that the deletion of three zeros from the local currency will not affect the level of equity investment of external and internal.

[screwball]

CBI, Iraq,ISX, Economists fear the process of lifting the zeros of the Iraqi currency.

Baghdad, March 25 / March (Rn) – The number of Iraqi economists to start deleting the zeros would hinder the development of the Iraqi market for securities because it will cause the reduction of foreign equity to 20% after it experienced during the current year 80%.

He said an economist and professor at the University of Mustansiriya Radi al-Husseini, told the Kurdish news agency (Rn) that “the stock of Foreign Affairs of the Stock Exchange will drop to 20% if the Iraqi Central Bank to raise three zeroes from the local currency, because it is not something organizationally, but beyond that where it causes obstruction financial transactions, including block the signing of an agreement with the brokerage firm, in addition to delay the signing of authorization form with the brokerage firm because foreign investors believe that the change of currency will reduce profits. ”

“The central bank has to choose the right time to delete the zeros of the local currency in coordination with the Iraqi market for securities to avoid any confusion regarding the lifting of banking transactions.”

Authority announced the Iraq Stock Exchange yesterday that the deletion of three zeros from the local currency will not affect the level of equity investment of external and internal.

In turn, the director of the economy and Iraq’s oil Abdul Halim Kazem’s (Rn) announced today that “the decision of the Central Bank of identifying the first of next year’s date for the flow of the new Iraqi dinar is reason to wonder, as he did not use any coordination with the Iraq Stock Exchange regarding the selection of the time to start pumping dinar new. ”

He added that “the Iraq Stock Exchange where the shares have risen this year by 85%, which is good, and this increase comes because of the regulatory policy pursued in attracting foreign equity and the development of the banking sector.”

 

He pointed out that “talk that is not true organizational being included in the infrastructure of the financial dealings and particularly the foreign investors and may cause delay in the development of the opening of financial markets in other provinces of Basra and Arbil.”

And announced that the Securities Commission for enforcement of stop starting from today until next Thursday in response to the holiday announced by the Iraqi government.

According to Executive Director Abdul Razzaq al-Saadi (Rn) that “the deletion of zeros from the local currency no more than is organizational and it will not affect the level of trading stock investment foreign and domestic,” noting that “the continuous coordination with the Central Bank to regulate the process of deleting the zeros and confidence that he will not affect the level of internal and external trading of the shares of stock. ”

[screwball]

This is old article but I thought I would post this again….whiles there has been discussion about revaluation versus Re denomination, Also whether they will delete zeros from rate and remove notes with three zeros I would like to know how will either of these affect the stock market…if they do? 

[screwball]

They are saying no change to liquidity or thats how I interpret the top part! What are your thoughts? Remember banks had to increase capital to be basil 2 and 3 compliant…would revaluation or redenomination strip them of value and liquidity?