Dinar News CBI - The foreign exchange abroad (draft) and seek to erase the zeros from the dinar

[k98nights]

[/sIالأربعاء, 27 يناير 2010 09:27 Wednesday, January 27th, 2010 09:27

أعتبر البنك المركزي العراقي، اليوم الأربعاء، عمليات تحويل العملات الأجنبية إلى خارج العراق "عملاً مشروعاً"، فيما أكد سعيه لإلغاء أصفار من الدينار العراقي. Take the CBI, on Wednesday, transfers of foreign currency out of Iraq "a legitimate act," while seeking to cancel confirmed zeros from the Iraqi dinar.

وقال مستشار محافظ البنك المركزي ومدير عام الإحصاء مظهر محمد صالح إن "عملية التحويل الخارجي للعملات الإجنبية تأتي طبقاً لعملية التحول من النظام الشمولي، إلى النظام الاقتصادي الحر"، مبينا أن "هذا الأمر يعد من الحقوق الاقتصادية للمواطنين التي يكفلها لهم القانون". The adviser said the central bank governor and general manager of statistical appearance of Mohammed Saleh said that "the conversion process outside of the foreign exchange came in accordance with the transition from totalitarian regime to a free economic system", stating that "This is one of the economic rights of citizens which are guaranteed under the law."

وأوضح صالح أن "لدى البنك المركزي العراقي لجانا مختصة بمكافحة غسل الأموال وأموال الجريمة وتمويل الإرهاب، وما عدا ذلك يعتبر عملاً شرعياً"، حسب قوله. Saleh pointed out that "the CBI committees involved in combating money laundering and proceeds of crime and terrorist financing, and otherwise is an act of legitimate," he said. ZE]وكان قانون مكافحة غسيل الأموال العراقي لعام 2004 وضع الإجراءات الرقابية الواجبة على المؤسسات وخصوصا المصرفية منها. The law against money laundering Iraqi development of procedures in 2004 due to regulatory institutions, especially banking ones.

وأضاف صالح أن "عملية تحويل الأموال، من قبل المواطنين إلى الخارج، عن طريق الحوالات هي لتمويل تجارة القطاع الخاص العراقي، وليس لادخارها في البنوك الأجنبية، لقلة الفائدة التي تمنحها المصارف العراقية مقارنة بالمصارف الأجنبية". Saleh added that "the transfer of funds, by citizens abroad, through the remittances is to finance the trade of Iraqi private sector, not for reserves in foreign banks, the lack of interest granted by the Iraqi banks compared to foreign banks."

وتابع مستشار محافظ البنك المركزي أن "البنك المركزي العراقي يعتبر الوحيد في العراق، الذي يقوم بعمليات تمويل القطاع الخاص العراقي والتجار من العملة الصعبة، عبر المزاد اليومي الذي يجريه". He said Advisor to the Governor the Central Bank that "the Central Bank of Iraq is only in Iraq, which is conducting the financing of the Iraqi private sector and traders in foreign currency, through auction conducted by the daily."

وأكد صالح أن "المزاد استطاع أن يحافظ على سعر صرف الدينار العراقي، لمدة أربع سنوات من غير تقلبات، فضلا عن أن المزاد أدى إلى امتصاص السيولة النقدية الفائضة، وهو ما انعكس إيجاباًَ على استقرار الأسعار"، مبيناً ن "الدينار العراقي أصبح قوياً جداً، وأن قوة الاحتياطي النقدي تتصاعد، ما سينعكس على الأداء الإيجابي لمواجهة أي أزمة قد تحدث مستقبلاً"، حسب قوله. Salih stressed that "The auction was able to maintain the Iraqi dinar exchange rate, for a period of four years of non-volatility, as well as the auction has to absorb excess liquidity, which is reflected positively on the price stability," indicating n "of the Iraqi dinar has become very strong, The strength of rising foreign exchange reserves, would be reflected on the positive performance to cope with any crisis that may occur in the future ", he said.

