Trish in the category of 100 thousand dinars Central Bank: We plan to restructure the Iraqi currency, including the deletion of zeros

[cranman]

I don't see the  notes existing side by side being a positive thing.  Meaning that the three zero notes will be worth the same a no zero note (25,000 =25) .  I would like to see 100, 50 25, 10, 5 and 1 notes with some coins.  Although I could live with 1000, 500 250 and 100 notes with a .10 reval as well (to start out with)

[pacmen]

8 minutes ago, cranman said:

I don't see the  notes existing side by side being a positive thing.  Meaning that the three zero notes will be worth the same a no zero note (25,000 =25) .  I would like to see 100, 50 25, 10, 5 and 1 notes with some coins.  Although I could live with 1000, 500 250 and 100 notes with a .10 reval as well (to start out with)

Hoping that article above from Thuggie is creditable....But it do mention "Coins is in the making also...Thanks Thuggie ✌️

[10 YEARS LATER]

1 hour ago, davis411 said:

What’s a fracking ??

can I use it like

what the frack

what you say fracker

get the frack out of here (what my wife would say)

just want to be sure if using it right 

  

You are Fracking correct on ALL counts Grasshopper 😀

[davis411]

51 minutes ago, DinarThug said:

 

Grab The Hose - Franck And Delta Got Stuck Fracking Again On The Blue Couch !  

 

     

Thanks thugs

you ol fracker 

[davis411]

5 minutes ago, 10 YEARS LATER said:

  

You are Fracking correct on ALL counts Grasshopper 😀

This is a fracked news feed now

[Synopsis]

I'm not sure if this will mean anything to anybody but I periodically update a spreadsheet with the prices and availability of Bicraqi Iraqi Dinar available via the internet in The United States Of America. I am not posting the vendor links but this should help with available denominations. I just updated this tonight. Here it is:

 

 

The --------- means they do not offer that denomination or circulated. The green means available the price is in USD/million Bicraqi Iraqi Dinar. Where You see 100,000 or 500,000 is the largest lot they offer. So, that might be all they have left. Red is out of stock and the price is the last known price while "Out of stock" is noted. The yellow is they show what is offered for sale but one must supply a whole lot of information that, I am uncomfortable sharing.

 

One website went offline August 30, 2018 for some reason. Earlier they were advertising orders of 1 billion IQD or more were being taken.

 

The 50,000 denomination appears to be unavailable except from one vendor, maybe the second. The uncirculated 25,000 are widely available. The circulated 25,000 sold out surprisingly from one vendor recently. The uncirculated 10,000 seems to be drying up with one vendor still offering circulated 10,000 notes. The uncirculated 5,000 seems to be drying up. I think this will be one to watch since the 5,000 note is not shown in the news to be reissued with the 25,000, 10,000, 1,000, 500, and 250 notes. I find it interesting the 50,000 and the 5,000 are not being reissued and the release of the 100,000 has been cancelled.

 

Could be somethin'. Could be nothin'.

 

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

 

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

   

Edited October 8, 2018 by Synopsis

[nannab]

As always thank ya Sir. 

[pacmen]

6 minutes ago, Synopsis said:

I'm not sure if this will mean anything to anybody but I periodically update a spreadsheet with the prices and availability of Bicraqi Iraqi Dinar available via the internet in The United States Of America. I am not posting the vendor links but this should help with available denominations. I just updated this tonight. Here it is:

 

 

The --------- means they do not offer that denomination or circulated. The green means available the price is in USD/million Bicraqi Iraqi Dinar. Where You see 100,000 or 500,000 is the largest lot they offer. So, that might be all they have left. Red is out of stock and the price is the last known price while "Out of stock" is noted. The yellow is they show what is offered for sale but one must supply a whole lot of information that, I am uncomfortable sharing.

 

One website went offline August 30, 2018 for some reason. Earlier they were advertising orders of 1 billion IQD or more were being taken.

