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حذف الأصفار...ترشــيق.. Delete the zeros feminine ... ..

 أم امتصـــاص للعملـة ؟ Or absorption of the coin?
بتاريخ : الإثنين 25-07-2011 07:48 مساء Date: Mon 25/07/2011 19:48


تحقيق / صابرين علي Investigation / Sabrin Ali
أثارت عملية حذف الاصفار التي أعلن عنها البنك المركزي العراقي ردود أفعال متباينة، حيث انقسمت الى فريقين الاول تحفظ على هذا الإجراء والثاني سانده في ظل سياسة نقدية ساعية للجم جماح التضخم. Triggered the process of removing the zeros announced by the Central Bank of Iraq mixed reactions, which split into two teams first reservation to this procedure and the second supported by the light of monetary policy, seeking to rein in inflation. (المدى الاقتصادي) بحثت في حيثيات هذا الموضوع وتأثيراته الايجابية والسلبية على واقع الاقتصادي العراقي عبر التحقيق الآتي: (Range economic) discussed the merits of this issue and the positive and negative effects on the reality of Iraq's economic by investigating the following:
البنك المركزي Central Bank


قال مستشار البنك المركزي مظهر محمد صالح:ان حذف الاصفار من العملة يدخل في اطار هيكلتها وضمن تسهيل الاجراءات النقدية لان وجود هذه الاصفار قد اضاف الكثير من التدهور والتضخم الكبيرين على واقع العملة والتعامل بها. Central bank adviser said the appearance of Mohammed Saleh: that the deletion of zeros from the currency enters within the framework of restructuring and facilitate the monetary measures, because the existence of these zeros has added a lot of deterioration and inflation on the reality of the two major currency and dealing in them.
واضاف صالح:ان النظام النقدي في العراق اصبح معقدا بوجود الكتلة النقدية الهائلة، فان عملية حذف الاصفار تعيد ما تم اتلافه منها والتقليل من حجمها، وفي الوقت الحاضر تقوم غالبية الشعوب التي تعرضت الى صراعات اقتصادية بإصلاحات عدة ويدخل موضوع تغيير العملة ضمن هذه الاصلاحات وباشكال وفئات واحجام جديدة اما العراق فهو بحاجة الى هذا التغيير بسبب ماوصل اليه من صراعات خلال الحقبات الماضية من الزمن حتى يتمكن من احداث تغييرات على العملة من جهة والتقليل من الكتلة النقدية من جهة اخرى مع الحفاظ على قيمتها النقدية فان الدينار الواحد يساوي ألف ديناراً. Saleh added: The monetary system in Iraq has become a complicated existence of enormous mass of cash, the process of deleting the zeroes back what is destroyed them and reduce their size, and at present the majority of the people who came into conflict economic reforms, several enter the subject of changing the currency in these reforms and the forms and categories and the reluctance of a new Iraq is the need to change this because it Maousel of conflicts during the past eras of time so that he can make changes on the currency on the one hand and reducing the money supply of the other hand, while maintaining the monetary value of the dinar is equal to one thousand dinars.
وتابع صالح:ان المتعاملين بالعملات الكبيرة منها تعاملات المصارف مع بعضها من جهة وتعاملها مع البنك من جهة اخرى هم اعلم بالتعقيدات التي تمر بها العملة بسبب كبر حجم الكتلة النقدية التي وصلت اليها في الوقت الحاضر حيث انها بحاجة الى ان تكون هناك تغييرات بالفئات التي وصلت احجامها الى الترليونات ويعد هذا الامر تضخما يقع على عاتق التعاملات النقدية لانه يشكل تعقيدات عدة في مجال المدفوعات. Saleh continued: that dealers currencies big ones dealings of the banks with one hand and dealing with the bank on the other hand they know the complexities experienced by the currency because of the large volume of money supply which came to it at the present time where it needs to be changes are the categories that have reached sizes to the trillions and the inflation is that it is the responsibility of cash transactions because it is the complexities of several in the area of payments.
وبين صالح ان ترشيق العملة يعيد من توازنها ويجد نظاما يعمل على تصحيح الاقتصاد النقدي الذي وصل الى الملايين والترليونات وهذا ما عملت به الكثير من الدول من خلال حذف الاصفار مؤكدا ان هذه العملية تعمل على ترشيق العملة وتقليل الكتلة النقدية الهائلة. And the feminine in favor of the currency return of the balance and find a system that works to correct the cash economy, which reached into the millions and trillions and this is what I worked a lot of countries through the deletion of zeros, stressing that this process is working on reducing its currency and reduce the enormous mass of cash.
وقال صالح: ان هذا الموضوع لا يشمل في طياته اي انعكاسات سلبية غير انه بحاجة الى وقت كي يتم امتصاص العملة القديمة ابتداء من البنك المركزي والمصارف والشركات ومن ثم التوسع بها اضافة الى انه بحاجة الى ان يكون هناك تضافر في الجهود من قبل الحكومة ومجلس النواب كي تتم تعبئة العملة التي تكون جزءا من الاقتصاد الوطني والسوق والموازنة العامة. Saleh said: that this issue does not include within it any negative impact is that he needs time to be absorbed the old currency from the Central Bank, banks and companies and then expanding it, in addition to that it needs to be concerted efforts by the government and the House of Representatives to you fill in the currency to be part of the national economy and the market and the general budget.
وأشار صالح الى انه سوف يتم حذف إصدارات واضافة اخرى جديدة وباللغتين العربية والكردية كما سوف يتم اصدار عملة معدنية الى جانبها مؤكداً ان البنك المركزي سوف يقوم بحملات توعية واعلامية كي يتسنى للمواطن معرفة التغييرات التي تطرأ على العملة وبإشرافه على ذلك على اعتبار ان المواطن العراقي اصبح اكثر استيعاباً لهذه الأمور من خلال تعرفه على ثقافات عدة ومن خلال التجارب المثلى بهذا الموضوع. Salih noted that it will be deleted versions and add new ones in both Arabic and Kurdish will also be issuing a coin to its side, stressing that the central bank will awareness campaigns and the media so that citizens know the changes in the currency, and under its authority to that on the basis that the Iraqi citizen has become more comprehension of these things through know the cultures of several experiments and through this the ideal subject.
مكمل للنمو الاقتصادي: Complement to economic growth:
قال الخبير الاقتصادي سالم البياتي: إن موضوع حذف الاصفار من العملة يعد من الحلول المطروحة للجوانب الأكاديمية المعالجة للتضخم الاقتصادي، حيث ان هذا الموضوع جزء من حل الأزمات الاقتصادية وهذا مانجده في بعض الدول التي قامت بتغيير العملة او حذف الأصفار منها أضافت هذا الموضوع الى جانب اصلاحات اقتصادية اخرى حيث يشكل امراً مكملاً للنمو الاقتصادي في البلدان التي تمر بحالة من التقدم. The economist said Salem al-Bayati: The subject of the deletion of zeros from the currency is one of the solutions to aspects of the academic treatment of inflation, economic, as this topic is part of the solution to economic crises and this Mangda in some countries that has changed the currency or delete the zeros of which added this subject to the reforms other economic terms of an order constitutes a complement to economic growth in countries with a state of progress.
وأضاف البياتي: ان حذف الاصفار بحاجة الى اتباع سياسة نقدية منظمة الامر الذي يقينا من الكثير من المشاكل التي يمكن ان نقع فيها في ما لو تم تغييرها لان الغرض من هذا الموضوع تحقيق جدوى الاقتصادية فاذا لم تحقق هذه الفائدة الامر الذي سوف ينعكس سلباً على الاقتصاد وهذا الامر بحاجة الى ان يكون هناك ترتيب في كل ما يخص هذا الموضوع. Al-Bayati said: that the deletion of zeros need to follow a monetary policy organization, which is certainly a lot of problems that could fall at what had been changed because the purpose of this topic to achieve economic feasibility if not achieve this benefit, which will reflect negatively on the economy and this It needs to be arranged in respect to this subject.
خفض الكتلة النقدية Reduce the cash block
قال الخبير المالي هلال الطعان: إن مايخص اضافة اصفار جديدة في العملة العراقية بعد عام 2003 في الوقت الذي كان يعاني العراق من وجود حالة من التضخم المالي والنقدي ووجود حالة تزوير فيها الامر الذي ادى بالحكومات المتعاقبة إلى تغييرها وتشكيل لجنة بهذا الشأن. Said financial expert Hilal Taan: The Mi_khas add zeros of new Iraqi currency after 2003 at a time when Iraq suffers from a case of inflation, monetary and a case of fraud in which the matter which led governments successive to change and form a committee in this regard.
وأضاف الطعان: ان حذف الاصفار من العملة يؤدي الى سهولة تعامل المواطن فان الكتلة النقدية سوف تهبط من 2500 الى 15 مليار دينار اي مايعادل 3% من نسبة التضخم الامر الذي يعمل على انعاش الاقتصاد العراقي بصورة عامة وهناك نظرة تفاعلية من قبل الخبراء والمهتمين بهذا الشأن والمؤيدين لمشروع حذف الاصفار على اعتبار ان هذا الموضوع له انعكاسات ايجابية على الواقع الاقتصادي حيث انه يؤدي الى رفع القدرة الشرائية ودخول العراق في الاسواق العالمية فهناك نظرة عامة عن الدول التي تقوم بزيادة الاصفار في العملة الامر الذي يؤشر الى وجود حالة من التخلخل الاقتصادي في البلد المعني اما في حال حذفها الامر الذي يعكس وجود حالة من التحسن الاقتصادي فيها. The Taan: that the deletion of zeros from the currency leads to ease of handling citizen, the cash block will fall from 2500 to 15 billion dinars, equivalent to 3% of the rate of inflation, which works to revive the Iraqi economy in general and there is the view interactive by experts and those interested in this matter and pro- for the project to delete the zeros on the grounds that the subject has a positive effect on economic reality, where it leads to raising the purchasing power and the entry of Iraq in the global markets, there are an overview of the countries that will increase the zeros in the currency, which indicates the existence of a state of dislocation of economic in the country on either in case of delete, which reflects the existence of a state of economic improvement there.
