Central Bank currency exchange will reduce the risk of errors accounting system

Sunday, July 15, 2012

BAGHDAD / JD / .. Central Bank of Iraq confirmed that the process of printing a new currency with the deletion of three zeros will cost the state less money sad re-sustain damage because of the current currency and economic expansion, noting that the new edition will reduce the risk of errors accounting system. The deputy governor of the Central Bank of Iraq the appearance of Mohammed Saleh told / JD / that "printing the new currency would cost the state large sums of money but the fact that the current currency and because of the high value and liquidity will cost the state more simply by typing denominations themselves of the same coin because of the damage and the expansion of the economy." "The cost of the current more because when replacement will be the categories of large Vtakhtsr Cache We have now 4 billion securities traded out of 34 Tleraon amount of cash if exported large groups 50 dinars and 100 dinars and 200 dinars, equivalent to 200 thousand dinars, the 4 billion banknotes and shorten billion of which to one billion and a half billion of these banknotes Falclfah be relatively less at the same time shortened (Cache) Cash too ".. He added that "there is also a shortcut numbers The country is dealing with (10 S-12) a trillion, but when replacement deletion of the country will deal with 10 S-9, and this is a big difference, explaining that the switch will reduce the risk of currency accounting system errors. / Finished / P N / A

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Kuwait newspapers highlight the UN report on the significant improvement in relations Kuwait - Iraq

Sunday, July 15, 2012

Highlighted Newspapers Kuwait on Sunday paragraphs of the report of the Secretary-General of the United Nations Ban Ki-moon on Iraq to the Security Council in which he referred to his satisfaction with the progress made ​​in bilateral relations, Kuwait - Iraq, calling on both countries to maintain this momentum and seize the opportunity to resolve all outstanding issues and the normalization of relations between them in full.

Newspapers quoted Ban Ki-moon, he said in a report to the Security Council yesterday on the work of the United Nations mission to help Iraq (UNAMI) said bilateral relations between Kuwait and Iraq «has seen a significant improvement» during the last four months during which the establishment of a joint committee to manage the navigation in the waterways involved in Khor Abdullah.

Focused on the al-Qabas newspaper said the secretary-general, "said the two sides agreed to take the necessary measures to maintain their common border and enhance common security, noting that Kuwait will open consulates also in the provinces of Basra and Erbil.

The Secretary-General of the United Nations to both sides called on the United Nations jointly to begin maintenance work for the maintenance project marks the border between Kuwait and Iraq by the 31 of October next, taking into account to meet the parties to the conditions essential to begin maintenance work in the field.

The paper went on to say that Ban Ki-moon pledged continued United Nations support the efforts of both sides that deserve praise for the maintenance project marks the border in a fast and flexible.

According to the newspaper, the Secretary-General pointed out that the Security Council endorsed the recommendation made ​​by last June to begin the two sides of Iraq and Kuwait to explore other arrangements to promote and ensure the continuity of cooperation in the search for missing persons and property, including the Kuwaiti archives.

At the same, Al Qabas reported, citing the report, Ban Ki-moon stressed that the United Nations remains committed to providing all the necessary support to facilitate the withdrawal of Iraq from its obligations under Chapter VII of the Charter of the United Nations, including the work of the Coordinator of the High-level for Kuwaiti prisoners and Kuwaiti property Gennady Tarasov . / End

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Experts: purchasing power of the citizen will weaken in Ramadan .. And the central bank plan for the possibility of low exchange rate of the dinar

 Sun 07/15/2012

Baghdad (news) / report / Faleh Hussein / .. Preoccupation with market traders and how to turn a profit in the near month of Ramadan, it is likely experts and Vice-low purchasing power of the citizen by the expected increase in food prices is not equivalent to the daily income.
They warned of the low exchange rate of the dinar significantly in Ramadan, because of confusion happening in the local market and the potential for high rates of inflation, but the face of these possibilities put the central bank plan to preserve the value of the dinar, which was sent to the Economic Committee in the Council of Ministers for approval to be effective.

In this regard, said a member of the Finance Committee MP / National Alliance / Faleh force (of the Agency news): The Central Bank may take into consideration the low exchange rate of the dinar against the dollar during the month of Ramadan, he put a financial plan will reduce the gravity of that in the event of approval.

