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

[pokerplayer]

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 The coins were withdrawn by the bank for non circulation by the public.

http://economy-news.net/content.php?id=12089

 

 

[Laid Back]

Thanks PP,

information campaign to the citizens .... Before financial inclusion event.

 

Go CBI

Go RV

Go $1:1

[Jaygo]

We hope

[navira45]

LB, yup. This is it man. Let's go CBI! Let's see that rate..

[ChuckFinley]

11 hours ago, yota691 said:

The Central Bank sets the conditions for the confiscation of damaged and invalid banknotes

 

Wednesday, April 25,

 

 

 

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 .

Perfect timing Yota. I just commented on this. It seems that the business and banking have done more to get the dinar international than the GOI.

[yota691]

Damaged currency causes great suffering and embarrassment to citizens

21/5/2018 12:00 am  Some circles do not accept dealing with them Baghdad / Huda al-Azzawi The Iraqi citizen may be one of the few citizens in the world, who complain about not accepting the deal in the national currency torn or damaged by some departments or institutions or shops, which causes him many problems and verbal quarrels may reach sometimes to conflict with hands in full view of The concerned authorities that did not issue a clear and direct order obligates everyone to deal with the currency in any way.  Currency torn within salaries Al-Sabah spoke with more than one official and a citizen in order to shed light on this problem. "At the end of each month, we allocate more than (200) thousand dinars of the currency torn apart equally among the employees of our district," said a member of the committee to receive salaries in a state department. The employee, who did not want to be named, said that «a lot of problems and verbal quarrels occur between us and the trustees of the Fund, who insist on handing over sums of money smuggled and affixed on both sides, beginning with the employee's suffering in how to manage this currency rejected by most dealers, Cabs to shop owners ». She cautioned the employee that all this is happening as a result of the absence of a number of measures and means that the Central Bank of Iraq to take to maintain the prestige of the currency and ease of circulation in the markets. Currency exchange As for the burning or buried currency, Hassan pointed out that it is submitted to the Central Bank exclusively to replace them according to certain controls, noting that the bank is working on its part to solve this problem through the processing of Rafidain Bank and Rashid new banknotes and small categories to pay within the salaries of employees, He pointed out that the bank continues to print and improve the banknotes, especially small groups, and pump them to compensate for the damaged paper, while at the same time preserving the currency and accepting it whatever its status as a symbol representing Aadh country and inform the bank in the case of refusal of banks received the damaged currency of citizens.  The suffering of the working class  For his part, said the citizen Rafie Abdul Latif MP, that the working classes and poor are the most social groups are vulnerable to deal with damaged currencies, because this segment traded in many of them, in addition to the same currency to factors that lead to damage early, such as moisture and wet and other It is noteworthy that even the gas stations have refused to accept the torn paper currency, Therefore, the government and the concerned parties should enact laws to protect the currency as is the case in a number of foreign countries that have issued legal provisions criminalizing those who refuse to deal with them if they are torn or   old. Stamping of coins On the re-minting of the coin for small groups and thus salvation from the problem of extinction of the currency currently in circulation, drew Professor of Economics, University of Nahrain Dr. Ngham Hussein Nima, that there were attempts in 2005-2006 to issue a coin of 250 dinars and 100 dinars and 50 dinars and 25 But the loss of the culture of trading in small metal groups among the public forced the Central Bank to stop circulation and convert it into scrap metal and sell it to a trader, so before taking any steps for the introduction of the coin must propagate the culture of trading in small metal categories And this is certainly the responsibility of the Central Bank of Iraq through the dissemination of financial culture among all segments of the society and openness to the public to raise financial awareness among their ranks and to indicate the importance of dealing with metal groups And keep the currency  Measures to protect the currency  to that said economic researcher Hassan Jamg, said the currency 's strength will be in a positive state with the power of the state, the larger the strong and stable state and the economy in the active state, the same presence and effectiveness in the transactions of internal and external of this currency, and no secret that most communities and nations take A number of measures and means to preserve this currency and to attempt to secure its material and moral status from any external influences that may be natural or by an effective act, such as the case of currency fraud or smuggling abroad, it may be among the solutions to emphasize the need to respect National currency and dealing Regardless of their condition, and in the case that the currency is very tired or in poor condition, such as torn or semi-damaged, the obligation of government agencies to facilitate the taking or retrieval, and then delivery to banks or the competent banking authorities to destroy them and issue a new currency instead of that damaged.

