News About The Three Zeros

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

  2015/5/31 12:20
Parliamentary Finance: We fear that accompanies the process of reducing the size of the money supply as the rest of the corruption of previous years
{Baghdad: Euphrates News} head of the parliamentary finance committee Magda Tamimi said on Sunday, "We fear that accompanies reduce the size of the money supply as the rest of the corruption of previous years process, claim the House of Representatives to" take all reserves and caution. "
He said al-Tamimi told {Euphrates News} today that "printing new currency was to reduce the money supply in the country size, and will be one of a class {} 50-100 and is easy to carry for the Iraqi citizen."
She noted that "change the currency will not affect the inflation, because the inflation rate in Iraq is very reasonable and not high, ranging from {2-3}", pointing out that "we finance as a committee we are afraid of corruption that accompanied this process also I am afraid to be like printed currency in the past few years where Achabha a lot of corruption, even the central bank. "
They pointed out that "the CBI said taking all reserves, but it needs to be more cautious and warned of the House of Representatives."
The Central Bank of Iraq announced earlier near launch new banknotes of five thousand dinars and {25} A class to the new security specifications trading and signs of high protection.
A statement of the Central Bank would be the continuation of the two papers Alnkaditin Almtdaolten now with two new categories without any intention of withdrawn, indicating that they are changes in banknote category {5000} dinars paper contains a string ensure clip displays {4} mm carries a {CBI}, as well to modify the dates Hijri and Gregorian dates to 1435 e {2013} and other security marks.
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The deletion of zeros from the Iraqi currency restores its monetary value - Fahd Antar Dokhi *
Posted on
May 29 مايو 2015 by space Uruk Fahd Antar Dokhi

 Was Alojdrb (Bremer) head of the Iraqi destruction authority when it canceled the Iraqi currency of the former regime the end of 2003 to find a coin which reduces the presence of zeros, the fact that the Iraqi economy, the traditional inflation stages exceeded even arrived to the brink of collapse, and this procedure is one of the means at hand to address the weakness of the value of the Iraqi dinar, according to the monetary and banking law, has to be a return to basic sources which constitutes a strong factor in restoring confidence to our national currency, it is deleted three zeros from Almtadolh currency now put metal and paper dinar parts, including (5, 10, 25, 50, 100, 250 and 500 fils) .. which will bring the following benefits.

Fahd Antar Dokhi

1. Ease of circulation and clarity and knowledge of monetary value easily even to foreigners and Hmaaaml Assistant to buy and handle them and trust the other hand, the lifting of monetary value against other currencies ..

2. Altfelicat paper perishable and damage, in contrast, the coin is not affected trade and the use and therefore can be manufactured again.

3. reduces the cost of printing Tabaha.az that JD (25) which will replace the 25 thousand dinars Alnaamhalmtdoualh currency is currently easier and quality will be high ..

4. strengthen the fabric and improved through the addition of the elements of the global currency that is not affected by natural factors such as water, and bear scrubs and tear resistance and decay.

5. reduce the cost of storage in banks, because we need to Qasat less and less effort and also the lower the number of employees by the more control and insurance prohibitively high.

6. easily transported over long distances and easily provide a high proportion of them safely.

7.. Strong cash currency contribute to strengthening the elements of the national economy.

8. provides speed and accuracy in trading in settling accounts. 9. gives the workers, giving them greater self-confidence.

10. is the risk of error in the calculation of its simplicity and clarity.

11. This will rebuild global confidence by banks and increases traded.

12. also provides cash to expand its value against the US dollar, the euro and the EU.

13. The printed specifications make them immune to fraud. There are a lot of countries that embarked on this procedure, including the Turkey even scrapped term million to replace the thousand, and can develop a mechanism to withdraw the old currency by subtracting the new currency with them and set a time ceiling to suspend trading Balkadimh record for a period of Omayorasth months, in light of that holds the government banks did not place them again in the Dealing even decay within the period specified ..

* Fahd Antar Dokhi member Iraqi Economists Association

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Categories of 50 000 and 100 000 dinars a preliminary to delete the zeros of the Iraqi currency

Baghdad-Iraq-Presse -24 May / May said the parliamentary finance committee member Masood Haider, on Sunday, that the issuance of central bank categories 50 000 100 000 dinars, and, soon, is to hold the first to remove zeros from the Iraqi currency.

