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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    What will happen if I delete the three zeros of the Iraqi currency?

    Proven
    Proven
    Proven
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    Join date : 2012-12-21
    • Post n°1

    What will happen if I delete the three zeros of the Iraqi currency? Empty What will happen if I delete the three zeros of the Iraqi currency?

    Post by Proven Fri 01 Mar 2013, 12:01 pm

    The restructuring of the currency is still on it's way. Remember, first comes the restructuring then the delete the zeros:


    28/02/2013 10: 43

    Politicians and economists stressed the Iraqis that if delete
    three zeros from the current currency of Iraq explain many risks
    because of poor conditions in the country, instability, insecurity and
    corruption, noting that this process is not possible at present because
    it will lead to a major crisis in the Iraqi economy.

    To read more about the Iraqi economy:
    Economists studying on supporting Iraqi dinar
    Russian arms sale to Iraq by 4.2 billion dollars
    Administrative corruption obstacle to investment in Iraq

    Iraq is seeking to reform the currency management system and to
    facilitate their use and to reduce the number of banknotes from four
    billion to one billion and 800 million, by deleting three zeros and a
    coin.

    In this context the Economic Adviser to the Iraqi Prime Minister Abd
    al-Husayn Al-Anbuge to delete zeros from the local currency will
    increase the phenomenon of money laundering. He noted that the
    Government had informed the Central Bank that risks to economic security
    in case the Bank insisted on the deletion of zeros from the local
    currency    .He said the process cost time and effort to the Government and
    the Central Bank and raises the level of fraud of some terrorist groups
    for smuggling money out of the country.

    For his part, ruled out a member of the Finance Committee Attorney
    Haitham al-Jabouri, the Iraqi currency replacement project and deleted
    her zeroes in the year in which the project is to be implemented by the
    Central Bank.

    Al-jubouri said that the unstable political situation and the worsening
    status of the Central Bank to postpone the project until there is
    political stability and the stability of monetary policy in the country
    and after each incident, saying: that     this year will see the replacement
    of Iraqi currency and does not delete the three her zeroes. "

    He said "the Exchange and delete her zeroes will be bigger and better
    features     reduce inflation and revive the dinar as a result of the lack
    of demand for dollars, which comes with great positives for the economy
    of the country."

    Algiori said that the Exchange will revive the economy but the country
    needs political and economic environment conducive to the implementation
    of the project without meeting any obstacles leading to the
    deterioration of the currency. "

    Earlier, the Central Bank said in August last year that it plans to
    delete the zeros of the Iraqi dinar to facilitate financial transactions
    made through criticism most often. Among the difficulties faced by Iraq
    if it wanted to delete the zeros of the dinar is pulling about 30
    trillion dinars in Iraqi market (about 27 billion dollars) and then
    discarded and replaced with a new currency.

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