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Economic parliamentary process rejects the deletion of zeros from currency


yota691
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Economic parliamentary process rejects the deletion of zeros from currency

Tuesday, 21 October 1 / Okrudolf 2014 20:32

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[baghdad where]

Rejected the parliamentary Economic Committee, on Tuesday, the process of deletion of zeros from the currency.

She said Committee member and MP Kazem Wafa told all of Iraq [where], that "the situation of the country is poised to hold the deletion of zeros," pointing out that "the central bank governor Ali Alak told us that in the immediate deletion process will be in 2016. "

She explained that "the central bank issued a few days ago, a class of ten thousand dinars currency is the currency of synthesis of good and difficult to counterfeit."

The Council of Ministers decided in the previous April 10, 2013 wait in the application process of deletion of zeros from the national currency until further notice after deciding to apply earlier.

The officials at the central bank, in addition to some politicians and economists, urged the government to delete the zeros from the currency, and the issuance of a new currency denominations large cash, in addition to having Coins Sgarh.anthy 2

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wellllllll   !!!!!   that  photo  tells  a 1000 words !    lop  those  zeros off the  notes  :angry:     no wait ,  we  changed  our  minds ,  we  do not  like  this idea ,   no wait  we changed our minds  again ,  no wait     :soon:


from  the photo  ,  this looks like  take zero`s off notes  and raise the  values  after the fact ...........  25,000  will be  a  25  note ,  just to make it easier  to  carry  it around ,  with out the zero`s  it will be lighter ................. 

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The officials at the central bank, in addition to some politicians and economists, urged the government to delete the zeros from the currency, and the issuance of a new currency denominations large cash, in addition to having Coins

 

but the rest are saying this. What I like is that they are talking coins "in addition to having Coins".

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Economic Commission: to delete the zeros will be implemented over the next five years


22/10/2014

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BAGHDAD / JD / .. excluded the parliamentary Economic Committee, the application of the project to delete the three zeroes from the currency early next year in 2015, while suggesting it had agreed with the Central Bank to implement the project over the next five years.
Said committee member Nora told Albjara / JD /: that "its Committee met with the Governor of the Central Bank and the Agency on the Keywords and discussed with him the most important issues related to the monetary policy of the country, including the project to delete the three zeroes from the currency."
She added: "The Governor of the Central Bank and the Agency confirmed that the project to delete the zeros is ready technically and logistically and waiting for the right time to implement it," noting that "he was supposed to be applied to the project since 2013 and until 2016, but the security conditions and the economic situation is stable led to the identification another period by the central bank to be applied starting from 2015 up to 2020. "
Albjara ruled out, the application of the project in the next year and even the years 2016 and 2017, due to the lack of appropriate conditions for the application of such a large project.
And was a member of the parliamentary Economic Committee Abdul Salam al-Maliki pointed out earlier that the central bank will begin to apply the project early next year 2015 / Finished / 8 /


Read more: http://dinarvets.com/forums/index.php?/topic/189240-economic-commission-to-delete-the-zeros-will-be-implemented-over-the-next-five-years/#ixzz3Grlveaz3

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OH, that's right, we have a new governor, so it will be another opinion and analysis.    OH brother, I see the remnants of the maliki goi.   This was set in motion and no new laws were needed just approval by parliament back in 2012.  So all this is redundant to hear them beating the dead horse.  We still sit on the notion that HCL, securities of deposits, economic reforms, and security in the country all ride on the value of the currency.  So, for me, I wait and let the rhetoric roll. 

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Shabibi often cited how deleting the zeros  would ease transactions and avoid costly errors.  Obviously those three zeros cause many accounting errors.

Mistakes are  bound to happen more often when counting in millions and billions and even trillions every day.

 

Thats one big abacus

Edited by SocalDinar
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Over the next five years could mean a float. Wherein the value will rise over time and as the value goes up, the zero notes will gradually be pulled from the marketplace.

I'll have to admit, that thought did cross my mind when I read it. I wasn't going to say it though. We could only hope!

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Over the next five years could mean a float. Wherein the value will rise over time and as the value goes up, the zero notes will gradually be pulled from the marketplace.

 I also feel this is the case................I believe much of this mis-info is there final attempt to get as many as possible to sell out............notice all the new banner ads for folks wishing to buy your currency back...........i don't remember those type of ads untill recently..........before  all the ads were just for selling dinar.

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Economic parliamentary: the deletion of zeros will begin work next year, specialists advise applying the deletion of zeros instead of issuing currency large classes

22/10/2014: | Number of readings: 68
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Preparation / economics editor

Commission announced the economy and investment parliamentary, that, the deletion of zeros from the currency will be in the next year, confirming that it was hosted by the Governor of the Central Bank on the Keywords to discuss the file to delete the zeros and the fight against money laundering crimes. The committee member said Jawad al-Bolani, during a press conference at the parliament building with members of the Economic Committee that "the things that are discussed within the Committee, are stocks traded for the mass of cash was responsible central bank, as well as laws that help to develop the work of the Central Bank, which will be legislation includes Law Central Bank, banks and money laundering law. " For his part, says economic expert Dargham Muhammad Ali in a press statement: that the application of the restructuring of the currency after deleting three zeros which is a necessity in light of inflation digital transfer of Iraq's budget Alumblyaria to Altrliunah, and these figures are not commensurate with the value of the Iraqi budget and size, there is no no justification for issuing coins with large groups of perhaps will cause problems Aqtsadah.oadav Muhammad Ali: The project to delete the three zeroes involves finding values ​​less than currently in circulation that does not solve the crisis of the Iraqi currency flabby digitally, which poses a scenario deletion of zeros balanced scenario in light of the stability of the currency. He continued that in the event of a fear can increase the transition period for trading currencies new and old together, either to find alternatives to this project, such as the issuance of currencies with large groups or small metal they are partial solutions and prosthesis and circumvention of the small by the big problem. For his part, said economic expert Majid picture in an interview: The Central Bank of Iraq in agreement with the Ministry of Finance presented the studies necessary for the process of deletion of zeros since 2008 and has taken all actions relating to the restructuring of the Iraqi currency, including the design of the currency and denomination and the quality of paper used her, who confirmed that from the finest stainless paper cash or difficulty rigged. He added that the executive branch has decided to postpone the process of restructuring of the Iraqi currency has led to the cessation of all actions related to this project, explaining that the aim of the process of restructuring is to reduce the cost of handling and facilitate transactions handled especially medium and large as well as to facilitate the draw pricing policy in the country. He stressed the need to accompany the process a package of measures distributed responsibility on all departments and state institutions and banks in order to develop solutions to the problems and obstacles that can arise during the process of restructuring, including cash, and accounting, and security as well as take the necessary measures to destroy the currency received Almgheih.oahar that experience in Iraq to replace the currency in 2003 was very rich, but did not exceed only change the shape of the currency and replace it, so it did not need to accounting requirements or legal, calling for the need to educate departments, banks and citizens feasibility of restructuring the currency, as well as the use of modern technologies to detect fraud, also called non- the intervention of politicians and subjecting such decisions to Mazidat and political skirmishes, because that is not in the interest of monetary policy and the Iraqi economy. It said the financial expert Thamer Alheimus: The most prominent benefits of the deletion of zeros is to create flexibility and ease of trading, and gave the example that in the case of activation of the decision will be minted coins to the values ​​of small Kkhmsin fils or less, and under that will highlight the prices between the fourth dinars and 1 / 2 dinars or less, and thus would be unlikely in a large increase in the value of the Iraqi dinar against the dollar in the case of Sir prudent monetary policy according to which it will contribute to improving the access of families and low-income social strata.                                         

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