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Economists Then Wonder The Government's Insistence On The Use Of Cash As A Penny !


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CNN. Broadcasting The Small Details Leading To BIGGER Things !

 

 

 

(by apmcrx)

Economists then wonder the government's insistence on the use of cash as a penny

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Economists expressed by experts from the province of Basra, their surprise at the insistence of the Iraqi government to use (penny) in cash as a unit of accounting receipts for most of the institutions and departments despite the fact that "penny" of the extinct trading three decades ago.
A professor of economics at the University of Basra , d. Nabil Marsoumy in an interview with Alsumaria News for, " The accounting receipts used by most government departments in Iraq , where the amounts columns are divided into two parts , one dinar and the other fils, which is surprising because the penny is no longer circulating for more than thirty years , " noting that " government accounting receipts remain unchanged reflects the extent of the failure of management thought, so that the hand of reform did not extend so far intuitive to simple details are handled thousands of times a day. "

Marsoumy pointed out that " the dirham , which enjoyed greater penny cash value is no longer used for a long time , " adding that "administrative leaders in the country if they are not able to change receipts and a small paper , how can develop the economy and achieve administrative reform."
For his part, President of the Iraqi Economists Association in Basra , Ali Alaill said in an interview with Alsumaria News for, " The world has come a long way in the application of electronic accounting systems and we are still use receipts and paper recognize fils cash as a unit , " adding that "addressing this gap does not require administrative genius nor financial allocations, but need only a simple guidance from the cabinet Secretariat to the ministries to delete a column from the penny receipts circles. "
Alaill pointed out that " the sons of the new generation do not know anything about the penny , except the old amateur currency collecting them."
The penny was one of cash categories traded in Iraq, and since the Ottoman era and even the extinction of trading was coining of copper to lower its value, it is the smallest unit of cash, and this afternoon is common ideals (not equal fils) to indicate the lack of importance of the thing, and during their occupation of Iraq period decided Englishmen in 1920 , the abolition of the penny trading with the rest of the units of the Ottoman currency, then work it back as a cash junior starting in 1932, and continued the penny in circulation until the early eighties, perhaps so far, at least in receipts and accounting records used by many government departments , including Directorates and municipal water Municipalities, education, traffic, communications and health.

http://www.alrassid.org/mobile.....p?id=18435

 

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Thank You, DinarThug, for the great article!

 

The question I have is, "Since the penny or fils is such a small monetary unit, why would they even be talking about it unless the Iraqi Government is intending to have a small monetary unit implemented?" A corresponding question is, "When does the Iraqi Government intend to have these small monetary units implemented?"

 

I am not sure this could happen in any way apart from issuing the Lower Denominations indicating an RV!!! :backflip:   :backflip:   :backflip:

 

Go Moola Nova!

:twothumbs: 

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14 minutes ago, DWS112 said:

 

Possibly, the Iraqi government wants to provide a global reserve currency, and a penny category is desired.

 

Great Point, DWS112! Thank You and I trust you are having a Great Day!

 

Go Moola Nova!

:twothumbs:

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Quote

For his part, President of the Iraqi Economists Association in Basra , Ali Alaill said in an interview with Alsumaria News for, " The world has come a long way in the application of electronic accounting systems and we are still use receipts and paper recognize fils cash as a unit ,

 

So the question is why is the GOI insistent on the use of a penny [fils] as cash?

 

The GOI is referring to "Fils" the lowest form of cash in the Iraqi monetary system, not a penny as we understand it, that's the Arablish... IMO it telegraphs the revalue... Come on Mosul!

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Thanks DT...This does prove Iraq did in fact stock pile coins (fils) for a reason...If Iraq is showing the fil...it stands to reason that there are more valuable coins stashed away for future release...These smaller coins would only compliment the lower denominational dinars...

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Thanks Thugs - this is a great article. I was curious if anyone knows when or where the photo of the side by side filswas originally taken or came from. The penny (lowest fil) could also make an impact on taxes mentioned recently in other articles, and is still the simplest means to make change for the indicative lower denoms. Go RV! (Please!!!) 

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IRAQ IRAQI COIN 1959 ABD AL KARIM QASIM ERA 1 Fils Bronze 

 

 

sr12.jpg?w=540&h=288 

Iraq 1 fil 1959

1959

 
 
COLLECTORS
In wishlists:
In collections:
CATALOGUE INFORMATION
Catawiki number: 2576263
Category: Coins
Title:
Iraq 1 fil 1959
Country: Iraq (Iraq)
Face value: 0,001 dinar (1 millim, 1 fils)
Year: 1959
Variety / overstrike:  
Era: Iraq - Republic (1958-present)
Head of State: Muhammad Najib Ar-Ruba'i of Iraq (1958-1963)
Type: Coin
Designer:  
Series:  
Theme:  
Material: Bronze
Gold- or silver content:  
Weight: 2.5
Diameter: 19
Thickness:  
Punch: Medal alignment
Shape: 10-sided (decagonal)
Obverse:  
Reverse:  
Edge: Plain
Privy mark:  
Mint mark:  
Number produced: 72.000.000
Krause and Mishler number: KM# 119
Catalogue number:  
Details:  
Submission date: 14-03-2012 16:59:27
Submitted by: Knolraap
Last updated on: 16-04-2017 22:54:05
Last updated by: Chilian
CATAWIKI CATALOGUE VALUE
PROOF:  
FDC/BU:  
MS (mint state/mint condition): € 1.00
EF (extremely fine): € 0.50
VF (very fine): € 0.25
F (fine): € 0.15
VG (Very Good):  
G (good):
 
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