A smart Attorney Najib:-currency switch when you delete the three zeros are not necessary to legisla

Finance Committee Member: CBI within rights to drop zeros, However, Legislation needed to regulate restructuring currency to protect consumer




Baghdad (news) .. Said a member of the Finance Committee MP / coalition of Kurdish blocs / Najiba Najib, that the process of switching the national currency when you delete the three zeroes which does not need to enact the law by the House of Representatives, but the instructions issued by the central bank.

said Najib (of the Agency news): The Bank Act allowed the Central Bank of the validity of the currency exchange and restructuring, so the project to delete the three zeroes tubeless (senseless) for the enactment of the House of Representatives, but the controls serve as legislation to regulate the process of replacing the currency.

said: There is a problem may occur when the implementation of the project, which is the issue of indebtedness among citizens, indicating For example, when you borrow a person million dinars Upon implementation of the project will become a thousand dinars, in the case of recovery of debt would anger the citizen creditor, so that this issue needs to legislation, while the project is fully tubeless law.

has called for a number of deputies and economic experts to the need for the enactment of the regulates the process of replacing the currency when you delete the three zeroes, as well as the process of destroying old currency.

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Parliamentary: the process of switching the currency when you delete the three zeroes which do not need to legislate law



03-05-2013 07:26 AM





Baghdad (news) .. Said a member of the Finance Committee MP / coalition of Kurdish blocs / Najiba Najib, that the process of switching the national currency when you delete the three zeroes which does not need to enact the law by the House of Representatives, but the instructions issued by the central bank.
said Najib (of the Agency news): The Bank Act Central allowed the Bank of the validity of the currency exchange and restructuring, so the project to delete the three zeroes tubeless for the enactment of the House of Representatives, but the controls serve as legislation to regulate the process of replacing the currency. said: There is a problem may occur when the implementation of the project, which is the issue of indebtedness among citizens, indicating For example, when you borrow a person million dinars Upon implementation of the project will become a thousand dinars, in the case of recovery of debt would anger the citizen creditor, so that this issue needs to legislation, while the project is fully tubeless law. has called for a number of deputies and economic experts to the need for the enactment of the regulates the process of replacing the currency when you delete the three zeroes, as well as the process of destroying old currency. / End / 8. n. r /




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Hey, they have to say something to keep the Iraqi's occupied with trying to figure things out or they will kill each other, don't you guys all know that?... ;)

the reality is that they will have an exchange process in mind, same as germany. Different process for peeps that walk in off the street with cash, different again for those with cash ni the bank, different conversion for stocks, and loans will also get converted across. As for cash holders outside the country thats anyones guess and good luck!

I will hold on,but very confused at times.

exactly what the CBI has been saying for 2 years. This shows how the deletion of zero's will coincide with raising the value of the dinar. right now all Iraqi's know that a 25,000 bill is worth only $21.00 and 1 million dinars is worth $860.00. removing the three zero's will coincide with the issuing of new currency. the new 25 dinar bill will have the same value as the current 25,000 dinar bill = $21.00, making 1 million dinars worth the same as 1 thousand dinars = $860.00


"The CBI and MOF has been talking about the deletion of zero's since 2010. The goal of the CBI is to reduce the IQD in circulation from 31 Trillion dinars to 26 Billion dinars. any doubt that the CBI has 31 Trillion dollars in circulation, visit the CBI website: [You must be registered and logged in to see this link.] and look up "Financial Statements".

The problem with deleting the zero's is, the current value, $25,000 equals $21 dollars, The CBI needs to run both the 25,000 and newly introduced 25 bill simutaniouly creating confusion among the citizens of Iraq ( 25,000 dinar bill equal to the new 25 dinar bill which has a value of 21 dollars ) see the confusion, but they have a plan "The Secretary General of the Council of the prime minister on the Keywords announced the government's efforts to make one U.S. dollar is equal to a thousand Iraqi dinars." [You must be registered and logged in to see this link.] Now think of how that will eliminate confusion if the CBI does what they have been saying for years. now delete 3 zero's and 1 IQD will = 1 USD

understand that Iraqs MOF has always said that Iraq will return to their original value "pre UN sanction's", which was roughly $3.22USD to 1 IQD, Iraq at that time only had 26 BILLION IQD in circulation, notice that Iraq's goal is to reduce their 31 TRILLION dinars in circulation to 26 BILLION>,,, never forget .00086,, removing 3 zero's reduces Iraqs money in circulation from 31 TRILLION to 26 BILLION<,,, IRONIC???? NO, they were there before and will be there again.

1,000,000 million dinar for $860, delete 3 zero's and have 1000 dinar w/ a value of $1000 USD, making you a $140 dollar profit, but lets not forget that the MOF has always said that the IQD will come back at the "pre sanction" value.(one special note, Noteworthy that the Iraqi Central Bank announced in August 2012 Iraq's reserves rise of hard currency to $ 67 billion from 63 billion, 26 x $2.60 = 67 ,, almost 3 + !!!!! 91 BILLION =$ 3.50, How much does Kuwait have in basket of currencies???? in circulation???? understand the point???? 3.55 US Dollar = 92 Billion.) always remember that Iraq and Kuwait have always been equal or within a few fil's of each other, so heres two very possible conclusion's:

1000 x 3.22 = $3,220.00 - $860 = $2360 profit per million you bought
1000 x 3.55 = $3,555.00 - $860 = $2690 profit per million you bought

40 million = 40,000 x 3.55 = $142,000.00 - initial investment of $34,400 = net profit of $107,600.00 not a bad investment!!!!!

that leaves you all 2 choices:
1) sell sell sell
2) buy buy buy

always remember "capital gains taxes" only applies for 2 years after purchasing, any profit after 2 years will be subject to "income tax".


just a thought!!!! lol

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two choices here:
1) believe fellow investors that know more than the Iraqi politicians MOF and CBI.
2) or believe the Iraqi politicians MOF and CBI.

lets not forget memory lane:
1:1 value

$860 dollar investment, bringing a Nine-Hundred Ninety-nine Thousand One-Hundred and Forty dollar Profit ($999,140.00).

3.5: 1 value

Iraq will revalue within a penny of Kuwait, turning that 1 million into 3.5 million, making a better profit of Three Million Four Hundred Ninety-Nine Thousand One Hundred Forty dollars ( $3,499,140.00). Making the $860.00 investment "priceless".


paying attention and using common sense is the only way to watch an investment!!! lol :D

Now if we only knew when. And don't say 2014 lol

So someone let the monkey out with that wrench.... I knew he was still around..

All these Iraqis do is talk about it. Maybe in 2013 they will finally act on it.