 

The 50,000 denomination appears to be unavailable except from one vendor, maybe the second. The uncirculated 25,000 are widely available. The circulated 25,000 sold out surprisingly from one vendor recently. The uncirculated 10,000 seems to be drying up with one vendor still offering circulated 10,000 notes. The uncirculated 5,000 seems to be drying up. I think this will be one to watch since the 5,000 note is not shown in the news to be reissued with the 25,000, 10,000, 1,000, 500, and 250 notes. I find it interesting the 50,000 and the 5,000 are not being reissued and the release of the 100,000 has been cancelled.

 

Could be somethin'. Could be nothin'.

 

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

 

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

   

Burn Baby...Burn...Keep on Burning...Had a Okay's comment lol...Love it...Hope it's Somthing...Thank Synopsis

[davis411]

1 hour ago, nannab said:

 

Exactly Mr. President 

You are the frackin best

hugs and kisses and handshakes 

that’s what a prez does

[NoviceInvestor]

2 hours ago, navira said:

These new higher notes will coexist side by side (just as they said in the past) with the lower categories until they are phased out. Lower notes are coming dvers. We should expect increase in value for the iqd. Cheers

Thank you ... 

[Synopsis]

20 minutes ago, nannab said:

As always thank ya Sir. 

 

Thank YOU, NannaB, AND The Best Of The Rest Of Your Week To You!!! 

 

15 minutes ago, pacmen said:

Burn Baby...Burn...Keep on Burning...Had a Okay's comment lol...Love it...Hope it's Somthing...Thank Synopsis

 

Thank YOU, PacMen, AND The Best Of The Rest Of Your Week To You, Too!!! 

 

Go Moola Nova!!!

[pacmen]

25 minutes ago, pacmen said:

Burn Baby...Burn...Keep on Burning...Had a Ojay's moment lol...Love it...Hope it's Something...Thank Synopsis

Spell check...fat finger...Heehe

[gregp]

12 hours ago, Laid Back said:

I thought the main goal of the CBI was to control inflation and reduce the note count

in the local market from 4 billion notes to 1 billion notes.

 

Now the CBI has a plan to release more 000 notes to the market 25k, 10k, 5k, 1k, 500

notes.... why?.... This will increase the note count......The CBI is worried in how to collect 30 trillion in chunky cash stashed under the mattress, and now they are planning to release more 000 notes... it doesn’t sound logical to me.

 

Can somebody give me a logical explanation about the new 000 they want to

release to the market?

 

The 000 notes (2003 edition) we hold already have the latest security features.

 

I remember somebody told me that we will see a lot of misinformation when

we are closer to an increase of the dinar exchange rate.

 

just my humble opinion 

 

 

 

 

 

 

Until we see these new notes posted in the note section on the CBI, I call this a misinformation scheme. Watch and wait. The RV Train is pulling into the station.   

[6ly410]

 

http://economy-news.net/content.php?id=13904

   

09/10/2018

Experts confirm to «Economy News» the right of the Central Bank to put the name of the governor of the currency

 

Economy News _ Baghdad

The process of putting the name of the governor of the Central Bank of Iraq on the new edition of the currency for a wide media, but a number of experts in the economy and law have confirmed the "eligibility" of the central bank to put the name of the new monetary categories, and the procedure is in place in most countries of the world. 

The specialists said that "the uproar that some media institutions did not have knowledge and know-how in the economic affairs and monetary policy is to ignite the crises and the aim of personal squandering."

In the opinion of the banking expert Majid al-Suri in an interview with "Economy News", "The head of the monetary authority has the right to carry out the process of signing with the name and there is no legal sense of any objection," noting that "the law of the Central Bank allows the name and signature of the Governor of the Bank to minimize Of counterfeiting the currency and makes it difficult to falsify and is one of the safety signals that are placed to protect currencies.

"Many countries (such as the United States, the United Arab Emirates, Egypt, Turkey, Malaysia, Saudi Arabia and Jordan) are being named and signed by the governor," he said. Iraqi rather than a conservative person. "

 

A UAE currency showing the name of the UAE Minister of Finance  

 

For his part, said economic expert Bassem Jamil Antoine in an interview with "Economy News", "The uproar caused by the ignorance of many media about the role of currency, which is the economic front of the country."

He added that the Central Bank did not violate its law, which stipulates that it is considered an independent body, which allows the governor to put his name and signature. And that discussion of the subject could be left to the House of Representatives away from media fallacies. He said.