عمليات حسابية: Calculations:
قال الباحث الاقتصادي من الجامعة المستنصرية عمرو هشام: إن حذف الاصفار تقع في اطار العمليات الحسابية فقط حيث انها تخص الارقام والتغيير الشكلي لها فهي احدى عمليات الاصلاح النقدي وهذا ما تم العمل في الكثير من الدول التي تطورت اقتصادياً وينطبق الامر على الكثير من الدول المجاورة كتركيا وروسيا الاتحادية وغيرها. He said economic researcher from the University of Mustansiriya Amr Hisham: The deletion of zeros located in part of the calculations only as it related to the numbers and change the formal it is one of Monetary Reform, and this is what has been working in many countries that have developed economically and applies it to many of the neighboring countries like Turkey and Russia Federal and others.
واضاف هشام: هناك تخوف من هذه العملية لانها تؤدي الى وجود حالة من التلاعب لدى بعض التجار كاستخدام العملة القديمة وعدم قبولهم بالتعامل في العملة الجديدة مؤكداً ضرورة ان يكون هناك وقت لتعود المواطن على العملة الجديدة وانسحاب العملة النقدية خلال هذه الوقت لكي تحل محلها وعلى اساس الطرح التدريجي لها في الاسواق. He said Hisham: There is fear of this process because it leads to a case of manipulation by some traders such as using the old currency and not accepting to deal in the new currency, stressing the need for there to be time to return the citizen on the new currency and the withdrawal of currency during this time to replace them on the basis of subtraction out in the market.
وتابع هشام:ان هذا الموضوع له اهمية وجدوى اقتصادية تعمل على اصلاح التعامل النقدي والمالي واضافة الى اهيتها الشكلية والمعنوية. He Hisham: This subject is the importance and feasibility work on the reform of monetization and financial Ahitha In addition to the formal and moral.
وبيّن هشام ان كثيرا من التجار يميلون في اغلب الاحيان الى حمل عملة الدولار لانهم يتعاملون عادة مع اموال كبيرة، حيث ان عملية حذف الاصفار تجعل امكانية التعامل بها من قبلهم سهلة And Hisham that a lot of traders tend most often to carry the dollar coin because they usually deal with big money, since the deletion of zeros makes the possibility of dealing with them easy
رفع القدرة الشرائية: Raise the purchasing power:
قال الدكتور نبيل جعفر من جامعة البصرة:ان حذف الاصفار يدخل في اطار هيكلة الاقتصاد العراقي التي اوصى بها صندوق النقد الدولي، حيث ان الغاية الاساسية من هذا الموضوع تكمن في تقليص حجم الكتلة النقدية في التعاملات المالية لدى الاسواق والمعاملات والافراد في الدينار العراقي. Dr. Nabeel Jafar from the University of Basra that the deletion of zeros included in the framework of restructuring the Iraqi economy, which was recommended by the International Monetary Fund, as the basic purpose of this subject lies in reducing the size of the monetary mass in financial transactions in the markets and transactions and individuals in the Iraqi dinar.
وأضاف جعفر تعد هذه الخطوة من الخطوات الايجابية تجاه الاقتصاد حيث انها لم تكن جديدة على الواقع الدولي والاقليمي وتم تغييرها في الكثير من الدول وتشكل خطوة ايجابية نحو التقدم الاقتصادي لتلك الدول. Jaafar said the move is a positive steps towards the economy, where they were not new to the regional and international reality has been changed in many countries and constitutes a positive step towards economic progress for these countries.
وتابع جعفر ان فكرة حذف الاصفار لا تشكل اي خطر على العملة النقدية اوارتفاع الاسعار في ما لوتم التعامل مع هذا الموضوع بشكل منظم، وهي مسألة شكلية ولكنها تحتوى على افكار اقتصادية من شأنها خفض الكتلة النقدية وتسهيل عمليات استخدامها بدلاً من استخدام العملات الاخرى من قبل بعض التجار. He Jaafar said the idea to delete the zeros do not constitute any risk to the currency Awartvaa prices in what has been dealing with this subject in an orderly fashion, a matter of form but include economic ideas that would reduce the money supply and facilitate their use instead of using other currencies by some traders .
وبين جعفر ان هذا الموضوع من شأنه ان يعمل على رفع القدرة الشرائية للافراد، حيث انها سوف تؤدي الى التعامل بالعملة العراقية ويرفع من قيمة العملة النقدية تجاه الدولار والعملات الاخرى لان من مثل هذا الموضوع يعمل على زيادة الثقة بها من قبل المتعاملين بها سواء كانوا محليين او اجانب. And Jafar that this issue would work to raise the purchasing power of individuals, where it will lead to a deal in Iraqi currency and raise the value of the currency against the dollar and other currencies because of such a subject is working to increase the trust of dealers out whether local or foreigners.
عمليات إدارية: Administrative processes:
قال الدكتور حازم عبد الحميد النعيمي من الجامعة المستنصرية:تعد عملية تغيير العملة وحذف الاصفار منها من الامور التي تدخل في اطار التعاملات الادارية اكثر من غيرها، و لها اهمية حسابية مؤثرة اتجاه التعاملات الاقتصادية والانتاجية على حد سواء نحو الامام. Dr. Hazem Abdel-Hamid Al Nuaimi, University of Mustansiriya: The process of changing the currency of zeros and delete them from the things that fall within the framework of administrative transactions more than others, and has an impressive way the importance of accounting for economic transactions and productivity on both forward.
وتابع النعيمي: ان هذه المسألة لا تمثل اي خطر اتجاه التأثير على السوق او الاسعار والقدرة الشرائية بل على العكس انها تزيد من القدرة الشرائية للسلع والتعاملات للدينار العراقي. He said al-Naimi: that this issue does not represent any risk to influence the direction of the market or prices and purchasing power, but on the contrary it increases the purchasing power of goods and transactions for the Iraqi dinar.
وبين النعيمي ان تغيير العملة يعد من المسائل الرقمية التي يتم فيها تغيير العملة في الارقام فقط، اما التخوف والانعكاسات السلبية منها يدخل في امور الغش والتلاعب من قبل بعض الافراد والتجار كعدم التعامل بها ورفع الاسعار بسبب عدم ادراك الناس لها وبالنتيجة يبقى هذا الموضوع مؤقتا ويمكن ان يأخذ مجراه في معالجته من قبل الجهات المعنية والمختصة بهذا الشأن. And the al-Naimi that the change of currency is one of the issues the digital you change the currency in figures only, while the fear and the negative repercussions of which enter into matters of fraud and manipulation by some individuals and traders such as not to deal with and raise prices due to a lack of understanding people have, and the result remains the subject is temporary and can be take its course in its treatment by the authorities concerned and competent in this regard.
ارتفاع الأسعار: Higher prices:
قال الخبير محمود شاكر الربيعي: ان تغيير العملة سوف يؤدي الى ارتفاع الاسعار للسلع والخدمات مع البدء بتغييرها، لان هذا الموضوع مرتبط بالعملة التداولية للافراد والسوق حيث انها لا تعني اعادة هيكلة العملة او التقليل من قيمتها النقدية. Expert said Shaker Mahmoud al-Rubaie: that changing the currency would lead to higher prices for goods and services beginning with the change, because the currency is linked to the subject of parliamentary members and the market where it does not mean re-structuring of currency or reduce the cash value.
واضاف الربيعي: ان مشكلة المصارف في موضوع تغيير العملة سوف تنحصر في عدم ايداع الناس اموالهم فيها، فان الغالبية العظمى تجهل اهمية المصارف ودورها في حفظ الاموال وزيادتها، وان الملايين من الاموال يتم حفظها داخل المنازل، حيث ان امكانية وصول الاموال الى المصارف ضئيلة جداً فلا يمكن للمصرف استقطاب رؤوس الاموال الكبيرة مما يكون نقطة سلبية في اتجاه تغيير العملة. Al-Rubaie added: The problem of the banks on the subject of changing the currency would be restricted to non-deposit of the people their money where, the vast majority does not know the importance of banks and their role in keeping the money and increase, and millions of money is saved in the home, where the possibility to access funds to banks is very small there is no the bank can attract capital scale, which can be a negative point in the direction of change of the currency.
وتابع: ان تغيير العملة لها عامل نفسي ايجابي، حيث يشعر المواطن بكبر حجم الدينار مما يزيد من القدرة الشرائية لها بالاضافة الى ان الدينار العراقي سوف تكون له اهمية وقيمة مالية لدى المستثمرين وذلك من خلال ثبات سعر الصرف الدينار مقابل الدولار الامريكي حيث يكون حساب المعدات والخدمات التي يمكن ان تستخدم على ارض الواقع الاستثماري بشكل ارخص مما يهيئ بيئة استثمارية ملائمة للاستثمار. He continued that the change of currency has a psychological factor positive, where citizens will feel the high volume of dinar, which increases the purchasing power of that in addition to that the Iraqi dinar will be of importance and financial value for investors through the stable exchange rate of the dinar against the U.S. dollar, where the expense of equipment and services that can be used on the ground investment is cheaper than creating a favorable investment environment for investment.
وبين الربيعي ان هذا الموضوع سوف بتعرض في بداية الامر الى الارباك مؤكداً ضرورة تكوين قاعدة رصينة قبل البدء بهذه العملية لتلافي التضخم الذي وقع في السابق عندما تم تغيير العملة فالبنك المركزي يجب ان يلم بكافة الامور المتعلقة بهذا الجانب قبل القيام بأية خطوة. Between the spring and that this issue will be at the beginning of exposure of the matter to the confusion, stressing the necessity of forming a solid before you start this process to avoid the inflation that occurred in the past when it was changing the currency the central bank should be aware of all the things on this side before you make any step.

