Finance Committee will host Central Bank Governor and his senior staff

Proven wrote:Thanks LIT.

Delete the zero not started because of money being exported (laundering) and the need to reduce the money supply before implementing:

For his part, Governor of the Central Bank justified in replying to the ladies and gentlemen questions the committee members not to carry out the project to delete the zeros because he Aigll of paper the size of likely benefit to export more to reduce the number of categories in advance...

7/4/2015 0:24

BAGHDAD Mustafa al-Hashemi, 

the banking system seeks in Iraq and the relevant authorities to limit the use of cash (CASH) in the country at a time when efforts are going to automate the processes of settlement of the instruments and salaries and activate the automation of electronic card systems in order to maintain more cash in bank accounts through publication of electronic trading between public culture.

According to those involved, the trading exchange electronic smart cards culture is still weak due to heavy economic legacy inherited from the old policies that have isolated Iraq to keep pace with global developments in electronic banking technology and modern making the transition to electronic trading has difficulty in the idea of acceptance of the public.

electronic publishing awareness

In this context, said Deputy Managing Director of the World Company smart card (Ki Card) Ibrahim Abdel Hadi told the "morning" that he needs the public in the current stage of acceptance dealing smart electronic cash cards is to spread awareness and education on trading such new special way related Balmedfoat.ocd importance of this trade in commercial transactions and shopping at markets that deal with this kind of cash to reduce reliance on cash-Cache and the reduction of the money supply in circulation paper size, along with the fact that smart cards lighter and slimmer when you carry and move out as well as they perform the same purpose of the payment.

cash deal and that the conditions experienced by the country in the past at the end of the last century, established the idea of dealing with cash (Cash) at a time when the world has seen the launch of a new type of card shopping and rapid spread of bank payment systems in Several countries, including equivalent cash payment when shopping at the local shops and the supply of fuel stations and pay the bills, wages and other other operations.

He said Abdul Hadi out there that ministries and departments are encouraged to work payments system, this is where the smart cards issued by the Company and specifically in relation to the payment of wages and fines of Interior such as the Ministry and a number of departments of public Kalmror nationality, noting that there is coordination with Dirh passports in this regard to save time and effort on the reviewers.

He pointed to the launch of e-shopping in a number of Baghdad's markets and a number of provinces like Basra and Nasiriyah and Wasit, Najaf and Missan, along with the experience of the fact that a number of This market outlets for the distribution of salaries to employees, retirees and the rest of the categories of the smart card holder.

He explained that the number of citizens willing to use the method of payment of these when they shopped from the market, but some shops lacked the announcement of the possibility of accepting payment smart cards that play a role in promoting this process .

lonelyintexas wrote:If they were going to do that I don't think they would, bother with the money laundering.  
Thanks
LIT

(redenomination: a new unit replaces the old unit with a fixed number of old units being converted to 1 new unit.)

Just remember, the federal reserve is the one back-stopping this action and will continue to supply Iraq with as many dollars as they need even after revaluation.  All part of the Economic Development plan.

CITEX wrote:

Just remember, the federal reserve is the one back-stopping this action and will continue to supply Iraq with as many dollars as they need even after revaluation.  All part of the Economic Development plan.

I wonder if the printing of Dollars that was done 5-6 years ago is going to be used for this or if there will be a new printing of currency to supply Iraq, thus increasing the Dollars in circulation, which should bring the value of the Dollar down... Makes me wonder about converting them to a Dollar based system, be that cash, stocks or bonds... wouldn't that be a nice problem to have....