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


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45 minutes ago, DinarThug said:

t "the time of issuing the currency by the Central Bank is very smart because it accompanied high oil prices and avoid any problem that may affect the Iraqi economy, which depends on

Bump this... so bringing out new 250/500/1000  and no change in value and nothing changes is smart? Lol let’s go IQD

Edited by 6ly410
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The formation of the Iraqi government of Abdul-Mahdi: Qualified persons are moving forward self-serve for the post of Minister

- 39 Minutes Ago
 

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In an experiment that is the first of its kind in Iraq after 2003, university professors, specialists and competencies began to submit their CVs and professional candidates to the positions of ministers in the next government, taking advantage of the opening of Prime Minister-designate Adel Abdul-Mahdi, the door to run for ministerial portfolios. 

The reactions to this unexpected move from Abdul Mahdi were varied, scornful and less important. Others counted it merely as a propaganda campaign, while officials said independent candidates would have a small share of portfolios.

An official close to the office of Abdul Mahdi, the "new Arab", that "since the morning of Tuesday, Tuesday, and so far, we received through the website, which was allocated to the positions of ministers, dozens of biographies by independents," noting that "most The path is for university professors, doctors, engineers, specialists and specialists. "


Abdul-Mahdi opened the door to run for ministerial portfolios, while varied reactions 
to his sudden move


The official, who preferred anonymity, that" special committees began to arrange files for applicants, and then will be presented to legal experts to conform with the constitutional and legal conditions that must be available for the candidate for the post of minister, "explaining that" after the matching, will be neglected files that do not match To the conditions, and then raise the conformity of the conditions to the higher committees for consideration, and determine the most efficient and the best of the applicants for selection as ministers.

He pointed out that "there are certain controls to compete between candidates, related to national expertise and reputation, and special research, promotions and positions occupied for the candidate," stressing that "all this will be calculated in the form of points to compete the number of points between applicants,

"The submission process will continue until the fourth of the Thursday afternoon, and then the presentation will be closed, and the competing names will be settled in two or three days."

Amid these conflicting views, officials stress that there is an opportunity for independent candidates to take over some of the secondary ministries, in light of the continued heated competition by the political blocs over the portfolios.

A deputy for the Alliance of "construction", the "new Arab", on Tuesday, "The talk of a government formed by independent technocrats exaggerated, as Abdul Mahdi, who needs the confidence of the political blocs, can not gain confidence to his government only by pleasing Those blocks and give them important ministries, "noting that" the political blocs will get at least 85 percent of the ministries of the government of Abdul Mahdi. "

"The open horizon of Abdul Mahdi will be only 15 percent of the portfolios of his government, which may be occupied by independent candidates through the electronic submission window."

Amid disagreements over Abdul Mahdi's step, the expert and political researcher Hisham al-Hashemi ridiculed this step. "I feel a fit of laughter from the announcement that the ministry will be elected after an electronic nomination," he said.

He stressed that "those who want to establish a government institutions prove their worth, should not be looking for tapas (propaganda) on the platforms of social networking, the pioneer does not lie to his family," adding that "Abdul Mahdi has been involved with a crazy adviser, or that it is very funny.

While the political expert Majid al-Abbasi that "Abdul-Mahdi's step demonstrates his lack of political experience."

Abbasi said, "The new Arab", on Tuesday, "The actions of Abdul Mahdi, so far, does not demonstrate a person capable of managing the state at a sensitive stage, and it is not reasonable within one month, one-third of which, will be able to form Abdul Mahdi A government of online candidates, so that the information, certificates of experience and guarantees are sufficient for them. "

He considered that "this step may be just a media campaign, or else it indicates from now on the failure of Abdul Mahdi under the leadership of the next government."

For their part, candidates for the portfolios say they hope to have "luck" in getting the portfolios.