حدوث فجوه اقتصادية: An economic gap:
قالت الباحثة الاقتصادية من مركز بحوث السوق منى الموسوي: ان تطبيق هذا الموضوع في بعض الدول لا يعني بالضرورة نجاحه او ضرورة القيام به على ارض الواقع فان هذا الموضوع يشمل في طياته مؤثرات قد تقع على عاتق العملة النقدية من خلال القدرة الشرائية حيث يمكن ان يتأثر السوق بهذه العملية بالاضافة الى امكانية حدوث ارتفاع في الاسعار فان الاسواق عادةً تتأثر بقوى العرض والطلب فان حدوث فجوة اقتصادية بهذا الامر قد يؤدي الى حدوث مشاكل اقتصادية نحن في غنى عنها في الوقت الذي يعمل الجميع لرفع من مستوى المعيشة للمواطن. Said the researcher from the Centre for Economic Research Market Mona al-Musawi: The application of this subject in some countries does not necessarily mean success or the need to do on the ground, this issue includes in it the effects may lies with the currency by purchasing power can be affected by market this process in addition to the possibility of a rise in prices, the markets are usually affected by the forces of supply and demand, an economic gap in this matter could lead to economic problems we do not need at a time when everyone is working to raise the standard of living for the citizens.
واضافت الموسوي: ان الموضوع بحاجة الى دقة وتنظيم قبل الوقوع باي خطأ محتمل من جراء تغيير العملة وفي الواقع ان هذا الموضوع يعد مطلباً ولكن ليس في الوقت الحالي لان تطبيقه بحاجة الى إمكانات متنوعة من قبل البنك المركزي وتهيئة واستعداد وتقبل المواطن واستيعابه للعملة الجديدة. She said Moussaoui: The issue needs to accuracy and organization before falling any potential error by changing the currency in the fact that this issue is a requirement, but not at this time because the application needs to the potential variety of the central bank and the creation of and willingness to accept the citizen and the understanding of the new currency.
ثبات سعر الصرف للدولار: The stability of the exchange rate of the dollar:
قال الكاتب والباحث الاقتصادي علي الفكيكي: ان تغيير العملة تقوم بخدمة الاعمال الادارية وتسهل من عملية نقل العملة من مكان الى اخر من خلال تغيير الكتلة النقدية لها، اما الفرق الحاصل بين العملتين هو الحجم والسهولة بالتنقل اما النتيجة واحدة فان القيمة سوف تبقى على حالها وليس له اي تأثير ايجابي او سلبي على الواقع الاقتصادي للعملة اوعلى مشهد الاسعار ويعد هذا الموضوع عملية اصلاحية لها وما يشكل من خدع للبصر فان الرواتب والاجور سوف تبقى على حالها وبثبات القيمة نفسها. A writer and researcher economic gnathion NA: Changing the currency serving the administrative and facilitate the transfer of currency from one place to another by changing the mass of cash, either the difference exists between the two currencies is the size and easy to move either one result, the value will remain unchanged and has no any positive or negative impact on the economic reality of the currency prices, or which scene is the subject of reform process and have a vision of the tricks of the salaries and wages will remain unchanged and consistently the same value.
واضاف الفكيكي: ان الدينار العراقي مرتبط بالدولار الامريكي He gnathion NA: that the Iraqi dinar is pegged to the U.S.
، وان تغيير العملة سوف يخلق حالة من التشابه بينهما مع ثبات سعر الصرف الامر الذي يزيد من مخاوف المستثمرين. , And that changing the currency would create a state of similarity between them with the stable exchange rate, raising fears of investors.
وتابع الفكيكي:ان الواقع الاقتصادي العراقي مر في السابق بتغيير العملة وتم تجاوزه على رغم من قلة وعي المواطن بهذا الموضوع اما في الوقت الحاضر فان امكانية تطبيقه قد تكون بشكل اسهل بسبب انتشار الوعي المالي لدى الغالبية العظمى من المواطنين حيث ان انطلاق مثل هذا الموضوع ونجاحه بشكل مباشر يعتمد على قرارات البنك المركزي. He gnathion NA: The economic reality of Iraq over the past change currency was passed in spite of the lack of citizen's awareness of this issue either at the present time, the possibility of its application may be more easily because of the spread financial awareness to the vast majority of citizens as the start of such a subject and its success in directly depends on the decisions of the Central Bank.












