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Dohuk 3 September / October (Rn) – The decision of the Economic Committee in the Iraqi parliament on Saturday that the deletion of three zeros from the Iraqi currency will increase the confidence and international credibility in Iraqi currency, noting that the Central Bank of Iraq has a real strategy on the matter, adding that the dinar Iraq will be the strongest in the Middle East. The Mahma Khalil told the Kurdish news agency (Rn), announced today that “the Iraqi government go really about the process of removing the zeros from the Iraqi currency and giving the fundamental pillars of it, so that there is a balance between the value in the hands of the citizen with the appropriate and value of the real exchange rate in the market.” . Noting that “the deletion of zeros will increase the confidence and international credibility in Iraqi currency, particularly that Iraq possesses huge economic resources.” The organizers of the Central Bank of Iraq, has indicated in more than one occasion to the need to delete the three zeroes and issue a new currency, the categories of large cash transactions to fill the large, in addition to the presence of small coins, as well as the issuance of new currency in Arabic, Kurdish and English. He Khalil, MP for the Kurdish coalition, said that “a promising future awaits the new Iraqi dinar, which will be the strongest currency in the Middle East, particularly that Iraq will have in the next few years, balance the fantasy depends on imports of oil could reach 6 million barrels every day “.. He continued by saying “as well as gas revenues and income of industrial, agricultural and religious tourism, along with the experience and capabilities and the bright minds of Iraq.” He believed that “the Iraqi Central Bank has a real strategy about the deletion of zeros from the Iraqi currency, and we trust those who hold it to have the experience of banking and economic outlook contributed and contributes to maintaining the balance of the sovereign of the Iraqi dinar and the holdings of the Iraqi people” .. Noting that “there is full coordination between the parliamentary Economic Committee and the Central Bank of Iraq, and to have our support and our confidence.” And reduced specialize Iraqis in the area of ​​the economy from the impact of the Central Bank of deleting zeros from the currency the purchasing power of the Iraqi dinar, also hopes the government from behind the move, as seen researchers that the cost of raising the zeros will be the biggest of its usefulness, given that the currency’s strength is measured by the stability of disbursement, which is based on the strength of the productive sector is capable of providing goods and services. And on printing new currency in three languages, Khalil said “the Iraqi constitution states in Article IV that the Arabic and Kurdish are the official languages ​​of Iraq, and guarantee issuing the official gazette in both languages, with the Speech and expression in official domains, like the parliament, Cabinet, courts and official conferences , any of the languages, “.. He continued by saying, “The law also stipulates the recognition of official documents and correspondence in the issuing of official documents in them and open schools in both languages ​​and in accordance with educational guidelines, and paragraph (e) says any other realms that require the principle of equality, such as banknotes, passports, and stamps.” The CBI had announced in June 23 last for his willingness to delete the zeros of the Iraqi currency, and as he emphasized that this step is one of the strategic functions of the Bank, pointed out that the new currency will contain on the Kurdish language in addition to Arabic. The Central Bank of Iraq four branches in Basra and Sulaymaniyah, Irbil and Mosul, where established bank independent Iraqi under the law of the Central Bank of Iraq issued on the sixth of March / March 2004, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and the management of foreign reserves and the issuance of and currency management, as well as to regulate the banking sector. http://bit.ly/npC1r1

New Central Bank of Iraq, Friday, stressing the need to delete the zeros and the issuance of new currency, saying that there is a need for large cash categories to fill large transactions in addition to the existence of small currencies, he noted that the new currency will be in three languages. Deputy Governor Central Bank of Iraq the appearance of Mohamed Saleh said in an interview for “Sumerian news”, “installation of faulty currency, as the largest category of Iraqi currency now equals $ 21, and therefore used by traders and dealers to deal with the United States banknotes and 100 dollars, for example if I gave them $ 10 class, they do not accept them”. Saleh said that “this issue if this figure with the evolution of the economy and growth will be disabled, thus we must restructure the currency and delete zeros in that one.” Saleh said there was “a need to small groups consisting of metal currency cash transactions, large groups to fill large cash transactions prepared in first-class institutions around the world global co.,” “lack of possibility of printing currency inside Iraq after that accompanied this experience several problems during the 1990s”. Iraq has already the oldest printing currency within the country, the impact of the economic embargo imposed following the occupation of Kuwait in 1990, where it witnessed the Iraqi market, unprecedented inflation, as well as the increasing incidence of counterfeiting of currency at the time due to a lack of sound international standards in the course. And he said that “the new currency would carry three languages are Arabic and Kurdish and English, we know that the Swiss currency bearing four languages”, stressing that “currency symbols will be national Iraqi civilization legacy spanning 8,000 years, thus reflecting the Iraqi nation, 100 percent.” Has said the Central Bank of Iraq on 23 June last year expressed readiness to delete zeros of Iraqi currency, and stressed that this step is the Bank’s strategic posts, he noted that the new currency with the Kurdish language in addition to Arabic. The Advisor to the Prime Minister for Economic Affairs in the 25 August, the Central Bank of Iraq to stop the procedures for changing currency, warning of “maviat” preparing for counterfeiting trillions of exploiting dinars, currency change with stressed that it would result in enormous cash block are difficult to face. The Iraqi specialists in the field of economy pared the impact that the Central Bank currency zeros omitted on the purchasing power of the Iraqi dinar, the Government also hopes the step, researchers also finds that the cost increase would be greater than the benefit of zeros, as measured by the strength of the currency stability disbursement based on the strength of the productive sector capable of providing goods and services. The Iraqi Central Bank Governor Sinan Al-Shabibi said during a meeting of independent bodies with Prime Minister Nouri al-Maliki held, in the 19 June, ready to initialize all items to replace the Iraqi currency. Wheelock, the Central Bank of Iraq four branches in Basrah, Sulaymaniyah, Erbil, Mosul, where a separate Iraqi bank was established under the Central Bank of Iraq Act of 6 March 2004, and is responsible for maintaining price stability and the implementation of monetary policy including exchange rate policies and management of foreign reserves and currency management version, in addition to regulating the banking sector. http://bit.ly/nhR4am

