Najib: Survey of selling the dollar in the Rasheed Bank will reduce the manipulation and fraud in the sale of hard currency

04/20/2013

BAGHDAD (Iba) .. A member of the Finance Committee praised the MP Najiba Najib, the decision of the Ministry of Finance to limit dollar selling in the Rasheed Bank only with strict conditions considering it as a step towards reducing the smuggling of hard currency and create a balance between the Iraqi dinar and the U.S. dollar.

Said Najib told the independent press (Iba) on Saturday, "said the move stems from the fear and the Ministry of Finance of the deterioration of the Iraqi currency and rising mafia smuggling hard currency to neighboring countries, stressing that" the continued high Sarabv dollar against the dinar payment of the Ministry of Finance, in coordination with the Central Bank by making Rasheed Bank main bank to sell the dollar and under specific conditions. "

He referred to "compel the citizen who wants to buy the dollar by highlighting the passport to make sure the actual need to buy the dollar and reduce manipulation to buy the dollar and sell it on the black market at high prices."

He continued, "The Finance Committee will host the central bank involved in the and specifically section of the auction and sell the currency, noting" there are some coordinators and Exploited Children to develop a troubled country of manipulating the sale and smuggling of currency outside the central bank. "

This instructed the Ministry of Finance to the Rasheed Bank to sell the dollar for the citizens of its headquarters and branch Shorja exclusively subject to specified conditions. (End)

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Banker: delete the zeros in the current period will help forgery and counterfeiting of currency

04/20/2013

BAGHDAD (Iba) .. Mark North Bank adviser Investment and Finance wholesome Elias Abbou, that the current period is not appropriate to start procedures to delete the three zeroes from the Iraqi currency.

He said Abbou told the independent press (Iba) "The process of deletion of zeros from the perspective of economic management process relies on how to control the deletion of zeros without imbalance between the monetary value of the previous and the new value, warning" from the disruption of purchasing power after the deletion of zeros and harm consumers first . "

"The replacement of the Iraqi currency restructuring measures in the current circumstances is correct and will lead to Antstreetmlah of counterfeiting and forgery as a result of the instability of the security situation, political and economic."

He Abbou "The interest of the deletion of zeros is the process by reducing the money supply only and you need a long time to define them as citizens and that the current circumstances is appropriate to start the process." (End)

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Member of the parliamentary economy: the new central bank administration succeeded with some financial matters and a lot of them failed to

20-04-2013

Baghdad (news) .. Student member of the Committee on the economy and investment MP / National Alliance / Abdulabas the Xiaa, the central bank adjust its policy towards the exchange rate of the dinar against the dollar, and tighter control on the sale of hard currency.
And said Xiaa (of the Agency news): The Directors of the Central Bank of the problem and the agency has succeeded to some things that pertain to monetary policy at the beginning of the receipt of the task, but failed in many of them did not stand the mafias some private banks and weak souls who aim usury.

He added: that a lot of things that pertain to the work of the central bank needs to be regulation, noting that the dollar exchange rate is still high compared to the dinar and currency smuggling and money laundering also still exist.

And called for the central bank to develop procedures to monitor banking operations and sale of foreign currency to curb smuggling, economic crimes and the stability of the exchange rate of the Iraqi dinar. / End / 8. N. R /

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Economist: World Trade Organization (WTO) will boost Iraq's relationship with the major industrialized countries

19-04-2013

Baghdad (news) .. He stressed the economic expert Ismail Radi, the need for Iraq sought to join the World Trade Organization because of its features help to support the economic sectors of the country, and convergence Iraq with the major developed countries.

Radi said (of the Agency news): The Iraqi Ministry of Trade required to complete the procedures related to Iraq's accession to the World Trade Organization to support the national economy, because it would boost trade exchanges and ensure receipt of goods is good for the country.

He added: countries that fall under the membership of the organization is one of the major industrialized nations in the world, such as Japan, China, Korea, England, Germany and others, and this is what will bring Iraq to those countries that will contribute to strengthening economic and trade relations with them.

It is noted that the World Trade Organization asked Iraq to complete the procedures necessary to obtain membership of the organization.

And established the World Trade Organization in 1995, and is one of the smallest organizations global age where the WTO is the successor to the General Agreement on Tariffs and Trade (GATT), which was established in the wake of World War II, and its primary objective is to assist in the flow and the flow of commerce بسلاسلة and freedom.

Include membership in the World Trade Organization more than 140 members representing more than 90% of world trade. / End / 8.'s. M /

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Economist: the need to conclude economic agreements with developed countries for the advancement of the national economy

19-04-2013

Baghdad (news) .. Economic expert called Jalil al-Rubaie, the need to conclude trade and economic agreements with the advanced industrial countries to gain experience and activating sectors and reduce reliance on oil revenues.

Rubaie said (of the Agency news): The Iraqi economy is still at a rate dependent almost entirely on the revenues generated from oil sales, due to the negligence and stopped vital sectors Kalzeraih the industrial and tourism.

He added: that the conclusion of economic and trade agreements with developed countries in terms of economic gain experience and bring investment companies to work in Iraq will be able to promote the national economy in various sectors, and the country's transition from the consumer to the product.

He pointed out, that most of the economic agreements entered into by the Federal Government with the remaining countries without activating just ink on paper, calling to activate all previous agreements and to conclude new agreements in order to create a great economic revolution in the country. / End / 8. N. R /

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Najib: the restructuring of the currency would help in reviving the Iraqi economy

04/17/2013

BAGHDAD / Raghad Doham

Confirmed a member of the Finance Committee in the Iraqi Parliament Najiba Najib that "restructuring of the Iraqi currency is an urgent need in the form that is in harmony with the size of the budgets of the country and the amounts received by the state, so it is important to be adopted currencies metal with small groups and others with large groups such as the" 20 "1050 thousand Iraqi Adinar the. "adding that" structural re-used financial and Tistaad policy to revive the economy of the country. "

Najib said that "these prefectures with large category will help traders and Iraqi businessmen dealing in Iraqi dinars instead for asylum to the U.S. dollar to the difficulty of the transfer of the amount of Iraq."


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Abdulabas Xiaa: Central bank to develop procedures to prevent fraud at the currency exchange after deleting three zeros of them

17-04-2013

Baghdad (news) .. A member of the Committee on the economy and investment MP / National Alliance / Abdulabas the Xiaa date for the implementation of the project to delete the three zeroes from the currency earlier this year (2014), stressing that the central bank measures that will limit fraud and manipulation that may accompany the process of replacing the currency.

He said Xiaa (of the Agency news): The project to ايعد delete the zeros of the three from the Iraqi currency only, but re-structuring currency in terms of reduction of banknotes, noting that the highest category of paper will be (200) dinars, which is shorthand for the $ (200) thousand dinars, equivalent (170) dollars.

He added: that the central bank will begin its procedures proactive implementation of the project during the current year Ktba currency and contracting with companies to be after the process of replacing the currency in early next year, pointing out that the central bank put strict measures to prevent fraud that may accompany the replacement process.

He pointed out: that the country needs to restructure the project after the currency to delete the three zeroes from being on the verge of an expected increase in fiscal revenue in the coming years This figures Sechtzel and banknotes.

He explained: that the project will include Coins & Stamps, and consists of categories (half JD, JD, JD 5, 10 dinars, 25 dinars, 50 dinars, 100 dinars, 200 dinars), so that the employee if his salary million Vestelm thousand dinars, ie five categories of paper from the category of ( 200) dinars, stressing that this process will facilitate a lot of financial and monetary matters. / End / 8.'s. m /

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