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CBI calls for the government to protect the local currency of the "mafias" fraud


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CBI calls for thegovernment to protect the local currency of the "mafias" fraud

26/08/2011 12:09

Baghdad, August 26 / August (Rn) - A Central Bank of Iraq,Friday, the government of protecting the local currency of the mafiasspecialized may rigged to block the project for restructuring the currencyinformation disclosed by the government's economic adviser.

He was economic adviser to the Iraqi government AbdulHussein Al-Anbuge has revealed to the media, local, on Friday the existence ofmafias are trying to breach the local currency during the project restructuringcarried out by the CBI.

The deputy governor of the Central Bank of the appearance ofMohammed Saleh told the Kurdish news agency (Rn) that "the Iraqigovernment to pursue a claim mafias are trying to exploit the currencyrestructuring the currency viscous tens of billions of dinars counterfeit"as was disclosed by an economic adviser to the government.

He added that "the central bank does not have thepresence of mafias Chan currency because that is a specialty security servicesand which is supposed Manmmha track and expose such mafia before the launch ofthe restructuring of the currency."

He explained that "the economic security of the Iraqigovernment allocated and not allocated from the central bank to draw it only onmonetary policy in the country."

The main tasks of the Iraqi Central Bank to maintain pricestability and the implementation of monetary policy, including exchange ratepolicies, and management of reserves of foreign currency, and the issuance ofcurrency management, as well as to regulate the banking sector.

The Iraqi Central Bank announced in June 22 last he decidedto restructure the local currency in order to develop the payment system in thecountry.

And the International Monetary Fund expressed its supportfor the Iraqi economy in the event of his number of economic measures includingthe privatization of banks and raise three zeroes from the local currency andto meet debt and compensation is the responsibility of Iraq.

The Iraqi government has denied any change in the localcurrency this year to reduce inflation.

The local Iraqi currency has gone through several changes inits history, most recently in 2004 when the former Governing Council replacedthe previous currency, which was the symbol of the former regime.

http://www.aknews.com/ar/aknews/2/259026/

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They released Tons of these articles before the previous Exchange of old currency to new....and then they used those articles as a basis for closing the borders and doing an 'in country only' exchange....

Just saying.....those of you holding 'cash in hand' better be prepared that you may never be able to exchange it....i mean, hope that you will...But be prepared that the odds say you wont'

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The Iraqi government has denied any change in the localcurrency this year to reduce inflation.

- The government of IRAQ does not want wealth to come to the IRAQI people .These people are by nature POWER HUNGRY and WAR MONGERS and want to keep the citizens meager and subservient while the people in power fill their pockets!!!!!!!!!!

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They released Tons of these articles before the previous Exchange of old currency to new....and then they used those articles as a basis for closing the borders and doing an 'in country only' exchange....

Just saying.....those of you holding 'cash in hand' better be prepared that you may never be able to exchange it....i mean, hope that you will...But be prepared that the odds say you wont'

I disagree. The likelihood of fraud or counterfeiting by speculators or governments outside of Iraq is slim to none, IMO. Our dinar will be verified. This problem is with the currency inside of the country.

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THIS IS BL'S TAKE ON THE ARTICLE...I always like to hear her thoughts on articles!

i hear the train a commin its rollin round the bend, shabibi is the conductor on this long ride ive been, just a waitin on the day, i can cash mah deenar in lol and i dont think we have long to wait either 7 years been a long long time for me but this trains about to pull into the station and nothins gonna stop it now not mafia thugs or iran , iraq has a destiny it was written years ago and iraqs about to grow up and be accountable...imo, hold tight were almost there ..BondLady

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Thanks Sara.

I am trying to figure out what word "mafia" is supposed to be. That is the problem with translations...it leaves us wide open to speculation as to what they really mean.

My son is joining the Army in January.....I keep telling him he needs to learn Arabic :lol:

Organized crime. There were some articles recently about the 10,000 banknotes being counterfeited. It's a big problem, but they state the quality of the counterfeit notes is poor and is not of major concern. Can't find that article... perhaps some one can?

;)

Edited by BlueOrchid919
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Organized crime. There were some articles recently about the 10,000 banknotes being counterfeited. It's a big problem, but they state the quality of the counterfeit notes is poor and is not of major concern. Can't find that article... perhaps some one can?

;)

Hey Blue,

I was thinking the same thing regarding the quality of the fake notes. The security features on those notes are world class. I can't imagine many have the capabilities to manufacture passable fakes.

Do you think the problem may be with the ability for those making legit transactions with these note to identify the fakes? The quality may be poor, but the detection ability may be poor as well.

I think there was an article about counterfeiters sticking fake notes in stacks of real ones.

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Organized crime. There were some articles recently about the 10,000 banknotes being counterfeited. It's a big problem, but they state the quality of the counterfeit notes is poor and is not of major concern. Can't find that article... perhaps some one can?

;)

Thank you!! I will do....what is that called???.....oh yeah...Research :P

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Hey Blue,

I was thinking the same thing regarding the quality of the fake notes. The security features on those notes are world class. I can't imagine many have the capabilities to manufacture passable fakes.

Do you think the problem may be with the ability for those making legit transactions with these note to identify the fakes? The quality may be poor, but the detection ability may be poor as well.

I think there was an article about counterfeiters sticking fake notes in stacks of real ones.

If I remember correctly, one the those news articles stated that the 10K notes were being used in the street. The Iraqis are not knowledgeable enough to know what is counterfeit or not. That is where much of the in country problem lies. They're identified when they finally make it to the banks. This is yet another powerful reason why the CBI wants to create new currency and get it distributed.

You're right, the current banknotes are pretty much tamper proof. Shabibi has stated the new currency will be as well.

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