adds the cost of cash transactions may reach 8 percent or more

of GDP, a burden borne by the individual in his dealings which took reduces the efficiency of cash as an institution social support to institutions economy different, including the

market as evidenced by the decline in cash transactions because of falling efficiency and installation of the money supply current.

In comparison, Iraq has a weak structure and such huge amounts of cash that it adds to the cost of cash transactions that may reach 8 percent of GDP which causes a burden on not only the individuals trading, but also, reduces efficiencies of currency in the different social institutions in our economy. This has already been witnessed by the decline in market transactions because of the inefficiencies of the current money supply.

and pointed out that the multiplicity of zeros raises the denominations with declining purchasing power has enormous difficulties, including the difficulty of expression for the cash

value as well as the same difficulties of monetary operations and technical problems in the recording of statistical data in the accounting books and changing accounting systems and settlement systems, as well as prices figures show long difficult counters or digital devices read Asfarha in gas stations or other digital devices.

He also pointed out how the addition of the three zeros has raised the amount of the money supply at the same time coupling it with declining purchasing power which has led to enormous difficulties. This includes the sometimes inability to express its monetary value and also added operational difficulties in recording the statistical data in the accounting databases used in settlement systems. This has been also very burdensome for the retailers like gas stations and those who need to use digital devices to display the long

counters while showing the costs of purchases.

and continued on this basis has become a need to reform the system of cash payments through several advantages, the first on the horizontal plane and is deleting three zeros any transfer 30 trillion dinars to 30 billion Dolaran by deleting three zeros from the current currency and replace it with a new currency making it easier to handle arithmetic with numbers are less numerous in terms of accounts the federal budget, the budgets of banks and companies as well as balancing family cash (individuals) without incurring any change or switch on the wealth of cash for natural persons and moral as well as non-depressing contracts and obligations between natural persons and all concerned. , which called generating function sports political debate or political debate of the world (1752) Effect of nominal price levels with a high amount of money, such as the transition from Roman numerals to Arabic numbers (the numbers in English now), that the transition to ايغير of the basic principles of science and math. High amounts of money leads to higher prices for the same without the impact’s real economy results.

Continuing on this foundation, there is a need to reform the systems of cash payments which will have several advantages. First, is the reduction of the cash supply by deleting the three zeros which will reduce the transfer of 30 trillion to 30 billion dinars. Then, with the replacement of currency with the new currency the arithmetic simplifies the accounts in the federal budget, the banks budgets, the companies and the individual families without incurring any change of wealth during the switch. This should allow a smooth transition that show non-depressing contracts and contracts between people are of no concern which originally generated sporting debate and political debate around the world along with things such

as price levels with a higher valued currency and like in the past a transition causing numeric change ie: from Roman numerals to Arabic numerals, where instead, the currency is

now in English numerals which do not affect the transition in the basic principles of math or science, where higher amounts of currency leads to higher prices and has no real impact on the economy.

The level vertical any restructuring of the currency and fitted it to the category large amount of 25,000 dinars are alone (two thirds of the amount of securities traded), the issuance

of larger groups mean reductase four billion banknotes in circulation now and converted to a number equal to (1.180) billion paper cash. As Stakhtzel large groups of currency nearly 80 percent -90 percent of the total new categories exported to trading (such as 50, 100, 200 new dinars).

The level restructuring of the currency will reduce the largest dinar of 25,000 which is used in current transactions in excess of 66% of cash and security dealings to four billion bank notes less being in circulation which is converted to 1,180 in cash. After completion, large groups of currency will be 80 to 90% with the new categories of 50,100 and 200 dinars.

Said based on the foregoing, the cost of cash transactions between individuals and banks and between individuals themselves or natural moral fall inevitably in terms of the costs of counting and checking.

Based on the aforementioned statements, the costs of cash transactions between individuals and between banks will fall drastically in terms of the costs associated with counting and checking.

