Iraq is struggling counterfeit currency by issuing new editions

[yota691]

Iraq is struggling counterfeit currency by issuing new editions

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BAGHDAD / Nasir Ali

Reduce source in the Department issuing currency in the Central Bank of Iraq, the importance of warnings by experts and officials in the government of the existence of counterfeit currency, stressing that the government's decision last change the Iraqi currency was partly due to the disposal of the signing of former Fed governor Sinan al-Shabibi supplements prosecuted.

And saw the Iraqi markets since mid-last month of a new currency trading emblazoned edition in 2014 and carried some of the same specifications, such as the former category 250 dinars and 500 dinars and a thousand dinars, with minor changes raise the most important signing of the former governor and replacing it with circles.Despite the stresses shopkeepers and businesses, banks and exchange offices to make sure the type of currency in order to detect the fake ones, have failed all their tactics and their devices because of the accuracy and the large number of counterfeit currency in circulation.

The advantage of mafias forgery times that begin with currency conversions to pump large quantities of counterfeit currency and withdraw real, knowing the weakness of control during these periods, as happened in 2004 when replaced about 13 billion dinars (11 million dollars) and was sentenced to employees of the Central Bank of prison for years.

According to the deputy governor of the Central Bank of the previous appearance of Mohammed Saleh, the size of the money supply actually exported more than 34 trillion dinars in 2013, pointing out that "the phenomenon of counterfeiting and counterfeiting is a global problem afflicting even stable countries in security and sophisticated banking and security to its proceedings." He said that "the reason for the growing mass of cash due to reasons such as salary increases and commercial traffic unbridled and, more importantly, rejected Iraqi citizen so far to deal with the means of modern banking, such as credit cards and other (...) Even dealings large, such as buying real estate, cars and other conducted in cash."

The owner of "beauty" Exchange Ojaili beauty, that counterfeit currency reached a stage managed natural circulation after views of warping is very precise. "

At the time announced are concerned that the volume of counterfeit currency circulating in the market currently does not exceed 500 million dinars, said the source at the Central Bank said this figure was far from precise, during one operation carried out by security agencies set 24 million dinars held by an employee of the bank, "Two Rivers" in Baghdad also seized other amounts in several provinces. "

Furthermore, accused a member of the parliamentary Economic Committee Nora Albjara window views of involvement in counterfeiting, pointing to the existence of a regional complicity in this matter, especially from Iran, where Iraqi authorities announced seizing large quantities of counterfeit currency was in possession of an Iranian citizen wants to enter the border by land. But the MP for the bloc "state law" Salman al-Moussawi, downplayed the significance of counterfeit currency in circulation, and they pointed to very small amounts and do not constitute any fear, pointing out that there are countries that are trying to hit the Iraqi economy in this way.

And confirmed a member of the Finance Committee in Parliament Najeebeh Najib that "reports of the Central Bank, which up to the Commission confirm the existence of rigging of the local currency, and that this phenomenon has become common. Pointed out that" the reduction of this phenomenon is through the activation of intelligence effort and change the local currency by deleting three zeros of them to be reduce the volume of banknotes in circulation. "

The source in the Iraqi Central Bank stressed that "the Iraqi currency is subject to renewal by replacing the damaged ones each time period, but we as a central bank is not our duty to prosecute counterfeiters and when replacement or any other deal we either destroyed or confiscated counterfeit after the approval of the customer."

Regarding the decision of replacing the currency, according to the source, there are several reasons prompted the Government to make this decision, including the lifting of the signing of the former governor Sinan al-Shabibi and the inability of those banking persuade customers to resort to handle mail and replacing the cash handling smart cards, as well as the introduction of currencies of the largest categories of 50 thousand dinars. and 100 thousand, not to mention the elimination of counterfeit currency.

It has already been announced Director of Customs Region IV in Basra, Brigadier Khalaf al-Badran, set forged Iraqi currency entered from one of the neighboring countries in huge quantities to Basra and from different denominations.

 

 

[sandfly]

THANKS

[Butifldrm]

Currency change the decision to get rid of fraud and signing Shabibi

2014/05/08 | Number of readings 42

 

 

 

BAGHDAD / Wi-News

Counterfeit currency and circulation in the Iraqi market and the signing of former central bank governor things pushed the Iraqi government to take the decision to issue new currency, underlining specialists counterfeit currency trading as normal, because of the difficulty of detection accuracy rigged.

 

 

A source in the department issuing currency in the Central Bank of Iraq, "The Iraqi government's decision to change the currency came against the backdrop of warnings from experts and officials in the government of the existence of counterfeit currency," noting that "the decision is partly due to a very rid of the signing of former Fed governor Sinan al-Shabibi supplements judicially. "

 

He added that "there are other reasons for the decision, including the inability of the banking authorities to convince their customers to resort to handle mail and replacing the cash handling bank cards, as well as the introduction of coins of the largest categories of 50 thousand and 100 thousand dinars."

