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MONEY IRAQ : Red damaged for adults and for retirees (04-07-2013)


ALBUNDY
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Money Iraq: Red damaged for adults and for retirees
 

 

 

04-07-2013



Corrupt and minus, Two words Ttradvan on the tongues of pensioners and low-income earners and young employees, who often pay their salaries small class currency thousand dinars and coins smaller and all damaged.
 

 

 

Receive Makiya Um Hussein (65 years) salary pension once every two months, like the rest of the retirees in Iraq, and cut the distance to get to the Department of retirement where she has lived in the area of ​​Safwan (40 km west of Basra) did not differ up with it one day, after that stand in the queue Long often receive hers in small currency.
 

 

 

Makiya says "being our rating to the first two categories of class, who pay a bribe or gratuity to an accountant salaries فيدفع clean the large category, the second of not paying and those paid in the currency of small and mostly damaged or torn No one received by us."
 

 

 

She adds, "I wish it stops at this limit, فالمحاسبون the يستقطعون amounts of up to three thousand dinars from the salaries of retirees and political prisoners and martyrs, widows and divorced women without reason, and demanding his salary fully يعاقبونه the Order has a small currency damaged."
 

 

 

Most of the women and men of the older and difficult for them to scramble in long lines, so they are forced to compromise on this margin in exchange for receiving their salaries least damage.
The same happens with the offices of the smart card, where they are deducting more than five thousand dinars of the amount of pension which is more than the limit of the decision officially.
 

 

 

Joseph wholesome works صرافا in market publican and besides knew Bhzgah in repairing damaged paper money where accumulate a large amount of categories shattered cash or المتهرئة.
Says to "talk" while he is busy fixes some money, "I will fix the damaged Banknotes groups small and sometimes larger groups, while I grant foreign currency as a percent paper dollars special attention."
 

 

 

Nafie using transparent sticker currency reform, there is no other way.
 

 

 

He adds "attaching the dollar requires cutting sticker in a very precise way so as not to look as currency collage, also introduce heat-adhesive so that it becomes part of the paper currency, but local currencies Vaslahaa the faster and easier."
 

 

 

Not a monopoly Changers repair damaged currency, there are many of housewives spend some time in the money stick shattered.
 

 

 

Rabab Hussein says an employee "Tired of using the sticker and nail polish to fix the money, we find it difficult to deal with and sellers refuse to receive it, but we do not suffer from damage, but also money from dirty Qmartha and color."
 

 

 

Lack of quality paper currency is the other causes rapid damage after 2003, and then carried the symbols of a promising new era of promise is that the damage hit quickly.
 

 

 

Hamid says rich Manager Investment Bank of Iraq in Basra, "after 2003 was issued a new currency printed English in company specializing currency and stamps, pumping two types of currency paper and metal and then DISAPPEARED COIN of small-day trades has not issued editions of the paper a new compensation for the damaged ones."
 

 

 

He adds, "There are banking offices agree with some of Trustees of the Fund in banks and some departments of banks currency to replace the small versus large ones where specific amounts being deposited amount of money in the balance of the owner of the bank and withdraw Office rather than the amount of the big currency."
 

 

 

The central bank pumped in Basra five million dinars SMALL COIN in different dates for domestic banks by more than 15 banks in Basra, while Raj replace the damaged small currencies especially the cashiers versus eight thousand dinars per million.
 

 

 

Ahmad Nofal employee brought two bags with great class dinar and a quarter dinar to a cashiers and say "receive small groups in our salaries and become a burden on us because a lot of damage, so we replaced the categories of the largest in exchange for the price, we are paying from our pockets tax damaged."
 

 

 

Says teller hands Badr crowing "The customers have balances in government banks return the money to the banks in agreement with the Trustees of the Fund or accountants and replace currencies categories of ten thousand and twenty five thousand, while returning currency damaged trading after pumping banks in salaries."
 

 

 

The surprising lack of crowing pumping new currency and says " We hear every year that the CENTRAL BANK will REPLACE the OLD CURRENCY with NEW ONE, but none of this happens.
 

 

 

the link : http://www.sotaliraq.com/mobile-news.php?id=107077#axzz2Y0ryTgFB

 

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"  The central bank pumped in Basra five million dinars SMALL COIN " , I thought the coin has never distributed eventhough the picture of coin has already been in CBI site. By any chance, Has anyone out there ever gotten coin? Has coin only been used inside Iraq?

