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yota691

CBI News 11/21/2017

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 November 21, 2017
Opening of Basra Branch Library

 

In line with the strategic plan of the Central Bank of Iraq and for the purpose of raising awareness and economic culture, an economic library was opened at the Central Bank Branch of Basra under the auspices of Dr. Qassim Rahim Mribit.

The library contains books and economic references in all its specialties, and the library was named after the late deputy governor Zuhair Ali Akbar.

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 November 21, 2017
The Money Laundering Training Program / Basra Branch

In cooperation with the Central Bank of Iraq / Basra branch, a training course was opened in the presence of Dr. Kassem Rahayf, Director General of the Branch and a training cadre by the Center for Banking Studies in our Center from Sunday, 19/11/2017 until 23/11/2017 through a training program aimed at informing the participants about these concepts and the elements and experience that helps them to identify the processes related to money laundering and to stand up to the latest methods in this field and how to face them bank and legislation To reduce their severity.

 

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Yota, I’ve tried to translate the tender article but no success.  

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Just now, gregp said:

I’ve tried to translate the tender article but no success.

This speaks volumes...(machines to destroy the banknotes canceled)..IMO probably includes serial ## of the individual note..an GM DV

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3 minutes ago, yota691 said:

This speaks volumes...(machines to destroy the banknotes canceled)..IMO probably includes serial ## of the individual note..an GM DV

 

We need to figure this one out. I know a guy down the road from my work. He’s from Lebanon. I will hit him up on the way to work. 

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1 hour ago, sandfly said:

machines to destroy the banknotes canceled

yota,,, frank is going to have a hay day off of that one

 

Hope we can all have a hay day with this one!!!

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I stopped by to talk with my friend. He owns a restaurant. He was trying to read it and a line of people walked in the door. He   Didn’t have time to Finish reading it. He said it’s something about hiring a company to destroy the #4 bank notes.  I will go see him around 10:00 Okie time and get the whole story.  

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Could this be the #4 bank notes:

---------------------------------------------------------------------

Replacement Criteria for the Damaged and Defective Banknotes

Damaged banknotes are all notes which remain in circulation and pass a longtime on its usage. Such frequent use leads to worn and damage the banknotes. This dictates on central banks the responsibility to withdraw from circulation all worn and damaged banknotes. This operation is limited on Central Banks which have the right to execute the worn and defective banknotes, and replace them for the costumers in the same value and according to the specific criteria set by the Central Bank of Iraq to receive these notes and as follow:

  1. Missing part of the banknote should not exceed on half of the note.
  2. Dirt/ Soil (fat, oil, colorful etc...) banknotes.
  3. Banknotes contain adhesive tape.
  4. Burnt & buried banknotes.
  5. Defective banknotes.
  6. Banknotes composing two parts with different serial number.

Whereas the damaged banknotes which are called rejected banknotes can not be replaced and received by Central Bank. Central Bank of Iraq takes over the withdrawal and execution them with no compensation for the owner, only in case of existing persuaded evidence that the missing parts are completely destroyed. Then the decision of the compensation will be either entirely or partially and according to the below criteria.

  1. Banknotes contain deliberately writings, drawings and stamping which lead to disappearance the features of the banknote.
  2. Torn banknotes for more than 6 parts.
  3. Mutilated and perforated banknotes and if the missing part is more than 50%.
  4. Perforated, lost and stolen banknotes or coins would not be compensated.

https://cbi.iq/page/86

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Good morning DV; here is the translation 

Here is a translation from my Lebanese friend from Iraqlish to English 

 

Message issued by the CBI offering companies to call the CBI and  submit offers to the CBI to buy 4 machines to destroy notes that are not valid and old notes that are not fit to be in circulation. CBI will start receiving quotes on Wednesday 22nd and they will close the receiving of the quotations on the 26th. Their is a subscription fee that must be paid to the CBI is 150,000 IQD (non refundable) Quotes must be received in a wired envelope plus the names of the company. Listed is the address of the CBI.

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Thank You Yota . GM DV’s ...They already have Currency Burners in the Basements Of banks all across Iraq . The article along with a picture described and show them already installed about 5 years ago . Yota more than likely posted the article. We also had articles of different bank that had fires a few years ago too .......

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Why the CBI is worry about to destroy notes that are not valid to be in circulation, if they were planning to LOP or RD?

 

This is another article pointing to an increase of the dinar exchange rate.

 

Just my opinion 

 

Go CBI 

Go new monetary policy 

Go RV

 

 

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20 minutes ago, Laid Back said:

Why the CBI is worry about to destroy notes that are not valid to be in circulation, if they were planning to LOP or RD?

 

This is another article pointing to an increase of the dinar exchange rate.

 

Just my opinion 

 

Go CBI 

Go new monetary policy 

Go RV

 

 

 Agreed. 

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12 minutes ago, davis411 said:

Am I rich yet

Nope, neither am I .  Sorry to be a Debbie downer / Bobby buzz kill  I don't think this is going to happen.  Constantly getting good news out of Iraq but those people have to pull their heads out and do something  

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27 minutes ago, davis411 said:

Am I rich yet

 

My wife has been asking that question for years. It's worse than my kids asking " are we there  yet " At least I could say we are with my kids - with my wife, I tell her hang on tight, the roller coaster is coming up on a couple of sharp turns ahead. :facepalm:

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1 hour ago, Laid Back said:

Why the CBI is worry about to destroy notes that are not valid to be in circulation, if they were planning to LOP or RD?

 

This is another article pointing to an increase of the dinar exchange rate.

 

Just my opinion 

 

Go CBI 

Go new monetary policy 

Go RV

 

 

 

I agree with you brother Laid Back, and, the CBI is not the ones destroying the notes, they are farming the job out to a third party. Abadi wants things clean and clear or transparent  :twothumbs:

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3 hours ago, gregp said:

 Agreed. 

We are getting close my friend gregp :twothumbs:

 

2 hours ago, Wiljor said:

 

I agree with you brother Laid Back, and, the CBI is not the ones destroying the notes, they are farming the job out to a third party. Abadi wants things clean and clear or transparent  :twothumbs:

Brother Wiljor, the new monetary policy is around the corner ;)

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