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Showing results for tags 'deletion of zeros after ramadan'.
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another site Intel Report (ACIR) 04/18/2018 In the course of the next few months you may quite possibly see media reporting about a delete the zeros project. According to the intel I have, as well as info I received today from a banker, the delete the zeros project is going to be progressing at a much faster pace, and word has it that new information will be published after Ramadan. In February 2012, the Central Bank of Iraq (CBI) circulated reports to the Baghdad media that they were going to introduce three new banknotes. They were reported as follows; the 50, 100, and 200 Iraqi dinar currency. The reports also made mention of coins however, coins are not very popular with the Iraqi’s. So, who can tell, it may or may not happen with the coins. Everything from this point on is riding on the upcoming national and local elections (May 12). There appears to be a vast more supporters than not for the delete the zero’s project. The CBI would like to gain control and lower the inflation and boost the economy. At least that is their intention. The company that will be printing the new bank notes has already been selected, the authorization is the only delay in moving forward with the print. You may see some action possibly after the elections, depending on which party has control of the government. The Iraqi parliament will have to vote on the delete the zeros project given that they did not get the opportunity in 2012. The Iraqi cabinet stopped it because they believed the economic climate was not yet ready. The GOI has had concerns about the mafia gangs inside Iraq that are taking advantage of the situation. But that’s a whole separate issue they need to tackle. Oil prices are continuing to go up and businesses are returning although cautiously and investing in startups and existing companies. You will learn of the delete the zeros project getting ready to be implemented when you read that there is an education campaign going on inside Iraq. The education campaign will consist of news media, flyers, and radio advertising to get the word out. The CBI wants to make sure that everyone is informed about the delete the zeros project. The banking system in Iraq is not up to par with 21stcentury banking standards. There is a plan in place to modernize the banking. The CBI does not care to see the Islamic banks outperforming the other banks. The counterfeit dinar problem continues to be an issue. In Iraq, every bank manager turns in all of the counterfeit notes that he encounters from his depositors each week to the Central Bank of Iraq (CBI). The bank is rewarded for this and receives a credit from the CBI.