"A person can not be prosecuted and convicted unless there is a legal offense against him, and if this is not available, it is a personal demarcation process," he said.

In turn, the legal expert Tariq Harb said in a press statement, "The name of the governor on the second edition of the banknotes issued to some groups is not a violation of any legal, but an administrative measure in force in most countries of

the world."

 

A Saudi currency bearing the name and signature of the Governor of the Saudi Arabian Monetary Agency

 

On Monday, the Central Bank of Iraq issued a clarification on the existence of the name of the Governor of the Central Bank of Iraq Ali Alalak in the new edition of the currency.

The Central Bank of Iraq said in a press statement received by the "Economy News" that "one of the basic functions of the work of the Central Bank of Iraq and provided for in Article IV of Law No. 56 of 2004 amending the" Issuance of the Iraqi currency and management, as stated in Articles 32 and 33 of the same law where " The Central Bank of Iraq alone without the right to issue currency currency paper and metal for the purpose of circulation in Iraq. "

"Under the regulations, the CBI has the right to determine the categories of paper and metal currencies, their measures, their forms, their material, their content, their weight, their design and other features."

He pointed out that "the banknotes in various countries contain the signature of the Issuing Authority, which is the Governor of the Central Bank. Central banks have always put signatures of their governors on these securities in different forms." Among them are the signature of the Governor, In the handwriting of the governor in the form of the name combination with a signature with special significance to the banknotes. Many central banks use this combination (name of the governor by hand) without signing to document the stage of issuance of the banknote.

He continued, "Of these examples Iraqi currency issued in 1932 as signed by the same formula Governor of the Central Bank of Iraq in 1964 and followed the approach of the central banks of Egypt, Saudi Arabia, UAE, Lebanon, Turkey and others, so the Central Bank of Iraq decided to include the name of the governor when reprinting or issuing any cash , In line with what was stated and with the latest trends found in the signature alone, the lack of significance required by the word (governor) on the banknote and that the currency committee in the Central Bank of Iraq concerned has taken this decision for months in accordance with all legal considerations and Organizational and international practices ".

 

 

Egyptian currency showing the name and signature of the Governor of the Central Bank of Egypt                   

 

 

Edited October 9, 2018 by 6ly410

[Laid Back]

6 hours ago, gregp said:

 

Until we see these new notes posted in the note section on the CBI, I call this a misinformation scheme. Watch and wait. The RV Train is pulling into the station.   

My friend gregp, thanks for your input. 

That’s what I was thinking.

I hope we are right.!

 

Go cbi

Go RV 

Go $1:1

[DinarThug]

On 10/8/2018 at 9:12 AM, DinarThug said:

LINK

Sadr calls for accountability for stealing Iraq's money

 

8th October, 2018

The leader of the Sadrist movement, Moqtada al-Sadr, called on Monday to hold accountable those who stole Iraq's money. 

Sadr said in a tweet published on his own account of the social networking site, followed by / Mawazin News, "In the past days of the parties had their share of positions and the money of Iraq a lot, whether legally or not, and that lasted 15 years, is enough? "He said. 

He added: "The time has come for the people to take their credit through independent technocrats, or is it time to hold those who steal Iraq's money, and to promote the good of the right." "Either it is time to reach the rights of the citizen without his control by the parties." 

He continued: "The time for the citizen to carry out his duties towards his homeland to the fullest and leave the interests of partisan and sectarian, sectarian, ethnic, regional, tribal, family and personal."

He concluded by saying: "It is time to raise the homeland and the citizen above each affiliation."  Sadr instructed earlier, not to nominate any candidate for any ministry for his part in the next government.Tended 

 

LINK

Sadr calls for accountability for stealing Iraq's money

 

8th October, 2018

The leader of the Sadrist movement, Moqtada al-Sadr, called on Monday to hold accountable those who stole Iraq's money. 

Sadr said in a tweet published on his own account of the social networking site, followed by / Mawazin News, "In the past days of the parties had their share of positions and the money of Iraq a lot, whether legally or not, and that lasted 15 years, is enough? "He said. 

He added: "The time has come for the people to take their credit through independent technocrats, or is it time to hold those who steal Iraq's money, and to promote the good of the right." "Either it is time to reach the rights of the citizen without his control by the parties." 