If Maalmana, that banknotes traded eroded the average over a period of five years, which means replacing enormous mass weak structure and consequent costs typographical specifications high security is another burden borne by the issuing authority cash is a relic Management System cash generated economic downturn former became not fit, stability and economic progress desired.

Over a period of the next five years, eroded bank notes having to be replaced causes an enormous weakness in structure and consequent costs associated with printing and the security specifications needed which are a burden to the issuing authority and cash management system. This will generate an economic downturn that doesn't fit with the economic progress desired.

said that money is anything agreed upon the community to become a medium of exchange and a store of value and unit account, the money (legal) issued by the monetary authority under the law and with the power of discharge of accounts receivable, seen as a social institution, where increasing the efficiency of the economy and its operations in moving efficiently exchange those social institution money, and vice versa.

With the money mentioned and agreed upon by the community as a medium of exchange and it's unit set value, it is legal tender from the issuing authority under the law that carries the power to discharge the debt of accounts receivable seen in social institutions, and thus increases the efficiency of the economy and it's operations in the exchange of these same institutions money and vice versa.

explaining that continuous inflation led to rising currency of 23 billion dinars in 1991 to about (30) trillion dinars over time. In this drawing new inflation figures for the currency traded add three zeros which increased the nominal amount of cash operations and consequent costs of producing large amounts of Maraafqatha, storage, and distribution operations, sorting and checking accompany her and doubling levels, the growing operational risks associated.

Saleh explained that because of continuous inflation starting in 1991, it led from a rise in currency of 23 billion dinars to about 30 trillion dinars over time. During this era, new inflation figures added three zeros to the currency which in turn increased the nominal amount of cash being circulated in cash transactions with consequent costs of producing larger

amounts of cash, storage and distribution fees doubling the levels of cash in circulation with growing operational costs.

And concluded by saying that the reasons for changing the currency current reflects the fruit of economic stability and the success of policies CBI in maintaining stability and of the stability of the dinar and falling inflation to the rank of one decimal and build foreign reserves support of the Iraqi dinar levels never achieved during the thirty years, which is the cover

of the Iraqi currency.

He concluded by saying that the reasons for changing the currency reflects the fruit of our economic stability and the CBI's success through policies implemented to stabilize the

dinar and reduce inflation to one decimal, while at the same time increasing our foreign reserves in the Iraqi Dinar to levels never achieved before during the last thirty years in the

history of the Iraqi dinar.

In addition to improving the system of cash payments and make it leave actual adhesion combination for the past economic اختلالاته and rebuilt on the future of economic development and real and nominal givens. Action needs to review minutes either an economic expert Dr Akram Abdel Aziz began her several questions came in the forefront of any mechanisms that depend upon the implementation of this approach and implement the replacement process and ensures that there is no manipulation during the switching process in the sense of protecting this step of fraud ? And added that the economic situation need to follow all his joints which are needed to promote it, as the money spent on switching process must achieve the goal.

In addition to improving the system of cash payments, it will bring it out of the current mode of the past and usher it into the future realm of economic development with real and nominal gains. Actions reviewing the minutes of both economic experts Dr. Akram and Abdel Aziz revealed several concerns about the mechanisms during implementation of the replacement process. These included having no manipulation of currency during the switching process to protect from fraud. Adding that the process needs to follow all steps needed to promote

it and achieve the goal of projected costs for the switching of the currency.

Continued its questions you were to stop at concerns and that this process may increase smuggling money abroad, especially that the process of deletion of zeros procedural

difficult and complex and require statistics and accurate figures and must stand at the effects on the stock market.

Continuing questions didn't stop at the concerns that this project might increase the smuggling of money abroad given the process of deleting the three zeros is difficult and complex and requires accurate statistics and figures on the effects of the stock market.

