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Guide to re-work coin

rocky
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Guide to re-work coin - Page 2 Empty Guide to re-work coin

Post by rocky on Mon 19 Aug 2019, 2:11 am

First topic message reminder :

[size=36]Guide to re-work coin[/size]

Political | 09:19 - 19/08/2019

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BAGHDAD - Mawazine News 
A member of the Finance Committee Hanin al-Qadu, Monday, that the use of metal categories and sent down for circulation gives a notional value of the currency. 
"During meetings and discussions with Central Bank officials, we stressed the need to re-operate the coins that have been used in Iraq over the past decades, rather than the paper that is being destroyed," al-Qadu said. 
He added that "the use of metal categories and their descent for circulation gives a notional value to the currency," noting that "a number of neighboring countries - exchange rates are very high against the dollar - and yet we find that it has a coin in order to preserve the currency and not need to request more papers Cash, especially in small categories. "
Al-Qadu expressed his surprise at the "policy of the Central Bank, which does not favor the introduction of coins for circulation in the Iraqi market."


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rocky
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Guide to re-work coin - Page 2 Empty Parliamentary finance identifies a reason why coins should not be minted and advises this step

Post by rocky on Tue 20 Aug 2019, 3:09 am

[size=45][size=41]Parliamentary finance identifies a reason why coins should not be minted and advises this step[/size]
 20 hours ago
3  less than a minute
[/size]

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The Finance Committee of the House of Representatives, on Monday, identified a reason for preventing the minting of coins, the introduction of a proposal before minting.
Majid al-Waeli, a member of the committee, expressed the readiness of the committee to prepare any legislation required by the central bank, which could 
benefit the Iraqi economy and market, including the circulation of coins.
"The committee respects the independence and monetary policy of the central bank," he said. "The bank has technical autonomy by decision 
regardless of administrative affairs.
And the MP Waeli, that "Iraq can not reproduce the experience of other countries in the use of those currencies, if it 
is in favor of the advancement of the economy; we can support this by listening to the justification and the views Bank of view of the 
Central and then the appropriate legislation of laws for the continuation of the monetary policy The country is going right. ”
Committee member Jamal Kojer stressed that "all countries in the Middle East and the world have a coin", noting that 
"this type of currency gives strength to its economy."
“We hope that the concerned parties can strengthen the currency so that small groups can have purchasing power in the event of the 
use of coins,” he said.
Committee member Ahmed al-Saffar said, "The cost of a coin is more than paper money, and it is 
more difficult to carry it on the citizen."
Al-Safar added, “Inflation in the economy prevents the minting of metal currencies and makes them circulate among citizens.”


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rocky
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Guide to re-work coin - Page 2 Empty Economist: Reprinting the coin will reduce the burden of paper damage

Post by rocky on Sun 25 Aug 2019, 1:52 am


Economist: Reprinting the coin will reduce the burden of paper damage

20:14 - 24/08/2019



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Information / Special…
Economic expert Latif al-Okaili said on Saturday that the government's approach to reprinting the coin would ease the burden of damage to banknotes in the markets.
Al-Okaili said in a statement to Al-Maalouma that the use of metal categories and their descent for trading gives a notional value to the currency as it aims to preserve the currency and does not need to request more banknotes, especially those with small categories. "This is a negative indicator of the country's economy."
He added that "the government's approach to reprinting the coin will reduce the burden of damage to banknotes in the market and reprinting again."
With regard to the possibility of raising the price of the dinar against the dollar, Okaili said, "The central bank is tired of a fiscal policy to keep the exchange rate of the dinar against the dollar unchanged for not entering inflation."
The parliamentary Finance Committee, on Monday, announced a trend to re-work in the currency and the removal of zeros from banknotes, in order to strengthen the economy. Finished 25 T


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rocky
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Guide to re-work coin - Page 2 Empty Economist: The use of metal categories gives a notional value to the currency

Post by rocky on Sun 25 Aug 2019, 4:10 pm


Economist: The use of metal categories gives a notional value to the currency


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Among the economist Latif al-Okaili, the government's approach to [url=https://www.thebaghdadpost.com/ar/Story/t/131815/%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9 %D8%A7%D9%84%D9%85%D8%B9%D8%AF%D9%86%D9%8A%D8%A9]the[/url]reprinting of the [url=https://www.thebaghdadpost.com/ar/Story/t/131815/%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9 %D8%A7%D9%84%D9%85%D8%B9%D8%AF%D9%86%D9%8A%D8%A9]coin[/url] will reduce the burden of damage to banknotes in the markets. 

Al-Okaili said in a press statement: "The use of metal categories and their descent for trading, gives a notional value of the currency as it aims to preserve the currency and not need to request more banknotes, especially those with small categories." 

He added: "The size of the damaged currency of small denominations constitutes a large number in the markets, and this is a negative indicator of the country's economy."