Delete the three zeroes from the Iraqi currency

Posted: July 8, 2011 by THE CURRENCY NEWSHOUND     

July 6 2011

From time to time ask the CBI idea of raising three zeros from the Iraqi currency, and announced that he is about to finish the final touches on this draft law

to regulate the process of lifting to be sent to the Council of the Prime Minister and then to the House of Representatives to decide whether there is a need to

raise three zeroes from the Iraqi currency or not, when he said a senior official in the monetary authority to the House of Representatives is the author of the

recent decision in this regard.

Adviser says the Iraqi Central Bank: The project will organize a mechanism for lifting the three zeroes to promote the value of local currency in circulation

economic, external and internal, and considered the project a strategic project aimed at reducing inflation experienced by the Iraqi market, and the Finance

Ministry announced last February that the deletion of zeros from the local currency will liberate the Iraqi economy from the constraints and enhance the value

of the Iraqi dinar in the IMF.

We believe that the draft raise three zeroes from the Iraqi currency is the glory and do not raise the value of the Iraqi dinar and will add when applied to the

problem of several other dimensions to the many problems experienced by the Iraqi economy is deteriorating, and this problem is the confusion and

disorganization of the market in buying and selling and debt among citizens, as well as confusion mental state that will plague the Iraqi people as a result of

the emergence of a new phenomenon requires the intellectual and psychological stress of the back and accepted.

On the other hand requires the project and before applying SC small denominations of currency are parts of the dinar, which will be worth a penny, knowing

that the minting these coins small would cost the state large sums of money, and that the project does not enhance the value of the Iraqi dinar (says the

Ministry of Finance) where it will remain a value as (If you put equal amounts of the other equal results are equal).

In a statement differently from the Central Bank of Iraq that the process of removing three zeroes from the local currency is a complex process and need to

study the economic extensively, also said adviser to the CBI we have to deal with this issue cautiously and carefully as they may cause economic problems

in the event of rush or do any Another thing confuses the economic situation in Iraq.

And we say, Not wanting to pay the occurrence of such problems we see from the best and most effective project is put on the Iraqi public with a call to

specialists in economics to indicate their opinion and familiarity with it before sending it to the prime minister and parliament.

And promises to start see the futility of the project – as we think – he does not raise the value of the Iraqi dinar, we aspire to adopt the CBI and economists

project that aims to raise the value of the Iraqi dinar to its former value to return is equal to (3.33) U.S. $ through a package of actions and bold decisions, the

first review of the operation import wrong and reduced to the extent necessities, as the import open wide drain excess foreign currency and deposited with the

Central Bank of Iraq in support of the Iraqi currency, and not put up for sale by public auction for those wishing to by the Iraqi traders to cover Astiradathm of

goods, as well as the review in order to reduce public spending to the state and its departments in regards to import furniture is expensive, as can be obtained

from the local market, which encourages and supports the sector of local industry and create jobs for the unemployed, also support the development of the

agriculture sector by helping farmers with seeds and agricultural machinery to increase the production of agricultural crops.

There are also other things to support the Iraqi currency, including: reducing operations Alaivadat staff and make it only for the purpose of training and development.

http://wp.me/pZC7o-98q



http://www.iraq-businessnews.com/tag/revaluation/

Tag Archive | "revaluation"

Iraq Prepares to Redenominate its Currency

Posted on 27 June 2011. Tags: , , ,

According to a report from Al Sumaria News, Iraq’s Central Bank announced on Thursday that it is planning to delete the zeros from its currency,

the Iraqi dinar. This step is one of the bank’s strategic missions, the Central Bank said adding that the new currency will include the Kurdish language

in addition to the Arabic language. “The zeros that were added to the Iraqi currency previously constituted a large money supply up to 28.500 trillion Iraqi Dinar

and 5 trillion banknotes”, the adviser of Iraqi Central Bank governor Mothahhar Mohammed Saleh [Mudher Mohammed Saleh] told the agency.