وينظم البنك المركزي جلسات مزاد يومياً، عدا أيام الجمع والعطل الرسمية، وبمشاركة المصارف العراقية، وتتم فيها عمليات بيع وشراء العملات الأجنبية، ويقوم البنك المركزي بعملية تحويل العملات المباعة إلى الخارج، لبعض الشركات والمواطنين مقابل عمولة معينة. Regulated by the central bank auction sessions a day, except Fridays and official holidays, and the participation of Iraqi banks, and within which buying and selling foreign currencies, the central bank sold currency conversion process to the outside, for some companies and citizens for a certain commission.

من جهته قال الخبير الاقتصادي فلاح حسن علوان إن "خروج العملة عن طريق الحولات خلال المزاد له جانب إيجابي وآخر سلبي". For his part, the economic expert Falah Hassan Alwan said "get out the currency remittance through the auction has a positive side and a negative."

وأوضح علوان أن "الجانب الإيجابي يتمثل بتحريك الاقتصاد العراقي، من خلال تشجيع القطاع الخاص، والقيام بالمشاريع، فيما أن الجانب السلبي يتمثل بقيام بعض الشركات بعمليات غسيل للأموال". Alwan explained that "the positive side is to move the Iraqi economy, by encouraging the private sector and entrepreneurship, while the downside is the fact that some companies out of money laundering."

ودعا علوان البنك المركزي العراقي إلى "وضع قانون يجبر المصارف، التي يتعامل معها على تحديد المبالغ المالية، التي تحولها للخارج، من أجل توظيف الأموال، وأن تتم التحويلات تحت رقابة وإشراف البنك المركزي العراقي". Alwan called on the Iraqi Central Bank to "pass a law forcing banks, with which to determine the amount of money, which turned out, for the employment of funds, and transfers to be made under the control and supervision of the Central Bank of Iraq."

في سياق آخر، قال مستشار محافظ البنك المركزي العراقي إن "مشروع إلغاء بعض الأصفار من الدينار العراقي، يعتبر من أولويات البنك المركزي العراقي، من أجل إصلاح العملة وتنظيمها". In another context, "said Advisor to the Governor Central Bank of Iraq that" the proposal to cancel some of the zeros of the Iraqi dinar, is one of the priorities of the Central Bank of Iraq, to reform the currency and organizing it. "

وأوضح صالح أن "الحروب الماضية التي خاضها العراق، تسببت بارتفاع وتضخم في الكتلة النقدية من 25 مليار دينار في عام 1980 إلى 23 ترليون دينار حاليا"، مؤكداً أن "البنك المركزي العراقي يسير في اتجاه محو أصفار العملة بشكل هادئ، لتلافي حصول مشاكل مستقبلا". Saleh pointed out that "past wars fought by Iraq, has caused the rise and inflation in the money supply of 25 billion dinars in 1980 to 23 trillion dinars now," asserting that "the Central Bank of Iraq moving in the direction of literacy zeros currency quietly, to avoid problems for the future" .

يذكر أن البنك المركزي العراقي، ومقره الرئيسي في بغداد ولديه أربعة فروع في البصرة والسليمانية وأربيل والموصل، أسس كبنك عراقي مستقل بموجب قانون البنك المركزي العراقي الصادر في 6 آذار 2004، ويكون مسؤولاً عن الحفاظ على استقرار الأسعار وتنفيذ السياسة النقدية بما فيها سياسات أسعار الصرف وإدارة الاحتياطات الأجنبية وإصدار وإدارة العملة، إضافة إلى تنظيم القطاع المصرفي. The CBI, with headquarters in Baghdad and has four branches in Basra and Sulaymaniyah, Irbil and Mosul, he founded the bank under the law of an independent Iraqi Central Bank of Iraq issued on 6 March 2004, and shall be responsible for the maintenance of price stability and the implementation of monetary policy, including exchange rate policies and management foreign reserves and the issuance of currency management, as well as to regulate the banking sector.

http://translate.google.com/translate?u=http%3A%2F%2Fwww.alrafidayn.com%2F&sl=ar&tl=en&hl=&ie=UTF-8

[1palmetto]

Well if this is true then its a lop for sure. Bummer.

