yota691 Posted October 1, 2020 Report Share Posted October 1, 2020 Small denominations of banknotes October 01, 2020 The Central Bank of Iraq decided, and based on the minutes of the Currency Affairs Committee meeting No. (6) for the year 2020 held on 9/23/2020 Re-impose a shortage fine on the small denominations ( 1000 , 500 , 250 ), starting from the date of 1/10/2020 and according to the instructions of the standards for circulation and replacement of banknotes and the mechanisms of counting and sorting. 4 12 Quote Link to comment Share on other sites More sharing options...
DWS112 Posted October 1, 2020 Report Share Posted October 1, 2020 1 hour ago, yota691 said: ( 1000 , 500 , 250 ), starting from the date of 1/10/2020 and according to the instructions of the standards for circulation and replacement of banknotes Setting the stage for the 1, 1/2 and 1/4 dinar notes? 4 3 6 Quote Link to comment Share on other sites More sharing options...
Johnny Dinar Posted October 1, 2020 Report Share Posted October 1, 2020 Now we're talking.... 2 6 Quote Link to comment Share on other sites More sharing options...
Half Crazy Runner Posted October 1, 2020 Report Share Posted October 1, 2020 2 hours ago, yota691 said: small denominations ( 1000 , 500 , 250 ), Or approximately .80¢, .40¢, .20¢ Not worth the cost of printing at the current rate ... 1 4 Quote Link to comment Share on other sites More sharing options...
rvmydinar Posted October 1, 2020 Report Share Posted October 1, 2020 This articles is directly from the cbi. This is getting good but i am not going to get excited yet. Wait a minute. This is iraq i am talking about. Cbi just talks but i haven't seen the action yet. I just hope this time no more talking, no more BS, no more game and no more delay. Go rv. 1 2 2 4 Quote Link to comment Share on other sites More sharing options...
rvmydinar Posted October 1, 2020 Report Share Posted October 1, 2020 The cbi just talks. When cbi already talks means the cbi already make a promise. When cbi already makes a promise, the cbi better keep the promise. I believe it when i see how the cbi will keep the promise. Go rv. 2 1 Quote Link to comment Share on other sites More sharing options...
Spartakus Posted October 1, 2020 Report Share Posted October 1, 2020 What is this article really saying? 2 Quote Link to comment Share on other sites More sharing options...
Fred70 Posted October 1, 2020 Report Share Posted October 1, 2020 Hmmm I hope this is not a Lop. 1 1 Quote Link to comment Share on other sites More sharing options...
yota691 Posted October 1, 2020 Author Report Share Posted October 1, 2020 After research on DV, on the small categories the last time this subject was brought up it was replacing these notes, due to burns and damages notes. 4 2 Quote Link to comment Share on other sites More sharing options...
Half Crazy Runner Posted October 1, 2020 Report Share Posted October 1, 2020 20 minutes ago, yota691 said: After research on DV, on the small categories the last time this subject was brought up it was replacing these notes, due to burns and damages notes. Thanks yota! Does that mean these denominations are already in circulation? Quote Link to comment Share on other sites More sharing options...
Johnny Dinar Posted October 1, 2020 Report Share Posted October 1, 2020 What are the denominations in the picture? I couldn't tell with my old eyes... LOL Quote Link to comment Share on other sites More sharing options...
cws Posted October 1, 2020 Report Share Posted October 1, 2020 5 hours ago, yota691 said: Small denominations of banknotes October 01, 2020 The Central Bank of Iraq decided, and based on the minutes of the Currency Affairs Committee meeting No. (6) for the year 2020 held on 9/23/2020 Re-impose a shortage fine on the small denominations ( 1000 , 500 , 250 ), starting from the date of 1/10/2020 and according to the instructions of the standards for circulation and replacement of banknotes and the mechanisms of counting and sorting. A lot of us have those denominations. Not small enough yet to get excited. Quote Link to comment Share on other sites More sharing options...