One of the candidates for the portfolios, told the "new Arab": "There is no great hope that we got the bags that we offered to them amidst the parties' conflict, but we nominated ourselves and we hope to be lucky, as Abdul Mahdi," he said, "We hope to have a role in Building state institutions that have been ravaged by parties for 15 years. "

On Monday, Abdul-Mahdi announced the opening of the candidacy for the ministerial portfolios through a special website, provided that the candidacy includes CVs and proves that the conditions stipulated in the constitution and the laws in force are met. The opening will be closed at 4 pm Thursday, October 11.

It is noteworthy that the custom followed in Iraq after 2003, is the sharing of ministerial portfolios between the parties of the Authority, according to the results obtained in the parliamentary elections.

The New Arab

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1 hour ago, Jaygo said:

Bye!! 👋

releasing more of the lower notes buy's them more time before the deletion of the zero's project. however if they wanted to start that project in january i'm fine with it, as it has been stated already both new and old notes will co-exist.

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Our economic policy: spend what is in the pocket brings you what is in the unseen
221155698404491688384122.jpg  
Abbas al-Ketbi 
 
On 20- 2017, Trump ascended to the helm of the US presidency. He mentioned his government's priorities: a strong economy based on domestic product with national hands to eliminate unemployment, urbanization and infrastructure development, foreign political alliances that strengthen the national economy, and the eradication of terrorism.

On 4-10-2018, the office of Mr. Adel Abdul Mahdi, Prime Minister to form the next Iraqi government, told the US Secretary of State after his congratulations that Mr. Abdul Mahdi told him: The priorities of our next government, the reconstruction of the country and the provision of services to citizens, To continue to strengthen security.

Trump came to power from the field of finance and business, and Mr. Abdul Mahdi, a man familiar with the policy of the economy, so you always see the economic mindset upon their arrival to power similar to their views and ideas in the administration, and the state program of the state.

The prime minister in charge, when he was nominated for this post before the elections, apologized and wrote an article entitled "The Prime Minister: Thank you for the conditions that are not available." He revealed the reason for his rejection of the post. He mentioned the problems and defects that will confront him. The constructive criticism he used.

Mr. Abdul Mahdi presented his program to the State Administration in a comprehensive eight points, in which he accurately identified errors and problems in previous governments and gave them effective solutions, and the fact that this diagnosis of things with how to address them indicates that he is a statesman of the first order, He needs many articles in the commentary and narration.

The first important point mentioned in his article is (the rationalism of the political economy of the political forces), and when I reviewed the reports and economic research of professors specializing in the economy, found that the root cause of the problems of poverty and deprivation and misery and unemployment and deterioration of services and corruption rampant and slack function and huge salaries, is the economy of the state, All writers and researchers should know to the citizens what the causes of the rent economy, and its negative effects and risks to society and the state, and how to treat it is abundant material for writing.

The mentality of the rent economy is not only in the political forces, as mentioned by Mr. Abdul Mahdi, I think it is a mentality of our Arab social heritage in general and the Iraqi in particular. My father was a driver in the seventies of the last century and he provides a lot of money after meeting the requirements of the family. To his children for profit and interest for decades if he had an investment mentality, but my father, "God bless him" and many parents practice policy (saturated today and hungry Bajr), and after his death, our family to exchange the financial stock and when we enter into poverty and poverty.

This is how the economic policy of the Arab societies and governments (spend what is in the pocket comes to you in the unseen) and do not like Muslims read the Koran and take this verse at night and day (do not make your hand tied to your neck and not spread all the rugs,

 The delay of the Arab and Islamic peoples in the development, and the spread of misery and deprivation and poverty and lack thereof due to the lack of culture of economic and social policy and authoritarianism.

Once I mentioned a presumption in one of my previous writings, I said: I do not forgive God if Basra hit an earthquake and destroyed the oil wells on which our economy depends on the rate of 95% - in terms of Iraqis Edithm of other national production Matrixes inevitably will be the picture in your mind terrifying and outrageous, Abdul Mahdi transition from the state rent to the state investment and production.