“The Central Bank has prepared all requirements needed to delete the zeros from the Iraqi Currency”, Saleh said.

“This step is one of the Iraqi central bank’s strategic missions. The monetary policy of the bank aims to structure and reduce the currency in a country

moving towards an economic phase”, he added.

“The project of deleting zeroes is complete. It will be submitted to the central bank’s administration in the next session. Then, it will be passed to the ministerial

council before presenting it to the Parliament for vote. The mechanisms of changing the currency will be gradual. It will be preceded by awareness campaigns

for citizens”, the adviser of Iraqi Central Bank governor said. “The new currency will be printed after deleting the zeros and will include the Kurdish language in

addition to the Arabic language. It will also bear photos of Iraq’s civilization in addition to symbols of Iraqi intellectuals and figures”, Saleh noted.

Sanan Al Shebeibi [Sinan Al-Shabibi], Governor of Iraq’s Central Bank, affirmed during the meeting of independent commissions on June 19 with Prime Minister

Nuri Al Maliki that the bank is preparing all requirements needed to replace the Iraqi Currency.

Iraq’s Central Bank has four branches including Basra, Sulaimaniah, Erbil and Mosul. It was founded as an Iraqi independent bank by virtue of Iraq’s Central Bank

Law issued on March 6, 2004. The bank is responsible for the prices stability and the implementation of monetary policy including exchange rates, the

management of foreign reserves, the issuance of currencies and the organization of the banking sector. It’s six years since neighboring Turkey re denominated

its currency, making one ‘new Turkish lira’ equal one million ‘old Turkish lira’.

(Source: Al Sumaria)

Posted in Banking & FinanceComments (27)


Iraq Said To Be Planning Currency Overhaul, Redenomination

Iraq's 25,000-dinar banknotes apparently won't get you as far as they used to.

Iraq's 25,000-dinar banknotes apparently won't get you as far as they used to.

June 24, 2011
BAGHDAD -- A senior Iraqi Central Bank adviser says the
government has adopted a two-pronged plan to restructure the
national currency in order to facilitate large transactions and make
government accounts more efficient, RFE/RL's Radio Free Iraq reports.

Mudhhir Muhammad Salih, a member of the bank's advisory panel,
told RFE/RL on June 23 that in the short term, larger banknote
denominations of the dinar would be issued to simplify major
transactions.

He said that because so many Iraqis still dealt mainly in cash, it
was cumbersome to carry bags full of money to pay for expensive
items like cars. The inconvenience leads people making such
purchases -- as well as many entrepreneurs -- to use dollars for
those kinds of transactions instead of dinars, something the
government wants to end.

He added that large denominations equivalent to around $100 would
be issued to simplify major purchases, and new coins and lower
denominations would be introduced for smaller transactions.

In the longer term, Saleh said a redenomination was needed wherein
three zeros will be dropped so that the 25,000-dinar banknote --
currently the largest denomination -- becomes a 25-dinar note.

He said the change was inevitable, considering the economy is
expecting high growth in the coming years with a planned increase
in oil production to finance reconstruction projects.

Saleh said there were currently some 29 trillion dinars in circulation in Iraq, represented by some 6 trillion banknotes of various denominations, most of them
quite small. He said this also caused complications for the Central Bank and government, as well as commercial accounting departments.

Saleh said the monetary-restructuring plan was drawn up with the help of foreign experts and financial institutions, including the International Monetary Fund,
of which Iraq has been a member since 1945.

The plan will soon be presented to the cabinet, which is expected to subsequently send a bill to parliament.

Saleh noted that until 1980 the Iraqi dinar exchange rate was 1 dinar/ $3.3 compared to $1/1,168 dinars now due to hyperinflation that occurred during the latter
part of the late ousted leader Saddam Hussein's reign.



Iraq Central Bank ‘To remove 3 Zeroes from Dinar”

Posted on 14 April 2011. Tags: , , ,

Iraq’s Central Bank announced on Tuesday that the project to re-denominate the Iraqi Dinar, removing three zeroes, is close to completion.

According to the report from Alsumaria TV, the re-denomination project is believed to be a strategic plan that will be passed to the ministerial council and

Parliament once complete. A Central Bank’s advisor, Mothahhar Mohammed Saleh, said in a statement to the agency that the plan aims to reduce transactions

costs and help people carry less money. Iraq’s central Bank has managed during the past five years to reduce inflation rates from 34% to 3 or 4% and stabilize

Iraqi Dinar exchange rate, he said. In an earlier statement to Alsumaria News, he confirmed that the bank plans to remove three zeroes from the Iraqi Dinar,

noting that the zeroes which were added to the Iraqi currency previously constituted a large money supply estimated at 27 trillion Iraqi Dinar.

Saleh revealed on the other hand that Iraq engages for the first time in banks payment system as it moved from manual to electronic clearance. The system

includes six banks in addition to electronic deeds exchange, he said adding that the smart and credit cards will be bound to the central bank system.

Iraqi economists believe the re-denomination of Iraqi Dinar will not have a major influence on the purchasing power of the Iraqi Dinar “which the government has

high hopes on it”.

(Source: Alsumaria TV)

Posted in Banking & FinanceComments (64)


IMF Suggests Stable Iraqi Dinar

Posted on 30 March 2011. Tags: , , , , ,

A report on Monday by the International Monetary Fund (IMF) suggests that the Iraqi dinar is currently fairly valued at 1170 dinars to the US dollar:

The CBI [Central Bank of Iraq] will continue to aim at keeping inflation low, predominantly by maintaining a stable exchange rate. The low level and the relative

stability of inflation do not suggest any significant over- or under-valuation of the Iraqi dinar. Also, a stable exchange rate continues to provide a solid anchor for

the public’s expectations in an otherwise highly uncertain environment and in an economy with a very low level of financial intermediation.

The report continues, “Meanwhile, the CBI will continue to keep its policy interest rate positive in real terms. To enhance mobilization of domestic financing,

limitations on state-owned banks’ use of government deposits for investing in Treasury bills have been reduced, while the pension fund has also been allowed

to invest in Treasury bills and to participate in auctions directly.” It also allows for the possibility of an upward drift in the value of the dinar over the years:

Staff supports the CBI’s policy of managing the exchange rate of the Iraqi dinar to keep inflation low. A stable exchange rate continues to provide a solid

anchor for the public’s expectations in an otherwise highly uncertain environment. Over time, rising oil revenues could put upward pressure on the real exchange

rate, which would warrant allowing greater exchange rate flexibility.

The full document can be downloaded by clicking here.

