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Central Bank: The deletion of zeros aims to tighten banknotes and needs parliamentary legislation

Proven
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Central Bank: The deletion of zeros aims to tighten banknotes and needs parliamentary legislation Empty Central Bank: The deletion of zeros aims to tighten banknotes and needs parliamentary legislation

Post by Proven on Fri 31 May 2019, 9:14 am

Central Bank: The deletion of zeros aims to tighten banknotes and needs parliamentary legislation
2 days ago Iraq
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Ihsan al-Yasiri, director general of the Central Bank, said on Wednesday, May 29, 2019, that "the bank is a very transparent institutions both in the window of selling the currency or the subject of contracts," noting that "the Central Bank is in constant contact with the relevant parliamentary committees and the Central Bank is the only institution that Work every day. "
"The central bank's duty is to maintain the exchange rate and stability to meet the demand that comes on foreign currency against the dinar," he said in an interview with the Noa Dialogue program. "The central bank is responsible for the simple sale of the dollar."
"The Iraqi economy is an import economy and this is not the responsibility of the central bank. It is the duty of the state and the government to fix this structural imbalance and the domestic economy becomes a product for leaving imports," he said.
He pointed out that "there is a defect in the duty of some institutions, but ordinary people believe that this process should be carried out by the Central Bank, and this is not true," explaining that "the central bank contact with banks and the government by keeping accounts."
"The major sin that was committed in 2004 was the abolition of import controls and quality control rules at the border crossings, which made the market full of cheap and cheap imported goods," he said.
As for the incident of corruption of seven billion in the Rafidain Bank, said Yasiri, "The year 2013 saw heavy rains and leaked water to the bank on the street Rashid, which led to damage that money, which was originally intended to damage, and the duty of the Central Bank to replace those papers, The amount of money less than 200 million dinars. "
On the subject of the deletion of zeros, he said that "this administrative process aimed at tightening the banknotes and improve the accounting record in the country was launched in 2012, but there are some objections at the time and need legislation by the House of Representatives."
"The Central Bank has suspicions, the first is to prevent one of the internationally recognized companies from conducting an audit and conduct internal control of the bank in exchange for the placement of Iraqi offices, as these companies are global and stamped recognized worldwide and indicates the lack of money laundering "He said.
"The second thing is that controls the joints of the central bank, usually they are accountants and they basically have offices."
She said that "the independence of the Central Bank and not to the executive power made the government of Nuri al-Maliki dismiss Sinan Shabibi because of his refusal to enter the prime minister to manipulate the reserves of the Central Bank as it represents the stability of the currency and represents the monetary policy in the country and parliament only those who can account and today Parliament is unable to do so.
She stressed that "the status of the head of the Financial Control Bureau governor of the Central Bank is a violation of the constitutional authorities as the regulatory body has become the executive branch."
"The Finance Committee formed three subcommittees to follow up the work of the Central Bank of the first follow-up the issue of building the Central Bank and the second follow the auction of currency and the third follow the issue of the subsidiary currency and therefore if there is evidence will be submitted to the Integrity Commission or the judiciary."
He added that "the issue of scrutiny within the Central Bank can be resolved through the House of Representatives and not raise the issue is due to audits by local companies and anyone who has an interest in this issue must submit to the Finance Committee."


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Central Bank: The deletion of zeros aims to tighten banknotes and needs parliamentary legislation Empty Re: Central Bank: The deletion of zeros aims to tighten banknotes and needs parliamentary legislation

Post by rocky on Fri 31 May 2019, 10:16 am

good upto date article, thanks Proven



maybe added info


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Central Bank: The deletion of zeros aims to tighten banknotes and needs parliamentary legislation Empty Re: Central Bank: The deletion of zeros aims to tighten banknotes and needs parliamentary legislation

Post by Stevethebrit on Fri 31 May 2019, 10:56 am

Always catches my attention when they mention deletion of zero's .
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Post by rocky on Fri 31 May 2019, 2:13 pm

in this article there seems to be at least 3 previous article that made this up, i remember reading 3 previous
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Central Bank: The deletion of zeros aims to tighten banknotes and needs parliamentary legislation Empty Re: Central Bank: The deletion of zeros aims to tighten banknotes and needs parliamentary legislation

Post by azareus on Fri 31 May 2019, 3:37 pm

Seems like recycled?
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Central Bank: The deletion of zeros aims to tighten banknotes and needs parliamentary legislation Empty Re: Central Bank: The deletion of zeros aims to tighten banknotes and needs parliamentary legislation

Post by brian on Fri 31 May 2019, 9:01 pm

of course...
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Central Bank: The deletion of zeros aims to tighten banknotes and needs parliamentary legislation Empty Re: Central Bank: The deletion of zeros aims to tighten banknotes and needs parliamentary legislation

Post by Screwball on Sat 01 Jun 2019, 6:44 am

Some tidbits for you that I have put together from articles 

Deputy Governor of the Central Bank of the appearance of Mohammed Saleh, the readiness of the bank to start the process of removing three zeroes from the currency, noting that the objections [are incorrect] on that just Cecchekat is incorrect.

