Central to launch the first amount of the category of «50» Alpha in February next .. and is planning

Central to launch the first amount of the category of «50» Alpha in February next .. and is planning to issue the «100»

Baghdad, Mohammed Hadi

 Informed sources revealed at the Central Bank of Iraq that the latter intends to launch its first amount of a class of 50 thousand dinars, the end of next January, was attributed to postpone its launch last month to "organizational reasons", while in the House of Representatives Finance Committee confirmed that the bank is planning, within Future strategy, to issue a category of cash by 100 thousand dinars.

 The central for last month's launch of the new currency, though he had intended his employees' salaries, including distribution, attributed the experts in economic affairs reason the central lingered in the launch of the new currency to Aldaot suffered after announced, but the parliamentary Finance Committee confirms the absence of any Problems in the issuance of those cash category.

 It said informed sources from within the central bank in an interview with the correspondent of "the world" on Saturday that "the central intends to launch its first amount of a class of 50 thousand dinars, the end of next January, after the completion of all procedures related to the issuance of the new currency," pointing out "it will be resolved Currency replace damaged ". The sources, who preferred not to reveal her identity, said that "the new currency printed to respond to Iraqi requests in terms of trading and transfer money, the fact that the recent currency category 25 thousand low compared to the monetary mass in," indicating that "the central for the release of 50 thousand dinars, last November organizational reasons ".

 The Central Bank of Iraq, in late October, issued a new banknote fifty thousand Dinars category, attributing this to the completion of the Iraqi Securities monetary structure and the development of high-value category in circulation, as he emphasized that it contains "structures against counterfeiting attempts Balastantsak".

 And the effects of the announcement of the new monetary Category sensation in economic circles, as counted specialists in financial affairs gateway to the heights chronic inflation and the beginning of a great weakness in the local currency, while others say it will contribute to facilitating business transactions and pave the way for the process of deleting the zeros and the withdrawal of the small coins.

 Member of the Finance Committee in the House of Representatives Abdul Qader Mohammed, said in connection with "the world" on Saturday, as "there are no obstacles or problematic stand-off in front of the launch of the currency of 50 thousand dinars, the central order to launch over the past month for organizational reasons related to the local market "adding that he" knows the right time to launch those mass in order not to influence the market. "

 "The new currency would expand the circle of dealing in Iraqi dinars, also encourages citizens to acquire and save the local currency instead of the dollar," revealing at the same time that "the central ambition in the future strategy of the issuance of a class of 100 000 dinars in order to complete the local currency structure ".

 

For his part, he attributed the name of Abdul Hadi, an economist, central to postpone the launch of the 50 thousand dinars category last month to some of the pressure and objections, which suffered after the announcement of the new currency.

 The Governor of the Central Bank on the Keywords said earlier, "The central bank is facing different pressures," adding that "print currency fifty thousand dinars, do not lead to inflation or raise prices."

 In connection with the "world", Abdul Hadi, says that "political interference in the work of the bank and irresponsible statements could affect the nature of his work."

 Economist not rely on the issuance of 50 000 dinars, in the stability of the market, because "big deals covered through the dollar."

 Abd al-Hadi and indicates that "there are changes in the economic facts on the ground, and a contraction in economic reality of the country."

 But Abdul Hadi believes that the 50 thousand "would raise imposed on a bank in the management of operational costs and the organization of the currency."

 Presumably the writer Muhannad star-Badri that accompanied "version of great value currency, an increase in the gross national product of the state, of the quantity of goods produced and services rendered in a prosperous economy, and this did not happen in Iraq," explaining that "the government after it exhausted sale securities proceeded New issuance of paper currency to fill part of the deficit in the treasury, which is known to funding through the (currency printing - additional).

 Badri This is "one of the most dangerous ways to cover the deficit."
He adds that "this step will end by reducing the purchasing power of the Iraqi currency, with the gradual disappearance of small monetary categories, which means the plug at the expense of the Iraqi citizen simple and standard of living low already," pointing out that "it dripped saliva counterfeiters who Atvennon in the tradition of forging currencies, backed by countries to use all means of technology in the fraud. "

 The central bank said the issuance of banknotes category 50,000 thousand dinars dimensions of 65 mm width, 156 mm length, which is dominated by light brown except Framework decorations that took bold color, "adding that" the purpose of the issuance is to complete the Iraqi Securities monetary structure and the development of class High value in circulation. "He said that the banknote was printed using the quality of high-quality printing paper with a number of security and technical marks where, noting that" the face of the paper includes a schematic picture of a paddle wheel Euphrates and palm trees in the middle and a picture of a Kurdistan Falls. "

 Bank "The paper also includes security markings printed magnetic ink, in addition to the structures against attempts at counterfeiting cloning," pointing out that "paper contains the signs to serve blind people to know it in the form of a four horizontal straight lines, in addition to the watermark (head horse) with a Palm Assyrian half imprinted in the face of the paper and the other half in the back. "

 He said the bank "back of the paper will include a graphical picture of the Iraqi Marshlands include reed house and a number of fishermen and a group of animals and a picture of a palm Iraq with Tigris and Euphrates rivers planning within the map of Iraq," explaining that "the banknote has been repainted with paint markets in order to extend the life of the paper and protect it from dirt and dust ".

 The central bank announced in 2013 its intention to issue coins and small denominations of paper and other great categories written in Arabic and Kurdish.
 
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I fall in this category and of coarse with a rate change... ;)

 while others say it will contribute to facilitating business transactions and pave the way for the process of deleting the zeros and the withdrawal of the small coins.


Added to our Facebook page.

Me too, just hope they dont keep pushing it back

....said, "First 6 months of next year"!

It could be Weslin!!