Economists then wonder the government's insistence on the use of "penny" cash as a unit

First topic message reminder :


Economists then wonder the government's insistence on the use of "penny" cash as a unit


Wednesday 10 May 2017 08:06


Alsumaria News / Basra
Economists experts from the province of Basra, their surprise at the insistence of the Iraqi government to use (penny) in cash as a unit of accounting receipts for most of the institutions and departments despite the fact that "penny" of the extinct trading three decades ago.

A professor of economics at the University of Basra d. Nabil Marsoumy in an interview with Alsumaria News for, " The accounting receipts used by most government departments in Iraq , where the amounts columns are divided into two parts , one dinar and the other fils, which is surprising because the penny is no longer circulating for more than thirty years , " noting that " government accounting receipts remain unchanged reflects the extent of the failure of management thought, so that the hand of reform did not extend so far intuitive to simple details are handled thousands of times a day. "


Marsoumy pointed out that " the dirham , which enjoyed greater penny cash value is no longer used for a long time , " adding that "administrative leaders in the country if they are not able to change receipts and a small paper , how can develop the economy and achieve administrative reform."

For his part, President of the Iraqi Economists Association in Basra , Ali Alaill said in an interview with Alsumaria News for, " The world has come a long way in the application of electronic accounting systems and we are still use receipts and paper recognize fils cash as a unit , " adding that "addressing this gap does not require administrative genius nor financial allocations, but need only a simple guidance from the cabinet Secretariat to the ministries to delete a column from the penny receipts circles. "

Alaill pointed out that " the sons of the new generation do not know anything about the penny , except the old amateur currency collecting them."

The penny was one of cash categories traded in Iraq, and since the Ottoman era and even the extinction of trading was coining of copper to lower its value, it is the smallest unit of cash, and this afternoon is common ideals (not equal fils) to indicate the lack of importance of the thing, and during their occupation of Iraq period decided Englishmen in 1920 , the abolition of the penny trading with the rest of the units of the Ottoman currency, then work it back as a cash junior starting in 1932, and continued the penny in circulation until the early eighties, perhaps so far, at least in receipts and accounting records used by many government departments , including Directorates and municipal water Municipalities, education, traffic, communications and health.

[You must be registered and logged in to see this link.]

Are we thinking June rv?

as ward has said this is those pesky small denoms rearing there heads ! lol

mochasmom wrote:Are we thinking June rv?

Don't want to speak for the duck but, the other day in chat he wrote...

this is straightforward end war clear IEDS tariffs..RV

I suppose it could still happen in May but I wouldn't bet on it right now...

This is great news.  As Ward has said this one of those "Here's your sign" moments.  
Specific talk of the use of dinar and fils.  Economist says no and Government says yes.  
I'll go with the Government.  We are getting to the end of this ride.
Thanks
LIT

Economists wonder the government's insistence on using the "Phil" as a monetary unit

May 10, 2017



Al-Abba channel / Baghdad

Economists from the province of Basra, surprised by the insistence of the Iraqi government to use the (Phil) as a monetary unit in the accounting access to most institutions and departments, although the "Phil" has been extinct from trading for three decades.

Said professor of economics at University of Basra Nabil Mersoumi in an interview, "The accounting access used by most government departments in Iraq is divided into columns of amounts into two parts, one dinar and the other for bankruptcy, which is surprising because the philosophical is no longer circulating for more than thirty years, "noting that" the survival of government accounting accounts as reflected reflect the extent of administrative thinking, so that the hand of reform did not extend to Now to the simple intuitive details are handled daily thousands of times. "

Al-Marsoumi pointed out that "the dirham, which had a greater monetary value than the fils, has not been used for a long time." He said that "if the administrative leadership in the country is unable to change small paper receipts, how can it develop the economy and achieve administrative reform?"

"The world has come a long way in implementing the electronic accounting systems and we are still using paper receipts that recognize the bank as a monetary unit," said the head of the Iraqi Economists Association in Basra, Ali al-Adeb. "Addressing this gap requires neither administrative genius nor financial allocations, Only need a simple guidance from the Secretariat of the Council of Ministers to the ministries to delete the pillar of the Philosophers of the arrival of its circles.

"The sons of the new generation do not know anything about the Philosia except for the collectors of the old currency," he said.

[You must be registered and logged in to see this link.]

Nice

Phil Colin's?

all good...   

Screwball wrote:Phil Colin's?

"Yes he can feel it coming in the Air"