He stressed: that the promises of the Ministry of Commerce to distribute a share with a full additional materials in Ramadan did not affect the prices that Ststar, adding that the ministry had not died on its promises so far.

For his part, most likely, an economist reconcile inhibitor for weakness in the purchasing power of the citizen during the month of Ramadan due to increased prices in the domestic market, which is disproportionate to his monthly income.

The inhibitor (agency news): The Iraq did not possess a system (quota), which cause upheaval in the economic process and trade in the country.

And (quota) in the trading system means that there is a specific price ceiling imposed by the government to merchants and shop owners and requiring them to sell goods and materials at the price specified under any circumstances.

He added that price increases will also affect the local currency by increasing the demand for the dollar and make the exchange rate volatile, especially since the dinar is currently experiencing a decline against the dollar.

The expert proposed solution and the Ministry of Commerce and the delivery of business processes, especially the ration card file for the private sector in order that his functions, creating a competitive atmosphere in the local markets, by providing materials needed by the citizen to it and at competitive prices.

For his part, member of the Economic Commission for MP / coalition in Iraq / Qusay Friday: that an increase in prices in the month of Ramadan is normal in light of the growing demand for the purchase of this without the rest of the months.

Juma said (of the Agency news): It is assumed that the Ministry of Commerce to provide all the ration card items in order to make stable prices in the domestic market, because the price increase will affect directly on the citizen, especially those with limited income.

He predicted the survival of the dinar exchange rate steady against the dollar during the month of Ramadan.

For Member of the economy and investment MP / National Alliance / Resan Abdul-Hussein, he criticized the absence of plans and preparations for the Ministry of Commerce to receive the holy month of Ramadan.

Husseini said in a statement earlier received the Agency (news) copy of it: that food prices in the market began to rise with the approach of the holy month, since there is a growing demand from citizens before, criticizing the lack of plans of the Ministry of Commerce in this regard.

Resan and wondered: Do you think the ministry of Iraqi citizens as possible to be content to distribute five kilograms flour zero for each family and a half kilo basmati rice first degree and a quarter kilo lentils every citizen during the month of Ramadan in the country of its budget $ 100 billion?.

The new member of the Economic Committee: confirmation that there is no mechanism to control the rising food prices before the holy month of Ramadan.

It is noted that the provision of the ration card items are full of Iraqi consumers become problematic after 2003, and reduced vocabulary

Despite the high incidence of poverty and unemployment, and refers to official statistics, there are seven million Iraqis under the poverty line, failed efforts to the implementation of decision to reduce the ration materials, and only the concerned authorities, particularly the Ministry of Commerce certainly that the decision of the reduction came for reasons of policy approved by the House of Representatives and entered the Department of Commerce a. / Finished / 8. d. Q /

 

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Deputy for Iraq: The meeting between Maliki and Najafi .. and will ease the political crisis of the fuse

 Sun 07/15/2012

Baghdad (news) .. most likely MP / coalition in Iraq / Hassan Salman and Hap, to witness the political process in the coming days, easing the crisis, in addition to a meeting between Prime Minister and Chairman of the House of Representatives, calling for the National Alliance to provide guarantees for the implementation of the reform paper.
He said Wahab said in a statement (of the Agency news) on Sunday: there is no interruption between Prime Minister Nuri al-Maliki and Parliament Speaker Osama al because they represent two of the most important three powers (executive and legislative), so it is expected that there will be a meeting brings them together in order to ease the problems and service of the people.

He added that all political parties sit down at one table for something a civilized dialogue does not mean surrender or submit to any of the parties and political blocs, but sit at the table of dialogue, defuse the crisis will ease.

And the MP for the coalition in Iraq: the National Alliance presented a paper reforms acceptable to all the political blocs and the guarantees for the implementation of that paper, the political process will go for a solution.
Political scene is still dominated by the policy of counter-action and reaction, and in light of growing concern checks on policy differences, which affect the security situation in the country. / Finished / 2. N. R /

 

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Habib Terminal: Convention Erbil will be among paper reform

 Sun 07/15/2012

Baghdad (news) .. According to a member bloc MP for the Citizen / National Alliance / Habib Terminal, that the terms of the Erbil will be among paper reforms to be provided by the National Alliance after the examination is "extensive."
The terminal in a statement (of the Agency news) on Sunday: The Paper reforms to be provided by the National Alliance include the terms of the Erbil and agreements entered into and that are in line with the Constitution or by the agreement between the political blocs.

