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Parliamentary Finance Committee intends to raise the price of the dinar against the dollar and give

rocky
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Parliamentary Finance Committee intends to raise the price of the dinar against the dollar and give  Empty Parliamentary Finance Committee intends to raise the price of the dinar against the dollar and give

Post by rocky on Tue 20 Aug 2019, 3:56 am

[size=38]Parliamentary Finance Committee intends to raise the price of the dinar against the dollar and give it strength among other currencies[/size]
2 days ago Iraq
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Dollar and local Iraqi currency
A member of the Parliamentary Finance Committee Abdul Hadi Saadawi said in a statement on Monday, August 19, 2019, that the Finance Committee will work to raise the price of the dinar against the dollar and give it strength among other currencies in the Arab world, or at least maintain the current exchange rate to have monetary power within Local market.
The Finance Committee in the House of Representatives revealed that there is a tendency to reintroduce the coin, which has been used for decades in the country, while members of the Committee proposed to pre-empt the coin minting process by "deleting zeros" from the current currencies to be valuable to the small cash categories.
Committee member Hanin al-Qadu told Al-Sabah semi-official newspaper on Monday, 19 August 2019, that during meetings and discussions with central bank officials, we stressed the need to reintroduce coins that have been used in Iraq during the past decades, rather than Paper that is damaged and printed in large quantities again.
He added, that the use of metal categories and their descent for trading gives a notional value of 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 banknotes, especially those with small categories . He expressed surprise at the policy of the Central Bank, which does not favor the introduction of coins for circulation in the Iraqi market.
For his part, a member of Parliamentary Finance Majid al-Waeli readiness of the Committee to prepare any legislation required by the Central Bank, which could benefit the economy and the Iraqi market, including the circulation of coins.
Al-Waeli told Al-Sabah that the committee respects the independence of the central bank and its monetary policy, stressing that the bank has technical independence by decision regardless of administrative affairs.
While member of the Committee Jamal Cougar, that all countries in the Middle East and the world have a coin, indicating that this type of currency gives strength to its economy.
Cougar told Al-Sabah that he hoped that the concerned parties could strengthen the currency so that the small groups could have purchasing power in case of using coins.
Al-Saffar told Al-Sabah that inflation in the economy prevents the minting of coins and makes them circulate among citizens, suggesting that there be a step to delete the zeros preceding the coinage process to be a value for small groups against.
It is noteworthy that on 19/12/2018 Hoshyar Abdullah, a member of the Parliamentary Finance Committee MP from the change bloc that the Ministry of Finance did not make any adjustments to oil prices and the sale of oil prices and the dinar against the dollar in the draft budget for the year 2019.
Abdullah wrote on his official page on the social networking site Elvis, that an official letter arrived from the Federal Ministry of Finance to the Council of Ministers, where he kept the price of a barrel of oil at $ 56 and kept the proportion of crude oil daily export by 3.88 million barrels, and the region must export 250,000 barrels of these The rate, pointing out that the Ministry of Finance also kept the price of one dollar against 1182 dinars as it was in the previous draft ..
Abdullah said that the new draft of the general budget does not differentiate from its predecessor and there are no amendments and that Shiites, Sunnis and Kurds did not approve the previous draft and the new amendments do not solve the problems of any of those parties and parties.
Majid Shankali, a member of the Parliamentary Economy and Investment Committee, said earlier that the Central Bank's recent procedures for selling the dollar in the public auction contributed to raising the value of the dollar against the dinar. Trying to harm the national currency for their own benefit.
Shankali added that the central bank is required to take supportive measures for the Iraqi dinar and to fight those who tamper with the security of the national economy, because the country's interest is above all else.
Shankali demanded, the government to accelerate the development of the banking and industrial sector, especially what we note these days there is a significant rise in the price of the dollar against the Iraqi dinar, as he put it, calling for investment law legislation to help bring international companies to Iraq to develop infrastructure, while attributed the parliamentary finance earlier The decline in the exchange rate of the dinar against the dollar to the decline of financial revenues belonging to the state from oil sales, indicating that oil was sold at more than $ 100 a barrel and today its price has reached below $ 50 and this means that the revenues decreased by 50%, which affected the exchange rate National.
The Parliamentary Economy Committee said earlier that it discussed with the Central Bank Governor Ali Alaq the main reasons for the decline in the exchange rate of the dinar and effective solutions to the return of stability, noting that the central bank will take new measures to maintain the hard currency and the return of the stability of the exchange rate of the dinar against the dollar, stressing that the sale price The dollar in accordance with Article 50 of the budget reflected negatively on the Iraqi citizen pushed the Finance Committee to demand pumping dollars into the market.
On June 27, 2019, as the FATF Financial Action Task Force (FATF) gave Iran until June of the same year to tighten its laws on terrorist financing and anti-money laundering, there was uncertainty about the actual sources of funding. Star Four, a Texas-based organization, reported on Feb. 13, 2012 that Iran was systematically stealing large quantities of Iraqi oil in the south, and that the thefts had helped the Iranian government overcome its plight as a result of the international economic embargo.


