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CBI denies award for printing of new currrency


Carrello
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Central denies the award of the new currency for the two British, German and vice-expected implementation of the project mid next year

Tue, 24th, 2012

Baghdad - Turkish Remas

Denied the Iraqi Central Bank, assigning the task of printing the new currency to a British company, considering that leaks, words "naked for Health."

At a time in which the deputies that work in this project will be at the beginning of next year, indicated that this step will be implemented over two years, and through the 3 stages, pointing out that the currency will contain the 36 factor warranty of fraud, and will be added to the Kurdish language and English, as well as the introduction of paper currency category 200 dinars, as there will be a coin of small denominations, and Stzen new currency symbols reflect the heritage and history of Iraq's sovereignty and all its components, as well as many other symbols refer to the civilization of Mesopotamia.

Furthermore, he drew the legal to the absence of express provision in the law of the Central Bank, gives him authority to change the value of the currency and the abolition of zeros They confirmed the need for Parliament to issue legislation empowers the Central Bank to carry out this procedure.

In connection with "the world" on Monday, said the appearance of Mohammed Saleh, deputy central bank governor, said that "Matnaqlth some of the media that he was selected British and German for the printing of new currency after deletion of zeros, words untrue."

Some media reported that the Central Bank Governor Sinan Shabibi, announced the selection of a British company and the other a German for the printing of new currency after deletion of zeros of them, and was selected the two companies among the many international companies to complete the printing, being the Ttavan about 75% of the currencies in the world.

In turn, showed Najiba Najib member of the Finance Committee in the House of Representatives that "there will be work in this project at the beginning of next year, but the Cabinet had the face of slow down in implementation, due to the rise of the dollar against Iraqi dinar during the past months, but still talks ongoing and continuous between the Bank Central Council of Ministers, to find out the most important key points, including a report on the accounting system and what it requires when you change the currency, as well as the most important legislation that must accompany this process, including debt, there is a creditor and a debtor in the old currency, what will be doomed after the change of currency, as must deal with these things because they affect the lives of citizens. "

According to Najib, in an interview with "the world", that "last week, we had a meeting with the Central Bank in this regard, and we looked at models of new currency, and the Central Bank and in coordination with the Finance Committee will take several measures to replace the currency, including the withdrawal of old currency over the two years , and delivered to the banks which in turn will deliver the currency to the Central Bank over the ten years to be destroyed, "indicating that" there is an opinion from the Council of Ministers, recommends the replacement of currency by the beginning of 2014, is that the Finance Committee has proposed, to be in the middle of 2013, to exploit time, we recommended a decision in the first of next July, which was approved on this date, but the cabinet is now studying with the Central Bank key requirements for the accounting system, legislation and matters relating to this regard. "

She explained Najib that "currency will be added to the Kurdish language and English, because the Constitution so provides, as well as the introduction of paper currency category 200 dinars, as there will be a coin of small denominations beside the paper currency, and will be added all the symbols that reflect the heritage, sovereignty and history of Iraq with all its components, and will have a reflection and a presence in the new currency that will be of multiple categories, and many of the symbols used which refers to the civilization of Mesopotamia. "

For his part, MP Haitham Jubouri, a member of the Finance Committee that "the project of changing the currency and delete zeros, the project is of great importance, the significance lies in the purchasing power of the Iraqi dinar, and protection from fraud, manipulation and control of the fake money now in local markets, so blessed this step since its inception by the Central Bank, one of the exclusive powers, as is one of the draws of monetary policy. "

The Jubouri said in an interview with "the world" yesterday that "this step will be implemented over two years through 3 phases, the first stage of printing currency, and the second put a new currency parallel to the currency of the old markets, and the last is the withdrawal of old currency to be replaced by new, and there will be two types of currency raised section of a paper category 200 dinars and 100 dinars and 50 dinars and 25 dinars, and category of mineral dinars and a half dinar and a quarter dinars and 100 fils and 25 fils, and will include different sizes, and quite similar to the size of the dollar and contain fees to the contours of the northern and southern Iraq and east and west and central, and all communities Maldiha, nationalities, and landmarks. "