Haider said in a press statement, that "the issue of currency thousand and fifty-class hundred thousand dinars, has been studied for more than two years by experts at the Central Bank chose the appropriate category and type design to protect them from fraud."

He added that "this is a preliminary step to remove zeros from the Iraqi currency in the coming years", adding that "these two categories will facilitate the deliberation process of the Iraqi dinar exchange for hard currency."

Haider said that "the project to delete the zeros still exists, the central bank has decided to issue fifty-class thousand and thousand percent, and their experience and study how to deal with them in the Iraqi market."

He said that "the allocation for the printing of the new Iraqi currency budget, will work to remove the zeros in the coming years."

The Central Bank of Iraq announced earlier its intention to issue new editions of the categories of the 50 000 dinars and 100 000 Danar.anthy (1)

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Abadi adviser: praises the policy of the Central Bank and supports the deletion of zeros at the country's stability conditions

Abadi adviser: praises the policy of the Central Bank and supports the deletion of zeros at the country's stability conditions

BAGHDAD / Baghdadi News / ... According to the appearance of Mohammed Saleh, an economic advisor to the Prime Minister Haider al-Abadi, on Monday, about a quarter of Iraq's budget disbursement to support military operations against the terrorist organization Daash.

Saleh said in an interview with / Baghdadi News / "The government's priority today is to return in safety usurped areas and to maintain the security in the relatively stable and unstable regions".

Saleh added that "cleaning and paving streets and laying all the necessary services and well-being in it, does not interest him if he will occupy the days before Aldoaash yet."

Saleh pointed out that "the Iraqi Central Bank policy characterized by accuracy and objectivity," noting that "the equation in maintaining the value of the Iraqi dinar with the revaluation of monetary reserves in light of these security conditions bad and lower oil prices, a very difficult and summit complex, though the Central managed to decipher decode them to follow the policy to sell hard currency. "

Saleh pointed out that "the central issue at the feet of a large coin natural step will not adversely affect the economic situation in the country."

He stressed Saleh, said that "the project to delete the zeros is very important and has a large on the Iraqi economy and the value of the currency benefits, I have called him since throughout the years, but the current situation, which is going through the country is not suitable for such a move, which need to be economic and security stability, and this is what is Known over the global economic history. " It ended 21 / l

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Formation of a committee to issue coins of the two categories of 50 and 100 dinars pave the way for the abolition of zeros

05-15-2015

BAGHDAD - Iraq Press - April 11: a prelude to remove zeros from the Iraqi currency, the parliamentary finance committee revealed on Saturday, for the formation of a committee to issue coins of the two categories of fifty percent dinars, noting that the "Getting Started in issuing such currencies has no affect on the currency balance Iraqi against the dollar. "

In this regard, committee member said Masood Haider, Saturday, that "the central bank governor and the committee is studying the matter and study aspects and safe compared with other currencies in preparation for the start of release."

He pointed out that "there is a procedure to remove three zeroes as it has to be the presence of large groups of currencies to replace the 50 000 coin category of 50 dinars for example." Ended O.h 



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Parliamentary Economy: not behind the delay deletion of zeros stability