They pointed out that this issue if has not been studied extensively and the quality of community, the process of subtraction will of the Iraqi market to imbalance and jerks just because the citizen can imagine that the deletion of zeros will affect the real value of the currency, stressing that the strategy proposed must correlate between the money market and the labor market, as she wondered whether that outlook be comprehensive nature of inflation in terms of it’s not the high cost of production and a series elevations price of interest joints much-needed citizen. said that direct this trend needs to be a thorough review of the reality of the Iraqi economy and its institutions of public and private and the extent and effectiveness trends credit support for the work of the private sector.

They pointed out that this issue has not been studied exclusively and the majority of the community wonders if the project of the deletion of the zeros will affect the value of their currency and how it needs to correlate with both the money market and the labor market along with the nature of inflation in terms of the high production costs and the possible price elevations for the citizen. They said that this process needs a thorough review to bring to reality the extent of it's effectiveness, and the effect on the credit trends in both the public and private institutions and it needs to support it's outcome.

It showed that the basis of the success of any reform process and administrative needs radical treatment and serious fiscal imbalances, monetary and administrative constitute an obstacle to development cash development in Iraq.

It showed that because of monetary and fiscal imbalances, any obstacles in the process would call for radical treatment in the administration of the project for it's success in the cash development in Iraq.

deficit financing most prominent reasons for the low value of the currency and despite the fact that the process of deletion of zeros from the currency traces can be negative on counterfeiting operations that will accompany it, but the economic expert, Dr. Hilal Taan said during his speech at the symposium opposite when he pointed to the possibility of

several gains from behind changing the currency, is to provide a strong cash flow and global Iraq, which is needed to large groups of cash in value and small in size perform functions of money, as well as the deletion of zeros will play a positive role in business dealings, according to Taan who said that other positive which will be produced by changing the currency is escorted to the stage of economic growth and prosperity growing for Iraq, therefore, change the currency is essential This is in line with this optimism in the national economy.

Deficit financing has been the prominent reasons for the low value of the currency and despite the fact that the process of deleting the three zeros will have negative effects on the counterfeiting operations that will accompany it, economic expert Dr. Hilal Taan implied during his speech at the symposium that there are several gains behind the changing of the currency and that it would provide a strong cash flow and a global Iraq, which is needed to reduce the large groups of cash to smaller sizes to enhance the performance as well as

playing a positive role in business dealings. Taan also said that other positives associated with the changing of the currency would be economic growth and prosperity for Iraq, and therefore changing the currency is essential. This attitude of optimism is in line with the national economy.

reviewed Taan some detail the chronology of the Iraqi dinar and witnessed volatility of price, explaining that in 1980 amounted to release cash in Iraq four billion dinars, and was then the highest denomination is 25 dinars, equivalent to then $ 75, and reached the bloc in 1992 about 25 billion dinars, and increased in 2003 to reach six trillion dinars, and rose this block to reach now 35 trillion dinars.

Taan reviewed some details of the chronology of the Iraqi dinar that was witnessed in it's price volatility explaining that in 1980 the amount of cash released was four billion dinars and the highest denomination at that time was the 25 dinar equal to $75 USD and reached the level of about 25 billion dinars in 1992. By 2003 it had reached six trillion dinars and even rose to reach 35 trillion dinars now.

Despite increasing the money supply in this way large compared with the year 1980, which was equal to the highest category of cash which is 25 dinars about $ 75, the Taan For comparison pointed out that the highest category of cash now stands at 25 thousand dinars is it not worth only $ 22. explaining that this shows the size of the collapse happening in the Iraqi currency The wrought by a series of factors do not stand Pferdha deficit financing process in the forefront of those factors but also contributed to other causes in a collapse of the structural changes that have occurred on the size of the budget after 2003, which led to the increase of cash, and this increase resulted in the higher costs Additional transactions, so in the case of deletion of zeros, these costs will decrease inevitably.

Despite the increase in the money supply that occurred from 1980 to 2003, the highest category of a 25 dinar at a value of $75 dollars dropped to a 25,000 dinar valued at just

$22 USD, explaining that this shows the size of the collapse of the Iraqi currency. The bulk being from the process of deficit financing along with the increase in the size of the budget by

2003 which led to the increase in cash resulting in higher transaction costs which the deletion of the three zeros will decrease inevitably.

