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The central bank issues a decision to cover the market need of small monetary categories


yota691
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Editor Hossam Al - Khafaji - Thursday 19 April
 
 
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Alsumaria News / Baghdad 
The Central Bank of Iraq, that the banknotes damaged due to burning or burial underground or any other reason provided to him and his branches exclusively. 

The central bank says in a statement, that in the event can not be counting banknotes damaged for any reason they are presented to the discretion of the Committee of cash for securities damaged at the center or branch to verify the authenticity and appreciation of the value according to the mechanism: 

First , support from the Directorate of Civil Defense or Center The police or the Supreme Judicial Council in respect of burnt banknotes exceeding one million dinars, in addition to providing proof of the source of funds in respect of large amounts in excess of 10 million dinars.

 

 


Second: - procuring the bank will be 5% of the banknotes damaged in favor of the value, "discretion The Committee shall issue a decision within five working days from the date of receipt of the banknotes discretion of the Committee in the section headed by the Director General. 

Third: - be offset net banknotes damaged estimated by the Commission to The maximum amount of 25 million dinars within the authority of the Director General for issuing and treasuries and more than that is the competence of the Governor of the Central Bank, in addition to that the estimated value of banknotes damaged up to 5 million within the authority of the Director General of the branch and further raises the Central Bank "Center" without Examination process of the branch.

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4 hours ago, Laid Back said:

Information campaign to the citizens..... Looks like the CBI is ready to start swapping large denomination notes for lower 

denomination notes..

 

Go CBI

Go swapping

Go RV

Go purchasing power

 

I like the thought process LB , the banks will get fined heavily trying to pass on fake notes as they have up to this time , which in turn adds another layer of security to the bank / currency which may allow for them to proceed to that " Suitable Environment "  to start the currency projects .... how'd i do on deciphering and readin between the lines ....... :ph34r:

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6 hours ago, 3n1 said:

 

I like the thought process LB , the banks will get fined heavily trying to pass on fake notes as they have up to this time , which in turn adds another layer of security to the bank / currency which may allow for them to proceed to that " Suitable Environment "  to start the currency projects .... how'd i do on deciphering and readin between the lines ....... :ph34r:

Thanks 3n1, you are doing a great job deciphering and reading between the lines.:twothumbs:

Go CBI

Go $1:1

 

 

 

 

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Saturday 21 April
 
 
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Alsumaria News / Baghdad
The Central Bank of Iraq refused on Saturday to distinguish between categories of banknotes, considering discrimination a legal violation. 

The Central Bank said in a statement received by Alsumaria News a copy of it, "Iraqi banknotes homogeneous in various categories and the power of absolute absolutism and are accepted by the Central Bank and its branches, banks, institutions and the public." 

"The distinction between categories by imposing a certain category on the public or refusing to accept a certain category is unacceptable and is contrary to law," the central bank said.

 

 


The current Iraqi currency consists of seven categories: 250 dinars, 500 dinars, 1000 dinars, 5,000 dinars, 10,000 dinars, 25,000 dinars and 50,000 dinars, and the coins were withdrawn by the bank for non circulation by the public.

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  • yota691 changed the title to The Central Bank refuses to distinguish between categories of banknotes and prepares a legal violation

Central Bank: The distinction between categories of banknotes is a legal offense

 

 From 2018-04-21 at 13:49 (Baghdad time)

%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9

Baghdad - Mawazine News

The Central Bank of Iraq refused on Saturday to distinguish between categories of banknotes, considering discrimination a legal offense.

"We reject the distinction between the categories of banknotes because they are homogeneous in all categories and have absolute power of divorce and are accepted by the central bank and its branches, banks, institutions and the public," the central bank said in a statement received by Mawazine News.

"The distinction between categories by imposing a certain category on the public or refusing to accept a certain category is unacceptable and is contrary to the law."

 

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Yahooo...of course it is illegal not to accept despite how bad the conditions these bad notes are..and it is punishable by fines for those companies that do not accept such banknotes at such conditions because they are legal tender, with the exception, of course if such bad notes are counterfeits. Smiley...