[Soldier]

Looks like a LOP is in the works. I guess all the intel that people were getting was all wrong. Maybe Im not reading this correctly or interpreting incorrectly. One thing I did get out of this is a RV is not immenate are even being considered in the present. I'll hang on to my dinar just in case though. lol

[terr]

Maybe just one zero, could be, that would still work for us, and for them IMO

[k98nights]

This article really took the wind out of my sails this morning. I hope it's not true.

[wil]

[/sIالأربعاء, 27 يناير 2010 09:27 Wednesday, January 27th, 2010 09:27

أعتبر البنك المركزي العراقي، اليوم الأربعاء، عمليات تحويل العملات الأجنبية إلى خارج العراق "عملاً مشروعاً"، فيما أكد سعيه لإلغاء أصفار من الدينار العراقي. Take the CBI, on Wednesday, transfers of foreign currency out of Iraq "a legitimate act," while seeking to cancel confirmed zeros from the Iraqi dinar.

وقال مستشار محافظ البنك المركزي ومدير عام الإحصاء مظهر محمد صالح إن "عملية التحويل الخارجي للعملات الإجنبية تأتي طبقاً لعملية التحول من النظام الشمولي، إلى النظام الاقتصادي الحر"، مبينا أن "هذا الأمر يعد من الحقوق الاقتصادية للمواطنين التي يكفلها لهم القانون". The adviser said the central bank governor and general manager of statistical appearance of Mohammed Saleh said that "the conversion process outside of the foreign exchange came in accordance with the transition from totalitarian regime to a free economic system", stating that "This is one of the economic rights of citizens which are guaranteed under the law."

وأوضح صالح أن "لدى البنك المركزي العراقي لجانا مختصة بمكافحة غسل الأموال وأموال الجريمة وتمويل الإرهاب، وما عدا ذلك يعتبر عملاً شرعياً"، حسب قوله. Saleh pointed out that "the CBI committees involved in combating money laundering and proceeds of crime and terrorist financing, and otherwise is an act of legitimate," he said. ZE]وكان قانون مكافحة غسيل الأموال العراقي لعام 2004 وضع الإجراءات الرقابية الواجبة على المؤسسات وخصوصا المصرفية منها. The law against money laundering Iraqi development of procedures in 2004 due to regulatory institutions, especially banking ones.

وأضاف صالح أن "عملية تحويل الأموال، من قبل المواطنين إلى الخارج، عن طريق الحوالات هي لتمويل تجارة القطاع الخاص العراقي، وليس لادخارها في البنوك الأجنبية، لقلة الفائدة التي تمنحها المصارف العراقية مقارنة بالمصارف الأجنبية". Saleh added that "the transfer of funds, by citizens abroad, through the remittances is to finance the trade of Iraqi private sector, not for reserves in foreign banks, the lack of interest granted by the Iraqi banks compared to foreign banks."

وتابع مستشار محافظ البنك المركزي أن "البنك المركزي العراقي يعتبر الوحيد في العراق، الذي يقوم بعمليات تمويل القطاع الخاص العراقي والتجار من العملة الصعبة، عبر المزاد اليومي الذي يجريه". He said Advisor to the Governor the Central Bank that "the Central Bank of Iraq is only in Iraq, which is conducting the financing of the Iraqi private sector and traders in foreign currency, through auction conducted by the daily."

وأكد صالح أن "المزاد استطاع أن يحافظ على سعر صرف الدينار العراقي، لمدة أربع سنوات من غير تقلبات، فضلا عن أن المزاد أدى إلى امتصاص السيولة النقدية الفائضة، وهو ما انعكس إيجاباًَ على استقرار الأسعار"، مبيناً ن "الدينار العراقي أصبح قوياً جداً، وأن قوة الاحتياطي النقدي تتصاعد، ما سينعكس على الأداء الإيجابي لمواجهة أي أزمة قد تحدث مستقبلاً"، حسب قوله. Salih stressed that "The auction was able to maintain the Iraqi dinar exchange rate, for a period of four years of non-volatility, as well as the auction has to absorb excess liquidity, which is reflected positively on the price stability," indicating n "of the Iraqi dinar has become very strong, The strength of rising foreign exchange reserves, would be reflected on the positive performance to cope with any crisis that may occur in the future ", he said.