After the triumph of Trump, headed by America and the administration of the White House, I wrote an article in which I said: "The economy will be the mole of Trump's policy," as it carries an economic mentality, and as we have said, the men of the economy have a very similar policy. Mr. Abdul Mahdi is no different from them. Economic objections and obstacles of political forces with a rational rent?
The answer is certainly yes.

 

 
2018 - 10 - 10
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3 hours ago, DinarThug said:

 

He pointed out that "the time of issuing the currency by the Central Bank is very smart because it accompanied high oil prices and avoid any problem that may affect the Iraqi economy, which depends on oil in its revenues

 

2 hours ago, 6ly410 said:

Bump this... so bringing out new 250/500/1000  and no change in value and nothing changes is smart? Lol let’s go IQD

 

Looks like there's more to this other than 1000, 500 and 250 dinar....that makes it "very smart because it accompanied high oil prices"

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We shall see what their meaning of smart is.  Hopefully it matches our meaning of smart. 

 

I hate too see the higher oil prices as it means higher gas prices for the average joe.  But for the Dinar investor it is a good thing.  Can you say "bitter sweet"?

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10 minutes ago, navira said:

Couldnt get a rate for iqd on xe.com

This came up for me on xe.com

 

  • Live market rates
     
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I want to convert
From
usd.svg
USDUS Dollar
 
 
To
iqd.svg
IQDIraqi Dinar
 
 
1USD =
1,192.27IQD
1 IQD = 0.000838738 USD1 USD = 1,192.27 IQD
US Dollar to Iraqi Dinar Conversion
Last updated: 2018-10-10 20:48 UTC
Read important information about the IQD.
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6 hours ago, DinarThug said:

He added: The second edition of 100 dinarswhich is of the economic aspect is very important that the smallest currency in the country is 250 dinars and when buying small purchases by the facilitators less than 250 there is no smaller currency to return to the consumer by the seller and this causes extensive financial damage to the consumer

Al-Khakani stressed the need to activate small currencies as it will generate economic and financial benefit for the Iraqi consumer, including the category of 50 dinars

:D

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Why Iraq offers small categories of currency in the markets? 8/10/2018

Central Iraqi considered that the need to print small groups of the Iraqi currency (the island) Central Iraqi considered that the need to print small groups of the Iraqi currency (the island)

Marwan Jubouri - Baghdad

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, after improving the type of material used, and make a simple change in the form of these categories.

 

"These small groups are the ones that were printed in 2004 and include 250, 500 and 1,000 dinars," said Ihsan al-Yasiri, director of accountancy at the central bank. "Today there is a dire need to pump more into the Iraqi market.

 

He added to the island Net that 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 in the market, and will receive this month shipments of 250 and 500 dinars.

The Central Bank of Iraq changed the image of the Islamic dinar to the category of a thousand dinars and made it a picture of the marshes that were included in the list of world heritage.

 

The move also raised the governor of the Central Bank Ali Al-Alaq to put his name on the currency in addition to signing a kind of controversy in the Iraqi street, and some demanded the House of Representatives to remove this addendum.

 

However, Yasiri considered the move normal, considering that many of the 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 chronicling the Iraqi currency."

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The category of 1000 dinars and the category of 250 dinars, which the Central Bank of Iraq to put quantities of them in the market  (Al Jazeera)

 

 

Lower inflation
The Central Bank of Iraq announced earlier on the development of a project to restructure the local currency and delete three zeros of it, and announced in 2012 the completion of the design of the new currency, but the House of Representatives asked him to lengthen its time, which led to the suspension of the project.

 

"The central bank is the highest monetary authority in the country, which sets monetary policy and supervises the banking sector, who feels the need for such steps," says economist Al-Bayati .

 

According to Bayati, the Iraqi market needs such a step, because there is loss of small groups and the destruction of many of them, which can enhance the market situation and provide the currency required, to facilitate the daily dealings.

