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Economist: paper ten thousand dinars new regulatory action to prevent fraud
sczin11. Look at what I highlighted

13/09/2014 16:51 Economist: paper ten thousand dinars new regulatory action to prevent fraud

BAGHDAD / obelisk: Refer head of the Center Economic Information Dargham Muhammad Ali, on Saturday, the issuance of central bank paper a new class of ten thousand dinars to the measures Tndeimih and prevent fraud, pointing to the need to approach the central bank towards the restructuring of the Iraqi currency and delete the zeros, and the issuance of a new currency.

Said Mohammed Ali for "obelisk" "The process of issuing central bank and a new paper from a ten thousand dinars a private matter of the Bank and within his powers, and is as a regulatory to add icons, and logos specific to the paper, along with increased means of safety and prevent fraud add watermarks and seals are difficult to imitate."

He stressed that "the central bank deals with international companies sober for issuing currency and in line with the ongoing development in this area."
The President of the Center for Economic Information on "the need to head the central bank to restructure the Iraqi currency and delete the zeros commensurate with the value of the dollar and raise the value of the Iraqi currency against the currencies of countries Jawarwalamlat the world."

The central bank had announced last Thursday put to paper a new class of 10 000 dinars for trading in the Iraqi market, stressing that the citizen can be easily obtained.

And assume the new paper some changes, including changing the image of the Arab world, Al-Hassan Ibn al-Haytham to the Freedom Monument, has also been modified dates Islamic and Gregorian to 2014 m - 1435H, as well as that the new paper will carry the signature of the governor of the Iraqi Central Bank and the Agency Abdul Basit Turki Saeed.

The paper contains a new class of ten thousand dinars on the thread to ensure the buckle in the middle contains the effects Animations changes color from gold to green when the note is tilted, and wrote the phrase (CBI), has also been marked as advanced security known as (transparent window) in right corner of the top of the face of the paper showing a picture of the minaret Helicobacter when placed on a white background as it appears to the sum of (10000) when placed on a dark background, also includes paper structures against attempts at counterfeiting cloning, and there is a marker present in the paper, especially for the Blind which is about two lines horizontal straight on the left side of the face sheet.

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Agreed... No deleting of 000's anytime soon.!

Go increase exchange rate.!

 

Quite frankly I don't see how a lop on physical notes is at all legal.  I accepted those high denomination in good faith with the verified understanding that say a 25,000 dinar note was equivalent to 25 thousand 1 dinar notes.  Nowhere was it mentioned or understood that the 25k notes were or would be equivalent to 25k Iraq pennies. I bought these dinar based on the exchange rate between 1 iraq dinar and 1 U.S. dollar. If they were to phase out the high denomination notes and replace them with the lower ones with a 1 to 1 exchange, that would be a different story altogether and quite legal.

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I've been a lurker for ever and never posted because I don't really have much to contribute to this board by way of knowledge or insight. But could someone humor me and let me know if you think this means we will ultimately need to trade in our larger notes for these newer ones?

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I've been a lurker for ever and never posted because I don't really have much to contribute to this board by way of knowledge or insight. But could someone humor me and let me know if you think this means we will ultimately need to trade in our larger notes for these newer ones?

Kandoo, that's a question that no one really knows the answer to. Previously when these notes were announced, the word put out was that the old notes would still be valid until they were removed from circulation by the CBI - kind of like the US Treasury or whomever removes notes when they're no longer usable. We'll have to wait and see.

Welcome to DinarVets. + 1 for your first post.

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