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Central steps to start printing a new currency denominations
Sunday, May 17, 2015 22:17
Call banking companies not to exploit the envelope and profiting from the crisis
BAGHDAD - Constitution
Manager version in the Central Bank Ihsan al-Yasiri, said the Iraqi Central thousand prints paper of class 25 000 dinars in Arsn international companies at a cost of less than $ 60, noting that the bank will not spend significant financial liquidity for the printing of the new denominations because the cost of a few. Yasiri He added that the central bank is serious about printing new cash, which will be categories from 50 categories and 100 000 dinars, which is in the process of selecting designs and printer companies. He said that the decision to print the powers of the central bank exclusively for that part of the monetary policy, which can not interfere by any party, stressing that the project of printing currency is necessary to modify the structure of the Iraqi banknotes in preparation for the implementation of the project to delete the zeros. He pointed out that the Iraqi dinar is very strong currency but restructuring banknote weak currency because the biggest category is 25 000, equivalent to $ 22 and this weak structure makes citizens prefer to deal instead of the dinar to the dollar. For his part, Prime Minister for Economic Affairs Adviser to the appearance of Mohammed Saleh, the project printed large cash categories, an important step on the road to monetary reform, which supports the country's economy, based that Iraq is suffering a contraction in liquidity both in dinars or the dollar as a monetary bloc in Iraq size of about 40 trillion dinars. Separately, called Maha economic researcher Ihsan thanked banking financial companies and the conversion to show more humanity towards the public and not to exploit the situation that the country is going through and profiting from the crisis at the sale of hard currency. She thanked, that a number of owners of banking and financial companies were exploiting the conversion conditions and seize opportunities to make gains on the expense of the citizen in need to buy dollars to stroll things Awaldrash treatment abroad. And saw the need for the central bank to tighten the noose on the monopolists of those companies measures supervisory strict which would relieve the burden on the citizen economic conditions because the monetary Central sales of the dollar intended for the purposes specified in his instructions that not including the sales for trade and import and covering remittances and credits. She said that some companies and banks include the equivalent of customs duties and income tax on their sales of dollars in non-import transactions caused the revaluation of the exchange rate to buy the dollar for the purposes of travel, study or treatment. She explained that this process led to the rising exchange rate note that the central bank sells the official rate reason to take tough measures to curb the crisis benefit traders at the expense of the citizen and the circumstances of the country alike. It noted that the central bank is responsible for maintaining stability in the exchange rate as that all banking companies and financial transfer and banks should abide by Dwabth and instructions to ensure that the withdrawal of the vacation dollar selling license to the public and take care not to expose accounting or sanctions in case of any violation of the Central instructions.
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Sunday, May 17, 2015 22:17
Call banking companies not to exploit the envelope and profiting from the crisis
BAGHDAD - Constitution
Manager version in the Central Bank Ihsan al-Yasiri, said the Iraqi Central thousand prints paper of class 25 000 dinars in Arsn international companies at a cost of less than $ 60, noting that the bank will not spend significant financial liquidity for the printing of the new denominations because the cost of a few. Yasiri He added that the central bank is serious about printing new cash, which will be categories from 50 categories and 100 000 dinars, which is in the process of selecting designs and printer companies. He said that the decision to print the powers of the central bank exclusively for that part of the monetary policy, which can not interfere by any party, stressing that the project of printing currency is necessary to modify the structure of the Iraqi banknotes in preparation for the implementation of the project to delete the zeros. He pointed out that the Iraqi dinar is very strong currency but restructuring banknote weak currency because the biggest category is 25 000, equivalent to $ 22 and this weak structure makes citizens prefer to deal instead of the dinar to the dollar. For his part, Prime Minister for Economic Affairs Adviser to the appearance of Mohammed Saleh, the project printed large cash categories, an important step on the road to monetary reform, which supports the country's economy, based that Iraq is suffering a contraction in liquidity both in dinars or the dollar as a monetary bloc in Iraq size of about 40 trillion dinars. Separately, called Maha economic researcher Ihsan thanked banking financial companies and the conversion to show more humanity towards the public and not to exploit the situation that the country is going through and profiting from the crisis at the sale of hard currency. She thanked, that a number of owners of banking and financial companies were exploiting the conversion conditions and seize opportunities to make gains on the expense of the citizen in need to buy dollars to stroll things Awaldrash treatment abroad. And saw the need for the central bank to tighten the noose on the monopolists of those companies measures supervisory strict which would relieve the burden on the citizen economic conditions because the monetary Central sales of the dollar intended for the purposes specified in his instructions that not including the sales for trade and import and covering remittances and credits. She said that some companies and banks include the equivalent of customs duties and income tax on their sales of dollars in non-import transactions caused the revaluation of the exchange rate to buy the dollar for the purposes of travel, study or treatment. She explained that this process led to the rising exchange rate note that the central bank sells the official rate reason to take tough measures to curb the crisis benefit traders at the expense of the citizen and the circumstances of the country alike. It noted that the central bank is responsible for maintaining stability in the exchange rate as that all banking companies and financial transfer and banks should abide by Dwabth and instructions to ensure that the withdrawal of the vacation dollar selling license to the public and take care not to expose accounting or sanctions in case of any violation of the Central instructions.
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