 

And saw the Iraqi market since the middle of last month traded for the new currency, sealed b edition in 2014, carries some specifications of the previous currency as a class of 250, 500 and 1,000 dinars, with minor changes, the most important of lifting the signing of former Fed governor and replacing it with circles, despite the tightening of shopkeepers The banking offices and banks to ascertain the type of currency to detect counterfeit ones, but most attempts styles and setups in the detection process failed because of the accuracy of counterfeit currency.

 

The advantage of mafias forgery feature transform huge amounts of money are pumping large amounts of counterfeit currency and withdraw real, where control is weak oversight in this period, as happened in 2004, when was replaced by 13 million dinars (11 million dollars), and was sentenced to staff the Central Bank of the time in prison for years.

 

According to the deputy governor of the Central Bank of the previous appearance of Mohammed Saleh, the "phenomenon Alenzuer is a global problem afflicting even some countries stable and sophisticated banking and security," adding that "the reason for the escalation of the problems of circulation of counterfeit currency is due to several reasons, including increased salaries and commercial traffic unbridled, and most importantly rejected Iraqi citizen so far to deal with the means of modern banking, credit and other Kptaqat, and even large transactions such as the purchase of real estate, cars, etc., which are still conducted in cash. "

 

For his part, director of beauty banking and foreign remittances beauty Ojaili that "counterfeit currency circulating in the Iraqi market, normally, it is difficult to detect easily, being rigged accurate manner."

 

He told concerned that the volume of counterfeit currency circulating in the market currently does not exceed 500 million dinars, while the source confirmed the central bank that the figure was far from exact, it has been adjusted 24 million dinars by the security services in a single operation in the possession of an employee of the Bank (Mesopotamia) in Baghdad also seized other amounts in several governorates.

 

The accused member of the parliamentary Economic Committee Nora Albjara "window views of involvement in counterfeiting, pointing to the existence of a regional complicity in this matter, especially from Iran, where Iraqi authorities announced seizing large quantities of counterfeit currency was in possession of an Iranian citizen wants to enter the border by land."

 

The MP for the rule of law Salman al-Moussawi, has reduced the "importance of counterfeit currency in circulation", and referred to it as "very small amounts and do not constitute any fear," pointing out that "there are countries that are trying to hit the Iraqi economy in this way."

 

As confirmed by the Finance Committee in Parliament Najeebeh Najib "reports that the central bank up to the Commission to demonstrate the existence of fraud to the local currency, and that this phenomenon has become common."

 

She pointed out that "the reduction of this phenomenon is through intelligence and redouble efforts to change the local currency by deleting three zeros which are to reduce the size of the banknotes in circulation."

 

We have already announced that the Director of Customs Region IV in Basra, Brigadier Khalaf al-Badran, set forged Iraqi currency entered from one of the neighboring countries in huge quantities to Basra and from different denominations.

http://ynewsiq.com/index.php?aa=news&id22=2959#.U2t-sFCsjvY

Edited May 8, 2014 by Butifldrm

[magawatt]

Uh oh.

Uh oh.

[sandfly]

OK RIGHT

[waterman13]

Doesn't make sense to me. Especially after reading that the IMF told them to raise the rate of the Dinar, and they are talking about doing it after the newly elected are seated. Especially the 50,000 and 100,000 notes.

http://dinarvets.com/forums/index.php?/topic/177497-cbi-going-to-raise-dinar-rate/

 

As usual with the "news" coming out of IRAQ leaves me confused at times.

Wm13

Edited May 8, 2014 by waterman13

[8th ID]

Doesn't make sense to me. Especially after reading that the IMF told them to raise the rate of the Dinar, and they are talking about doing it after the newly elected are seated. Especially the 50,000 and 100,000 notes.

 

I see smoke here......

[Steve B.]

The advantage of mafias forgery times that begin with currency conversions to pump large quantities of counterfeit currency and withdraw real, knowing the weakness of control during these periods, as happened in 2004 when replaced about 13 billion dinars (11 million dollars) and was sentenced to employees of the Central Bank of prison for years.

Read more: http://dinarvets.com/forums/index.php?/topic/177528-iraq-is-struggling-counterfeit-currency-by-issuing-new-editions/#ixzz318Ew2cq8

 

 

Did I misunderstand something here??? Are these numbers from 2004 or 2014???  'Cause 11 million divided by 13 million is about $0.846...

[unirod]

Yes Nice catch SteveB.