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Wheelman
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Parliamentary Finance Committee intends to raise the price of the dinar against the dollar and give  Empty Re: Parliamentary Finance Committee intends to raise the price of the dinar against the dollar and give

Post by Wheelman on Tue 20 Aug 2019, 5:16 am

Ok ill wait.
mochasmom
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Parliamentary Finance Committee intends to raise the price of the dinar against the dollar and give  Empty Re: Parliamentary Finance Committee intends to raise the price of the dinar against the dollar and give

Post by mochasmom on Tue 20 Aug 2019, 7:52 am

Sounds encouraging as always, just do it
fonz1951
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Parliamentary Finance Committee intends to raise the price of the dinar against the dollar and give  Empty Re: Parliamentary Finance Committee intends to raise the price of the dinar against the dollar and give

Post by fonz1951 on Tue 20 Aug 2019, 10:05 am

Soon, Mochasmom. LoL. That's what they always say 😂
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Parliamentary Finance Committee intends to raise the price of the dinar against the dollar and give  Empty Re: Parliamentary Finance Committee intends to raise the price of the dinar against the dollar and give

Post by jbowhunter on Tue 20 Aug 2019, 12:10 pm

So second article in as many days stating “...deleting zeros from current currency...”.  I know Ward and SB said it is translation issue...I guess only time will tell.   I pray the literal translation is not the case.
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Parliamentary Finance Committee intends to raise the price of the dinar against the dollar and give  Empty Re: Parliamentary Finance Committee intends to raise the price of the dinar against the dollar and give

Post by Lobo on Tue 20 Aug 2019, 2:49 pm

And so it goes -well, I prefer to believe it will happen.  Taking all the news as a whole and not relying on just an article here or there, it looks like it is going to happen very soon.  They have put ATMs in banks and places where people shop, dine, airports, etc.  They have been talking about the lower denominations and just lately about coins.  They have had seminars teaching the banking personnel how to handle international currency and exchanges.  They said at some point people will be able to buy gold from the ATMs.  The CBI has said that all the banks are connected globally and can wire instantly to any bank that is part of the SWIFT system.  The MasterCard, Visa Card will be international as soon as the RV happens.  The Western Union locations - these are just some of them - 
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The Iraq Trade Banks in Saudi, Dubai and China were to be operational by end of July per the CBI - why announce it if it was not happening and Iraq would remain in a hole and not become international.  There are countries and international companies with contracts -some are already working in Iraq.  And so on --

I believe we are on the cusp of this happening, the people have been told since last November it is going to happen - the education of the citizens have been on going and I believe by the end of this legislative term - per the Prime Minister - purchasing power will be added to the currency during this legislative term which ends either end of August or Sept. 2 because the next legislative term starts Sept. 3.

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