وينظم البنك المركزي جلسات مزاد يومياً، عدا أيام الجمع والعطل الرسمية، وبمشاركة المصارف العراقية، وتتم فيها عمليات بيع وشراء العملات الأجنبية، ويقوم البنك المركزي بعملية تحويل العملات المباعة إلى الخارج، لبعض الشركات والمواطنين مقابل عمولة معينة. Regulated by the central bank auction sessions a day, except Fridays and official holidays, and the participation of Iraqi banks, and within which buying and selling foreign currencies, the central bank sold currency conversion process to the outside, for some companies and citizens for a certain commission.

من جهته قال الخبير الاقتصادي فلاح حسن علوان إن "خروج العملة عن طريق الحولات خلال المزاد له جانب إيجابي وآخر سلبي". For his part, the economic expert Falah Hassan Alwan said "get out the currency remittance through the auction has a positive side and a negative."

وأوضح علوان أن "الجانب الإيجابي يتمثل بتحريك الاقتصاد العراقي، من خلال تشجيع القطاع الخاص، والقيام بالمشاريع، فيما أن الجانب السلبي يتمثل بقيام بعض الشركات بعمليات غسيل للأموال". Alwan explained that "the positive side is to move the Iraqi economy, by encouraging the private sector and entrepreneurship, while the downside is the fact that some companies out of money laundering."

ودعا علوان البنك المركزي العراقي إلى "وضع قانون يجبر المصارف، التي يتعامل معها على تحديد المبالغ المالية، التي تحولها للخارج، من أجل توظيف الأموال، وأن تتم التحويلات تحت رقابة وإشراف البنك المركزي العراقي". Alwan called on the Iraqi Central Bank to "pass a law forcing banks, with which to determine the amount of money, which turned out, for the employment of funds, and transfers to be made under the control and supervision of the Central Bank of Iraq."

في سياق آخر، قال مستشار محافظ البنك المركزي العراقي إن "مشروع إلغاء بعض الأصفار من الدينار العراقي، يعتبر من أولويات البنك المركزي العراقي، من أجل إصلاح العملة وتنظيمها". In another context, "said Advisor to the Governor Central Bank of Iraq that" the proposal to cancel some of the zeros of the Iraqi dinar, is one of the priorities of the Central Bank of Iraq, to reform the currency and organizing it. "

وأوضح صالح أن "الحروب الماضية التي خاضها العراق، تسببت بارتفاع وتضخم في الكتلة النقدية من 25 مليار دينار في عام 1980 إلى 23 ترليون دينار حاليا"، مؤكداً أن "البنك المركزي العراقي يسير في اتجاه محو أصفار العملة بشكل هادئ، لتلافي حصول مشاكل مستقبلا". Saleh pointed out that "past wars fought by Iraq, has caused the rise and inflation in the money supply of 25 billion dinars in 1980 to 23 trillion dinars now," asserting that "the Central Bank of Iraq moving in the direction of literacy zeros currency quietly, to avoid problems for the future" .

يذكر أن البنك المركزي العراقي، ومقره الرئيسي في بغداد ولديه أربعة فروع في البصرة والسليمانية وأربيل والموصل، أسس كبنك عراقي مستقل بموجب قانون البنك المركزي العراقي الصادر في 6 آذار 2004، ويكون مسؤولاً عن الحفاظ على استقرار الأسعار وتنفيذ السياسة النقدية بما فيها سياسات أسعار الصرف وإدارة الاحتياطات الأجنبية وإصدار وإدارة العملة، إضافة إلى تنظيم القطاع المصرفي. The CBI, with headquarters in Baghdad and has four branches in Basra and Sulaymaniyah, Irbil and Mosul, he founded the bank under the law of an independent Iraqi Central Bank of Iraq issued on 6 March 2004, and shall be responsible for the maintenance of price stability and the implementation of monetary policy, including exchange rate policies and management foreign reserves and the issuance of currency management, as well as to regulate the banking sector.

http://translate.google.com/translate?u=http%3A%2F%2Fwww.alrafidayn.com%2F&sl=ar&tl=en&hl=&ie=UTF-8

The interpetation I take from this is that they want their three zero currency back....so they can destroy it......OR this is simply smoke and mirrors in order to have dejected Investers turn in their IQD NOW at the lower rate.......either way ..there will BE NO LOP........and this article indicates to me.....we are close

[jocko129]

Uggg bad news

[k98nights]

Here's a similar story from Alsumaria

CBI - seeking to cancel confirmed zeros from the Iraqi dinar ...