And take over a British company and a German process of printing the new currency explained that "there are arguments of many different companies, including Turkish and Dnmarkiyh, British, German, and yet we can not say that this company or that will be printed currency because there are presentations of many, but if the final agreement, and has blessing by the House of Representatives and the government, then we will think of the company that will implement, there are offers for different companies and multiple, and provided models and offers at different prices and different sizes and quality of paper is different, as well as the factors of security, The currency current Iraqi of 8 factors to ensure, and the new features an 36 factor ensure, so to speak on the transfer of the project on a particular company is the word very early, "adding that" the Council of Ministers is still fearful of the application of this step, because of the possibilities of using this process for the introduction of counterfeit money or may be the door to money laundering, but these fears have dissipated from through multiple and frequent meetings with the Central Bank of Iraq. "

The Secretariat of the Council of Ministers, called for a patient in the case of deletion of zeros from the currency and change, arguing that the mere thought of the withdrawal of about 40 trillion dinars, storage and destruction needs to be serious consideration of the subject.

According to legal expert Tariq Harb, that "some of the texts of the Central Bank Law allow such a thing, and everything related to currency of reference, and despite the fact that all the cash is of its affairs, but there is no express provision in the law of the central bank gives him authority to change the value of the currency and the abolition of zeros, which means the change in value, it is better to issue a law more legitimate parliament and is backed by the central bank to carry out this procedure. "

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Hey Carrello! Good Morning!

"In turn, showed Najiba Najib member of the Finance Committee in the House of Representatives that "there will be work in this project at the beginning of next year, but the Cabinet had the face of slow down in implementation, due to the rise of the dollar against Iraqi dinar during the past months, but still talks ongoing and continuous between the Bank Central Council of Ministers, to find out the most important key points, including a report on the accounting system and what it requires when you change the currency, as well as the most important legislation that must accompany this process, including debt, there is a creditor and a debtor in the old currency, what will be doomed after the change of currency, as must deal with these things because they affect the lives of citizens. "

Najiba Najib (aka "bitchybitch") has been throwing up roadblocks to this project for a year now, as a Maliki puppet. In the quote above, she mentions reasons for backing the date of implementation off. These same issues were there in 2003 when they changed the currency, and they dealt with them then, and can do so now. WAAAAAAY back then, people had businesses, house and car loans, owned businesses, exchanged currencies, had bank accounts and they actually - believe it or not- survived. It was all of NINE YEARS AGO, fer Pete's sake! The laws are still on the books. The new currency will PREVENT counterfeiting better!

It's smoke blowin' out of her yahoo, and nothing more. The reasons for delay are unknown to us, but the party in power (and/or their puppetmasters) does not want this to happen yet. We may figure that out some time, but not today.

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As I said yesterday, this whole thing may be smoke screen, I could be 100% wrong on this, but the currency is probably all printed or just about done for the September unveiling, again this is just my opinion, I have no links :lol: thanks Carrello

I agree... the only reason that still gives me hope for an RV instead of an RD is all the smoke and confusion.... if they were just gonna RD (lop) there would be no need for the confusion...

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As I said yesterday, this whole thing may be smoke screen, I could be 100% wrong on this, but the currency is probably all printed or just about done for the September unveiling, again this is just my opinion, I have no links :lol: thanks Carrello

Tony, call 1-800-SHABIBI and find out what the hell is going on over there !!!!! Just kidding of course :lol:

I really don't know what to think, I wonder if there is a way to find out if these contracts are pending with these companies ???

Honestly I hope the currency is printed already... Please lets get this thing done !!!!

Thanks Lady C :D I really HATE my job now !!!!!

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Tony, call 1-800-SHABIBI and find out what the hell is going on over there !!!!! Just kidding of course :lol:

I really don't know what to think, I wonder if there is a way to find out if these contracts are pending with these companies ???

Honestly I hope the currency is printed already... Please lets get this thing done !!!!

Thanks Lady C :D I really HATE my job now !!!!!

Shelley

Had to try that phone number. Too funny

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Hey FNBplanet! Nice to see you.

Ms.Najib is a trip. I think she took a macro and micro economics class a few months ago, and how she thinks she got it, but I think she needs more class time.

The news has been stunning for the last two days. If it says the sky is blue, another one will say it is green. Unfortunately, the bombings and deaths will hold true.

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Tony, call 1-800-SHABIBI and find out what the hell is going on over there !!!!! Just kidding of course :lol:

I really don't know what to think, I wonder if there is a way to find out if these contracts are pending with these companies ???

Honestly I hope the currency is printed already... Please lets get this thing done !!!!

Thanks Lady C :D I really HATE my job now !!!!!

