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CBI COMPLETES STEPS TO REMOVES ZEROES

KamelKeeper

By KamelKeeper,
in Iraq & Dinar Related News

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KamelKeeper Newbie

KamelKeeper

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CBI completes steps necessary to remove zeros; Awaits signal from executive, legislative branch to implement

June 27th, 2012

A source at the Central Bank “of the Iraqi gate” Today, ethnic, criteria for acceptance or rejection of banknotes in transactions to facilitate the circulation of cash within the banking system and the rest of Iraqi institutions and the public.

The source revealed the uncles of the bank to the general Iraqi banks counting paper cash fit for circulation if it had not reached harm or damage affects the shape, color, size and if there has been a rupture of one or more, including not more than 3 cm were repaired tape transparent so that it does not affect the features real. And if hit by a break in one of the angles up to 2 cm.

The source explained that “the banknote is considered unfit for circulation and compensate for the full value when they are submitted to the Central Bank and its branches and banks if Mthrih and if he was cut in more than one angle if they are installed with adhesive tape Transparent or more in length, display, or different numbers or subject to damage burning drowning or endorsement by an official having jurisdiction. “

“When it is considered the cash fit for circulation are offset by not less than 90% of their value if they are buried or burned or washed or Mkarodh in whole or in part after making sure of its authenticity, as well as if stuck with exotic materials and affected features or perforated hole or more.” .

He noted that the paper is not valid when presented does not compensate if it lost 50% of its area or contained the writings of the seals or affect the shape.

The source explained: “If not counting cards as a result of hit hard procures the relevant committee to compensate the damaged currency at the Directorate General for the issuance of the cabinets and an estimated quantity and value of the decision is ratified by the Central Bank Governor or the Director-General of the issue and cabinets.

The Central Bank of Iraq announced (29 September 2011) that the year 2013 will see the deletion of zeros and replacement of the currency, which warned him, officials and economists because of the presence of mafias currency is preparing to rig the trillions of Iraqi dinars to replace them in the light of the planned changes. Had demanded the prime minister’s central bank to wait project to delete the zeros of the three local currency, saying he was a big project and needs to be enough time to apply

Underscoring the deputies, “The central bank completed all the procedures related to the project to delete the zeros of the three local currency and the expected signal from the executive and legislative branches to begin to implement it.“

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JWJW11 Newbie

JWJW11

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the first six paragraphs seems to be talking about inspecting worn and damaged notes and the guidelines for that inspection. This is nothing new.

The last two paragraphs are interesting,

Very interesting....the last 2 paragraphs.....they mentioned the "mafia" waiting to cash in on the changes.....can't see why they would be concerned about that if a lop was in the works......go RV and soon!

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ckelly2291 Newbie

ckelly2291

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Best key word in these articles: "local". using the tone of what was said saying "local currency" instead of "national currency" to me resonates a change thats positive for the people, and one that absolutely does not negatively affect any investors/foreigners/etc. (that'd be the mafia part who'll try that).....lop wouldn't do all that much for the iraqis & wouldn't bring nearly as much risk of fake notes........RV definitely would :)

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NWGUY Grand Master

NWGUY

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Great article! Thanks! From what I get out of this article, everyone can trade in for full value of the bills, and if they are worn too much, they will give a purcentage of the value.

On a side note...when they refer to the mafia....they are probably referring to the US!!! After all, Obama is from Chicago!! :lol:

Go RV!!!

:D:D:D

Edited by NWGUY
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Shelley Experienced

Shelley

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Great article! Thanks! From what I get out of this article, everyone can trade in for full value of the bills, and if they are worn too much, they will give a purcentage of the value.

On a side note...when they refer to the mafia....they are probably referring to the US!!! After all, Obama is from Chicago!! :lol:

Go RV!!!

:D:D:D

Thanks Nwguy... I thought they always referred to counterfeiters as the Mafia ???

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keepmwlknfny Newbie

keepmwlknfny

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Very interesting....the last 2 paragraphs.....they mentioned the "mafia" waiting to cash in on the changes.....can't see why they would be concerned about that if a lop was in the works......go RV and soon!

Think about it.....the CBI has to plan out exchanging each dinar they printed....if they know how much they have issued and will have to exchange, they will only print a certain amount....so if you have groups bringing in massive amounts of fake bills to exchange, its possible they wont be able to exchange it all, and/or they could just be giving free money away to these groups in return for fake money....

In either case, the CBI loses....

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JWJW11 Newbie

JWJW11

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Keep my boy i know you see lop in every cbi article and can understand why you see it that way but i don't......there is no doubt it is very unclear exactly what they are referring to much less what they aren't saying......i believe the mafia is us.....many other counterfeit articles have referred to the "counterfeiters as just that ;)

Btw.....man you take a lot of smoke breaks.....slow it down some....i want you to be around when this thing RVs so you can come down and go fishing with me and my boys.....boy are we gunna have fun after this is done!

Think about it.....the CBI has to plan out exchanging each dinar they printed....if they know how much they have issued and will have to exchange, they will only print a certain amount....so if you have groups bringing in massive amounts of fake bills to exchange, its possible they wont be able to exchange it all, and/or they could just be giving free money away to these groups in return for fake money....

In either case, the CBI loses....

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yota691 Grand Master

yota691

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Keep my boy i know you see lop in every cbi article and can understand why you see it that way but i don't......there is no doubt it is very unclear exactly what they are referring to much less what they aren't saying......i believe the mafia is us.....many other counterfeit articles have referred to the "counterfeiters as just that ;)

Btw.....man you take a lot of smoke breaks.....slow it down some....i want you to be around when this thing RVs so you can come down and go fishing with me and my boys.....boy are we gunna have fun after this is done!

Our problems is we don't know how to read by some!! I may not write on a Keyboard as elegant as others, but i do know how to Comprehend!! :D

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unirod Apprentice

unirod

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Think about it.....the CBI has to plan out exchanging each dinar they printed....if they know how much they have issued and will have to exchange, they will only print a certain amount....so if you have groups bringing in massive amounts of fake bills to exchange, its possible they wont be able to exchange it all, and/or they could just be giving free money away to these groups in return for fake money....

In either case, the CBI loses....

Keep,

I disagree with your statement "the CBI loses"

This is exactly why the CBI has turned over exchange to the Iraqi Banks. The Banks will take the loss for any counterfiet currency they accept. So the banks are going to have to be more than prepared for counterfiet. If it's a neutral event or LOP ,then why should it matter anyway? HMM??

BTW, I don't believe in dignifying your statements with any Neg's....

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Maggie123 Newbie

Maggie123

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Our problems is we don't know how to read by some!! I may not write on a Keyboard as elegant as others, but i do know how to Comprehend!! biggrin.gif

Yota smile.gif I am curious what you thought about this article, especially the part about the "Mafia". Do you think the lower denoms are ready? I respect your opinions. Thanks Dear. smile.gif

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