Financial expert: the dinar to the economic stability needed to be a desirable out of Iraq

Wednesday 07/04/2012 12:10

Baghdad (news) .. Financial expert, attributed the beneficial Elias Abou, the cause of the unwillingness of countries in the world to deal with the Iraqi dinar exchange rate to fluctuate in front of hard currency and the absence of political and economic stability in the country.
He said Abbou (of the Agency news) on Wednesday: The monetary policy pursued by the central bank responsible for rejection of the regional countries and international dealing in Iraqi dinars, because they do not allow the exit of large amounts of local currency abroad and restricted passengers to take limited amounts of the dinar when traveling.

He added that the Central Bank of afraid to enter the counterfeit currency when allowing entry and exit of the Iraqi currency, but allowed to get out of the country will force countries to deal with and become internationally accepted and has a real value against other currencies.

And: that the Iraqi dinar needs political stability and economic and financial goal to diversify revenue and increase total production of the country and maintain its exchange rate against the dollar, foreign currency in order to become an international currency dinar desirable in all countries of the world.

Often complain of Iraqi pilgrims and travelers from non-treated countries in the world, especially neighboring countries in Iraqi currency abroad for fear of fraud or speculation, as well as the continued decline of the value of the dinar against the dollar. / Finished / 8. D. Q /

 

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New year .... A new currency

 

Iraq's new currency

Said a member of the Finance Committee of the Iraqi parliament that the new currency will enter circulation in the markets and will be taken a thousand dinars from the citizen for one dinar.

She Najiba Najib Albamrna member of the Finance Committee in the Iraqi parliament that the new currency will enter the circulation from the beginning of the year 2013 and will be removed Asfarha "and will enter the dinar metal and 50 dirhams and 25 dirhams market and will be replaced by the dinar per one thousand dinars, and will be the 25 thousand dinars to 25 dinars." .

It confirmed that the language "Kurdish, Arabic and English" will be on the currency will be charged images of the resorts and the deportation of the Kurds of Kurdistan, but the deal Faili old currency will continue for a period of two years from the issuance of new currency.

According to Najeeba "I have been diagnosed with a number of European companies and U.S. for the work of the new currency and to avoid fraud and will be approving the budget of 2013 on the basis of the new currency."

There have been changes to the post-2003 Iraqi currency are translated to 1000 dinar dinars were printed like the old currency.

After entering the circulation for nearly ten years face many of the economics profession, criticism to increase the zeroes on the currency and considered a reason for rise in prices in the markets and lack of appreciation of the currency of other countries, and decided to Parliament and the Central Bank of Iraq to change the currency to what it was without the zeros.

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Central Bank introduces a way to follow up the disbursement of funds abroad and to prevent smuggling

Thursday, 05/07/2012

Baghdad (news) .. Deputy Governor of the Central Bank of the appearance of Mohammed, the granting of banks licensed to sell hard currency the responsibility of checking foreign currency transferred abroad for treatment or travel or trade, to reduce the smuggling of hard currency.
Saleh said (of the Agency news) on Thursday: The central bank can not monitor all funds that come out of the country Vtm develop a way to follow up on how to spend money abroad by giving banks approved the sale of hard currency audit function by grading the banks and divided according to their capital.

He explained: The division of banks into four models according to their capital in order to compete with each other and also to know the amount of currency, which pumps it a week from the central bank, is required each bank to sell a limited amount of currency mismatch with a capital of more than (150) billion dinars, and banks with capital (150) billion dinars, and the other without (150) billion dinars, as well as Arab and foreign banks, each of which compel the merchant or traveler to open his adoption of a bank or convert a document in the bank trader with him for the money transfer him to the outside.

And he continued, as well as requiring customers two weeks after the conversion process brought detect particular foreign bank stating that currencies have been converted to a specific destination identified in the file transfer of credit to the bank for the purpose of knowledge of aspects of exchange abroad, and to curb the smuggling of currency or money laundering.

It is noteworthy that the central bank granting permission for (25) private banks to sell the dollar at the price determined by the process shall be conducted in accordance with the regulations and specific conditions, and gives each bank a week million and (250) thousand dollars, and the price fixed for the sale of the dollar by the Central (1179), while banks sell to citizens at the price (1189) to be the rate of profit for banks (10) dinars. / Finished / 8. d. Q /

 

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Member of Finance Committee: The new currency will be charged (36) security feature to prevent forgery

Thursday, 05/07/2012


 
Baghdad (news) .. A member of the Finance Committee MP / National Alliance / Haitham al-Jubouri, the existence of (36) feature in the new currency to ensure that no forgery.
Jubouri said (of the Agency news) on Thursday: There are a lot of specifications will have to (36) ensure that Amaknyh feature forged, while the currency in which the current (8) features.

He explained: that the categories that will be printed were distributed between the paper and will be the category of the (200) dinars, and the category of (110) dinars, and the (50) dinars, and the (25) dinars, the currency of small a coin expanded to the category of the dinar and a half dinar and quarter dinar and the ( 100) and the fils (50) and the fils (25) fils.

He pointed out: that the process involved in the switch Raau where all the national symbols in the northern, central and southern Iraq, which will obey on the back of paper currency and Kalmloah Orr and Erbil's citadel, and a waterfall on the Beck bridge connector.

Plans to the Central Bank of the deletion of zeros and switch the currency in the next year to reduce the size of the money supply, which warned of experts and government officials warned of a "mafia" is preparing to rig the trillions of Iraqi dinars and replace it in the light of the planned changes, while accusing the central bank government agencies to disrupt monetary reform and carry the responsibility of endanger the interests of the country's financial risk. / Finished / 3. d. Q /

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