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31 minutes ago, navira45 said:

Yahooo...of course it is illegal not to accept despite how bad the conditions these bad notes are..and it is punishable by fines for those companies that do not accept such banknotes at such conditions because they are legal tender, with the exception, of course if such bad notes are counterfeits. Smiley...

Good,

 

I recently been retrieving my Dinar from the septic tank..... things had gotten tight and my family began using the pretty paper as TP in a pinch.... we started with the 1000 note category and had gotten to about the 10,000 series...... I still have the 25,000 in pretty pristine shape..... I figured if it ever did RV it would be nice to have a few unsoiled notes to impress the local bankers with before I start unloading the used stinky notes on em’   

 

Glad to hear Iraq won’t discrimate against em either!  😜

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110885.jpg?width=750&&height=375
 
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Central refuses to distinguish between categories of banknotes

 

 

BAGHDAD / MESSALA: The Central Bank of Iraq refused on Saturday, 21 April 2018, to distinguish between categories of banknotes, considering discrimination a legal offense.

The central bank said in a statement to the "obelisk" that "Iraqi banknotes are homogeneous in all categories and have absolute power of absolutism and are accepted by the Central Bank and its branches, banks, institutions and the public."

"The distinction between categories by imposing a certain category on the public or refusing to accept a certain category is unacceptable and is contrary to law," the central bank said.

The current Iraqi currency consists of seven categories: 250 dinars, 500 dinars, 1000 dinars, 5,000 dinars, 10,000 dinars, 25,000 dinars and 50,000 dinars, and the coins were withdrawn by the bank for non circulation by the public.

Follow the obelisk

http://almasalah.com/ar/news/134233/المركزي-يرفض-التمييز-بين-فئات-الاوراق-النقدية

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5 hours ago, yota691 said:

and the coins were withdrawn by the bank for non circulation by the public.

.. kinda true the coins were worth more melted down which is what the people were doing so yup i guess one could say there was a lack of circulation but probably to many melting pots ....  i hope this is part of the public service information bulletin campaign to prime the pump for a allocated time period to not fear bringing notes into the banks ... # authentic guru gibberish :bananacamel:   

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4 hours ago, navira45 said:

I would like to add also that this statement(s) made by the CBI is a forewarning and addtionally part of an education process before exchanges hit the public.

totally agree with you my friend.

 

Shabibi was really specific about the education campaign to the citizens before any move by the CBI.... We have seen many articles informing the citizens about it.

 

Go CBI

Go education campaign 

Go legal tenders

Go RV

Go exchange

Go purchasing power

 

 

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4 hours ago, NEPatriotsFan1 said:

Good,

 

I recently been retrieving my Dinar from the septic tank..... things had gotten tight and my family began using the pretty paper as TP in a pinch.... we started with the 1000 note category and had gotten to about the 10,000 series...... I still have the 25,000 in pretty pristine shape..... I figured if it ever did RV it would be nice to have a few unsoiled notes to impress the local bankers with before I start unloading the used stinky notes on em’   

 

Glad to hear Iraq won’t discrimate against em either!  😜

 

YOU need to stop that Shiite right now with your family ! :wacko:  Tell'em to pour a Bottle of water from the right hand and wipe their butts with the Left hand like they do over there . . . you'll be able to buy ALL the Toilet Paper your family could ever want - :soon:      ;)  :wave:

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Central refuses to distinguish categories of cash

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Central refuses to distinguish categories of cash

 

22-04-2018 01:59 PM

 

The Euphrates -

 

The Central Bank of Iraq refused to distinguish between categories of banknotes, considering it a violation of law. 

The bank said in a statement that the Iraqi banknotes are homogenous in all categories and have absolute force of absolutism and are accepted by the Central Bank and its branches, banks, institutions and the public. 