He continued: "The time for the citizen to carry out his duties towards his homeland to the fullest and leave the interests of partisan and sectarian, sectarian, ethnic, regional, tribal, family and personal."

He concluded by saying: "It is time to raise the homeland and the citizen above each affiliation."  Sadr instructed earlier, not to nominate any candidate for any ministry for his part in the next government.Tended

[DinarThug]

On 10/6/2018 at 9:38 AM, DinarThug said:

LINK

Oil prices rise to four-year highs

 

6th October, 2018
Oil prices stabilized this week after jumping earlier to the highest level in four years, and ended Brent and US crude gains on the week of the month of entry into force of US sanctions on Iran 's oil exports before. 

US benchmark WTI ended the trading session up one cent to settle at $ 74.34 a barrel.  Brent crude for December delivery fell 42 cents to settle at $ 84.16 a barrel. Brent hit the highest level since late 2014 at $ 86.74.  US crude ended the week up 1.3 percent, while Brent climbed 1.4 percent. Saudi Arabia and Russia have been constrained by price gains this week by increasing production to compensate for at least part of the supply shortfall from Iran, OPEC's third largest producer, due to sanctions that will come into force on November 4. 

Washington wants governments and companies around the world to stop buying Iranian oil to pressure Tehran to renegotiate a nuclear deal.  Bloomberg said Saudi Crown Prince Prince Mohammed bin Salman insisted the kingdom kept its promise to compensate for the loss of Iranian crude supplies. He said Saudi Arabia was now pumping about 10.7 million barrels per day and could pump an additional 1.3 million bpd "if the market needs it."

 

LINK

Oil prices rise to four-year highs

 

 

6th October, 2018
Oil prices stabilized this week after jumping earlier to the highest level in four years, and ended Brent and US crude gains on the week of the month of entry into force of US sanctions on Iran 's oil exports before. 

US benchmark WTI ended the trading session up one cent to settle at $ 74.34 a barrel.  Brent crude for December delivery fell 42 cents to settle at $ 84.16 a barrel. Brent hit the highest level since late 2014 at $ 86.74.  US crude ended the week up 1.3 percent, while Brent climbed 1.4 percent. Saudi Arabia and Russia have been constrained by price gains this week by increasing production to compensate for at least part of the supply shortfall from Iran, OPEC's third largest producer, due to sanctions that will come into force on November 4. 

Washington wants governments and companies around the world to stop buying Iranian oil to pressure Tehran to renegotiate a nuclear deal.  Bloomberg said Saudi Crown Prince Prince Mohammed bin Salman insisted the kingdom kept its promise to compensate for the loss of Iranian crude supplies. He said Saudi Arabia was now pumping about 10.7 million barrels per day and could pump an additional 1.3 million bpd "if the market needs it."

[DinarThug]

LINK

Oil prices soar after signs of further drop in Iranian exports

 

 

9th October, 2018

Oil prices rose on Tuesday after further evidence of a drop in Iranian oil exports before the United States re-imposed sanctions and a hurricane moved across the Gulf of Mexico

London Brent crude <LCOc1> rose 26 cents to $ 84.17 a barrel by 0244 GMT. On Monday, Brent fell to a low of $ 82.66, but was mostly back as investors bet that China's economic stimulus would boost demand for crude oil. Brent hit a four-year high of $ 86.74 a barrel last week

US WTI fell 24 cents, or 0.3 percent, to $ 74.53 a barrel after falling to 73.07 in the previous trading session, but fell only five cents at closing

Iranian crude exports fell further in the first week of October, according to tanker data and industry sources, affected by imminent US sanctions and sharply defying other OPEC producers who want to make up for the shortfall

The data showed that Iran exported 1.1 million barrels per day of crude in the seven-day period. An export industry source said October's shipments were less than 1 million bpd so far

In comparison, exports were at least 2.5 million bpd in April before US President Donald Trump pulled out of the United States in May of the 2015 nuclear agreement with Iran and re-imposed sanctions

Oil companies in the Gulf of Mexico have suspended 19 percent of oil production as Hurricane Michael moved toward the eastern Gulf states, including Florida

