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Economic committee member urged CBI to resume the project of deletion of zeros from Iraqi dinars 09 Aug 2013

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I took original aritcle posted at beginning of thread, translated it back to Arabic and then translated it into English..a few minor differences.

 

Here's original in English:

 

Economic committee member urged CBI to resume the project of deletion of zeros from Iraqi dinars
09 Aug 2013 
Parliamentary commission of economy and investment of the Central Bank has been called by Iraq news network, in order to discuss the significance and process of deletion of zeros from the Iraqi currencies. It has to be noted that Iraq has recently got freedom from the sanctions of Chapter VII and according to the economic experts; it is advantageous to make decisions regarding restructuring of Iraqi currency at this moment. As the sanctions have been withdrawn, it is expected that Iraq will gain more business power in the world and will soon become a popular place for business venture.
In the presence of members of the Committee on the economy and investment, MP Khalil mehma stated that the Central Bank should start a currency structure as a purely economic issue. The Attorney pointed out on this issue that Iraqi constitution should be changed accordingly if Iraqi dinar has to be reformatted. He also mentioned that Iraq will be the first country to take this initiative of deleting zeros from its currencies. The government of Iraq has taken some significant steps to build the future of Iraq on the foundation of the foreign investments into the country. Central Bank’s initiative to omit zeros will make the economy of the country stable and certainly will help the investors. Not only that, the common people of Iraq will also be benefitted if such measures take place in near future as this will lead to price stability of the market goods.
MP Khalil also added that the project to omit zeros from the currencies of Iraq was pending due to the obligations of chapter VII. According to him government and the Central Bank of Iraq should rethink on this matter and should take swift measures to strengthen the economy of Iraq. Attorney Abdul Hussein abtan said project delays and the survival of the zeros in the Iraqi currency is reasonable as the Iraqi Central Bank reserves of 76 billion dollars and now dealing in thousands.
In the month of August of last year, the CBI stated that it was then planning on omission of zeros from the Iraqi currencies. The deletion of Iraqi dinar will facilitate financial transactions made through cash. However, there is a bigger challenge in the way of deletion of zeros from the Iraqi currency. Presently, more than 30 trillion dinars circulating in the Iraqi market which have to be discarded and replaced with a new currency. This task would not be easy, as opined by experts and observers.

 

Here's the article again, switched from English, to Arabic and then back to English:

 

Member of the Economic Committee and urged the Central Bank to resume the project to delete zeros from Iraqi dinar
Share 9 August 2013 in vasibokshari in toitirshari in Google
The Parliamentary Committee called for economy and investment of the Central Bank of Iraq News Network, to discuss the importance and the deletion of zeros from the Iraqi currency. It may be recalled that Iraq had recently got freedom from the chapter VII sanctions, according to the Economist, it is useful to take decisions with regard to the restructuring of the Iraqi currency at the moment. The sanctions were also withdrawn, expected Iraq will gain more power in the world, and will soon become a popular place for business.
The presence of members of the Committee on the economy and investment, said Khalil MIMA that the Central Bank should start its structure as a purely economic issue. Counsel in this case Iraqi Constitution should be changed accordingly if the Iraqi dinar is reformatted. He also noted that Iraq will be the first country to take the initiative to delete zeros from its currency. The Government of Iraq has taken some important steps to build the future of Iraq on the basis of foreign investment into the country. The Central Bank initiative delete zeros will make the country's economy is stable and will certainly help investors. Not only that the ordinary people of Iraq will be benefited if such measures take place in the near future as this would lead to price stability in the commodities market.
Attorney Khalil also said that the draft Iraq currency zeros deleted pending because Chapter VII obligations. According to him, the Government and the Central Bank of Iraq must reconsider this matter and prompt measures should be taken to strengthen Iraq's economy. Told Abd al-Husayn abtan project delay and survival of zeros in the Iraqi currency reasonable reserves "CBI" $ 76 Billion which means now in the thousands.
The Central Bank said in August last year, they then plan to delete the zeros of the Iraqi currency. Delete the Iraqi dinar will facilitate financial transactions through cash. However, there is an even greater challenge by deleting the zeros of the Iraqi currency. In the market of more than 30 trillion dinars in Iraq at the present time, which must be disposed of and replaced with the new currency. This task will not be easy, according to experts and observers.