Posted in Banking & FinanceComments (4)



Iraq May Legislate on Currency Exchange

Posted on 09 March 2011. Tags: , , , , ,

According to a report from AKnews, a number of bankers in Baghdad have demanded that the Iraqi parliament legislates to regulate and protect their businesses

from market changes because of the sudden decisions taken by the Iraqi government. Ali Abdul-Zahra, owner of an foreign exchange bureau, told AKnews that

banking in Iraq is still precarious and that regulation is needed on the opening of forex services. “The law is supposed to prevent any economic decision that may

disrupt the currency market which negatively affects the work of the offices.”

“The circulation of hard currency (dollar) at the present time follows the decisions taken by the Iraqi government in particular with regard to the entry of goods into

the country.” Fadil Taher, the owner of Qusour Exchange office in Baghdad told AKnews that “the exchange work in Iraq is subjected to unjustified controls and

in need of great facilities by the concerned authorities.” “The banking offices suffer from the problem of mobile money-changers who affect the Iraqi market and

this must be addressed by the Iraqi government to prevent the currency exchange outside of regulated offices.”

“The well-known banks do not deal with unknown external financial dealers and they work according to the regulations of money laundering law, which is adopted

by the Iraqi Central Bank (ICB).”

Posted in Banking & FinanceComments (1)


The Future for the Iraqi Dinar

Posted on 21 October 2010. Tags: , , , , , ,

We get many enquiries at Iraq Business News relating to the future of the Iraqi dinar (IQD), for example:

  • Will the Iraqi dinar increase in value?
  • Will the currency be re-denominated, dropping the ‘three zeros’?
  • Is it wise to buy Iraqi dinar?

Firstly, Iraq Business News is not in a position to give investment advice. Our mission is to provide our readers with the highest quality information on the

business and economy of Iraq. We hope that this information will be useful to decision-makers at all levels.

Regarding the dinar, we do not have a crystal ball, but in the past the ramping up of petroleum production has often caused currencies to rise, and it is certainly

the plan over the coming years to greatly expand Iraq’s oil and gas output.

Experts debate  whether re-denominating the currency (dropping the zeros) would help the economy or change the underlying valuation of the currency, and we

present all sides of that debate. Read more …

Posted in Banking & Finance, BlogComments (6)


Alsumaria TV to Re-Run Dinar Re-Denomination Program

Posted on 17 October 2010. Tags: , , , , , “Bi tarikh Al Ghad” is a weekly

political talk-show prepared and presented by Ahmad Hassan and directed by Yaseen Mohamad Amin. It retraces the latest major political developments taking

place in Iraq and handles events from a leading-edge angle. “Bi tarikh al ghad” projects the consequences of newest developments on the political process and

highlights their effect on the current situation. It analyzes as well the future impact of the present situation on Tomorrow’s political stands and provides insight

on how Iraqis see their future. “Bi Tarikh Al Ghad” is a political talk-show aimed at uncovering the fate of Iraq.

Given the generated by the episode on Iraqi Dinar re-denomination that aired on 8-10-2010, the episode will be rerun on Friday 22-10-2010.

Iraq’s Central Bank set up a new strategic project in 2007 under the name of “Iraqi Currency revaluation” under the recommendation of the Supreme Economic

Committee related to the Ministerial Council with the support of Iraq’s Finances Ministry. The project aims to re-denominate the national currency by

removing zeros from the currency.

The episode tackled the following issues:

  • Is Iraq’s economy prepared for such a change?
  • What is the effect of removing zeros from the currency?
  • Will removing zeros from the currency cause fluctuations in the Iraqi market?
  • Is the project aimed to improve Iraqi payments system?
  • What is the effect of removing zeros on bonds market? How is the process of removing zeros progressing?
  • Will removing zeros add up to the purchase value?
  • What are the gains of such a project?

These questions were addressed with the following guests:

  • Iraq’s Central Bank advisor, Mazhar Mohammed;
  • Economist, Basem Antoine;
  • Economist, Majed Al Souri;
  • Baghdad Investment Committee spokesman and economist, Thaer Al Fili [Thair Feely];
  • Industrial investor, Thabet Al Baldawi;
  • Head of Iraqi Businessmen Union, Ragheb Rida;
  • and a number of Citizens.




Presented By: Ahmad Hassan
Directed By: Yaseen Mohamad Amin
Broadcast Time: Friday @ 21:55
Rerun Time: Sunday @ 11:00
Email: b-alghad@alsumaria.tv


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Iraq News



Iraq’s Central Bank to delete zeros from Iraqi currency.


Saturday, June 25, 2011 09:23 GMT


Iraq’s Central Bank announced on Thursday that it is planning to delete the zeros from the Iraqi currency.

This step is one of the bank’s strategic missions; the Central Bank said adding that the new currency will include the Kurdish                           language in addition to the Arabic language.


“The zeros that were added to the Iraqi currency previously constituted a large money supply up to 28.500 trillion Iraqi Dinar and 
5 trillion banknotes”, the adviser of Iraqi Central Bank governor Mothahhar Mohammed Saleh told Alsumarianews.


“The Central Bank has prepared all requirements needed to delete the zeros from the Iraqi Currency”, Saleh said.


“This step is one of the Iraqi central bank’s strategic missions. The monetary policy of the bank aims to structure and reduce the
currency in a country moving towards an economic phase”, he added.


“The project of deleting zeroes is complete. It will be submitted to the central bank’s administration in the next session. Then, it will be                  passed to the ministerial council before presenting it to the Parliament for vote. The mechanisms of changing the currency will be gradual.
It will be preceded by awareness campaigns for citizens”, the adviser of Iraqi Central Bank governor said.


“The new currency will be printed after deleting the zeros and will include the Kurdish language in addition to the Arabic language. It will         bear as well photos of Iraq’s civilizations and patrimony in addition to symbols of Iraqi intellectuals and figures”, Saleh noted.


On June 19, Iraq’s Central Bank Governor Sanan Al Shebeibi affirmed during the meeting of independent commissions with Prime 
Minister Nuri Al Maliki that the bank is preparing all requirements needed to replace the Iraqi Currency.


Iraq’s Central Bank has four branches including Basra, Sulaimaniah, Arbil and Mosul. It was founded as an Iraqi independent bank
by         virtue of Iraq’s Central Bank Law issued on March 6, 2004.


The bank is responsible for the prices stability and the implementation of monetary policy including exchange rates, the
management of foreign reserves, the issuance of currencies and the organization of the banking sector.

http://www.alsumaria.tv/en/Iraq-News/1-65688-Iraq%E2%80%99s-Central-Bank-to-delete-zeros-from-Iraqi-currency..html


Iraq Said To Be Planning Currency Overhaul, Re-denomination

Posted: June 24, 2011 by THE CURRENCY NEWSHOUND - 

Iraq's 25,000-dinar banknotes apparently won't get you as far as they used to.June 24, 2011
BAGHDAD — A senior Iraqi Central Bank adviser says the government has adopted a

two-pronged plan to restructure the national currency in order to facilitate large

transactions and make government accounts

more efficient, RFE/RL’s Radio Free Iraq (RFI) reports.