Analysts said that if current predictions were correct, the hurricane would not seriously affect the Gulf's main production facilities, but any change in its path could widen its impact

The International Monetary Fund (IMF) has lowered its forecast for global economic growth for 2018 and 2019, saying trade policy tensions and import tariffs have negatively impacted trade

[DinarThug]

LINK

New justification and "strange" in writing the name of the portfolios in currency

 

2018/10/9 10:32 

 

In a surprise move, the Central Bank of Iraq announced the printing of large quantities of small groups of the Iraqi currency and the beginning of distribution, and write the name of the governor {agency} on the links, after improving the type of material used, and make a simple change in the form of these Categories. And raised the move of relations by placing his name on the currency in addition to signing a kind of controversy in the Iraqi street, and some called the House of Representatives to remove this addendum. 

However, the director of accounting at the Central Bank Ihsan al-Yasiri said in a press statement that the move was considered normal, considering that many central banks in the world put the name of the governor next to the signature, and only at other times sign, citing it as a "fingerprint of the Iraqi currency."  "These small groups are the ones that were printed in 2004 and include categories of 250, 500 and 1000 dinars, and today the need is much needed to pump more into the Iraqi market," he said.  

 

"Iraq received two days ago the first shipment of the category of thousand dinars and distributed to banks and financial institutions in order to put them to market, and this month will receive shipments of 250 and 500 dinars."

The Central Bank of Iraq changed the image of the Islamic dinar on the category of a thousand dinars and made it a picture of the Assyrian logo.  The legal expert Jamal al-Asadi, the existence of a legal violation in the name of the governor of the Central Bank, the second edition of the Iraqi currency, and told the {Euphrates News} yesterday that the lack of reference to the status of the governor by proxy and write only a conservative in the currency is not original " And according to the Iraqi constitution is supposed to vote on the original in the House of Representatives and Ali al-Alaq acting and legally speaking if raised and pretended to be impersonated. 

For his part, counting the historian Ghazi Ahmed al-Samarrai, step by "the previous did not occur on the date of the modern Iraqi currency since its issuance 87 years ago."  While attributed the general manager of the issuance and cabinets in the Central Bank Abdul Karim Hassan reasons to write the name of the governor on the new currency to know the citizen who is the governor.

[Officiallytook]

Dedollarize???

[navira]

OT, i would have to agree....but before the dedollarization, we need to see rv. Cheers dvers

[DinarThug]

LINK

Parliament inserts a special paragraph of the Central Bank in today's session

 

9th October, 2018
A parliamentary source said Tuesday that the House of Representatives inserted a special paragraph of the Central Bank in its session today. 

The source told Mawazine News,

"The House of Representatives added discussion of the central bank's procedures on the currency on the agenda of today's session."

The House of Representatives held its meeting today, headed by First Deputy Hassan al-Kaabi and the presence of 225 deputies to choose the permanent parliamentary committees and the performance of the constitutional oath of absent MP Mohammed Shukr, and vote on the interim parliamentary committee to amend the rules of procedure, in addition to forming a committee of representatives of parliamentary blocs to choose permanent committees in Parliament, On the nomination of two rapporteurs of the Council.

 

 

########################

 

LINK

Parliament votes to add discussion of the central bank's procedures regarding the currency

 

 9th October, 2018

The House of Representatives voted on Tuesday to discuss the central bank's measures on the currency on its agenda. 

The correspondent said, "Al-Ghad Press," that the parliament voted to add discussion of the central bank's actions on the currency on its agenda.

The Central Bank of Iraq announced recently, the printing of large quantities of small groups of the Iraqi currency and the beginning of distribution, and write the name of the governor (agency) Ali Alalak, after improving the type of material used, and make a simple change in the form of these categories. 

And raised the move of relations by placing his name on the currency in addition to signing a wide debate in the Iraqi street, where he called a number of deputies to remove this addendum.

[DinarThug]

Specialists: The name of the Governor of the Central Bank of the monetary edition of the legal procedure and applied internationally

aljournal October 8, 2018

 

BAGHDAD - The publication of the name of the governor of the Central Bank Ali al-Alaq on the new edition caused a wide controversy in the political circles despite its legality and was after taking official approvals from the Council of Ministers and the Economic Committee, giving the right to the bank to put the name of the governor on the new banknotes, Is practiced in most countries of the world, according to specialists in the legal and economic affairs.