5/10/2015 0:00

BAGHDAD - Muhannad Abdul Wahab
Parliamentary Economic Commission confirmed, that the instability of economic policy in the country, the main factors behind the wait is implementing a project to delete the zeros of the currency, saying that the central bank alone can not accomplish this important project without the support of the government.
Said committee member Nora Albjara: "The government has completed all the mechanisms relating to the draft deletion of zeros from the currency since the year 2013 and was able to complete the project within the required specifications," noting that "no project application came for political and economic reasons."
And confirmed the MP in a statement the "morning" that "the most appropriate time that it was possible that the implemented project to delete the zeros of the currency is the year 2012 because of the unstable political and economic climate and because of the high oil prices, as well as financial abundance at the time that allowed the state to start deleting zeros currency ".
She was a member of the Economic Commission for regret "for not cabinet vote on the project at the time, which caused the loss of an opportunity to achieve financial stability and to avoid the effects of high oil prices."
And showed Albjara, that the project application now it's difficult in the absence of opportunities for political, economic and security stability, noting that "the government has reached the vessels solutions to address the significant cluster of cash so it resorted to issuing currency category 50 000 dinars to absorb inflation, which will be issued effectively during the few months the next, "adding that the new currency comes within international standards."
In turn, confirmed member of the Committee of Economy and Investment Charter parliamentary Hamidi, said that "the central bank can not delete the zeros because of the economic situation is stable."
Hamidi said in a press statement: "The Committee of Economy and Investment parliamentary hosted Governor of the Central Bank of Iraq on the Keywords, and discussed with him for the provision of liquidity and increase demand for the dollar issues as well as the disparity in the exchange rate."
She said that Hamdi "Keywords stressed that the process of handling these things, where they will be printed new financial category worth fifty thousand dinars," indicating that "the bank for printing percent category thousand dinars to a later time."
She Hamidi that "the central bank can not delete the zeros because of the current situation and the unstable Iraqi economy," the central farewell to "increase revenue that will provide cash and foreign currency, which eases the burden on the citizen."
For its part, said a member of the Economic Committee Najiba Najib "The entire project, but to start with non-specific because of the war against Daash."
She said in a statement the "morning" that the central bank can not by itself accomplish this project because he is a specialist technical matters and the project requires full support from the government. "
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Economic Commission representative: Do not delay behind the deletion of zeros stability

Published on: 05/10/2015 - 12:41

Published by: Hamid للجنة الاقتصادية النيابية: عدم الاستقرار وراء تأخير حذف الاصفار Parliamentary Economic Commission, announced that the instability of economic policy in the country, the main factors behind the wait is implementing a project to delete the zeros of the currency, saying that the central bank alone can not accomplish this important project without the support of the government. Said committee member Nora Albjara, "The government has completed all the mechanisms relating to the draft deletion of zeros from the currency since the year 2013 and was able to complete the project within the required specifications," noting that "no project application came for political and economic reasons."

Confirmed Albjara that "the most appropriate time that it was possible to implement the project to delete the zeros of the currency is the year 2012 because of the unstable political and economic climate and because of the high oil prices, as well as financial abundance at the time that allowed the state to start deleting zeros currency". She was a member of the Economic Commission for regret "for not cabinet vote on the project at the time, which caused the loss of an opportunity to achieve financial stability and to avoid the effects of high oil prices."

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Formation of a committee to issue coins of the two categories of 50 and 100 dinars pave the way for the abolition of zeros

BAGHDAD - Iraq Press - April 11: a prelude to remove zeros from the Iraqi currency, the parliamentary finance committee revealed on Saturday, for the formation of a committee to issue coins of the two categories of fifty percent dinars, noting that the "Getting Started in issuing such currencies has no affect on the currency balance Iraqi against the dollar. "


In this regard, committee member said Masood Haider, Saturday, that "the central bank governor and the committee is studying the matter and study aspects and safe compared with other currencies in preparation for the start of release."


He pointed out that "there is a procedure to remove three zeroes as it has to be the presence of large groups of currencies to replace the 50 000 coin category of 50 dinars for example."

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Expert: delete the zeros supports the national currency and reduce inflation in the country


Economy 03-04 2015 | 06:10
  BAGHDAD / ... confirmed an economic expert d. Peace Sumaisem, on Thursday, on the importance of the subject of the deletion of zeros from the Iraqi dinar, considering it as a support of the national currency, and a reduction of inflation in the country.

Sumaisem said, in a statement to "Ein Iraq News", "delete the zeros includes two basic objectives, the deletion of zeros, and the restructuring of the Iraqi currency, instead of the $ 100 equals 120 000 Iraqi dinars, after deleting three zeros become a $ 100 equals 100 Iraqi dinars, which is equal to the dollar and the dinar This means strengthening the Iraqi currency. "

"The country suffers deficit as Iraq does not it can support its currency unless received grants from third parties, and whether this possible implementation it is important, reframes the value of the currency indirectly supporting the national currency, and when structuring currency returned it reduces inflation Iraq ". Finished / 13


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Relationship: delete zeros project and gave the green light for its implementation
Tuesday 3 March 2015 12: 47


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Alsumaria news/Baghdad
The Governor of the Central Bank for relations, Monday, that the deletion of zeros-based project, as he was giving the green light for its implementation, he stressed that this process would be preceded by organizational and administrative operations.