Taan hinted that Iraq since the eighties resorted to the use of deficit financing policy, and that policy in developed countries achieved positive effects unlike in developing countries, where the States have developed a device productive flexible able to face demand and therefore increase investment, savings and get the economy moving, either in developing countries When Released new cash gets to meet a large amount of money goods are few and services is low, and a productive is flexible and a rise in prices and the flight of capital, stressing that all these negative factors took place in Iraq, and increased rates of inflation, and these negatives according Taan can not be solved without deleting three zeros from the currency.

Taan hinted that deficit financing resorted to in the eighties didn't achieve positive results like those of developing countries that developed by using their increased savings and

investments to get their countries moving. When developing countries released cash to meet the high demands of goods, it didn't have the same affect like in Iraq where a large amount

of money was needed even when goods were few and services low and there was no flexibility in production, but instead a rise in prices because of the plight of capital. Taan

stressed that all these factors took place in Iraq and it increased inflation and that these negatives according to Taan can not be solved without deleting the three zeros from the currency.

Turning Taan to the importance of the availability of a number of things he said was necessary to initiate the process of deletion of zeros, pointing out that there are factors to

concrete and other significant impact material, and also said: that to change the currency prerequisites should be available before this, the first of the reserve strategic direct,

any balance of gold and foreign currency, and I see that the dinar Iraqi covered with good foreign currency is according to the Central Bank of 67 billion dollars.

Turning to the importance of the availability of a number of things Taan said it was necessary to initiate the process of the deletion of the three zeros, pointing out the concrete and significant impact on things, and he also said the prerequisites were not available before this, the first being the strategic reserves of 67 billion dollars according to the CBI and the

balance of gold and foreign currency that I see the Iraqi dinar is backed by.

believes Taan he Furthermore, the second factor that must be made ​​available to initiate the process of deletion is in the size of the reserve strategic indirect, and intended to natural resources, and this is positive now, especially since Iraq has become the second country after Saudi Arabia in the volume of production and exports of oil to OPEC members, explaining that the third thing is the factor psychological, any behaviors and activities to some wholesalers, who became not like to deal in Iraqi dinars, and preferred the dollar, despite the fact that The currency is a commodity, the greater the demand for that commodity value rises, and vice versa.

Furthermore, Taan believes that besides the size of the strategic reserves, the assessments of the natural resources are positive now and since Iraq has become the second biggest exporter and producer of oil behind Saudi Arabia of OPEC members. This has made the initiation of the process to delete the three zeros possible. He explained that a third factor is the psychological affect on the behavior and activities of wholesalers who didn't like to use the dinar and preferred the dollar, so the with the dinar becoming a desired commodity, as the demand for that commodity rises, so will the value and vice versa.

has provided a number of experts and researchers interventions task enriched table ideas and solutions, including the Executive Director of the Association of private banks in Iraq Abdul Aziz Hassoun, and banking expert Abdul Hussein Mundhiri, and economic researcher Thamir Alheimus and economic analyst, Dr. Hussein Allawi, and a number of other businessmen, including investor Hadi Hndas, and investor Ibrahim Jaber Hussein, and Ibrahim Mohamed Ali investor.

The CBI has has provided a number of experts and researchers intervening in the task of adding to the tableled ideas and solutions, including the Executive Director of the Association of private banks in Iraq Abdul Aziz Hassoun, and banking expert Abdul Hussein Mundhiri, and economic researcher Thamir Alheimus and economic analyst, Dr. Hussein Allawi, and a number of other businessmen, including investor Hadi Hndas, and investor Ibrahim Jaber Hussein, and Ibrahim Mohamed Ali investor.