Half Crazy Runner Posted October 1, 2020 Report Share Posted October 1, 2020 44 minutes ago, Johnny Dinar said: What are the denominations in the picture? I couldn't tell with my old eyes... LOL It’s not your eyes, it’s a very blurry pic! But it looks like they are the denominations that the article is talking about - 1,000 500 & 250 1 1 Quote Link to comment Share on other sites More sharing options...
rvmydinar Posted October 1, 2020 Report Share Posted October 1, 2020 6 hours ago, yota691 said: Small denominations of banknotes October 01, 2020 Re-impose a shortage fine on the small denominations ( 1000 , 500 , 250 ), starting from the date of 1/10/2020 and according to the instructions of the standards for circulation and replacement of banknotes and the mechanisms of counting and sorting. The title is " small denomination of banknotes ". According to the title, I am curious are iqd 1,000 ,500 , 250 already called small denomination of bills? Or does the cbi try to disguise the real new denomination of bills on purpose until the right time to suddenly announce the iraq citizens to exchange old dinar for a new lower denomination of bills. Only time will tell. Go rv. 2 1 Quote Link to comment Share on other sites More sharing options...
yota691 Posted October 2, 2020 Author Report Share Posted October 2, 2020 Same notes. from the CBI... The central bank eliminates the fine for shortage of deposits of small groups to banks September 23, 2019 In its endeavor to cover the market need of new notes for small denominations (250, 500, 1000), the Central Bank of Iraq decided to cancel the fine that may appear in the deposits of banks approved by this bank of small cash denominations for a limited period, in order to achieve the desired goal of withdrawing the currency Damaged in circulation This bank would also like to show that the counting and sorting of damaged banknotes for these categories requires time and effort from the specialized employees due to the difficulty of counting them in the counting and sorting machines. The Central Bank of Iraq information Office 2019/9/23 2 2 Quote Link to comment Share on other sites More sharing options...
yota691 Posted October 2, 2020 Author Report Share Posted October 2, 2020 8 hours ago, Johnny Dinar said: What are the denominations in the picture? As your Ole Joe Biden stated it.... Come on Man!!! It clearly states 250, 500 and the 1000 in the article. 5 6 1 Quote Link to comment Share on other sites More sharing options...
Laid Back Posted October 2, 2020 Report Share Posted October 2, 2020 10 hours ago, rvmydinar said: The title is " small denomination of banknotes ". According to the title, I am curious are iqd 1,000 ,500 , 250 already called small denomination of bills? Or does the cbi try to disguise the real new denomination of bills on purpose until the right time to suddenly announce the iraq citizens to exchange old dinar for a new lower denomination of bills. Only time will tell. Go rv. rvmydinar, I agree with you, the cbi is trying to disguise the real new denomination of bills on purpose until the right time to suddenly announce the iraq citizens to exchange old dinar for a new lower denomination of bills. Go RV Go asap 10/4 🙏🏼 2 2 11 Quote Link to comment Share on other sites More sharing options...
yota691 Posted October 3, 2020 Author Report Share Posted October 3, 2020 The central bank imposes a fine on the shortage of small groups Saturday 03 October 2020 9 Baghdad: Morning The Central Bank of Iraq decided to re-impose a shortage fine on banks on the small categories of (1000,500,250) dinars, starting from the date of 10/1/2020, according to the instructions for the standards of circulation and replacement of banknotes, and the mechanisms of counting and sorting. In a statement followed by Al-Sabah, the bank stated that this came, based on the minutes of the Currency Affairs Committee meeting No. (6) for the year 2020 held on 9/23/2020. The Central Bank had earlier addressed all licensed banks regarding instructions and standards for the circulation and replacement of banknotes and the mechanisms of counting and sorting. "Due to lack of commitment to the instructions and standards for the circulation of banknotes, their replacement and the counting and sorting mechanisms, we confirm what was stated in the book of the Department of Issuance and Treasury / Department of Banking and Conformity Follow-up / Banking Follow-up Division numbered 12/8/1470 and dated 10/4/2018, noting that The extent of your banks' compliance with the above will be monitored through inspection bodies and on-site inspection. On the other hand, the Central Bank of Iraq participated in the meetings of the Board of Directors of the Arab Monetary Fund, and the Board of Directors of the Arab Trade Financing Program, each separately. The bank discussed with the member states of the Arab Monetary Fund’s board of directors issues that support joint Arab action, most notably the "Arab Payments and Clearing System" Buna "and its importance in facilitating inter-Arab payments and financial transfers. While the meetings of the Board of Directors of the Arab Trade Financing Program included discussions on mechanisms for re-arranging funding priorities for the national agencies organizing the program, in a manner that helps mitigate the effects of the Corona pandemic on Arab trade. 1 1 Quote Link to comment Share on other sites More sharing options...