[idplzr]

Moola Nova baby!!!

[Synopsis]

7 minutes ago, idplzr said:

Moola Nova baby!!!

 

Moola Nova baby indeed, IdPlzr, AND The Best Of Your Week To You!!!

 

And (if I may humbly add).................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY!!!)!!!

   

[navira]

Wowoweee

[navira]

New banknotes and small notes to pay salaries for the employees...just wow...yahooo

[Jaygo]

Not excited yet. Read this  at least 29 times before now. 

[6ly410]

GO RVV!!😀

[CSM (R) Thack]

🤞

[NEPatriotsFan1]

1 hour ago, yota691 said:

And this is certainly the responsibility of the Central Bank of Iraq through the dissemination of financial culture among all segments of the society and openness to the public to raise financial awareness among their ranks and to indicate the importance of dealing with metal groups And keep the currency

Thank you Yota! 🤞🏻 sounds like the propaganda Shabbibi used to talk about before the big event.... got to educate the citizens

[IQD=freedom]

Are they saying that the lower denoms are printed and being dispersed aka "pumped"?

[DWS112]

Nice to see the subject getting back to "the currency" !

Damaged currency causes great suffering and embarrassment to citizens

5/21/2018

Some circles do not accept dealing with them

The Iraqi citizen may be one of the few citizens in the world, who complain about not accepting the deal in the national currency torn or damaged by some departments or institutions or shops, which causes him many problems and verbal quarrels may reach sometimes to conflict with hands in full view of The concerned authorities that did not issue a clear and direct order obligates everyone to deal with the currency in any way. 

Currency torn within salaries

Al-Sabah spoke with more than one official and a citizen in order to shed light on this problem. "At the end of each month, we allocate more than (200) thousand dinars of the currency torn apart equally among the employees of our district," said a member of the committee to receive salaries in a state department. The employee, who did not want to be named, said that «a lot of problems and verbal quarrels occur between us and the trustees of the Fund, who insist on handing over sums of money smuggled and affixed on both sides, beginning with the employee's suffering in how to manage this currency rejected by most dealers, Cabs to shop owners ». She cautioned the employee that all this is happening as a result of the absence of a number of measures and means that the Central Bank of Iraq to take to maintain the prestige of the currency and ease of circulation in the markets. Currency exchange

As for the burning or buried currency, Hassan pointed out that it is submitted to the Central Bank exclusively to replace them according to certain controls, noting that the bank is working on its part to solve this problem through the processing of Rafidain Bank and Rashid new banknotes and small categories to pay within the salaries of employees, He pointed out that the bank continues to print and improve the banknotes, especially small groups, and pump them to compensate for the damaged paper, while at the same time preserving the currency and accepting it whatever its status as a symbol representing Aadh country and inform the bank in the case of refusal of banks received the damaged currency of citizens. 

The suffering of the working class 

For his part, said the citizen Rafie Abdul Latif MP, that the working classes and poor are the most social groups are vulnerable to deal with damaged currencies, because this segment traded in many of them, in addition to the same currency to factors that lead to damage early, such as moisture and wet and other It is noteworthy that even the gas stations have refused to accept the torn paper currency, Therefore, the government and the concerned parties should enact laws to protect the currency as is the case in a number of foreign countries that have issued legal provisions criminalizing those who refuse to deal with them if they are torn or  
old.

Stamping of coins

 

On the re-minting of the coin for small groups and thus salvation from the problem of extinction of the currency currently in circulation, drew Professor of Economics, University of Nahrain Dr. Ngham Hussein Nima, that there were attempts in 2005-2006 to issue a coin of 250 dinars and 100 dinars and 50 dinars and 25 But the loss of the culture of trading in small metal groups among the public forced the Central Bank to stop circulation and convert it into scrap metal and sell it to a trader, so before taking any steps for the introduction of the coin must propagate the culture of trading in small metal categories And this is certainly the responsibility of the Central Bank of Iraq through the dissemination of financial culture among all segments of the society and openness to the public to raise financial awareness among their ranks and to indicate the importance of dealing with metal groups And keep the currency 

Measures to protect the currency

 
to that said economic researcher Hassan Jamg, said the currency 's strength will be in a positive state with the power of the state, the larger the strong and stable state and the economy in the active state, the same presence and effectiveness in the transactions of internal and external of this currency, and no secret that most communities and nations take A number of measures and means to preserve this currency and to attempt to secure its material and moral status from any external influences that may be natural or by an effective act, such as the case of currency fraud or smuggling abroad, it may be among the solutions to emphasize the need to respect National currency and dealing Regardless of their condition, and in the case that the currency is very tired or in poor condition, such as torn or semi-damaged, the obligation of government agencies to facilitate the taking or retrieval, and then delivery to banks or the competent banking authorities to destroy them and issue a new currency instead of that damaged.