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Parliament members object to timing on the delete the zeros project; CBI will meet with committee in coming

days to clarify stages

On: Wednesday 8/8/2012 6:27

said a member of the Committee of Economy and Investment Attorney Nora Albjara, that the House of Representatives received a formal letter from the Central Bank containing

details of the project to delete the three zeroes from the currency and calls for its application early next year, saying there is no objection large by the House of Representatives on the implementation of the project that the country has initializer is still to replace the national currency.

The Albjara in a press statement that the Central Bank of Iraq sent a letter to the Committees of Finance and economic development in the House of Representatives expressed its readiness to implement the project to delete the zeros of the three currency over the next year and contains a detailed explanation of the project and the stages of implementation for the purpose of discussion in the House of Representatives and the time limit for its application.

She added: Most members of the House of Representatives rejected the application of the project in the next year being a big project and needs to be enough time for discussion and study, as well as they see that Iraq is still not ready to prepare fully for the implementation of this project and fear that casts a negative impact on the national economy and the local currency.

It continued: that the parliamentary Economic Committee will hold a meeting in the coming days to discuss the project and which may be called the Governor of the Central Bank and hosted by the House of Representatives to clarify the application of paragraphs of the stages of the project and the possibility of readiness.

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Financial representative to discuss with the Governor of the CBI the latest developments reached by the

subject to delete the zeros

Posted: July 24, 2012

By: Bian2
Date: Monday 07/23/2012 15:12

Baghdad / WAP / A delegation from the Parliamentary Finance Committee, with the Governor of the Central Bank of developments that have reached the central bank in the subject to delete the zeros and replacing the national currency and the policy of the completion of this process. “

A statement from the House of Representatives received the news agency reported Baghdad International / WAP / copy of it on Monday: “The Sub-Committee which includes

members of the Finance Committee (MP Abdul-Hussein al-Yasiri and MP Ibrahim al-Mutlaq, MP Magda al-Tamimi) met with Central Bank Governor Sinan Shabibi During the

meeting, they discussed the latest developments reached by the Central Bank in the subject to delete the zeros and replacing the national currency and the policy of the

completion of this process. “

He added: “It has been also discuss the issue of controls adopted in the auction currency and the volume of the money supply.”

For his part, said Shabibi “The main reason for the process to delete the zeros due to the economic stability experienced by the country and large cash capacity in the Central Bank.”

And on the currency auction Shabibi said: “The operation as a window to enter the foreign currency and raise the value of Iraqi dinar.”

He stressed: “The central bank chose a British company and the other a German among the many international companies to complete the process of printing the new currency

being the Ttavan about 75% of the currencies in the world.”

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Member of the Economic Committee: deleting zeroes from the currency will address inflation and facilitate trade exchange

Posted: July 7, 2012

Date: Saturday, 07-07-2012 02: 19 pm

Baghdad (News) … Member of the Economic Commission of the National Alliance Deputy//Amer Hussein Al-Fayez, the decisions of the Committee of finance and the Central

Bank in the process of deleting zeros from the currency will address existing economic inflation and facilitates trade.

He said Al-Fayez (News Agency news) on Saturday: the deletion of zeros will help citizens to ease trading and exchange currency and ease of download categories a few cash in purchasing goods and goods.

He added: the operation would raise the moral value of the Iraqi currency and does not leave any damage or danger to the Iraqi economy.

And: the Iraqi currency will be pumped to zeros deleted market and will work with the old currency TIL (SIC) to the old currency is withdrawn permanently from citizens.

Explained: that the deletion of zeros from the currency will not affect the economy of Iraq as most recently in the street.

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After thorough study and detail; Finance Committee confirms deletion of zeros from the Iraqi currency will be early next year

Posted: July 3, 2012     

7.3.2012

Finance Committee: will be deleted zeros from the Iraqi currency early next year
Confirmed that the parliamentary finance committee that it will delete the zeros of the Iraqi currency early next year, noting that the project has been studied thoroughly and in detail of the central bank.