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Money Iraq: Red damaged for adults and for retirees

 


04/07/2013 | (Voice of Iraq) - comment.PNGAdd a comment - 

 

Talk | Wahid Ghanem | Basra

money_dinar.jpg


Corrupt and minus, two words Ttradvan on the tongues of pensioners and low-income and young employees, who often pay their salaries currency of small class thousand dinars and coins smaller and all damaged. 
receive Makiya Um Hussein (65 years) salary pension once every two months, like the rest of the retirees in Iraq , and cut the distance to get to the Department of retirement where she has lived in the area of Safwan (40 km west of Basra) did not differ up with it one day, after that stand in a long queue often receive hers currency small. 
says Makiya "being our rating to two first class who pay a bribe or tip of the accountant فيدفع salaries category large clean, and the second of not paying and they pay them currency small and most of them damaged or torn No one received by us. " 
She adds, "I wish it depends at this point, فالمحاسبون يستقطعون amounts of up to three thousand dinars from the salaries of retirees and political prisoners and martyrs widows and divorced women without reason, and demanding his salary fully يعاقبونه Order a currency Small damaged. " 
Most of the women and men of the older and have difficulty overcrowding in long lines, so they are forced to compromise on this margin in exchange for receiving their salaries least damage. 
happens the same thing with the offices of the smart card , where they are deducting more than five thousand dinars of the amount of pension which is more than the limit formally. 
Yusuf wholesome works صرافا market publican Besides knew Bhzgah in the reform of banknotes damaged where the pile has a large amount of denominations torn or المتهرئة. 
says for "discussion" during busy looking fixes some money, "I will fix Banknotes damaged groups small and sometimes classes larger, while I grant foreign currency as a card cent dollar special attention." 
and using wholesome transparent sticker in reforming the currency, there is no other way. 
adds " attaching dollar requires cutting the adhesive in a manner very precise so as not to look like currency as a poster, and introduce the adhesive to heat so that it becomes part of the paper currency, while the local currency Vaslahaa faster and easier. " 
does not monopolize the Changers repair currency damaged there are many of housewives spend some time in labeling money shattered. 
says Rabab Hussein, an employee "Tired of using the sticker and nail polish to fix the money, we find it difficult to deal with and sellers refuse to receive it, but we do not suffer from damage to money, but also of Qmartha and color dirty." 
lack of quality paper currency causes is one in damage rapidly after 2003, and charged at the time symbols of a new era promising promises is that the damage hit quickly. 
Hamid says rich Manager Investment Bank of Iraq in Basra, "after 2003 was issued a new currency printed English in company specializing currency and stamps, pumping two types of currency paper and metal and then disappeared coin of small-day trades has not issued editions paper a new compensation for the damaged ones. " 
He adds, "There are offices of banking consistent with some of the Trustees of the Fund in banks and some departments of banks to replace the currencies of small ones large versus specific amounts as being deposited amount of money in the balance of his office bank and pulls rather than the amount of currency large. " 
and pumped the central bank in Basra five million dinars small coin on the dates of sporadic domestic banks by more than 15 banks in Basra, while Raj replace Currency small private damaged the cashiers versus eight thousand dinars per million. 
Ahmad Novell employee brought two bags with great class dinar and a quarter dinar to a cashiers and say "receive small groups in our salaries and become a burden on us because a lot of damage, so we replaced the categories of the largest in exchange for the price, we are paying from our pockets tax damaged." 
says teller hands Badr crowing "The customers have balances in government banks return the money to the banks in agreement with the Trustees of the Fund or accountants and replace currencies categories of ten thousand and twenty five thousand, while returning currency damaged trading after pumping banks in salaries." 
and surprised screech of not pumping coins new and says, "We hear a year that the central bank will replace the old currency with new ones, but none of this happens.

 

Edited by yota691
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There a couple of nuggets in this article which I find interesting.  It appears the large notes are not in the daily transactions, only smaller denominations are paid to the people. The customers have balances in government banks return the money to the banks in agreement with the Trustees of the Fund or accountants and replace currencies categories of ten thousand and twenty five thousand, while returning currency damaged trading after pumping banks in salaries."  So that tells us 10,000 and 25,000 are not on the streets of Iraq.  They do not allow them to keep them, they get the smaller dinar that is beginning to look like collages. 