According to specialists, the big fuss that some politicians have, who do not have knowledge and know-how in the economic and monetary affairs, are trying to fabricate crises and raise charges with the aim of politicization, especially after the governor of the central bank has succeeded in maintaining the stability of the Iraqi dinar against the US dollar for many years.

Observers expressed fears that the new parliament would adopt the same opportunistic tactics as former parliamentarians who used cheap methods and various methods of blackmail.

Economist Bassem Antoine says that "the process does not need this uproar. There are economic problems surrounding the country. The name of the governor can not be a basic problem, especially since the central bank has a special law and complete independence in making the appropriate decisions."

Antoine said in a statement to the «Journal News» that "the Council of Ministers and the Economic Committee have given this power to the Governor of the Central Bank," pointing out that "many Arab and foreign countries have in their currency the name of the governor."

"When we talk about the governor of the Central Bank of Lebanon (Riad) Salama, it is an internationally recognized name, and this gives value to the bank he manages," said Abdel Rahman al-Mashhadani, an expert on financial affairs. "The fuss we saw about the new edition and the existence of the governor's name gives value and weight to the country's currency.

For his part, the legal expert Tariq Harb said that the name of the governor on the second edition of the banknotes issued to some groups not in which there is no violation of the law, "but an administrative procedure in force in most of the world.

On Monday, the Central Bank of Iraq issued a clarification on the new currencies, stating that it is entitled to determine the categories of coins and metals and their measurements, forms, material, content, weight and design.

The bank said in a statement that "one of the basic functions of the work of the Central Bank and provided for in Article IV of its law No. 56 of 2004 amending the issuance of the Iraqi currency and management as stated in Articles 32 and 33 of the same law where the Central Bank of Iraq alone without the right to issue currency currency Paper and metal for circulation in Iraq. "

The bank said that "the banknotes in various countries contain the signature of the issuing authority, which is the governor of the Central Bank," pointing out that "the central banks have always put the signatures of their governors on these securities in different formats, including the signature of the governor in relation to his name, The name of the governor is placed in the handwriting of the governor in a form that combines the name with a signature with special significance for the banknotes. Many central banks use this combination (name of the governor by hand) without signing to document the stage of issuance of the banknote.

The Central Bank of Iraq announced Sunday the issuance of its second edition of the banknotes of the categories (25000, 10000, 1000, 500 and 250) dinars, stressing that it will continue circulation of banknotes currently traded from the above categories with the new categories without any intention to withdraw from circulation.

link

[DinarThug]

LINK

Experts confirm the right of the Central Bank to put the name of the governor of the currency
 

 

9th October, 2018    

The process of putting the name of the governor of the Central Bank of Iraq on the new edition of the currency for a wide media, but a number of experts in the economy and law have confirmed the "eligibility" of the central bank to put the name of the new monetary categories, and the procedure is in place in most countries of the world

The specialists said that "the uproar that some media institutions did not have knowledge and know-how in the economic affairs and monetary policy is to ignite the crises and the aim of personal squandering

In the opinion of the banking expert Majid al-Suri in an interview with "Economy News", "The head of the monetary authority has the right to carry out the process of signing with the name and there is no legal sense of any objection," noting that "the law of the Central Bank allows the name and signature of the Governor of the Bank to minimize Of counterfeiting the currency and makes it difficult to falsify and is one of the safety signals that are placed to protect currencies

"Many countries (such as the United States, the United Arab Emirates, Egypt, Turkey, Malaysia, Saudi Arabia and Jordan) are being named and signed by the governor," he said. Iraqi rather than a conservative person

 

A UAE currency showing the name of the UAE Minister of Finance

For his part, said economic expert Bassem Jamil Antoine in an interview with "Economy News", "The uproar caused by the ignorance of many media about the role of currency, which is the economic front of the country

He added that the Central Bank did not violate its law, which stipulates that it is considered an independent body, which allows the governor to put his name and signature. And that discussion of the subject could be left to the House of Representatives away from media fallacies. He said