A member of the Committee Najiba Najib’s newspaper “integrity of electronic” Today, the committee concluded that the central government and the legislature must be sober supportive of the project and that the preparations of the CBI continues and that the beginning of next year Sabda work delete the zeros and there are preparations and wide to provide the budget in 2013 to Finance Committee in the Parliament the new currency.

She noted that the deletion of zeros will be for two years and that the government banks will be a place to change and take the old currency and replace currency El Jadida and will have several advantages which will be a coin a large Iraqi equivalent of $ 180 As for the new currency with a category about 50 dinars and 100 dinars and 200 dinars and 250 dinars, and in addition to the new currency will be issued in accordance with the Constitution of the Arab-Kurdish language in English and there will be symbols reflect the civilization of Mesopotamia from Zakho to Basra, Iraqis are proud of them.

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CBI: We will not receive the old currency after you delete the zeros of the citizens only by banks

Posted: June 23, 2012 

Said the CBI to hand over money when you switch the currency will be exclusively from banks to prevent the entry of counterfeit currency.

The deputy governor of the Central Bank of the appearance of Mohammed Saleh: “The project currency exchange will continue for ten years, but indirectly, to enable the citizens to take an adequate opportunity for anyone who is in the special circumstance of them,” he said, adding that refrain from receipt of the money directly from the citizens is one effective means to prevent entry of counterfeit currency to the bank.

He continued: “There is a question about the possibility of the Central Bank and institutions Chirfah over control of the entry of counterfeit currency during the process of switching the currency after you delete the zeros of which, the answer is that the central bank adopted the technology to check the money in addition to other measures / not mentioned / “.

Saleh explained that: “Under Article 37 of the Law on Central Bank of Iraq No. 56 of 2004, the bank-oriented and experienced in the field of work, which is producing a public good called money and maintain stability in the market in addition to monitoring and supervision. “

Alternate translation:

CBI: old currency will receive after deleting zeros from citizens only through banks

The CBI said that money when you switch the currency would be banks exclusively to prevent counterfeit money.

Deputy Central Bank Governor Mohammad Saleh appearance: “the draft switch currency will continue over 10 years but indirectly, so that citizens take the ample opportunity for anyone who is in a special circumstance of them,” he said, adding that funds received directly from citizens is one of the effective means to prevent the entry of counterfeit currency to the Bank.

“There is a question about the possibility of the ECB and the institutions quite on control of the entry of counterfeit currency during the changeover after the deletion of zeros, and the answer is that the Central Bank adopted technology to check money in addition to other actions, reminding//no”.

Saleh said that “under article 37 of the law on the Central Bank of Iraq no. 56 of 2004, the Bank prepared and experienced in his work is the production of a public good called money and maintain stability in the market as well as MCS.

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CBI: Delete the zeros represents a new infrastructure of the country

Posted: June 23, 2012

06/23/2012 0:00

described the Central Bank of Iraq project to delete the zeros from the currency as: “a new infrastructure of the country at least as important

as other infrastructure.” said Deputy Bank Mhaaft the appearance of Mohammed Saleh: “The speed of the project Anjazhma reflect the

harmony and the ministries and government departments concerned work away from the institutional isolation, since there is no value for the independence of the central bank if they were not independent of these high-capacity to coordinate with other economic institutions to build Iraq. “

He added: “The project to delete two zeros from the currency project successful and to delete three zeros from the currency project is very successful, as there are countries that omitted 6 zeros from its currency because of inflation and economic heritage which has been suffering from it and the experiment succeeded, “noting:” The process of deletion of zeros experiment did not pass out of Iraq, we find that some of

them in fear while the dimensions of the project has more positive than negative. “

He continued: “The full and comprehensive study of the project was completed last fall, has been filed to the Economic Committee in the Council of Ministers, scheduled for 1/1/2013 It is the time to directly delete the zeros. ” And

said: “This project represents the process of reforming the system of monetary management and the transition from large numbers to smaller numbers with the same value of the

currency without affecting the trading currency, because the switch would be suitable for people getting used to the new currency trading.”