Edited May 21, 2018 by DWS112

[IQD=freedom]

This was posted in the thread below.

[CSM (R) Thack]

Truly hope so!!!!!

[navira]

IQD=freedom, u got it bro

[6ly410]

This is getting good.... Money!

[10 YEARS LATER]

2 hours ago, NEPatriotsFan1 said:

Thank you Yota! 🤞🏻 sounds like the propaganda Shabbibi used to talk about before the big event.... got to educate the citizens

 

With ALL the education these folks have had during the last 15 years, they should ALL have Freaking Masters Degrees by now.

[Jizmo]

7 hours ago, yota691 said:

new banknotes and small categories to pay within the salaries of employees, He pointed out that the bank continues to print and improve the banknotes, especially small groups, and pump them to compensate for the damaged paper, while at the same time preserving the currency and accepting it whatever its status as a symbol representing Aadh country and inform the bank in the case of refusal of banks received the damaged currency of citizens. 

 

 

That's signs of an RV occurring soon if I have ever seen it!

[yota691]

The strange position of the Central Bank of circulation currency damaged !!

Release date: 2018/5/21 8:48 • 1033 times read

The Iraqi Central Bank announced a position that may seem strange to the citizens' complaints about the circulation of the damaged and damaged currency due to frequent use and the weakness of new pumping instead of new ones.

The Director General of the Department of Reform and Storage in the Central Bank Agency Abdul Karim Hassan, in a press statement followed by the agency {Euphrates News}, "The bank continues to print and improve banknotes, especially small groups and pumped to compensate for damaged papers," calling at the same time "to preserve the currency and acceptance Whatever its status as a symbol representing the sovereignty of the country and to inform the bank in the case of banks refuse to receive the damaged currency of citizens. 
He explained that "the bank issued instructions to government and commercial banks to receive damaged banknotes from citizens and replace them without any fines and any quantity," stressing that "banks that violate these instructions will be held accountable in the event of a complaint against her." 
As for the burning or buried currency, Hassan said that "it is submitted to the Central Bank exclusively to replace them according to certain controls."
He pointed out that "the bank is working on its part to solve this problem through the processing of Rafidain Bank and Rashid new banknotes and small categories to pay within the salaries of employees, as well as the screening of papers and the destruction and compensation of new papers." 
It is noteworthy that the Iraqi citizen may be one of the few citizens in the world, who complain about not accept dealing in national currency torn or damaged by some departments or institutions or shops, which causes him many problems and verbal quarrels may reach sometimes to conflict with the hands on The eyes and ears of the concerned authorities that did not issue a clear and direct order obligates everyone to deal with the currency in any way.
"At the end of each month, we distribute more than 200,000 dinars of the currency torn apart by the employees of our district," said an employee of the state's payroll distribution committee. "Many problems and verbal quarrels occur between us and the trustees who insist. On the delivery of sums of money smuggled and affixed from both sides, to begin with the suffering of the employee in how to manage this currency rejected by most dealers, ranging from owners of taxis to shop owners. 
"All this is happening as a result of the absence of a number of measures and measures that the CBI should take to maintain the prestige of the currency and its ease of circulation in the markets," she said.

[bostonangler]

17 minutes ago, yota691 said:

The bank continues to print and improve banknotes, especially small groups

 

17 minutes ago, yota691 said:

small categories

 

Hmmmm....... Let's see them!!!

 

B/A

[ScaryMary]

All this is happening as a result of the absence of a number of measures and measures that the CBI should take to maintain the prestige of the currency and its ease of circulation in the markets," she said.

Trying to buy food or gas. “We’re sorry ma’am but you can’t pay with these bills”. Couldn’t even imagine this situation.