 

Oh and btw, maybe it's just me, but I couldn't find this on mustakbal

Edited by TBomb
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A good way to 'take them in' is to revalue them.  Then I will gladly hand over mine :eyebrows:

Exactly what I was thinking.  Because if they were to just want to pull it in, it would take longer, because they would have to take in our notes, and then be sending smaller denominations BACK across the ocean and all over the world, just to have them traded back in.  It would be a massive waste of time. 

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Parliamentary commission of economy and investment of the Central Bank has been called by Iraq news network, in order to discuss the significance and process of deletion of zeros from the Iraqi currencies. It has to be noted that Iraq has recently got freedom from the sanctions of Chapter VII and according to the economic experts; it is advantageous to make decisions regarding restructuring of Iraqi currency at this moment. As the sanctions have been withdrawn, it is expected that Iraq will gain more business power in the world and will soon become a popular place for business venture.
In the presence of members of the Committee on the economy and investment, MP Khalil mehma stated that the Central Bank should start a currency structure as a purely economic issue. The Attorney pointed out on this issue that Iraqi constitution should be changed accordingly if Iraqi dinar has to be reformatted also .He mentioned that Iraq will be the first country to take this initiative of deleting zeros from its currencies. The government of Iraq has taken some significant steps to build the future of Iraq on the foundation of the foreign investments into the country. Central Bank’s initiative to omit zeros will make the economy of the country stable and certainly will help the investors. Not only that, the common people of Iraq will also be benefitted if such measures take place in near future as this will lead to price stability of the market goods.
MP Khalil also added that the project to omit zeros from the currencies of Iraq was pending due to the obligations of chapter VII. According to him government and the Central Bank of Iraq should rethink on this matter and should take swift measures to strengthen the economy of Iraq. Attorney Abdul Hussein abtan said project delays and the survival of the zeros in the Iraqi currency is reasonable as the Iraqi Central Bank reserves of 76 billion dollars and now dealing in thousands.
In the month of August of last year, the CBI stated that it was then planning on omission of zeros from the Iraqi currencies. The deletion of Iraqi dinar will facilitate financial transactions made through cash. However, there is a bigger challenge in the way of deletion of zeros from the Iraqi currency. Presently, more than 30 trillion dinars circulating in the Iraqi market which have to be discarded and replaced with a new currency. This task would not be easy, as opined by experts and observers.

 



http://www.iraqdirectory.com/en/2013/08/09/24751/economic-committee-member-urged-cbi-to-resume-the-project-of-deletion-of-zeros-from-iraqi-dinars.aspx

 

 



Yes . I pilfered it from eleswhere. And yes it says .He mentioned that Iraq will be the first country to take this initiative of deleting zeros from its currencies .............................................................

Edited by Markinsa
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Here is something to remember, not too long ago the people were complaining about their glued together dinar in 50 to 100's.  They said, when they get paid in the larger bills, 10,000 and 25,000 they had to stand in another line and receive the dilapidated smaller bills.  So it seems to me, the CBI keeps the 10k and 25k close to home.  The people said only the wealthy were allowed the larger bills.  If that is true.....as far as Iraq is concerned there is not a whole lot of 10k or 25k to pull in.   Outside of Iraq, yes.  Something to think about as far as difficulty.  The difficulty would be outside of Iraq imo. 

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In my opinion this articles talking about deleting the 000 are only part of a misinformation plan.

A LOP or RD doesn't improve the purchasing power.

The RV is coming at 1:1.16

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In my opinion this articles talking about deleting the 000 are only part of a misinformation plan.

A LOP or RD doesn't improve the purchasing power.

The RV is coming at 1:1.16

Hope you're right

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