They are addressing the funny money during times of currency conversion! This is why they are paranoid about phony money! even though there is so little of it in circulation. I also see that they are only admitting to introducing the lower denoms like 250,500,1K notes at first.

[Butifldrm]

Yes Nice catch SteveB.

They are addressing the funny money during times of currency conversion! This is why they are paranoid about phony money! even though there is so little of it in circulation. I also see that they are only admitting to introducing the lower denoms like 250,500,1K notes at first.

 

This one is even better 

 

The advantage of mafias forgery feature transform huge amounts of money are pumping large amounts of counterfeit currency and withdraw real, where control is weak oversight in this period, as happened in 2004, when was replaced by 13 million dinars (11 million dollars), and was sentenced to staff the Central Bank of the time in prison for years.

Read more: http://dinarvets.com/forums/index.php?/topic/177528-iraq-is-struggling-counterfeit-currency-by-issuing-new-editions/#ixzz318Qu8bA1

 

Which one is correct?  

[yota691]

Currency change the decision to get rid of fraud and signing Shabibi

2014/5/8 03:39:17 PM 

BAGHDAD / Wi-News

Counterfeit currency and circulation in the Iraqi market and the signing of former central bank governor things pushed the Iraqi government to take the decision to issue new currency, underlining specialists counterfeit currency trading as normal, because of the difficulty of detection accuracy rigged.

 

 

A source in the department issuing currency in the Central Bank of Iraq, "The Iraqi government's decision to change the currency came against the backdrop of warnings from experts and officials in the government of the existence of counterfeit currency," noting that "the decision is partly due to a very rid of the signing of former Fed governor Sinan al-Shabibi supplements judicially. "

 

He added that "there are other reasons for the decision, including the inability of the banking authorities to convince their customers to resort to handle mail and replacing the cash handling bank cards, as well as the introduction of coins of the largest categories of 50 thousand and 100 thousand dinars."

 

And saw the Iraqi market since the middle of last month traded for the new currency, sealed b edition in 2014, carries some specifications of the previous currency as a class of 250, 500 and 1,000 dinars, with minor changes, the most important of lifting the signing of former Fed governor and replacing it with circles, despite the tightening of shopkeepers The banking offices and banks to ascertain the type of currency to detect counterfeit ones, but most attempts styles and setups in the detection process failed because of the accuracy of counterfeit currency.

 

The advantage of mafias forgery feature transform huge amounts of money are pumping large amounts of counterfeit currency and withdraw real, where control is weak oversight in this period, as happened in 2004, when was replaced by 13 million dinars (11 million dollars), and was sentenced to staff the Central Bank of the time in prison for years.

 

According to the deputy governor of the Central Bank of the previous appearance of Mohammed Saleh, the "phenomenon Alenzuer is a global problem afflicting even some countries stable and sophisticated banking and security," adding that "the reason for the escalation of the problems of circulation of counterfeit currency is due to several reasons, including increased salaries and commercial traffic unbridled, and most importantly rejected Iraqi citizen so far to deal with the means of modern banking, credit and other Kptaqat, and even large transactions such as the purchase of real estate, cars, etc., which are still conducted in cash. "

 

For his part, director of beauty banking and foreign remittances beauty Ojaili that "counterfeit currency circulating in the Iraqi market, normally, it is difficult to detect easily, being rigged accurate manner."

 

He told concerned that the volume of counterfeit currency circulating in the market currently does not exceed 500 million dinars, while the source confirmed the central bank that the figure was far from exact, it has been adjusted 24 million dinars by the security services in a single operation in the possession of an employee of the Bank (Mesopotamia) in Baghdad also seized other amounts in several governorates.

 

The accused member of the parliamentary Economic Committee Nora Albjara "window views of involvement in counterfeiting, pointing to the existence of a regional complicity in this matter, especially from Iran, where Iraqi authorities announced seizing large quantities of counterfeit currency was in possession of an Iranian citizen wants to enter the border by land."

 

The MP for the rule of law Salman al-Moussawi, has reduced the "importance of counterfeit currency in circulation", and referred to it as "very small amounts and do not constitute any fear," pointing out that "there are countries that are trying to hit the Iraqi economy in this way."

 

As confirmed by the Finance Committee in Parliament Najeebeh Najib "reports that the central bank up to the Commission to demonstrate the existence of fraud to the local currency, and that this phenomenon has become common."

 

She pointed out that "the reduction of this phenomenon is through intelligence and redouble efforts to change the local currency by deleting three zeros which are to reduce the size of the banknotes in circulation."

 

We have already announced that the Director of Customs Region IV in Basra, Brigadier Khalaf al-Badran, set forged Iraqi currency entered from one of the neighboring countries in huge quantities to Basra and from different denominations.

Hala Mohammed