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rocky
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Guide to re-work coin - Page 2 Empty Economist: The use of metal categories gives a notional value to the currency

Post by rocky on Mon 26 Aug 2019, 2:34 am


Economist: The use of metal categories gives a notional value to the currency


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Among the economist Latif al-Okaili, the government's approach to [url=https://www.thebaghdadpost.com/ar/Story/t/131815/%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9 %D8%A7%D9%84%D9%85%D8%B9%D8%AF%D9%86%D9%8A%D8%A9]the[/url]reprinting of the [url=https://www.thebaghdadpost.com/ar/Story/t/131815/%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9 %D8%A7%D9%84%D9%85%D8%B9%D8%AF%D9%86%D9%8A%D8%A9]coin[/url] will reduce the burden of damage to banknotes in the markets. 

Al-Okaili said in a press statement: "The use of metal categories and their descent for trading, gives a notional value of the currency as it aims to preserve the currency and not need to request more banknotes, especially those with small categories." 

He added: "The size of the damaged currency of small denominations constitutes a large number in the markets, and this is a negative indicator of the country's economy."

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Guide to re-work coin - Page 2 Empty Specialized: minted coins serve internal business transactions

Post by rocky on Mon 26 Aug 2019, 2:51 pm

Specialized: minted coins serve internal business transactions

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Monday 26 August 2019 50



 Emad Emirate Baghdad / Mustafa Al - Hashimi
 
There have been recent parliamentary voices calling for the reintroduction of coins (coinage) and reintroduction into circulation, as well as reconsideration of the project to delete the three zeros from the Iraqi currency, at a time when economists regarded it as part of the great economic reform process in the country.
 
 
Strategic Plan
Economist Dr. Essam Mohamed Hassan said that "the Central Bank decided earlier to develop a plan to create coins as part of a restructuring plan that requires the approval of the House of Representatives as a strategic plan will contribute to support the value of the Iraqi dinar in trading
"The change of currency means that a new currency replaces an old currency, with a specified replacement rate, and removes the zeros of the old currency or moves the decimal places to the left," he said, adding that "part of the restructuring plan of the currency and banks involves the creation of coins for trading." Financial support for the national economy. "
Hassan said that "the coin project, launched in 2004 did not succeed because of the absence of comprehensive economic reforms to support the financial value of the dinar in the global market," explaining that the coins will be one of the important intermediate currencies that will be used for trading and transactions.
"Deleting zeros and reintroducing coins has to do with economic reforms because coins, because of their durability, are longer than coins that are quickly damaged," he said. In 2004, "indicating that this requires the dissemination of a culture to educate the public about the economic feasibility of the minted currency."
 
Delete the zeros
Dr. Abdul Hussein Al-Ghalbi, an economist at the Faculty of Business and Economics, University of Kufa, said: "The process of changing the currency is not limited to deleting zeros, but it can be done by adding a number of zeros or moving the decimal places to the right, as happened in South Africa in 1961, but the situation Prevailing over the past 50 years in most countries is the elimination of zeros because of the hyperinflation witnessed by many countries, which obliges to add zeros to their currencies in those circumstances, and then get rid of zeros at the end
Al-Ghalbi stressed that "changing the currency does not affect productivity, as well as that this change does not affect the purchasing power of money, because the power comes from the increased demand for money against the money supply, and as long as the purchasing power does not change, the demand for currency and money supply They do not change, because deleting zeros does not entitle monetary institutions and the central bank to print more money and pump it into
Economy".
Al-Ghalbi added that "the central bank is constrained by the existing cash in the replacement process, while foreign trade will not be affected as the price of exports will continue itself unchanged, as well as import payments are not affected because foreign exchange is in foreign currency against domestic, which remains unchanged because The purchasing power of a currency
do not change".
 
Multiple benefits
"Changing currency and deleting zeros brings multiple benefits, including the fact that changing the currency leads to more efficiency for the local currency by reducing the number of zeros," he said.
Public".
 He said that "after the change of currency will occur a serious reduction in the volume of transactions with less amount of money, which facilitates all parties to deal with, especially
 Accountants. "
 
Monetary deception
Al-Ghalbi said that "currency change reduces the phenomenon of monetary deception experienced by the people with a large number of zeros that push towards the generation of inflationary pressures, and the currency change signals to the local community and international markets that the government is serious in removing inflation, and the economy is heading towards a new beginning empty Of inflation
Untamed. "
He added that "currency change leads to greater confidence in local currency and credibility, and when there are a large number of zeros in the local currency people lose their confidence, especially those with transactions in wholesale markets and importers, as they will replace the local currency with stable international currencies such as the dollar or the euro, which deepens The phenomenon of dollarization in the domestic economy, which weakens monetary authority and reduces the effectiveness of policy
Cash.

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Post by mochasmom on Mon 26 Aug 2019, 4:55 pm

How many times can they tease us
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Post by Screwball on Mon 26 Aug 2019, 5:05 pm

[You must be registered and logged in to see this link.] wrote:How many times can they tease us
Atleast over 10 years worth.... badboys
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Post by fonz1951 on Mon 26 Aug 2019, 9:05 pm

Smoke and mirrors, an Iraqi delicacy. Lol. Who knows what they're up to
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Post by fonz1951 on Mon 26 Aug 2019, 9:06 pm

Smoke and mirrors, an Iraqi delicacy. Lol. Who knows what they're up to
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Post by azareus on Mon 26 Aug 2019, 11:17 pm

Many many times. It aint over

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