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CENTRAL BANK : a NEW PLAN to WITHDRAW and REPLACE DAMAGED CURRENCY! (7.23.2013)


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Central bank: a new plan to withdraw and replace damaged currency

 

 

 

7.23.2013

 

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Grumbled a large number of citizens across the country from the growing phenomenon of damage and rupture of small groups of paper currency, with the CENTRAL BANK ANNOUNCED a PLAN for the WITHDRAWAL of BANKNOTES DAMAGED and REPLACED with NEW ONES.

 

 

 

 

Observers said: " The problem of DAMAGE and RUPTURE of the CATEGORIES of BANKNOTES 250, 500, 1,000 DINARS worsened significantly within the past few months and that most of the current banknotes of these categories damaged and torn , which can cause sometimes often Baharajat and problems."

 

 

 

 

And said the deputy governor of the Iraqi Central Bank Zuhair Ali Akbar: "The government banks in the provinces did NOT STOP the WITHDRAWAL of CURRENCY DAMAGED from circulation, however, put an AMBITIOUS PALN to PRINT the categories of alternative techniques of high quality," adding that "the CATEGORIES that will REPLACE the DAMAGED PRINTED on PAPER BETTER THAN the PAPER USED in the PRINTING of BANKNOTES to NEIGHBORING COUNTRIES countries. "

 

 

 

 

 

The BANKNOTES CIRCULATING in IRAQ PRINTED in the UNITED KINGDOM by a BRITISH COMPANY, is gaining all denominations leafy current specification much better than the specifications of those that were in circulation until 2004, it was PRINTED during the NINETIES in CHINE and IRAQ on PAPER LOUSY and specifications EASY to COUNTERFEIT.

 

 

 

 

 

THE LINK : http://www.alestiqama.com/news.php?cat=business&id=2634

Edited by ALBUNDY
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governor of the Iraqi Central Bank Zuhair Ali Akbar

 

uhhh,  I missed something here.   Isn't he Zuhair Ali Akbar / General Manager, Central Bank of Iraq branch of al-Basrah 

I guess I read too much into it.  What is Turki's official role?  Ahhh.....so confusing.  

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governor of the Iraqi Central Bank Zuhair Ali Akbar

uhhh, I missed something here. Isn't he Zuhair Ali Akbar / General Manager, Central Bank of Iraq branch of al-Basrah

I guess I read too much into it. What is Turki's official role? Ahhh.....so confusing.

Deputy govrnor Edited by staunch
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Deputy govrnor

 

governor of the Iraqi Central Bank Zuhair Ali Akbar

 

uhhh,  I missed something here.   Isn't he Zuhair Ali Akbar / General Manager, Central Bank of Iraq branch of al-Basrah 

I guess I read too much into it.  What is Turki's official role?  Ahhh.....so confusing.  

If I'm not mistaken, Akbar is currently serving in the role that Saleh once served before he was thrown in jail by Maliki. I could be wrong, but I think I read that several months ago.

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Deputy govrnor

Thanks friend.  And Saleh is still deputy governor of CBI or been demoted?  I have read articles by Saleh and he was working there, but it is so confusing, I don't get it.  Maybe they were recirculated articles. 

Edited by uncirculd
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this article sucks! hahahaahha... why is everyone happy about this???????? c'mon, man!

I know....tells me they dont plan on doing anything with the currency anytime soon if they are gonna spend money to replace all the lower denoms

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Perhaps they are just saying they are going to replace currency just to appease the natives, so to speak.  Personally, I think they are stalling till they are ready to go all electronic.  Just a hunch.

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Perhaps they are just saying they are going to replace currency just to appease the natives, so to speak. Personally, I think they are stalling till they are ready to go all electronic. Just a hunch.

Agreed Carrello! You said smart cards July 31st? Last I saw was the 'end of the seventh month' but have been real curious about a specific date. Sounds promising to me...

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What I get out of this is that there is a move afoot to replace lower denominated currency.  I don't necessarily believe they are planning to simply replace the damaged denominations currently out there.  I certainly wouldn't expect them to just say "Oh, well.  We're going to RV the currency so don't worry about those damaged denoms, as we will be coming out with even lower denoms, but with increased value."

 

I think they felt they needed to say something to ease people's frustration.  We shall see. :twocents:

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I see this as being a very positive thing for us.  For one they are not planning to RD anytime soon.  I like that.  Why would they go in this direction if they were planning on killing zero's then reinvest in a new currency to print?  So this is good.

 

Now the people have been hearing the old tattered dinar was going to be replaced.  Which two weeks ago when I read it could mean anything, being somewhat leery as to what it might indicate I did believe something was up and about to happen in response to the worn dinar.  This might be it.  So as to whether they are replacing the 250, 500, 1,000 notes, while one could surmise it, but I do not read anywhere they are telling us they will be.  This one paragraph at the end is very telling for me.  Mostly because it does not make sense, but does it?

 

The BANKNOTES CIRCULATING in IRAQ PRINTED in the UNITED KINGDOM by a BRITISH COMPANY, is gaining all denominations leafy current specification much better than the specifications of those that were in circulation until 2004, it was PRINTED during the NINETIES in CHINE and IRAQ on PAPER LOUSY and specifications EASY to COUNTERFEIT.
 

 

 

 

Perhaps I am reading more into it than there is.  However here is my thought; the new notes replacing them will be or has been printed in the UK.  They are much better quality than those printed in the 90's.  Those printed in the 90's were Saddam's printing in Iraq and China.  Those dinar were ld's.  What I suspect they are pulling the ld's that we have heard of but have never seen that were printed when the dinars we hold were.  In other words I think they are pulling those notes out of the basement and putting them into circulation.  Shabbibi mentioned doing this when the RD was put on hold as an alternative a year or so ago to deal with the worn notes in the meantime.  

 

Now I also agree with Carrello this all goes hand in hand, qi cards, ld's.  

 

This is an awesome article as I look at it, thanks Al, another super contribution.  

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