The statement added that the distinction between categories by imposing a certain category on the public or refusing to accept a particular category is unacceptable and is contrary to the law. 

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1 hour ago, yota691 said:

Central refuses to distinguish categories of cash

Readers

 

 

8
Central refuses to distinguish categories of cash

 

22-04-2018 01:59 PM

 

The Euphrates -

 

The Central Bank of Iraq refused to distinguish between categories of banknotes, considering it a violation of law. 

The bank said in a statement that the Iraqi banknotes are homogenous in all categories and have absolute force of absolutism and are accepted by the Central Bank and its branches, banks, institutions and the public. 

The statement added that the distinction between categories by imposing a certain category on the public or refusing to accept a particular category is unacceptable and is contrary to the law. 

 

Mr. Yota,

 

With all this information on notes, one would think the CBI is ready to flip the switch.

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  • yota691 changed the title to The Central Bank sets the conditions for the confiscation of damaged and invalid banknotes
 
Wednesday, April 25,

 

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Alsumaria News / Baghdad 
put the Central Bank of Iraq , Wednesday, the terms of confiscation of banknotes damaged and unfit for circulation. 

The bank said in a statement received by Alsumaria News, a copy of it, that "the banknotes damaged and non-negotiable are confiscated and inform the party that submitted the decision of confiscation," noting that "the right of those whose cash papers were rejected and confiscated to submit a request to the Governor of the bank or authorized to review the resolution "He said.

 

 


The bank added that "the terms of the banknotes that are considered damaged and which are confiscated from the design of the banknote is unclear or distorted or the appearance of the external appearance changes, including the written or the decree or printed or stamped on it or placed on the adhesive. 

"Another condition is if the paper loses more than 50 percent of its area and if there is evidence to convince the bank that the paper parts have been completely destroyed, they will be partially or fully compensated," he said. 

"The banknotes will be confiscated if these securities are cut into pieces more than 6 pieces, or if the banknotes perforated four holes in one banknote." 

He demanded that "the bank of the banking system to confiscate these damaged banknotes and hand them to the Central Bank with knowledge of its source from the customer," stressing that "the bank bears the responsibility of the legal consequences."
The current Iraqi currency consists of seven categories, including 250 dinars, 500 dinars, 1,000 dinars, 5,000 dinars, 10,000 dinars, 25,000 dinars and 50,000 dinars. The coins were withdrawn by the bank for non circulation by the public. 

It is noteworthy that the Ministry of Commerce during the past period in the processing of citizens ration ration cards on a continuous basis, while accused of corruption during the last period due to the import of bad rice from India .

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 Banks


Economy News _ Baghdad

The Central Bank of Iraq, on Wednesday, the conditions for the confiscation of banknotes damaged and non-negotiable.

The bank said in a statement received "the economy news" a copy of it, "The banknotes damaged and non-negotiable is confiscated and inform the party that submitted the confiscation decision," noting that "the right of those whose cash papers were rejected and confiscated to submit a request to the Governor of the bank or authorized to review the the decision".

The bank added that "the terms of the banknotes that are considered damaged and which are confiscated from the design of the banknote is unclear or distorted or the appearance of the external appearance changes, including the written or the decree or printed or stamped on it or put an adhesive.

"Another condition is if the paper loses more than 50 percent of its area and if there is evidence to convince the bank that the paper parts have been completely destroyed, they will be partially or fully compensated," he said.

"The banknotes will be confiscated if these securities are cut into pieces more than 6 pieces, or if the banknotes perforated four holes in one banknote."

He demanded that "the bank of the banking system to confiscate these damaged banknotes and hand them to the Central Bank with knowledge of the source of the customer," stressing that "the bank bears the responsibility of the legal consequences." 
The current Iraqi currency consists of seven categories, including 250 dinars, 500 dinars, 1,000 dinars, 5,000 dinars, 10,000 dinars, 25,000 dinars and 50,000 dinars. The coins were withdrawn by the bank for non circulation by the public.


Views 59   Date Added 25/04/2018

 
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