Mudhhir Muhammad Salih, a member of the bank’s advisory panel, told RFI on

June 23 that in the short

term, larger banknote denominations of the dinar will be issued to simplify major

transactions. He said that because so many Iraqis still deal mainly in cash, it is cumbersome to carry bags full of money

to pay for expensive items like cars. The inconvenience leads people making such purchases — as well as

many entrepreneurs — to use dollars for those kinds of transactions instead of dinars, something the

government wants to end.

He added that large denominations equivalent to around $100 will be issued to simplify major purchases, and new coins and lower

denominations will be introduced for smaller transactions.

In the longer term, Saleh said a redenomination is needed wherein three zeros will be dropped so that the 25,000 Iraqi-dinar banknote

— currently the largest denomination — becomes a 25-dinar note.

He said the change is inevitable, considering the economy is expecting high growth in the coming years with a planned increase in oil

production to finance reconstruction projects.

Saleh said there are currently some 29 trillion dinars in circulation in Iraq, represented by some 6 trillion banknotes of various

denominations, most of them quite small. He said this also causes complications for the central bank and government, as well as

commercial accounting departments. Saleh said the monetary-restructuring plan was drawn up with the help of foreign experts and

financial institutions, including the International Monetary Fund (IMF), of which Iraq has been a member since 1945.

The plan will soon be presented to the cabinet, which is expected to subsequently send a bill to parliament.

Saleh noted that until 1980 the Iraqi dinar exchange rate was 1 dinar/ $3.3 compared to $1/1,168 dinars now due to

hyperinflation that occurred during the latter part of the late ousted leader Saddam Hussein’s reign.

http://wp.me/pZC7o-8Ov


CBI: “Structuring currency” includes lifting of the zeroes and the issuance of new categories

Posted: June 24, 2011 by THE CURRENCY NEWSHOUND 

June 23 2011

Confirmed the Iraqi Central Bank Consultant Dr.. Appearance for the project of restructuring the local currency will include the process

of lifting the zeros from the currency and the issuance of large groups and a new small, noting that it will support the currency in terms of

“transaction costs”, stressing that the project will be implemented in a strategic and several stages.

Saleh said in an interview with “by the people” yesterday, said the worsening economic situation and rampant inflation, which hit the

country, added zeros to the currency, and I’ve made these structural weak content of the value of it, pointing out that the citizen uses the

categories of high-volume but low-content values.

“The restructuring of the currency” will raise zeros from the currency and the issuance of large and small groups of new ones, will

contribute to support the currency in terms of “transaction costs”, adding that it does not affect the citizens’ income, nor to contracts

or anything else. And the Chancellor that with global economic growth and increase the country’s oil exports would lead to higher

imports of cash, the current form of currency does not suit the new phase.

Saleh pointed out that the proposed restructuring of the currency is a strategic project, and “needs to support the government and

parliament and the people,”pointing out that preceded the project awareness campaign including the citizens, “because the dinar is for all

Iraqis, but not limited to a particular class,” saying, “We are going to do when matures and people embrace it. “

He said the project will facilitate commercial exchanges and the citizen will not have time to switch the currency to do so, stressing the

goal of the project is to raise the burden on the citizen, and make it prosperous.

http://wp.me/pZC7o-8O8


CBI is preparing to delete the zeros of the new Iraqi currency with Arabic and Kurdish

Posted: June 24, 2011 by THE CURRENCY NEWSHOUND 

Central Bank of Iraq, on Thursday, his willingness to delete the zeros from the currency, pointing out that the new currency will contain

the Kurdish language in addition to Arabic. Advisor to the Governor Central Bank of Iraq the appearance of Mohammed Saleh said,

stating that the zeros added to the Iraqi currency during the last period, formed a cluster of large cash $ 28 trillion and 500 billion Iraqi

dinars, or nearly 5 trillion banknote. Salih stressed that the project to delete the zeros have been completed and will be presented to the

Bank’s management during its next meeting, and then will be submitted to the Council of Ministers to be presented to parliament for a

vote. And that the new currency that will be printed after the deletion of zeros will contain writings in both Arabic and Kurdish, as well as

photographs indicate the heritage and cultures and symbols of Iraq to Iraqi scientists and intellectuals.

http://wp.me/pZC7o-8NR


CBI declares its readiness to start deleting zeros from the Iraqi currency, and add the Kurdish

language on the new.

Posted: June 24, 2011 by THE CURRENCY NEWSHOUND 

Friday, 24 2011


Central Bank of Iraq, Thursday, for his willingness to delete the zeros of the Iraqi currency, and as he emphasized that this step is one

of the strategic functions of the Bank, pointed out that the new currency will contain on the Kurdish language in addition to Arabic.

The adviser said the Iraqi Central Bank Governor appearance of Mohammed Saleh an interview with ” Alsumaria News “,” The zeros

are added to the Iraqi currency during the last period, formed a cluster of large cash $28 trillion and 500 billion Iraqi dinars, nearly five

trillion banknote, “noting that” the Bank has created all the supplies for the deletion of zeros from the currency ” . Saleh added that

“the process is one of the strategic functions of the Central Bank of Iraq,” adding that “monetary policy of the Bank based on the

structure and reduce the volume of currency in a country moving to the stage of the economy.” Salih stressed that “the project to delete

the zeros have been completed and will be presented to of the Central Bank of Iraq during its next meeting, and then will be submitted

to the Council of Ministers to be presented to the House of Representatives for a vote, “pointing out that” the mechanisms of switching

and changing the currency would be gradual preceded by campaigns to educate the citizens. “ Saleh continued that “the new currency

that will be printed after the Delete the zeros will contain the Kurdish language in addition to Arabic, as well as some pictures that refer

to the heritage and civilizations of Iraq and the symbols of scientists and thinkers the Iraqis. “ The Iraqi Central Bank Governor

Sinan Shabibi said at a meeting of independent bodies with Prime Minister Nuri al-Maliki, which took place in the 19 of June

current readiness for the creation of all supplies to replace the Iraqi currency. The Central Bank of Iraq, has four branches in Basra and

Sulaymaniyah, Irbil and Mosul, which was established as a bank independent Iraqi under the law of the Central Bank of Iraq issued on

the sixth of March 2004, which is responsible for maintaining price stability and implementation of monetary policy, including exchange

rate policies and the management of foreign reserves and the issuance of currency management, as well as to regulate the banking

sector.

http://wp.me/pZC7o-8O0






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Delete three zeros from currency

Sabih Al-Hafiz



Posted 08/05/2011 10:00 AM



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From time to time by the Central Bank raised the idea of raising three zeros from the Iraqi currency, and he almost completed a draft law to regulate the process of delisting to be sent to the Cabinet Council and then to the House to decide whether there is a need to raise the three zeros from the currency of the issuer, where a senior official confirmed. The Monetary Authority that House is the final decision in this regard. Iraqi Central Bank adviser says: the project will be organized to raise three zeros to the advancement of local currency in circulation economic external and internal, strategic project aimed at reducing inflation suffered by the Iraqi market, the Finance Ministry announced in February that delete zeros from the currency will free the Iraqi economy and enhances the value of Iraqi dinars in Fund The World Bank.