"The CBI, with headquarters in Baghdad and has four branches in Basra and Sulaymaniyah, Irbil and Mosul, he founded the bank under the law of an independent Iraqi Central Bank of Iraq issued on 6 March 2004, and shall be responsible for the maintenance of price stability and the implementation of monetary policy, including exchange rate policies and management foreign reserves and the issuance of currency management, as well as to regulate the banking sector"

Wednesday, 27, 2010

Take the CBI, on Wednesday, transfers of foreign currency out of Iraq "a legitimate act," while seeking to cancel confirmed zeros from the Iraqi dinar.

The adviser said the central bank governor and general manager of statistics for the appearance of Mohammed in an interview with "Alsumaria News" that "the process of foreign-exchange foreign currencies came in accordance with the transition from totalitarian regime to a free economic system", stating that "This is one of the economic rights of citizens that guaranteed them by law. "

Saleh pointed out that "the CBI committees involved in combating money laundering and proceeds of crime and terrorist financing, and otherwise is an act of legitimate," he said.

The law against money laundering Iraqi development of procedures in 2004 due to regulatory institutions, especially banking ones.

Saleh added that "the transfer of funds, by citizens abroad, through the remittances is to finance the trade of Iraqi private sector, not for reserves in foreign banks, the lack of interest granted by the Iraqi banks compared to foreign banks."

He said Advisor to the Governor the Central Bank that "the Central Bank of Iraq is only in Iraq, which is conducting the financing of the Iraqi private sector and traders in foreign currency, through auction conducted by the daily."

Salih stressed that "The auction was able to maintain the Iraqi dinar exchange rate, for a period of four years of non-volatility, as well as the auction has to absorb excess liquidity, which is reflected positively on the price stability, "indicating" that the Iraqi dinar has become very strong,

The strength of rising foreign exchange reserves, would be reflected on the positive performance to cope with any crisis that may occur in the future ", he said.

Regulated by the central bank auction sessions a day, except Fridays and official holidays, and the participation of Iraqi banks, and within which buying and selling foreign currencies, the central bank sold currency conversion process to the outside, for some companies and citizens for a certain commission.

For his part, the economic expert Falah Hassan Alwan said "get out the currency remittance through the auction has a positive side and a negative.

The Alwan said in an interview for "Alsumaria News", that "the positive side is to move the Iraqi economy, by encouraging the private sector and entrepreneurship, while the downside is the fact that some companies out of money laundering."

Alwan called on the Iraqi Central Bank to "pass a law forcing banks, with which to determine the amount of money, which turned out, for the employment of funds, and transfers to be made under the control and supervision of the Central Bank of Iraq."

In another context, "said Advisor to the Governor Central Bank of Iraq that" the proposal to cancel some of the zeros of the Iraqi dinar, is one of the priorities of the Central Bank of Iraq, to reform the currency and organizing it. "

Saleh pointed out that "past wars fought by Iraq, has caused the rise and inflation in the money supply of 25 billion dinars in 1980 to 23 trillion dinars now," asserting that ...

"the Central Bank of Iraq moving in the direction of literacy zeros currency quietly, to avoid problems for the future" ...

The CBI, with headquarters in Baghdad and has four branches in Basra and Sulaymaniyah, Irbil and Mosul, he founded the bank under the law of an independent Iraqi Central Bank of Iraq issued on 6 March 2004, and shall be responsible for the maintenance of price stability and the implementation of monetary policy, including exchange rate policies and management foreign reserves and the issuance of currency management, as well as to regulate the banking sector.