yota691 Posted October 3, 2020 Author Report Share Posted October 3, 2020 He called for intensifying efforts ... The Central Bank participates in two Arab meetings September 29, 2020 The Central Bank of Iraq participated separately in the meetings of the Board of Directors of the Arab Monetary Fund and the Board of Directors of the Arab Trade Financing Program. Where the bank discussed with members of the Fund Board states of the Arab Monetary topics to support the joint Arab action , most notably the " payments system of the Arab and clearing " structures "and its importance in facilitating payments and financial transfers of inter - Arab." While the meetings of the Board of Directors of the Arab Trade Financing Program included discussions on mechanisms for re-arranging funding priorities for the national agencies organizing the program, in a manner that helps mitigate the effects of the Corona pandemic on Arab trade. The Central Bank of Iraq information Office 2020/9/29 1 1 Quote Link to comment Share on other sites More sharing options...
yota691 Posted October 3, 2020 Author Report Share Posted October 3, 2020 11 hours ago, yota691 said: "Arab Payments and Clearing System" Buna "and its importance in facilitating inter-Arab payments and financial transfers. 02 JUL'2020 THE ARAB MONETARY FUND LAUNCHES BUNA PAYMENT PLATFORM Abu Dhabi, United Arab Emirates, February 23, 2020. The Arab Monetary Fund (AMF) launched a regional payment platform Buna that enables regional financial institutions to send and receive cross-border payments across the Arab region and beyond in Arab currencies, as well as key international currencies, in an efficient, cost-effective, risk-controlled, and transparent environment. The platform comes as a culmination of months of planning and collaboration with global and regional stakeholders and provides members with modern payment platform compliant with international standards, according to AMF. The Buna system is based on CMA’s RTS/X product installed in dozens of Central banks around the world. CMA took part in the Buna project as a partner of DXC company. Quote Link to comment Share on other sites More sharing options...
yota691 Posted October 3, 2020 Author Report Share Posted October 3, 2020 Arab states finalize regional payment and settlement system File photo of a man counting Egyptian currency at an exchange office in Cairo, Egypt. (AP) Reuters, Abu DhabiSunday 22 April 2018 Arab countries have finalized plans to create an independent, regional cross-border payments system after current arrangements were hit by a rise in compliance costs and downsizing by some international banks. At present, many cross-border payments and settlements among Arab countries are carried out by correspondent banks, which act as agents for foreign financial institutions that do not have a local presence in a given country. A tightening of anti-money laundering rules by US and European banks in the last several years has added to the cost of this practice, while some banks have quit the market to focus on more lucrative areas. The board of the Arab Monetary Fund (AMF), which has 22 member-countries ranging from Gulf states to Sudan and Morocco, approved the creation of an independent regional body to clear and settle payments among them, the AMF said on Sunday. It did not specify when the system would go live, but AMF officials said earlier that they expected the system to be in operation by 2020. The new body, supported by Arab central banks, will have capital of $100 million and be owned by the AMF. “The aim of the entity is to promote the use of local currencies in intra-Arab payments clearing and settlement transactions, alongside main international currencies,” the AMF said. Quote Link to comment Share on other sites More sharing options...
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