Bank excludes revaluation by deleting three zeros On: Saturday 03/09/2011 10:18 Baghdad (news) .. The director of the Association of private banks Abdul Aziz Hassoun that the project to delete the three zeroes from the Iraqi currency is simply a modification of the categories of cash and is not intended to raise the Iraqi dinar exchange rate against the dollar or other currencies, pointing out that the strengthening of the currency comes through security and stability and increasing domestic production in the country. He said Hassoun, a reporter for the Agency (news) on Saturday: the project to delete the three zeroes from the Iraqi currency intended to modify the denominations do not is not to raise the price of the Iraqi dinar exchange and support, and continued as long as there is no local production is real and security stability in the country it is difficult to raise the price of exchange of the dinar. Hassoun and expressed concern that the project is accompanied by the deletion of zeros of some negative aspects such as what happened in the year (2004), the project likely to affect prices in the market, stressing at the same time that its impact will be in my time on the consumer until the stability in the circulation. The Director of the Association of private banks: There was a proposal could be altered some of the large groups of the coin instead of the currency completely, but there are different points of view other that there is significant inflation in the amount of currency in circulation and are aiming to reduce to the extent reasonably possible, and called to have a production of a national real and the Iraqi dinar in order to be an international currency are treated abroad. The Central Bank of Iraq has confirmed that the new currency will be printed in three languages ​​Arabic, Kurdish, English for the application referred to by the Iraqi constitution, noting that the old currency will be dispensed gradually. The Advisor to the Central Bank of the appearance of Mohammed Saleh said earlier in (the news): The new currency will work in three languages: Arabic, Kurdish and English, the real opportunity to apply what was referring to the Iraqi constitution, stressing that the aunt of old has not been canceled but will be dispensed gradually and work together with the new currency. Saleh pointed out that there is no difference and disagreement about the rights of the exchange rate and purchase, noting that when we want to buy the rotor b (1200), we will buy dinars Bdenaro (200) fils. He added that the project to delete the zeros approved by the Department of the Central Bank has been forwarded to the Council of Ministers and House of Representatives, explaining the government’s approval if it will work by hand. The central bank adviser that the purpose of the project to delete the zeros of the three is to reduce the large numbers that we are exposed by Bataamlat that reach trillions, and shorten the blocks of cash without disparage and wealth or income, they are all be fixed. And that the project will be working gradually, and differs from the previous project, which began at the end of the year (2003) and continuing until the end (2004), is most probable that this project will take Nada time broader and continue to the year and thus we note that the old currency will gradually disappear. The project to delete the zeros of the three is the restructuring of the Iraqi currency and start a new currency system is the replacement of categories (250.500) JD currencies metal to facilitate a lot of things. http://bit.ly/oM2hOS Alternate translation of same article” Price excludes Bank dinar by deleting three zeros Date: Saturday, 03-09-11 10: 18 am Baghdad (newsletter).The Director of the Association of private banks, said Abdel Aziz Hasson on draft deleted three zeros Iraqi currency is simply modified cash categories is not intended to raise the price of the Iraqi dinar against the dollar or other currencies, adding that strengthening currency comes through security stability and increase local production in the country. Hasson said reporter (News Agency KCNA) Saturday: draft deleted three zeros from the Iraqi currency meant to modify categories only cash and not to raise the price of Iraqi dinar and support, and continued as long as there is no local production and security in real stability of the country it is difficult to raise the exchange rate of the dinar. He expressed concern that the accompanying Hassoun draft deleted some negatives as zeros in (2004), likely to affect the project at market prices, but added that its impact is my time to the consumer until stability in circulation. The Director of the Association of private banks: there was a proposal that could be altered some large groups of currency currency allowance, but there are different views on the existence of significant inflation in the amount of currency in circulation and aim to reduce it to a reasonable extent, calling for there to be a national production and real Iraqi dinar to be international currency traded abroad. The Central Bank of Iraq had stressed that the new currency will be printed in three languages, Arabic, Kurdish, English application indicated the Iraqi Constitution, pointing out that the old currency gradually will be dispensed with. Central Bank Adviser was the appearance of Mohamed Saleh said earlier (News): the new currency will work in three languages are Arabic and the Kurdish and English this is an opportunity for real application indicated by the Iraqi Constitution, stressing that the old aunt was not abolished but gradually will be dispensed with and work together with the new currency. Saleh said there was no difference and difference of rights over the exchange rate and purchase, stating that when we want to buy swivel b (1200) JD we will buy the dinaro 200 Fils. He said the draft approved by deleted zeros Central Bank management and forwarded to the Council of Ministers and deputies, saying if the Government agrees to work on it directly. Central Bank Adviser stated that the purpose of the draft deleted three zeros is reducing the large numbers that are exposed by the ataamlat by the trillions, and monetary blocs shortcut without shortcut income rights and wealth, they all be fixed. The project will be introduced gradually and differs from the previous project, which began at the end of the year (2003) and continued until the end (2004), the more likely that this project will take a broader and continue Nada years therefore note that the old currency will gradually disappear. Project deleted three zeros is restructuring Iraqi currency and launching a new currency system been replaced categories (250, 500) dinars coins to facilitate a lot of things.