 

More;  There are offices of banking consistent with some of the Trustees of the Fund in banks and some departments of banks to replace the currencies of small ones large versus specific amounts as being deposited amount of money in the balance of his office bank and pulls rather than the amount of currency large. " 

and pumped the central bank in Basra five million dinars small coin on the dates of sporadic domestic banks by more than 15 banks in Basra, while Raj replace Currency small private damaged the cashiers versus eight thousand dinars per million.  Ahmad Novell employee brought two bags with great class dinar and a quarter dinar to a cashiers and say "receive small groups in our salaries and become a burden on us because a lot of damage, so we replaced the categories of the largest in exchange for the price, we are paying from our pockets tax damaged." 
says teller hands Badr crowing "The customers have balances in government banks return the money to the banks in agreement with the Trustees of the Fund or accountants and replace currencies categories of ten thousand and twenty five thousand, while returning currency damaged trading after pumping banks in salaries." 
and surprised screech of not pumping coins new

The second nugget is they have been promised new currency to replace the old.  Now this is only a good thing if they are being promised new lower denominations under the same ISO code.  However it does seem the large notes are not allowed to remain in the hands of the Iraqi citizen.  It also appears they are not replacing the worn notes with fresh ones and it appears the people are charged with a tax because the dinar is so worn and glued in pieces.  The tax being they get less for the dinar.  They are being held responsible for tattered dinar of which they have no control of.

 

As far as coins.....you got me on that one, I do not know what they mean.   

 

I like these articles that kind of give us a landscape picture via the people.



 

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Zig, I like this line:

brought two bags with great class dinar and a quarter dinar to a cashiers

Yes, let this be the new Dinar. That would indicate a high rate of exchange against foreign currencies.
GO IRAQ GO!
GO RV @ $3.33

WM13

 

I wasn't sure how to read that line, you feel it is the lower denominations then?

 

Another interesting statement, Hamid says rich Manager Investment Bank of Iraq in Basra, "after 2003 was issued a new currency printed English in company specializing currency and stamps, pumping two types of currency paper and metal and then disappeared coin of small-day trades has not issued editions paper a new compensation for the damaged ones. " 

I find this intriguing, they were issued the dinar we have now plus coins.  The coins disappeared, CBI retired them.  Then he states they have not received new dinars to replace the old.  I wonder if this means the CBI has not reprinted the dinar since 2005?

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I wasn't sure how to read that line, you feel it is the lower denominations then?

 

Another interesting statement, Hamid says rich Manager Investment Bank of Iraq in Basra, "after 2003 was issued a new currency printed English in company specializing currency and stamps, pumping two types of currency paper and metal and then disappeared coin of small-day trades has not issued editions paper a new compensation for the damaged ones. " 

I find this intriguing, they were issued the dinar we have now plus coins.  The coins disappeared, CBI retired them.  Then he states they have not received new dinars to replace the old.  I wonder if this means the CBI has not reprinted the dinar since 2005?

 

 

I think Keep or Easy did a thread about Dinar and their print dates. [can't remembewr which= sorry]

 

I believe from the people who responded, the latest date for printing based on the info gathered was 2008

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Zig,

I don't know what to think about it really. All I do know is that my "ex-special ops" friend was there and a friend of his saw the lower denomination notes. That was a couple of years ago. I believe him totally, and both of them are invested. This guy would not lie, so what did his buddy see? I want to say he saw 5 Dinar, or 1 Dinar notes, can't remember. That's all I know, take it for what it's worth.

Also, I don't believe the ISO code will change. JMHO

WM13

Edited by waterman13
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I am keeping my fingers crossed on the ISO code.  In all of this one thing is for sure, right now the people are not allowed to hold on to the 10,000 and 25,000 notes and that is very interesting.  So for me this is probably the most interesting fact of all of this article.

 

I am only speculating on this, but this tells me if they really do RV or the rate goes up however they do it, the Iraqi's won't benefit in a huge way.  Some may be holding on to the large note, but most need the dinar to get their dollars so they can eat.

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I wasn't sure how to read that line, you feel it is the lower denominations then?

 

Another interesting statement, Hamid says rich Manager Investment Bank of Iraq in Basra, "after 2003 was issued a new currency printed English in company specializing currency and stamps, pumping two types of currency paper and metal and then disappeared coin of small-day trades has not issued editions paper a new compensation for the damaged ones. " 

I find this intriguing, they were issued the dinar we have now plus coins.  The coins disappeared, CBI retired them.  Then he states they have not received new dinars to replace the old.  I wonder if this means the CBI has not reprinted the dinar since 2005?

