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Central» reveals the cost of printing coins
May 17th, 2015
In preparation for the implementation of the project to delete the zeros
Baghdad's new morning:
Detection Manager version in the central bank Ahsan Yasiri that the central Iraqi prints thousand 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 low cost.
Yasiri He added that «Bank Central serious about printing new cash categories that will be one of the two categories of 50 and 100 000 dinars, which is in the process of selecting designs and corporate printer ».
He pointed out 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
and stressed Yasiri «Currency printing is necessary to modify the Iraqi banknotes structure of the draft as a prelude to the implementation of the project to delete the zeros», pointing out that the Iraqi dinar is very strong currency but restructuring banknote weak because the biggest coin is 25 dinars category equivalent to $ 22, and this weak structure makes citizens prefer to deal Instead of the dinar to the dollar.
The central bank revealed, in the first of Saturday, for high volume cash reserves during the month of May, from what it was during the month of April, and as pointed out that it regards oil sales for the current month size, continues to increase expected in the months next.
The governor of the bank on the Keywords on the sidelines of the conference (the adoption of international accounting standards for the Iraqi banks), said that «the nature of the measure Iraqi reserves the size of cash based on the daily dealings of oil revenues that are sold in world markets, as well as the volume of cash transactions at home».
The Keywords, that «the size of the cash reserve for the month of May, recorded an increase from what it was during the month of April», indicating that «this relates to oil sales for the current month size».
He predicted Keywords, «persistently high level of cash reserves in the coming months».
referred to The central bank stressed, during the month of January 2015, that the reserves will exceed the $ 80 billion during the first half of the same year, but will not reach $ 100 billion due to weak retail Iraqi oil revenues and through which access to the dollar to strengthen reserves.
He called Keywords Iraqi banks the need to apply international accounting standards while criticized a number of specialists delayed its application.
The governor of the bank, in his speech at the seminar, said that «the openness of Iraq on the global market and the evolution of his banking, especially after 2003, after the issuance of the Iraqi Central Bank Law No. 56 of 2004 and the Banking Law No. 94 for the year 2004 and the Law on Combating Money Laundering No. 93 of 2004 which confirmed these laws in its implications on the application of international accounting standards », for harmony and understanding and work smoothly and transparent with organizations and institutions that govern the banking and economic action in the world as a fund and the World Bank».
Keywords confirmed that «There is an ongoing effort by the central bank for the application of these standards by the trend towards request financial data from banks, so the banking sector in Iraq and by virtue of his youth and the challenges facing it today need a high degree of financial disclosure and transparency and which are reflected on all financial aspects of the his work ».
He stressed Keywords that «There are a number of banks far from the application of global accounting standards that will cause her to risks and damage in their work and reflected on the banking sector as a whole so has to be cooperation and synergy to reach the threshold better than these standards.»
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May 17th, 2015
In preparation for the implementation of the project to delete the zeros
Baghdad's new morning:
Detection Manager version in the central bank Ahsan Yasiri that the central Iraqi prints thousand 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 low cost.
Yasiri He added that «Bank Central serious about printing new cash categories that will be one of the two categories of 50 and 100 000 dinars, which is in the process of selecting designs and corporate printer ».
He pointed out 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
and stressed Yasiri «Currency printing is necessary to modify the Iraqi banknotes structure of the draft as a prelude to the implementation of the project to delete the zeros», pointing out that the Iraqi dinar is very strong currency but restructuring banknote weak because the biggest coin is 25 dinars category equivalent to $ 22, and this weak structure makes citizens prefer to deal Instead of the dinar to the dollar.
The central bank revealed, in the first of Saturday, for high volume cash reserves during the month of May, from what it was during the month of April, and as pointed out that it regards oil sales for the current month size, continues to increase expected in the months next.
The governor of the bank on the Keywords on the sidelines of the conference (the adoption of international accounting standards for the Iraqi banks), said that «the nature of the measure Iraqi reserves the size of cash based on the daily dealings of oil revenues that are sold in world markets, as well as the volume of cash transactions at home».
The Keywords, that «the size of the cash reserve for the month of May, recorded an increase from what it was during the month of April», indicating that «this relates to oil sales for the current month size».
He predicted Keywords, «persistently high level of cash reserves in the coming months».
referred to The central bank stressed, during the month of January 2015, that the reserves will exceed the $ 80 billion during the first half of the same year, but will not reach $ 100 billion due to weak retail Iraqi oil revenues and through which access to the dollar to strengthen reserves.
He called Keywords Iraqi banks the need to apply international accounting standards while criticized a number of specialists delayed its application.
The governor of the bank, in his speech at the seminar, said that «the openness of Iraq on the global market and the evolution of his banking, especially after 2003, after the issuance of the Iraqi Central Bank Law No. 56 of 2004 and the Banking Law No. 94 for the year 2004 and the Law on Combating Money Laundering No. 93 of 2004 which confirmed these laws in its implications on the application of international accounting standards », for harmony and understanding and work smoothly and transparent with organizations and institutions that govern the banking and economic action in the world as a fund and the World Bank».
Keywords confirmed that «There is an ongoing effort by the central bank for the application of these standards by the trend towards request financial data from banks, so the banking sector in Iraq and by virtue of his youth and the challenges facing it today need a high degree of financial disclosure and transparency and which are reflected on all financial aspects of the his work ».
He stressed Keywords that «There are a number of banks far from the application of global accounting standards that will cause her to risks and damage in their work and reflected on the banking sector as a whole so has to be cooperation and synergy to reach the threshold better than these standards.»
[You must be registered and logged in to see this link.]