Saleh said (of the Agency news): The project is integrated and all concerned in the government support him and there is no one against him, and who object to this project is skeptical of the ability of the central bank to implement it.

The Central Bank of Iraq announced (29 September 2011) that the year 2013 will see the deletion of zeros and switch the currency,

Saleh: CBI is ready to delete the zeros; Government supports it and no one against it. However needs approval by GOI and House

Posted: May 31, 2012 
Saleh said in a press statement Project is integrated and all concerned in the government support him and there is no one against him, and who object to this project is skeptical of the ability of the central bank to implement it «.

He added that the central bank will be ready to implement the decision without hesitation if the government decided that,

He explained: that the draft deletion of zeros needs to the approval of the government and the House of Representatives for its success.

The Central Bank of Iraq announced (29 September 2011) that the year 2013 will see the deletion of zeros and switch the currency, 

05/29/2012

Central Bank announced new steps that will raise the value of Iraqi dinar against the dollar.

The deputy governor of the Central Bank of the appearance of Mohammed in a statement to the reporter (JD) that the central bank began to implement a new strategic equation will come out even where the dinar and the dollar if it is available the appropriate atmosphere.

Saleh added that the new strategy will work to increase the capacity of the Iraqi dinar as a step in the way of reform of the financial system in Iraq and stimulate the economy, and then proceed with a project to delete the zeros of the exit equation equal to the Iraqi dinar with the dollar

Also supported the Ministry of Finance implemented the idea and the fact that the deletion process will liberate the Iraqi economy from the constraints and enhance the value of the dinar in the Fund, the World Bank.

And promises to start see the futility of the project as we believe it does not lead to raise the value of Iraqi dinar,, we aspire to embrace the Iraqi Central Bank and economists project that aims to raise the value of Iraqi dinar to its previous value and return equal to (3.33) U.S. $ through a package of procedures and bold decisions

and the holding of the blockade has zero, and the events of 2003 have zero, and these three zeroes represent the pain of the Iraqi people, and delete it represents the hopes of the Iraqi people in progress, freedom and prosperity. “

Saleh said in an earlier statement that the Central Bank of Iraq has reached advanced stages of preparations for the mission logistics project to delete the three zeroes from the Iraqi currency, and after obtaining approval from the federal government to implement it will be working on a larger scale because it is a legitimate strategic interest to the general of the Iraqi people.

0.0008333) dollar / dinar in early December 2011 to (0.00077) dollars / JD in early April 2012. In other words, the number of dinars per dollar of (1200) JD / dollar in the free market to the (1300) JD / dollar during the period. The exchange rate that was in the seventies Sunni $ 3.20 / JD any more than the current price of more than four thousand times (almost “). (3.2 ÷ 0.00077 = 4155 times).

Mohammed Saleh in an interview with "Twilight News" "The Ministry of Finance expressed its opinion on the draft raise zeros from the Iraqi currency and had a reservation of this Order," explaining that "the ministry conservative of the timing of the start of the project because all the accounts of the budget will be recorded in accordance with the new currency. "

The deputy governor of the Central Bank of the appearance of Mohammed Saleh in a statement to 'Twilight News' that' the Ministry of Finance expressed its opinion on the draft raise zeros from the Iraqi currency and had a reservation of this Order ', pointing out that' the ministry conservative of the timing of the start of the project because all the accounts of the budget will be recorded in accordance with the new currency '. 

Central Bank: the project to delete the zeros will not be implemented without the approval of the government and parliament 

BAGHDAD / Baghdadiya News / ... After a formal demand that the government of the Iraqi Central Bank to wait in the implementation of the project to delete three zeros from the Iraqi currency,

And members of the House of Representatives objection to this request, said the central implementation of the project will only be by the three parties and the approval of the Central Bank and the government and the House of Representatives.
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Post by rocky on Sat 01 Jun 2019, 7:26 am

thanks SB
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Central Bank: The deletion of zeros aims to tighten banknotes and needs parliamentary legislation Empty Re: Central Bank: The deletion of zeros aims to tighten banknotes and needs parliamentary legislation

Post by Lobo on Sat 01 Jun 2019, 3:25 pm

Thanks everyone - keep praying it is soon
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Central Bank: The deletion of zeros aims to tighten banknotes and needs parliamentary legislation Empty Re: Central Bank: The deletion of zeros aims to tighten banknotes and needs parliamentary legislation

Post by Quietlight on Sat 01 Jun 2019, 4:56 pm

So what's your gut feeling on this Screwball.  Are they any closer with having the deleting approved do you think Screwball?

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Central Bank: The deletion of zeros aims to tighten banknotes and needs parliamentary legislation Empty Re: Central Bank: The deletion of zeros aims to tighten banknotes and needs parliamentary legislation

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    Current date/time is Wed 20 Nov 2019, 7:03 am