 

I was just telling hame55 yesterday that. We have seen several articles in the last yr stating 

 

that the issue with the dinar is whats in the streets is very old. This has  made it easy for 

 

them to be counterfeited. Now we see the people getting taxed on the old notes and getting 

 

upset with worn out currency. We've known the people of Iraq were not happy with the 

 

currency for some time, but now it seems that their getting media attention. Allot of people 

 

are pressing the CBI to get this done. 

 

 

 

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I was just telling hame55 yesterday that. We have seen several articles in the last yr stating 

 

that the issue with the dinar is whats in the streets is very old. This has  made it easy for 

 

them to be counterfeited. Now we see the people getting taxed on the old notes and getting 

 

upset with worn out currency. We've known the people of Iraq were not happy with the 

 

currency for some time, but now it seems that their getting media attention. Allot of people 

 

are pressing the CBI to get this done. 

 

 

 

 

I would agree with that!

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I was just telling hame55 yesterday that. We have seen several articles in the last yr stating 

 

that the issue with the dinar is whats in the streets is very old. This has  made it easy for 

 

them to be counterfeited. Now we see the people getting taxed on the old notes and getting 

 

upset with worn out currency. We've known the people of Iraq were not happy with the 

 

currency for some time, but now it seems that their getting media attention. Allot of people 

 

are pressing the CBI to get this done. 

 

 

very good insight thanks
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Just one other thing to add to this thread....might be useless info, but I wanted to throw in my two cents. I seem to remember an article that was posted quite a while ago indicating that the average wear time for paper dinar was 18 months. Very short lived due to the quality of the bills and conditions. Are we sure no one has dinar dated later than 2008? If not, I can't imagine too much paper dinar actually on the street.

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Just one other thing to add to this thread....might be useless info, but I wanted to throw in my two cents. I seem to remember an article that was posted quite a while ago indicating that the average wear time for paper dinar was 18 months. Very short lived due to the quality of the bills and conditions. Are we sure no one has dinar dated later than 2008? If not, I can't imagine too much paper dinar actually on the street.

A good way to view this is simple... The duration of their hard currency may be very short (18 months) or so, which I do recall articles stating that claim.

However, the CBI vaults may easily have pallets printed from back in 2008 that have not yet been released to the public. With that said, they may  not have printed for years as they have a surplus of new crisp notes.

 

They may not have printed anything new since than, but, they may have a lot in storage not marked as a liability.... I wonder how much of their over-stock is starting to dwindle though as surely something will need to occur on a time-frame as they run out of hard currency to distribute.

 

I recall recently from a personal experience pulling out some $20s from an ATM. They were very crisp, felt brand new, felt like they were sticking together, an had the new uncirculated smell to them. I was quite shocked when I read that their creation date was 2008... That likely meant that the bills i had received were in some sort of storage for years before even being introduced. Could have been in a bank vault, or who knows. Maybe a knowledgeable banker can further explain how some of that works.

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A good way to view this is simple... The duration of their hard currency may be very short (18 months) or so, which I do recall articles stating that claim.

However, the CBI vaults may easily have pallets printed from back in 2008 that have not yet been released to the public. With that said, they may  not have printed for years as they have a surplus of new crisp notes.

 

They may not have printed anything new since than, but, they may have a lot in storage not marked as a liability.... I wonder how much of their over-stock is starting to dwindle though as surely something will need to occur on a time-frame as they run out of hard currency to distribute.

 

I recall recently from a personal experience pulling out some $20s from an ATM. They were very crisp, felt brand new, felt like they were sticking together, an had the new uncirculated smell to them. I was quite shocked when I read that their creation date was 2008... That likely meant that the bills i had received were in some sort of storage for years before even being introduced. Could have been in a bank vault, or who knows. Maybe a knowledgeable banker can further explain how some of that works.

I would like to know.

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they been griping about old torn  dinars  for awhile..  sounds like they  are getting paid in old beat up dinars and when they try  to replace them they are being replaced with  more beat up dinars ..they are only aloud to be replaced when the damage doesnt exceed 30% of the note damaged ..  this article is about small notes being damaged ..

 

 

 

 

 

Saturday, 27 October, 2012

 

 

Central Bank announces replacement of damaged currency early next month

 

 

Central Bank of Iraq, Saturday, his contract with the British company to replace damaged currency with new ones, stressing that the replacement process will be the beginning of the month of November, as pointed out that these currencies are only 1% of the currency in circulation in the market.