He added that this paper will be presented to all the political blocs to dialogue in its terms and the issuance of an agenda and a clear diagnosis of all the negatives that hinder the political process to be successful, a paper prepared by everyone to resolve the outstanding problems.

The MP pointed out to the mass of citizens: that the paper would be presented to other political blocs after they are studied "extensively" in order to not be like its predecessor step does not succeed.

He was a member State of Law coalition MP / National Alliance / Shaker Darraji, revealed political meetings take place between the political parties are undeclared to create the holding of meetings on the reform paper prepared by the Alliance to get out of the current political situation.

Daraji said in an earlier statement (the news): The initiative of the National Alliance, represented by political reform includes reform of state institutions and solve political problems, indicating the following: that the repair mechanisms dependent on the consultations of the political blocs to agree upon / Finished / 2. For. M /

 

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Vice Kordstani: Paper to be presented by the reform of the National Alliance expresses his point of view

 Sun 07/15/2012

Baghdad (news) .. MP for / Kurdish coalition blocs / Azad Abu Bakr Zainal, that the paper of reform to be provided by the National Alliance reflect the view of the alliance only, pointing to the lack of feasibility of the formation of committees, but the implementation of the Arbil according to the constitution will solve the current crisis .
He said Zainal in a statement (of the Agency news) on Sunday: Each political bloc constitutional requirements, legal and there is no Tand or personal animosity with the state law but because of procrastination in the implementation of agreements already become the blocks do not trust the rule of law and does not see a point to sit with them.

He added that the reform paper which will be provided by the National Alliance reflect the view of the alliance only and does not reflect the view of the political blocs, pointing out that there are statements from the National Alliance indicate that the paper includes (70) points.

And: We do not need to form committees and the application of such numbers of points, but can solve all the problems to return to the terms of Arbil on which government was formed.

Earlier, I consider the State of Law coalition member MP / National Alliance / Adnan Mayahi, a paper prepared by the Reform Alliance Introduction to hold a national conference which will solve political problems.

He said Mayahi (the news): The reform paper prepared by the National Alliance of all the problems between the federal government and the Kurdistan Region as well as problems of the political blocs of the Constitution and legislative issues and the laws broken and the performance of government. / Finished / 2. N. R /

 

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Central Bank speculative cost of the project to delete the zeros up to 172 billion dinars