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CBI wants zeros dropped in conjunction with 2013 budget; Calls to accelerate study and form committees

Posted: June 22, 2012 

CBI: we will hold the banks that we have the counterfeit currency when you switch the new currency

BAGHDAD -The Central Bank of Iraq that it will hold any bank found in his possession counterfeit currency during the process of switching the currency when you delete the zeros of the three of them.

The deputy governor of Bank of the appearance of Mohammed Saleh told a news briefing that the central bank has drawn up plans described by the

Court to prevent the emergence of counterfeit currency during the process of switching the currency, calling at the same time to accelerate the formation of committees of governmental, parliamentary and trade union to study the draft to delete the zeros, which is hoped to proceed by early next year in conjunction With the release of the budget in 2013 for the implementation of the urgent need for this national project.

He explained that the costs of printing the new currency would be borne by the central bank alone, without request from the government allocation of funds for printing.

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Member of the Finance Committee: Applying delete zeros project depends on political and economic stability in the country

Posted: June 22, 2012 

Date: Friday, 22-06-2012 01: 48 pm

Baghdad (News) … She is a member of the Finance Committee Coalition Deputy from//the Kurdish blocs, Najib Risalat project restructuring of the Iraqi currency after deleting three

zeros were subject to political and economic stability in the country.

Najib said (to news agency news) on Friday that the Central Bank has completed all procedures relating to the three zeros deleted project local currency and wait for the signal from the Executive and legislative branches to initiate its implementation.

She explained: the project has been delayed by Government indefinitely as a result of the political crisis in Iraq in addition to the instability of the exchange rate of the Iraqi dinar against the US dollar, saying that the project is subject to political and economic stability in the country.

Noted: increased dollar greatly to dinar during the last period to make the Central Bank and the legislative and executive powers are given to the project because it dramatically matter all citizens need an integrated economic feasibility before applying it.

The Central Bank of Iraq was announced (September 29, 2011) to 2013 will see the deletion of zeros and the currency changeover, which warned officials and economists because of the Division of work preparing to falsify trillion Iraqi dinars to replace them in the light of the forthcoming changes.

The Student Council of the Prime Central Bank to wait to delete the three zeros from the local currency, confirmed that a large project and needs sufficient time to apply it

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Finance Committee: raise zeros from the currency early next year; The theme will draw inside the ziggurat

Posted: June 15, 2012 

On: Friday 6/15/2012 8:23

Baghdad (news) .. Explained a member of the Finance Committee MP / National Alliance / Najiba Najib Ibrahim, to postpone the decision to delete the zeros of the process, due to the change form draw a logo represents the civilization of Mesopotamia (ziggurat), which was the agreement of the relevant committees in Parliament and the Central Bank (Financial and Economic Committee) and its implementation in Year (2013) as a result of escalating cash crisis.

Najib said (of the Agency news): The ziggurat of a slogan is one of the historic symbols of the Iraqi government and there is no opposition to its position in the currency after you delete

the zeros and after the stability of the currency crisis.

She added that the replacement of the Iraqi currency was an agreement between the relevant committees (Financial and Economic Committee) and the Central Bank, to replace the currency after deletion of zeros in the beginning of the year (2013) as a result of the escalation of crises, monetary and non-stability of the exchange rate of the Iraqi dinar against the

U.S. dollar, noting that the parliamentary committees and the central bank are making every effort to overcome the difficulties for the stability of the dinar exchange rate against the dollar.

She explained: that Aqrarastbdul currency after deletion of zeros if not by the central bank, but it also came as meetings and discussions extensive with the respective committees and the federal government that changing the currency must be supported by the legislative branch and the executive, stressing the difficulty of changing the currency without legislative support.

The answer to: the technical and professional matters the powers of the central bank, and will fall on the Finance Committee, legislative and legal issues.

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