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Butifldrm

Parliamentary finance identifies a reason why coins should not be minted and advises such a move

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23 minutes ago, screwball said:

The Committee on Economy and Investment in the Iraqi Council of Representatives, revealed in 2014 that the Central Bank completed its preparations for the issuance of coins of seven small categories gradually in a project that takes between four to five years to complete.

been about that long.....

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On 8/19/2019 at 7:50 PM, yota691 said:

The parliamentary Finance Committee, on Monday, the existence of a proposal to reintroduce the currency that was used in the country during the past decades.

 

So that's the triggers....../

 

Been wondering why all of a sudden they have all these interest/news about the reintroduction & re-work of coins. 

 

:D :twothumbs::mexican:

 

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1 hour ago, Carrello said:

Thank you for your comments, Zul. Yes, I have been "wondering" too! Ol'e  :mexican:

Yes, Zul, love your stuff.

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9 hours ago, Carrello said:

Thank you for your comments, Zul. Yes, I have been "wondering" too! Ol'e  :mexican:

 

Haha Carrello....

:mexican:but now its time do dance.... 😛

 

:D

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8 hours ago, southbeach said:

Yes, Zul, love your stuff.

 

TQ SB :) / the good stuff are already in the news, I just break them down....

Hope this news will take us to where we should already be. 

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3 hours ago, Rhona said:

Love your posts Zul

 

Rhona & @kwg ~ 🍹. TQ guys. Love...

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This is old but what’s interesting? 

 

https://www.iraqinews.com/business-iraqi-dinar/iraqi-dinar-3-zeros-canceled-by-central-bank-of-iraq-cbi/

 

The Iraqi dinar will have 3 zeros canceled by the Central Bank of Iraq according to Finance Commissioner, MP Abdul Hussein al-Yassiri.

 

MP al-Yassiri told Iraqi News that “it is supposed that this year will witness necessary preparations to cancel three zeros from the currency”.

He added that his commission supports such move for its importance to the Iraqi economy.

The Central Bank of Iraq, earlier, announced that cancelling the zeros is within a plan to develop monetary policies in the country.

 

One of the difficulties facing is Iraq is withdrawing 30 trillion Iraqi dinars from Iraq’s market at the present time and to replacing it with new currency.

Earlier, the ministry of finance ruled out the idea of cancelling the zeros in 2013 because the federal budget was based on the current currency.

 

so back in 2013 when they were talking about deleting zeros if you remember they also talked abiut a supplementary budget, this budget contained reconstruction and social welfare! So why is it important now? Because haven’t they combined the two? So does this mean the new budget to voted on in  September is based upon the zeros removed?

 

 

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zul

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  • zul
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The Zul Luv Is Thick In This Thread ! :o 

 

fortune teller speak low music GIF by Speak Low If You Speak Love

 

:D  :D  :D 

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5 minutes ago, DinarThug said:

zul

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The Zul Luv Is Thick In This Thread ! :o 

 

fortune teller speak low music GIF by Speak Low If You Speak Love

 

:D  :D  :D 

 

😂😊

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39 minutes ago, screwball said:

so back in 2013 when they were talking about deleting zeros if you remember they also talked abiut a supplementary budget, this budget contained reconstruction and social welfare! So why is it important now? Because haven’t they combined the two? So does this mean the new budget to voted on in  September is based upon the zeros removed?

 

:twothumbs: love it..../~ well it certainly will be 'something totally different' from all their previous budgets.

*their words*

 

Git up!

:rodeo:

Edited by zul
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9 hours ago, DinarThug said:

The Zul Luv Is Thick In This Thread ! :o 

 

fortune teller speak low music GIF by Speak Low If You Speak Love

 

:D  :D  :D 

 

Go ‘Big’ Or Go Home ! :o 

'Big' (1988) by Penny Marshall

'Big' (1988) by Penny Marshall
 
:D  :D  :D 
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1 hour ago, DinarThug said:

 

Go ‘Big’ Or Go Home ! :o 

'Big' (1988) by Penny Marshall

'Big' (1988) by Penny Marshall
 
:D  :D  :D 

I seen that thing in California last year and yes I did put money into it!👁

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9 minutes ago, Artitech said:

I seen that thing in California last year and yes I did put money into it!👁

 

The ‘Liberty Mutual’ Booth ? :o 

 

Liberty Mutual’s “Zoltar”

image_search_15639021020701410743626.jpg?w=450

 

:D  :D  :D 

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What's the use of coins at the moment ..