 

In addition, the increase in the supply of money lead to lower inflation rates, and give the impression that the monetary situation in the country is good, and the monetary authority to support the economy and improve its reputation globally, he said.

 

Although the exchange rate of the US dollar is currently 1200 Iraqi dinars, the inflation rates are low and the economy is "quite solid".

 

Al-Bayati pointed out that this is often subject to the need of the market and social acceptance as well. These coins were traded in Iraq until the early 1990s disappeared due to the economic siege and the accompanying inflation. However, the return to it Today looks "very difficult".

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Many Iraqi banks refuse to receive small groups of currency from the public on the grounds that it may be torn or obsessed with writing(European)

 

 

Financial corruption
According to Professor of Economics at the University of Iraq Abdul Rahman Mashhadani that one of the factors of corruption  suffered by Iraq in recent years is the disappearance of small currencies of the markets, as these groups have not been replaced since the printing in 2004, except for small quantities put on the market in 2013 but not Satisfy the need.

These small groups in markets are often torn or discarded, which most banks refuse to receive.

 

While these banks themselves often receive the salaries of employees in these categories, forcing them to change them in the banking offices in currencies that are negotiable with a difference in price, leading to a loss of part of their value.

 

According to Mashhadani, the Iraqi currency is affected by fluctuations in the exchange rate of the dollar, which made the smuggling of the dollar to Iran and Turkey in recent times affect the Iraqi currency, because the weakness of the dollar in the market lead to higher exchange rate.

 

The Iraqi Central Bank is trying to remedy this by injecting between 150 and 165 million dollars a day, and has recently reached 190 million dollars, about 50% of which fled to Iran, he said.

 

Mashhadani confirms that without these treatments to link the exchange rate of the Iraqi dollar to 1,300 dinars instead of the current price 1200.top-page.gif

Source: Al Jazeera
 
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Economist: Putting the name of the governor on the currency is universally recognized


 10th October, 2018

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The economic expert Hussein al-Khakani said Wednesday that the issue of placing the name of the governor and signing it is universally recognized, while stressed the need to shine with the issuance of small currency

Al-Khakani said in a statement to the "Trend News" and viewed by "Economy News", that the national currency is constantly exposed to damage and the Central Bank of Iraq sets up cash collections ready to be replaced with the damaged currency after the reference with red ink certain and put numbers for the new currency and then put it In markets

He added that the new edition of the currency takes the date of issuance and the signature of the governor as is the case in all central banks in all countries of the world, noting that the central bank is responsible for the currency currency in the country and since the history of the Iraqi state so far find some governors put his name and signature and some others just add To sign

The economist pointed out that "there is no legal issue on the subject of signing the currency currency as it must bear the signature of a governor of the Central Bank

"The Central Bank of Iraq has taken two steps recently is the first to issue a new edition of the value of 1000 dinars, which was made to change the Koranic verse and put another picture of the marshes listed in the UNESCO World Heritage List

He added: The second edition of 100 dinarswhich is of the economic aspect is very important that the smallest currency in the country is 250 dinars and when buying small purchases by the facilitators less than 250 there is no smaller currency to return to the consumer by the seller and this causes extensive financial damage to the consumer

Al-Khakani stressed the need to activate small currencies as it will generate economic and financial benefit for the Iraqi consumer, including the category of 50 dinars

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25 minutes ago, DinarThug said:

He added: The second edition of 100 dinarswhich is of the economic aspect is very important that the smallest currency in the country is 250 dinars and when buying small purchases by the facilitators less than 250 there is no smaller currency to return to the consumer by the seller and this causes extensive financial damage to the consumer

Al-Khakani stressed the need to activate small currencies as it will generate economic and financial benefit for the Iraqi consumer, including the category o50 dinars

Me likey....... now just add the 20,10,5 and 1 throw a 3:1 or 1.20 :1 purchasing power on that bad boy and let’r Rip! 

Edited by NEPatriotsFan1
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