On: Saturday 24/09/2011 13:10 Baghdad (news) .. According to a member of the Finance Committee and parliamentary deputy / National Alliance / Abdul Hussein al-Yasiri, that the Iraqi dinar at this time recovered from what it was in the past and began to deal in abroad, noting that the Central Bank of Iraq has up to (57) billion dollars, and this demonstrates the strength of Iraqi economy. Yasiri said in a statement to the Agency (news) on Saturday: that the Iraqi dinar now began to recover almost what it was in the past and are treated in most countries of the world such as Syria, Jordan, Lebanon and the other could be to replace the dinar in any international currency, stressing that the Iraqi dinar is now currency has become internationally recognized as in the past, and raise the price of the dollar, indicating that the dinar exchange rate against the dollar was (3027) dinars, but now its price (1191) dinars, and this shows that the Iraqi dinar began to recover. The Yasiri that the Iraqi Central Bank has to its credit limits (57) billion dollars, and this demonstrates the strength of the Iraqi economy, which all lead to the strengthening of the Iraqi dinar. He was the Iraqi Central Bank announced on 22 June last, he decided to restructure the local currency in order to develop the payment system in the country. Also showed the International Monetary Fund in August last support of the Iraqi economy in the event of his number of economic measures, including the allocation of banks and raise three zeros from the local currency and the payment of debts and compensation is the responsibility of Iraq. The main tasks of the Iraqi Central Bank to maintain price stability, monetary policy, including exchange rates, management of foreign currency reserves, issue currency and management, as well as to regulate the banking sector. http://bit.ly/nlP9XA

Iraqi government completed the amendments to the draft law of oil and gas Baghdad, August 25 / August (Rn) – The adviser in the Iraqi government said on Thursday that the Council of Ministers ended the necessary amendments to the law of oil and gas, and will be submitted to the Parliament after the Eid holiday. The Committee on oil and energy in the Iraqi Council of Representatives announced Monday, its dependence on the government version of the draft law of oil and gas instead of the version submitted by the last week in the Iraqi parliament session. And wait for the oil and energy legislative draft was sent to law by the Iraqi government, such as the study presented to the Parliament for discussion and vote on approval. The Economic Adviser in the government peace Qureshi, told the Kurdish news agency (Rn) that “the Iraqi government ended the amendments to the draft law of oil and gas made by the Committee state energy at the end of the month of July last.” “The Council of Ministers will raise the draft law of oil and gas to the House of Representatives after the Eid al-Fitr holiday for approval to organize political oil in a manner commensurate with the budget in 2012.” Iraq held three rounds of licenses and a number of major oil projects, which sees the oil and energy should be coordinated with the parliamentary oil and gas law deferred. The oil imports about 95% of Iraq’s budget, but so far nothing in the law regulating the affairs of the country despite the conclusion of many of the energy contracts with international companies to develop Iraqi oil fields. And the failure of the House of Representatives to pass Bdorth previous oil and gas law, which was expected to rise oil situation if approved. The absence of law and the cause of a number of problems in this sector, particularly oil contracts signed by the Kurdistan Regional Government with international companies to develop fields, and Baghdad says it is “illegal”, while confirming the region “compatibility with the Iraqi law.” Iraq has the OPEC member’s fourth-largest oil reserves in the world. The giant international companies in the field of energy has won contracts through three rounds of a license to develop oil fields discovered untapped. Although the Iraqi government predicted the arrival of its crude oil production to about 12 million barrels per day over the next five years, but experts have questioned the production and access to that goal, and said that seven million barrels a day was a reasonable figure. http://bit.ly/narwAD