We believe that draft raised three zeros from the currency but glory and of Iraqi dinar when applied will add another problem many multidimensional problems affecting the deteriorating economy, these problems is confusion and clutter the market buy and sell debt among citizens, as well as confuse mood that will haunt the Iraqi citizen by appearance New phenomenon requiring intellectual and psychological stress of familiarity and acceptance.

On the other hand requires the project before its small population categories represent parts of the dinar currency will be worth a penny, note that these small currencies would cost the State large sums, then the project does not enhance the value of Iraqi dinars according to the Ministry of Finance where the value will remain unchanged if equal amounts of the other results are equal

And in contrast to the Iraqi Central Bank that the process of raising three zeros from the local currency is a complex process requiring extensive economic study , also Central Bank adviser said we have to deal with this issue with caution and Tan because it may cause economic problems in case of premature or do anything else confusing economic situation.

We say a conservative and push those problems feel better it put the project on the Iraqi public with invited competent in economics to demonstrate their familiarity before being sent to the Cabinet Council and Parliament.

Promises to start seeing the futility of the project-we believe-does not lead to the lifting of the Iraqi dinar, we aspire to adopt the Central Bank of Iraq, economists project that aims to raise the Iraqi dinar value for equal to (3.33) dollars through package and bold decisions, first review the import process and reduced To import necessities, as wide open drain excess foreign currency held by the Central Bank of Iraq in support of Iraqi currency, and not for sale by auction of the willing by Iraqi businessmen to cover asteradathm of goods, as well as review to reduce public spending and services in relation to import expensive furniture, obtainable from market Local, which encourage and support local industry and jobs for the unemployed, also support and develop agriculture through assisting farmers with seeds and agricultural machinery in order to increase the production of agricultural crops.

There is also other things to support Iraqi currency: reduction operations staff testimony and made only for the purpose of training and development.

 


Dated April 30tth

Economic News

Central Bank of the process of finalizing the draft raise three zeroes from the Iraqi dinar




Palm - The Central Bank of Iraq, on Tuesday, he is about to finish the project raise three zeroes from the currency, noting that the project is considered strategic, and submitted to the Council of Ministers and legislators if completed.

The central bank adviser said the appearance of Mohammed Saleh during permit media raising project three zeros from the dinar is a strategic project and the Central Bank is in the process of finalizing the project, the idea of ​​theory into practice, and is nearing completio

n, and submitted to the Council of Ministers and Deputies.

The benefit that this project will reduce the cost of transactions and reduces the carry cash, he said, adding that Iraq is on the verge of producing 6 to 12 million barrels of oil and this will impact on the development and raise the value of the Iraqi dinar.

The adviser to the Iraqi Central Bank said the bank has achieved three things during the last stage, as the first building reserves from zero to $ 50 billion, within the past five years, reduce the price of the basic inflation from 34% to 4 or 3%, and achieved stability in the Iraqi dinar exchange.

He was adviser to the CBI the appearance of Mohammed Saleh, said in an interview earlier the bank's readiness to delete the zeros of the Iraqi currency, pointing out that those zeros that are added to the Iraqi currency during the last period formed a cluster of large cash amounted to 27 trillion Iraqi dinars.

On the other hand, revealed adviser to the CBI, said Iraq enter for the first time a system of payments between banks has been the transition to electronic clearing away from the hand and entered into by the six banks and the exchange of instruments between banks electronically and will link the smart card and credit system with the Central Bank.

Continued by saying that the central bank would be three years after the so-called Council of the payments, which sets protocols and is the infrastructure of Iraq.

Previously, specialists Iraqis in the field of economics that played down the impact of the central bank to delete zeros from the currency the purchasing power of the Iraqi dinar, also hopes the government from behind the move, as the view of researchers that the cost of lifting of the zeroes will be the biggest of its usefulness, given that the currency's strength is measured by the stability of disbursement which is based on the strength of the productive sector can provide goods and services.

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Economic News

Iraq: the deletion of zeros from the Iraqi currency would overcome all the difficulties of economic


Palm - saw an MP for the Iraqi List, reproach the league that the process of deletion of zeros from the Iraqi currency to work through all the economic difficulties, especially after the case of hyper-inflation experienced by the country.

The league said in a press statement today: The announcement of the Iraqi Central Bank Governor for putting the final touches to the process of lifting the zeros from the currency is one of the things in support of the Iraqi economy and reduce inflation, currently exist.

The governor of the Central Bank came to the House of Representatives earlier and discussed with the deputies, the subject of the Iraqi economy and the deletion of zeros from the dinar.

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Citizen newspaper » News » Features


Raise three zeroes from the Iraqi currency, which exceeded the source of which 26 trillion dinars
On: Saturday 04/09/2011 15:12



One of the things were also mentioned in the economic file of the 2010 Iraq is the Iraqi currency and delete the three zeroes of them, has revealed the first expert at the CBI appearance of Dr. Mohamed Saleh said that Iraq's new currency will be conducted by a number of changes from the most important of which raise three zeroes of the aim of Tharigaha and raise their purchasing power, and the second is that they'll give new look by adding the Kurdish language of Arabic and English that were printed out.

The appearance of the draft Iraqi Currency Exchange is one of the most important strategic projects, which goes by the bank, but not in the near term, but on the horizons the medium and long term, Changing the currency is not things easy it must be preceded by a lot of preparation, such as access to the decision to switch.

Especially since the cluster experiencing inflation and the State is moving towards stability and thus the prospects for inflation endures reform policies that inflation and reforming the monetary system and currency, and inflation is suffering from inflation earlier rate of 50% and the mass of large cash and low purchasing power and here we must create equations instead of a large amount of money for a small amount of goods we are trying to reverse the equation a small amount of cash for purchasing power.

 
And between the bloc the Iraqi monetary currently exceeded the 29 trillion dinars and called securities transactional and can not remain trillions, but must Trchigaha through the deletion of zeros and here reduced to one third and Limbering is important for the withdrawal of inflation and the withdrawal of amounts of currency which does not affect the wages and purchasing power, or at any MM just trying to ease the burden withdrawal of this vast amount of paperwork, and the state and a stable economic order must resort to this policy is important in the currency of a prosperous and optimistic about a prosperous future for Iraq, and unfortunately there are who tries to return it back, but Iraq in spite of all the future for a prosperous future and in need of major repairs, fast and industry, monetary policy intervene in any matter it deems appropriate for the Iraqi economy, and we found that the cost of counting and sorting currently weighs staff and with the currency of grace does not require such efforts.

 
And on the variables of the new currency between they will appear new look including the lifting of three zeros from the dinar and returned to the same value in the eighties and also will enter the Kurdish language in addition to Arabic and English, this headquarters according to the constitution language Kurdish language official and sanctioned by the Constitution and is used in all official correspondence, and will be printing process solid very fine level and according to specifications of a very special and not subject to fraud and corruption and forgery.

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