Economy | 08:10 - 20/08/2019

 
image
 
 

BAGHDAD - Mawazine News 
commented member of the Iraqi Economic Council Sadiq al - Mashat, on the statements of the Parliamentary Finance Committee on the Iraqi government 's quest to re - work coins. 
Al-Mashat said in a statement received (Mawazine News) a copy, that "the Iraqi government going at the moment to re-work coins is not positive because the financial developments in most countries of the world go to electronic currencies," indicating that "the work of electronic currencies in Iraq has been in great demand during Past few years. " 
He added: "More useful to the state is to reduce the use of currencies in general and urged the Iraqi consumer to pay electronically," indicating that "this measure provides the state the value of minting coins and the value of printing paper currency."
Al-Mashat called through the statement to "the importance of working in electronic currency rather than return to cash and metal," noting that "electronic currency can include small cash categories from one fils to one dinar and thus numbers upward for small cash categories." 
Al-Mashat said, "The banknotes will disappear after 30 years because of the high demand for electronic currency." 
The "Finance Committee in the Iraqi Council of Representatives announced on Monday (19-August-2019) the" government direction to reinstate the currency and delete zeros from paper currency in order to strengthen the national economy. "

https://www.mawazin.net/Details.aspx?jimare=61023

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My kids dont use money, why have coins. Maybe to help old folks transition..

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"... "electronic currency can include small cash categories from one fils to one dinar and thus numbers upward for small cash categories."

 

Love to see them talk about "one fil."

 

Electronic currency is the way of the future, but right now there are portions of Iraq that don't have banks, ATMs, or electricity to use any type of swipe machine. Farmers and goat herders in distance areas of Iraq will continue to be traders, whether it be in chickens for corn, or chickens for dinar. They also trade at distant border areas with neighbors that aren't necesarily Iraqis and don't have compatible payment systems or electricity, so there is a need for paper currency and coins for now.

 

One thing I have learned about Iraq after 10 or so years in this investment, is that when they talk about doing many things (minting coins) they have already done it, as the article Butifldrm posted indicated.

 

 

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On 8/19/2019 at 6:43 AM, Theos said:

Not sure how coins will help without an RV???

Fils is what Stabstones stated..

On 8/19/2019 at 7:05 AM, Stabstones said:

Buying power.. 😎😝🤤😝

Purchasing Power...B)

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8 hours ago, Artitech said:

I seen that thing in California last year and yes I did put money into it!👁

 

Did you wish for the dinars to RV ..?

👍🏻😁 💰 

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2 hours ago, Carrello said:

One thing I have learned about Iraq after 10 or so years in this investment, is that when they talk about doing many things (minting coins) they have already done it, as the article Butifldrm posted indicated.

 

:twothumbs: I Agree, Carrello, AND The Very Best Of The Rest Of Your Week AND Up Coming Weekend To You!!! :tiphat:

 

Settling on the designs of the coins (fils, dinar) AND paper would take time AND then printing the proper quantities would also take time. In 2003/2004 THEE Bicraqi Iraqi Dinar 25, 50, AND 100 coins were issued but withdrawn since the metal was worth more than the value of the category for purchases AND taken out of circulation BY melting down AND selling FOR A "higher" "price".

 

MY (NOTE: MY) opinion is ENTIRELY new coinage AND 50 Bicraqi Iraqi Dinar REDESIGNED notes WILL have to be issued on ReInstatement of THEE Bicraqi Iraqi Dinar INTERNATIONALLY AND RELEASE OF THEE LOWER DENOMINATIONS for "consumer" "confidence" AND "eliminate" "past" "counterfeit" "quantities".

 

ADDED, THEE INTERNATIONAL Organizations such as THEE Whirled Bank AND IMF HAVE "openly" "encouraged" THEE Bicraqi Iraqi to IMPLEMENT. SO, I suspect THEE Whirled Bank AND IMF KNOW THEE NON "counterfeited" LOWER DENOMINATIONS ARE READY FOR ISSUE.

 

LASTLY, "public" "education" IS "ensuing"!!!

 

In The Mean Time.....................................................................................

 

The "Standard" "Disclaimer" Applies.......................................................

 

AND (of course).......................................................................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

:rodeo:   :pirateship:

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This needs to be a Headline. 

 

'government direction to REINSTATE the currency and delete zeros from paper currency in order to strengthen the national economy. "'

 

And one more time for the Coup de Ville...

 

"REINSTATE"

The man said!

i like it!!!!

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      Talk about re-work coin and delete the zeros from the paper
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