The deputy governor of the Central Bank of the appearance of Mohammed Saleh in an interview, ”
” The Bank has contracted with a British company specialized printing currency to print in small denominations which the 250 dinars and the JD 1000, for the purpose of replacing damaged with new ones, “noting that” this company is one of the big companies and that printed approximately 60% of the world’s currencies. ”

Saleh added that “the month of November will begin to replace damaged currency with new ones from the small groups,” adding that “all these currencies damaged constitute only 1% of the currency in circulation, and many that are only worth a few.”

And citizens suffer from the difficulty of buying small groups of markets due to damage and rupture most especially the two categories of the 250 and 1000 dinars.

He held the Iraqi Central Bank, on the tenth of April 2011, bank management responsibility currency traded damaged in the markets, warning of fines on banks uncooperative to the point of suspension, as he emphasized that what is being replaced from the currency damaged in the bank does not exceed 30% of the damaged actual.

It is noteworthy that the Iraqi Central Bank, with headquarters in Baghdad and has four branches in the provinces of Basra and Sulaymaniyah, Irbil and Mosul, founded the bank independent Iraqi under the law of the Central Bank of Iraq issued on March 6, 2004, and is the responsibility of the bank is responsible for maintaining price stability and the implementation of monetary policy, including policies exchange rates and management of foreign reserves and the issuance of currency management, as well as to regulate the banking sector.


 

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On 07 July 2003 - De La Rue In Discussions On Production Of Banknotes For Iraq, is this when CBI printed Iraqi currency ( IQD )/ banknotes only without coins for the first time? Has anyone ever found other dates in another sites , except delarue site when CBI print Iraqi currency again for the second or third time, etc? Cause it seems very difficult for me to find them in another site , therefore I am curious to know from all of you smart and intelligent folks here.

 

2013

 

13 June 2013 - De La Rue delivers Libya's new banknote series in record time

29 May 2013 - De La Rue plc Preliminary Statement to 30 March 2013

20 May 2013 - De La Rue celebrates its 200th anniversary by supporting Dar Merhba Bik home in Malta

17 May 2013 - National Bank of Kazakhstan awarded IBNS 'Banknote of the Year 2012' 03 May 2013 - De La Rue, a strategic partner to the Government and the Central Bank of Trinidad and Tobago, celebrates its 200th anniversary

02 May 2013 - New Barbados banknote series launched 21 April 2013 - De La Rue wins Queen's Award for Enterprise 06 February 2013 - De La Rue Celebrates its 200th Anniversary 2012 20 December 2012 - Appointment of non-executive director announced 12 December 2012 - Reserve Bank of Fiji launches new family of banknotes including polymer $5 27 November 2012 - De La Rue plc Interim Results November 2012 26 November 2012 - De La Rue delivers its 10 millionth UK ePassport 04 October 2012 - Opening of a new Overton Quality Centre 07 September 2012 - De La Rue prints stamps designed to celebrate the Diamond Jubilee of Her Majesty Queen Elizabeth II 16 August 2012 - De La Rue's response to the Kenyan Parliamentary Accounts Committee Report 02 August 2012 - Statement following PAC findings 24 July 2012 - De La Rue funds over 300 desks for Kenyan school 02 July 2012 - Bank of Jamaica commemorates 50 years of independence 20 June 2012 - Trinidad and Tobago commemorative $50 banknote 06 June 2012 - Kazakhstan 10,000 Tenge Wins Award 29 May 2012 - De La Rue plc Preliminary Statement to 31 March 2012 04 April 2012 - De La Rue briefs Kenyan media 29 March 2012 - Kenyan Parliamentary visit to De La Rue 07 February 2012 - Official opening of new De La Rue classrooms in Rwanda 2011 22 November 2011 - Interim Results November 2011 27 October 2011 - De La Rue secures its biggest ever single order for the supply of Visa dove holograms 11 September 2011 - De La Rue and PragmatIC Printing demonstrate wireless powered security labels 24 May 2011 - De La Rue plc Preliminary Statement to 26 March 2011 16 February 2011 - De La Rue awarded agreement for supply of Euro banknotes for 2012 2010 13 December 2010 - De La Rue Appoints New CEO Tim Cobbold 23 November 2010 - Interim Results November 2010 05 July 2010 - Opening of Banknote Factory Extension in Sri Lanka 05 July 2010 - De La Rue Provides Second-Generation ePassport for Malta 25 May 2010 - De La Rue PLC Preliminary Statement to 27 March 2010 15 February 2010 - 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THE LINK : http://www.delarue.com/Media/LatestNews/2013/

Edited by ALBUNDY
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