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Proposal to digitally reintroduce small denominations

yota691

By yota691,
in Iraq & Dinar Related News

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yota691 Grand Master

yota691

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 Baghdad: Mustafa Al-Hashemi
 
The expert in economic affairs, Dr. Hussein Al-Khaqani, suggested to the Central Bank to digitally reintroduce small denominations, which would provide sums for the public, after amending the digital banking system. Al-Khaqani said that {small cash denominations, which are less than 250 dinars, if they are collected and accumulated annually, the citizen will get good savings from them, instead of wasting them on buying goods that are not worth their real value. 
The 250 dinars. He pointed out that {the records of government departments used to contain parts of the 250 dinars currency, but they were settled and made into the currently circulating cash denominations, as imposed by reality, transactions and the public's acceptance of them.
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screwball Grand Master

screwball

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9 hours ago, yota691 said:
 
 Baghdad: Mustafa Al-Hashemi
 
The expert in economic affairs, Dr. Hussein Al-Khaqani, suggested to the Central Bank to digitally reintroduce small denominations, which would provide sums for the public, after amending the digital banking system. Al-Khaqani said that {small cash denominations, which are less than 250 dinars, if they are collected and accumulated annually, the citizen will get good savings from them, instead of wasting them on buying goods that are not worth their real value. 
The 250 dinars. He pointed out that {the records of government departments used to contain parts of the 250 dinars currency, but they were settled and made into the currently circulating cash denominations, as imposed by reality, transactions and the public's acceptance of them.

With all the talk about changing and floating the rate here we have an article talking about small denominations and all we get are smiles and emojis? LOL

Edited by screwball
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Wiljor Rising Star

Wiljor

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"The expert in economic affairs, Dr. Hussein Al-Khaqani, suggested to the Central Bank to digitally reintroduce small denominations, which would provide sums for the public, after amending the digital banking system"

The introduction of lower denom notes, be it digitally or physically, coincides with the financial reform operation currently underway. 

So much talk of Exchange rate changes and now this, perhaps "when" is closer then we think DV, and, while oil is hovering near 70usd pb, and the budget set at a pb rate of 45usd, perhaps Kazemi is looking to guarantee his seat for another term by adjusting the rate before elections. :twothumbs:

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rvmydinar Grand Master

rvmydinar

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12 hours ago, yota691 said:
 
 Baghdad: Mustafa Al-Hashemi
 
The expert in economic affairs, Dr. Hussein Al-Khaqani, suggested to the Central Bank to digitally reintroduce small denominations, which would provide sums for the public, after amending the digital banking system. Al-Khaqani said that {small cash denominations, which are less than 250 dinars, if they are collected and accumulated annually, the citizen will get good savings from them, instead of wasting them on buying goods that are not worth their real value. 
The 250 dinars. He pointed out that {the records of government departments used to contain parts of the 250 dinars currency, but they were settled and made into the currently circulating cash denominations, as imposed by reality, transactions and the public's acceptance of them.

This is just someone opinion and it wasn't coming directly from the cbi itself. I amn't going to get excited yet.  Since when has the cbi ever listened to what the expert  ( or someone opinion ) has to say.

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Laid Back Veteran

Laid Back

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 Statement from ministry of finance;

“Ali Abdul Amir Allawi confirmed on Thursday that he supports floating the currency in a flexible manner.”

 

Statement from Adviser to the Prime Minister:

“The 2022 budget will be distinguished by something important, and we do not rule out surprises”

 

So, if they are planning to float the currency in a flexible manner, they will need lower denomination notes.

 

Go Iraq 

Go reforms 

Go float

Go lower denomination notes 

Go purchasing power 

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Engine1 Collaborator

Engine1

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4 minutes ago, horsesoldier said:

Great article, however, we know how they love to talk an issue into the ground, dig it back up then begin again. Not saying this is the case: I’ll get excited when I walk into the Bank for that “ special chat “

I will get excited when I walk out of the bank with more money than i walked in with, ( a lot more )  I just dont get excited about this investment anymore

 

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Engine1 Collaborator

Engine1

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2 hours ago, PrehistoricMan said:

 

Nope.  You already declared this will never RV so why would you go to a bank?

I have to tell ya something, I got into this back in 2005, it and been the same ol crap for years,  I guess I am here to keep people grounded if you dont like my.post. I really dont care. Really really I dont care. So move on to someone's post that cares what you think. Actually i dont care what anybody cares, i will voice my.opinion and if people dont like it ( ((((( i dont care )))))  

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Artitech Grand Master

Artitech

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12 minutes ago, Engine1 said:

I have to tell ya something, I got into this back in 2005, it and been the same ol crap for years,  I guess I am here to keep people grounded if you dont like my.post. I really dont care. Really really I dont care. So move on to someone's post that cares what you think. Actually i dont care what anybody cares, i will voice my.opinion and if people dont like it ( ((((( i dont care )))))  

Don't worry about his comments!  He is our new resident KNOTHEAD! jmho! 🤠

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screwball Grand Master

screwball

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It doesn’t matter who’s saying it it’s all part of the education program...he’s saying that it doesn’t make sense to pay 25000dinar for a loaf of bread when they should be paying 6 Dinar. This means lower denoms and change in country pricing...also this can relate to the article about wages and salaries changing.....education !!!!!

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Longtimelurker Grand Master

Longtimelurker

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5 hours ago, dinarham said:

It looks like a $10 note . If you blow the image up ,some very fine and intricate details are apparent . What sicko would go to this length just to freak with people ?

Did you notice what could be a clock on that bill? What time is it? 10:20? 9:20? 

Oct 20th/Sept 20th??

Hmmmm...

 

10/24 is a Sunday.. is it 10:24??

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GreedyDinar07 Community Regular

GreedyDinar07

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Artitech, I agree, we have been here for 10 plus years and it just the same ole talk and repost.... the only hope they have is Al-khdemi... he has done more than all of the other PM’s combine.... that’s the only reason I have a lil hope that this could happen. The question is how much longer. If he wins the elections I think we have a shot at it. I don’t get excited about it... I  can understand about the newbies being excited... been there... done that....

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dinarham Experienced

dinarham

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1 hour ago, Longtimelurker said:

Did you notice what could be a clock on that bill? What time is it? 10:20? 9:20? 

Oct 20th/Sept 20th??

Hmmmm...

 

10/24 is a Sunday.. is it 10:24??

      I thought 10:20 as well . There is certainly some fine printing going on here . What's up with the "9" numbers scribbled across the clock? Makes me think it's a prototype .

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