"A person can not be prosecuted and convicted unless there is a legal offense against him, and if this is not available, it is a personal demarcation process," he said

In turn, the legal expert Tariq Harb said in a press statement, "The name of the governor on the second edition of the banknotes issued to some groups is not a violation of any legal, but an administrative measure in force in most countries of the world

                                                                                                                                                                                                      
 

A Saudi currency bearing the name and signature of the Governor of the Saudi Arabian Monetary Agency

On Monday, the Central Bank of Iraq issued a clarification on the existence of the name of the Governor of the Central Bank of Iraq Ali Alalak in the new edition of the currency

The Central Bank of Iraq said in a press statement received by the "Economy News" that "one of the basic functions of the work of the Central Bank of Iraq and provided for in Article IV of Law No. 56 of 2004 amending the" Issuance of the Iraqi currency and management, as stated in Articles 32 and 33 of the same law where " The Central Bank of Iraq alone without the right to issue currency currency paper and metal for the purpose of circulation in Iraq

"Under the regulations, the CBI has the right to determine the categories of paper and metal currencies, their measures, their forms, their material, their content, their weight, their design and other features

He pointed out that "the banknotes in various countries contain the signature of the Issuing Authority, which is the Governor of the Central Bank. Central banks have always put signatures of their governors on these securities in different forms." Among them are the signature of the Governor, In the handwriting of the governor in the form of the name combination with a signature with special significance to the banknotes. Many central banks use this combination (name of the governor by hand) without signing to document the stage of issuance of the banknote

He continued, "Of these examples Iraqi currency issued in 1932 as signed by the same formula Governor of the Central Bank of Iraq in 1964 and followed the approach of the central banks of Egypt, Saudi Arabia, UAE, Lebanon, Turkey and others, so the Central Bank of Iraq decided to include the name of the governor when reprinting or issuing any cash , In line with what was stated and with the latest trends found in the signature alone, the lack of significance required by the word (governor) on the banknote and that the currency committee in the Central Bank of Iraq concerned has taken this decision for months in accordance with all legal considerations and Organizational and international practices

Egyptian currency showing the name and signature of the Governor of the Central Bank of Egypt

 

###########################

 

https://cbi.iq/news/view/882

Clarification

 

Of the basic tasks of the work of the Central Bank of Iraq and provided for in Article IV of Law No. 56 of 2004 amending "Issuance of the Iraqi currency and management," as stated in Articles 32 and 33 of the same law where it ruled that the Central Bank of Iraq alone without the right to issue currency currency paper and metal For the purpose of trading in Iraq."

Under the regulations, the Central Bank of Iraq determines the categories of paper and metal currencies, their measurements, forms, material, content, weight, design and other features .

It should be noted that the banknotes in various countries contain the signature of the Issuing Authority, which is the Governor of the Central Bank. The central banks have always put their signatures on those securities in different forms. Some of them put the signature of the governor in front of his name, including the person who puts the signature without a name, and whoever puts the name fee in the handwriting of the governor. Many central banks use this combination (the name of the portfolio by hand) without signing to document the stage of issuing the paper. These examples include the Iraqi currency issued in 1932 and the same formula was signed by the Governor of the Central Bank of Iraq in 1964, followed by the central banks of Egypt, Saudi Arabia, UAE, Lebanon, Turkey and others. Therefore, the Central Bank of Iraq decided to include the name of the governor when reprinting or issuing any paper, in line with what was stated and with the latest trends found in the signature alone, the lack of significance required by the word (governor) on the banknote. And that the Currency Committee of the Central Bank of Iraq concerned has taken this decision months ago in accordance with all legal considerations, organizational, technical and international practices

[DinarThug]

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"International Monetary" Iraq's economy is expected to grow
6.5% in 2019

 

 

9th October, 2018

The International Monetary Fund (IMF) expects Iraq's economy to maintain its annual growth rate of 2.2 percent over the next five years, ending in 2023.

The IMF's latest report on prospects for global economic growth indicated that the real GDP growth rate of the Iraqi economy by the end of this year is expected to reach 1.5%.

Economic growth is expected to reach 6.5% in 2019.

While the IMF is expected to stabilize the inflation rate in the country at 2.2% in the current year and next year.