Allaq said at a press conference the Bank building and sumaria news, attended the "project delete zeros and put into practice and we gave a green light to start with", stating that "the project needs a period of time may extend to two years or more."


He said that this process would be preceded by "organizational and administrative processes that will be launched by walking," Noting that "the Bank began by creating models and train on it."

The Central Bank announced in May that the deletion of zeros from the country of Iraq would be redeployed to the trillions of billions, noting that the process of replacing the currency needs to be approved by the Parliament.

The Central Bank, accused in (12 September 2011), the Government of blocking the monetary reform and vowed to prosecute, blaming them for endangering the interests of the country to danger.

Some economists believe that Iraq is now prepared to delete the zeros of the Iraqi dinar, stating that deletion requires political and security stability as well as the stability of the economy.


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02/27/2015 (20:34) -

Experts: 50 dinars born "dead" .. and canceled due to fraud and the deletion of zeros
Experts: 50 dinars born "dead" .. and canceled due to fraud and the deletion of zeros


Range / Amer Mohi

A source in the CBI revealed that the bank has decided to withdraw the currency of 50 dinars from circulation category because of fraud and conflict with other categories when deleting zeros from the currency, and while experts confirmed that the abolition of the small category guide to take prices upward trend, said the 50 dinars born "dead" because they are too small and can not be accepted compared to other groups.

The Central Bank of Iraq, the day before yesterday, the currency was withdrawn from the category of 50 dinars from circulation due to "low value and stop the audience from the circulation," according to a statement of the bank. A source in the CBI told the "term" that "the Bank does not want a conflict between the currency category of 50 dinars and 500 dinars in case of deletion of zeros from the last," noting that "the central decided to cancel the deal with 50 dinars category formally instructed banks government and private bring this group to the bank in order to burn them. "
The source, who declined to be named, said "the Bank issued a decision not to deal with a class of 50 because of a major fraud after reprinted in 2003", adding that "the citizen is no longer handles this category because of the small cluster of cash for this currency, and because the cheapest thing in the market to be sold for 250 dinars for it canceled the same. "
He pointed out that "the citizen who owns a coin 50 dinars category can replace it in the bank within a specific number, it is impossible to bring people billions of dinars in this category are demanding to replace them because they certainly false."
For his part, said an expert on economic affairs Maytham Laibi "long" that "the decision to cancel the coin 50 dinars very painful, because it shows that the presence of an upward trend of prices, so that Tfariv currency has become not used in daily use," noting that "after ten years of the 50 dinars coin presence and lack of circulation dramatically means that the Iraqi market tended to handle large groups rather than to deal with small groups, indicating the money supply expanded significantly. "
Laibi and pointed out that "most of the countries of the world do not put such a condition when you drag the currency market, but they can be non-acceptance of the currency in circulation at the same time be accepted in the banking system, especially as the term is too short, which is up to two months only," but he also said "The decision can not be considered wrong in its entirety, because it has become a reality if the result of the use of this currency, and to identify specific timeframe for ending the deal in this category is the only weak point in the resolution."
In turn, said economist Ahmed Sabih told the "term" that "this group of Iraqi currency issued in the light of expectations down price levels to be smaller class can be traded among the public," noting that "the category of 50 dinars stillborn because it is very small Currency and can not be accepted in circulation compared to other groups that make up some of the complications. "
He Sabih saying that "the 50 dinars as long as calculated on the Iraqi currency bloc, it is better to replace the category of other more acceptable as a class 250 dinars, which represents smaller currency accepted by the public in circulation", adding that "this decision administrative true and does not reflect any economic effects is carried at liquidity or a reflection of the state of inflation, but it is a good procedure followed by many banks to get rid of the categories is acceptable in circulation. " The bank said in a statement received "long", a copy of which, the day before yesterday, that "due to stop the public from trading cash paper category 50 dinars, he decided to withdraw this banknote from trading on the basis of the powers vested in Article 36 of the Bank Act No. 56 of 2004".
The statement added that "banks and branches will begin to replace these banknotes presented to it without fees or commission," he said, adding that "banks will be deposited at the bank and its branches for the purpose of being the equivalent value in the accounts we have."
Bank pointed out that "the term that will replace these banknotes will begin on the first of March to 30 of April next," noting, "Once the replacement period banknote will be null and void and will not be accepted in Iraq."
March 2nd 2015 rev-1
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