Alsumaria News / Baghdad

[k98nights]

The interpetation I take from this is that they want their three zero currency back....so they can destroy it......OR this is simply smoke and mirrors in order to have dejected Investers turn in their IQD NOW at the lower rate.......either way ..there will BE NO LOP........and this article indicates to me.....we are close

Wil I sure hope you are right sir...

Edited January 27, 2010 by k98nights

[allooh]

في سياق آخر، قال مستشار محافظ البنك المركزي العراقي إن "مشروع إلغاء بعض الأصفار من الدينار العراقي، يعتبر من أولويات البنك المركزي العراقي، من أجل إصلاح العملة وتنظيمها". In another context, "said Advisor to the Governor Central Bank of Iraq that" the proposal to cancel some of the zeros of the Iraqi dinar, is one of the priorities of the Central Bank of Iraq, to reform the currency and organizing it. "

وأوضح صالح أن "الحروب الماضية التي خاضها العراق، تسببت بارتفاع وتضخم في الكتلة النقدية من 25 مليار دينار في عام 1980 إلى 23 ترليون دينار حاليا"، مؤكداً أن "البنك المركزي العراقي يسير في اتجاه محو أصفار العملة بشكل هادئ، لتلافي حصول مشاكل مستقبلا". Saleh pointed out that "past wars fought by Iraq, has caused the rise and inflation in the money supply of 25 billion dinars in 1980 to 23 trillion dinars now," asserting that "the Central Bank of Iraq moving in the direction of literacy zeros currency quietly, to avoid problems for the future" .

It says that they are going in the direction of erasing the zeros from the dinar in a quiet manner so as not to have problems in the future.

which leads me to think that they would phase out the large currency by taking it out of circulation as it is being turned in to the banks.

That also means that they must issue more smaller denominations for everyday use.

IMO...To avoid a backlash I think that they would RV at a lower rate and allow a period of 3 months to exchange the large denominations.

Does that make sense?? I hope so!!

P.S. In the first paragraph it says cancel some of the zeros, and the second paragraph says cancel the currencies zeros??

Edited January 27, 2010 by allooh
I left something out

[adnan]

For any currency of bigger denoms, zero lop is only the solution....Ultimately that is going to happen. Hope i am wrong.

[bubbie]

they will not lop period they want to come out an make a statement to the world ! they are a proud people.

[harvf150]

what a roller caoster we are on!

[dinarded]

has caused the rise and inflation in the money supply of 25 billion dinars in 1980 to 23 trillion dinars now," asserting that "the Central Bank of Iraq moving in the direction of literacy zeros currency quietly, to avoid problems for the future" .

Come on guys, wake up. Provided the story is accurate, the CBI will be lopping their currency. End of story; no two ways about it. Period

Further.....lopping the currency protects them from problems in the future as well.

[ALAN EDWARDS]

I think it would be on ......aswat al iraq... And... Al-iraqnews.net sites, if it was going to happen???

It would be on every news site,.....google..iraqi parliament site as well.............just my thinking

[Adam Montana]

anybody who wants to sell their dinars - I'm buying. PM me.

[wusObie]

Wasn't this article posted a couple of months ago and debunked???

[RAB42]

Adam you to funny

[CashDinar]

Where's the link & what was the date printed?

[dinarded]

Where's the link & what was the date printed?

http://www.alrafidayn.com/

That's the site

And this is the "WHO IS"

http://whois.domaintools.com/alrafidayn.com

[mrref]

Go to www.articlesofinterest-kelly.blogspot.com and scroll down to CBI seeking to cancel confirmed zeros from the iraq dinar

[Kevin]

I would like to lop someone in the head!

[kaperoni]

Keep in mind that a RV to get the dinars back would be first, then followed by a LOP to remove zeros for normal usage. I dont think there is any government that would accept a straight LOP first. Were all ok...hang tight.

[k98nights]

I sure didn't mean to start anything with this post today folks... but I felt I had to post it, even if I didn't like it. GO RV!

[lancer22]

There would be some super pis*ed off super powers. They may eventually lop but not now folks. Breath easy and enjoy your day.