Shelley, I called that number and it's a camel leasing company :lol: just kidding too ( for those of you that take things too seriously )

The contracts are done behind closed doors, so we'll never see it, it's all a secret :ph34r:

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I agree... the only reason that still gives me hope for an RV instead of an RD is all the smoke and confusion.... if they were just gonna RD (lop) there would be no need for the confusion...

They ain't loppin'. This is far too complex for a LOP. Geez, I wished I hadn't said that. I feel like I am at a picnic and I just put out the chocolate cake....the alarm for the ants to invade and turn the picnic into everything about ants. Oh, well, it was fun while it lasted. Nice talking to you guys and we may as well move on to another thread now. I hear the rustle of little ant legs, but they must be peg-legged ants because all I hear is lop lop lop lop (same old cadence).

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Shelley, I called that number and it's a camel leasing company :lol: just kidding too ( for those of you that take things too seriously )

The contracts are done behind closed doors, so we'll never see it, it's all a secret :ph34r:

Tony, did you at least get a quote on the one hump or what it would cost to upgrade for a two hump ??? Love it that you can keep your sense of humor in tact B)

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Tony, did you at least get a quote on the one hump or what it would cost to upgrade for a two hump ??? Love it that you can keep your sense of humor in tact B)

Too funny, Shelley life is already tough why make it tougher? so if we bring humor to make it bearable, jmo, thanks .

They ain't loppin'. This is far too complex for a LOP. Geez, I wished I hadn't said that. I feel like I am at a picnic and I just put out the chocolate cake....the alarm for the ants to invade and turn the picnic into everything about ants. Oh, well, it was fun while it lasted. Nice talking to you guys and we may as well move on to another thread now. I hear the rustle of little ant legs, but they must be peg-legged ants because all I hear is lop lop lop lop (same old cadence).

I know how you feel when that three letter word comes up, but regardless of how we feel about it it's part of this journey and there's nothing we can do about it, thanks for all you do.

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They ain't loppin'. This is far too complex for a LOP. Geez, I wished I hadn't said that. I feel like I am at a picnic and I just put out the chocolate cake....the alarm for the ants to invade and turn the picnic into everything about ants. Oh, well, it was fun while it lasted. Nice talking to you guys and we may as well move on to another thread now. I hear the rustle of little ant legs, but they must be peg-legged ants because all I hear is lop lop lop lop (same old cadence).

Agree with you 100% But I sure hope your dressed appropriately, you should be feeling the darts soon :lol:

off to work, you know the drill ... call me if it gets juicy :lol:

Shelley

Had to try that phone number. Too funny

SD gave you a +1 just for trying the phn number :lol:

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Shelley, I called that number and it's a camel leasing company :lol: just kidding too ( for those of you that take things too seriously )

The contracts are done behind closed doors, so we'll never see it, it's all a secret :ph34r:

I think this could be smoke and mirrors, the currency is printed, and the smoke could be a decoy due to security. If the currency is printed, somebody will be looking for it and want to steal it or just blow it up.

Bottom line is that we just do not realize the enormity of printing the currency, bringing in the old, transporting it to banks, and storing it. If you read about the process to print currency and the story General Tant tells about what it took to not only bring in the old currency, destroy it, and distribute the new currency, it is monumental. 650 women did nothing but examine the old currency coming in to verify its authenticity (1% was counterfeit and they didn't have 36 security features), 700 security guards, nonmilitary, were used for transport (this is while our troops were still there!), 13,000 tons of currency were brought in for destruction, 47 each 20 ft long shipping containers were used as incincerators than burned currency for weeks, 747s...pallets....blah blah blah.

My point is that Iraq is still volatile and this whole deal, I think, is kept under wraps for security reasons. One hand is waving high over the head, while the other hand is in the background moving around.

Just my thoughts.......I could be all wrong, Tony, but I think you may be on to something. ;)

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The longer Iraq broadcasts their intentions or tries to use the media to confuse, Big time Speculators will swoop in on the currency in all it's forms. The more they buy, the possible LOP theory is irrelevant! The only people that have concerns about LOP are small investors like us. This process is TOO complex as has already been said, to involve a LOP or RD...IMO.....we're in the $$$$ :D

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RD is not the same thing as the slang word LOP. RD has no effect on the old currency in which we hold. RD will only effect the new currency. The only reason they would RD is if they issue the new currency with the lower denomination and they haven't RV'ed yet.

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