Saturday 14/07/2012

BAGHDAD / JD / .. the Iraqi Central Bank estimated cost speculative project to delete the zeros from the currency up to 172 billion dinars .. The study by a private project delete the zeros received / JD / copy: The total cost of speculative to project the deletion of zeros up to a hundred and seventy-two billion dinars, ".. the bank said in his 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 companies .. He added that "the cost of speculative Stamping coins of the new currency of (16) billion dinars," the bank .. He continued, "The wages of cargo , Fridays and official holidays, overtime, etc. .. of (15) billion dinars ".. He pointed out that the cost of the media campaign and the costs of different limits (1) billion dinars, the bank .. and recalled the cost of the replacement process for the period from 15/10/2003 to 15 / 4/2004 amounted to the wages of the printing and transfer of currency to (240) dinars, and wages of minting coins up to (16) billion dinars, and a ring of total costs allocated to the banks amounted to (13) billion dinars. and attributed the bank the reasons for the deletion of zeros for three reasons First, the process Delete the zeros will be an opportunity to add new features 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 (public institutions) as a result of low or no cases of fraud .. He pointed out that the second reason that the process of removing zeros will to reduce Alokiem digital currency and financial Almahacbah and may reduce the role of 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 banknotes were printed large categories ".. He said the third reason Vankh enhances the possibility of maintaining the Iraqi dinar exchange rate against foreign currencies gained the confidence of its customers. The central bank has decided to adopt some of the features and pictures to be developed on the new currency after deletion of zeros .. And obtained by / JD / a copy of the book's central bank, which included the historical and cultural landmarks and images to be placed on the implications of the currency close to the mentality of the Iraqi public and culture .. According to the authors included a paper currency a number of monuments and pictures the most important, put a picture to bridge the imams and the magnitude of the significance of high-value if it reaches the bridge between both sides of the River Tigris and the terminal Mrakadi Imams Musa al-Kazim (AS) and Abu Hanifa (ra) .. The book entitled the bank to the Directorate General for the issuance and cabinets: This is dedicated to the highest class of the new currency a category (200) two hundred dinars and the dinars on the back of this paper and put a picture of the Baghdad school .. He said the central bank: put on the face of the category (100) dinars, hundred dinars, pictures of Azwaip area in Baghdad, one of the areas which was set up by the ancient suspension bridge, one of the achievements of the Iraqi state .. Iraq is one of the leading countries in the establishment of this type of bridges, shown in the image building of the Iraqi Central Bank, in addition to the building of the University of Baghdad, is the oldest scientific institution in Iraq in the second half of the twentieth century, while placed on the back of the paper image (ziggurat), one of the features of construction Iraq at the dawn of history .. According to the book's central bank: put on the face of the paper of class (50) JD (fifty dinars) image of the King Codaa one of the most kings of the dynasty of Lagash II (King XII), a God of growth and fertility, while the back of the paper have included a picture of Fort Ukhaydir a Fort archaeological its construction dates back to the Abbasid era forts and defensive unique in a deserted area, such as those constructed in which this fort is located to the south-west of the city of Karbala .. The central bank said: that in the face of the banknote (25) dinars (twenty five dinars) was developed, the image of King Hammurabi receiving the law .. This is the spiritual father of the King humanitarian legislation, as written in the custody of the rules governing the life and transactions in the famous Mselth either the back of the paper have included a picture of a peasant of Iraqi Kurdistan with the help of men in the preparation of the field of agriculture .. He said the central bank: put on the face of the banknote (10) dinars (ten dinars), a dinar, the Arab-Muslim This is a dinar, which was minted in the reign of the Umayyad dynasty beginning of the circulation of money in the Islamic state, which hit the inside and one features of the state and its sovereignty and economic independence, The back of the paper has developed a picture of the lighthouse Hadba in Mosul, one of the landmark development of excellence in our beloved Iraq .. Either category (5) dinars (five dinars) was placed on the face of her paper image of a waterfall entirely on Beck in Kurdistan Iraq, a reference to the state's interest in water and its sources in addition to the interest in tourism and the environment either the back of the paper has developed a picture of a palm Iraq, a sign of a property for each land black from southern Iraq to the north and to honor the (aunt Palm), said Mustafa (peace be upon him) and the central bank said in writing: in line with the best applications and international experiences, he decided to stop the basic parameters of the currency notes of the categories (25000,10000,5000) JD Traded to the road as it is in the new series (25,10,5) dinars to enable the audience with her as a thousand imprinted in his memory. The bank was keen to choose the designs of the coins are the generality and comprehensiveness of significance, and have a positive impact on all the people of Iraq, where he put on the aspects of coins map of Iraq and highlights where the Tigris and the Euphrates, and the center of the map a circular area to install the coin mineral, while the other side of coins have included, first class (2) JD's image (the Monastery of Saint Matthew), a historical site and my soul is located in the north of Iraq, and taken by the Iraqis of different sects and religions shrine to seek blessings and tourism. Included in category (1) BD image and reality are inspired from the displacement of Kurds Faili designed and prepared the Ministry of Culture. Has been developed on the category (500) fils image to fill a modern on the River Euphrates, and was intended to highlight the importance of water and means of storage and organization in Iraq, and on the category (250) fils putting pictures to fill Kut on the Tigris River, for the same purpose, and put on a category (100 fils), a picture of a lion Babylon, symbol of the power and vigor of the nation of Iraq. and put on a class (50) fils a picture of the palm, the symbol of Mesopotamia. and class (25) fils put a picture of the Ishtar Gate in memory of great Iraqis. / Finished / 11 n

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