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Fears of exploiting regional mafias currency replacement project
Written by Administrator Wednesday, August 29, 2012 06:26
Created the process of replacing the current Iraqi dinar (KD) Previous many disagreements and conflicts began in 2004.
Many parties have been able to replace the billions of dinars counterfeit time, created fears among many stakeholders to repeat the experiment during the replacement phase announced by the central bank, especially after the latter revealed seizing large quantities of currency Almzruh in Baghdad and other Iraqi provinces.
The previously announced the Central Bank "intention to start a replacement Iraqi dinar rolling now belong new after deleting three zeros from the beginning of the year 2013, but the government demanded to wait for an unspecified date, and as the bank block size that will be withdrawn within a period of two years more than 32 trillion dinars and put irreplaceable estimated 28 billion dinars. "
The central bank intends to Iraq since 2005 to the implementation of the project to delete three zeros from the Iraqi dinar, which has suffered over the past decades unprecedented inflation led to a gradual deterioration of the value of $ 3 to 2400 dinars to the dollar.
Before 2003, enabling the central and through a policy put large amounts of dollar in a central auction, raising its value until now reached 1119 / dollars. Security sources private revealed that "investigations were conducted with the captured in Babil province, Maysan, Baghdad and taken to Baghdad to complete the investigation on charges possession of large quantities of counterfeit currency and Iraqi attempt to replace, revealed to us a lot of schemes that are quite far from the subject of replacing ten million or more counterfeit currency with legal ones, and end up.
He said what we have reached is that there are countries and regional mafias Turkish and European and other countries working in another direction, which is preparing for the process of replacing the Iraqi currency to be implemented by the Central Bank of Iraq, and here begin the biggest fake currency replacement.
CBI stressed and on the lips of his deputy, the appearance of Mohammed Saleh, said that this case has been drawn since many months.
He added that "any process control of the currency counterfeit is tracked through coordination between banking systems and security, were seized in the province of Maysan, Baghdad and investigations and trace those involved certainly a specialty security services, all we have is that we address the imbalance among our specialty, has been circulated complete data counterfeit currency and re-raising the security specifications of the Iraqi currency, as we canvass using sophisticated equipment able to detect counterfeit currency.
In terms of replacements, between Saleh said that "the replacement process planned after deleting three zeros from the dinar, quite different from the replacement process in 2004, everyone remembers that security conditions then were not stable, not to mention the difficulty of the work of banks and transfer the money, although it and the according to measurements World succeeded in completing the replacement and asked IQD sobering enjoys technical specifications, good, and the question if not replaced dinar time, will do the state currency printed printer homework? answer is also uncertain not. continued Saleh, said that "the replacement process this time is different as we have The most important thing is that the replacement will continue for two years and this long enough to complete the project with confidence and considerate and pleased, and there will be plenty of time for banks to verify the old currency or not. "and about the size of the existing currency, said that" the mass current estimates of 32 trillion dinars, It expected Trchigaha less than 28 billion new dinars. "
Saleh added that "the bank is working to make one dollar equals 1,000 dinars, pointing out that he is seeking to raise the exchange rate of the dinar during the next term and commensurate with the strength of the economy, particularly that Iraq will lead the energy market in the world for the coming years."
Promised Deputy Bank that "bank reserves and the government's $ 58 billion, is a powerful force enormous financial and therefore these reserves and the strength of the dinar should be aligned with the positive developments in the Iraqi economy, pointing out that what we are witnessing the rise in the price of the dollar in the Iraqi market is a bubble soon What we're going to by Busaúlna and open ports dollar selling by the Rafidain and Rasheed.
The CBI had announced on 21 May 2012 directly Rafidain and Rasheed sell the dollar for citizens at 1189 dinars to the dollar, in a move to pull the rug from under the feet of speculators in the currency open ports, many informal throughout Iraq destination customers instead of banking offices own. Has already witnessed Iraqi dinar exchange rate down quickly and after the announcement of economic sanctions on Iran and Syria, which depend on the Iraqi market to secure their goods different, was charged with the Central Bank these countries export Ozmtehma economic zones of Iraq through transfer mechanism dollar sales for themselves, collected various images. "
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Written by Administrator Wednesday, August 29, 2012 06:26
Created the process of replacing the current Iraqi dinar (KD) Previous many disagreements and conflicts began in 2004.
Many parties have been able to replace the billions of dinars counterfeit time, created fears among many stakeholders to repeat the experiment during the replacement phase announced by the central bank, especially after the latter revealed seizing large quantities of currency Almzruh in Baghdad and other Iraqi provinces.
The previously announced the Central Bank "intention to start a replacement Iraqi dinar rolling now belong new after deleting three zeros from the beginning of the year 2013, but the government demanded to wait for an unspecified date, and as the bank block size that will be withdrawn within a period of two years more than 32 trillion dinars and put irreplaceable estimated 28 billion dinars. "
The central bank intends to Iraq since 2005 to the implementation of the project to delete three zeros from the Iraqi dinar, which has suffered over the past decades unprecedented inflation led to a gradual deterioration of the value of $ 3 to 2400 dinars to the dollar.
Before 2003, enabling the central and through a policy put large amounts of dollar in a central auction, raising its value until now reached 1119 / dollars. Security sources private revealed that "investigations were conducted with the captured in Babil province, Maysan, Baghdad and taken to Baghdad to complete the investigation on charges possession of large quantities of counterfeit currency and Iraqi attempt to replace, revealed to us a lot of schemes that are quite far from the subject of replacing ten million or more counterfeit currency with legal ones, and end up.
He said what we have reached is that there are countries and regional mafias Turkish and European and other countries working in another direction, which is preparing for the process of replacing the Iraqi currency to be implemented by the Central Bank of Iraq, and here begin the biggest fake currency replacement.
CBI stressed and on the lips of his deputy, the appearance of Mohammed Saleh, said that this case has been drawn since many months.
He added that "any process control of the currency counterfeit is tracked through coordination between banking systems and security, were seized in the province of Maysan, Baghdad and investigations and trace those involved certainly a specialty security services, all we have is that we address the imbalance among our specialty, has been circulated complete data counterfeit currency and re-raising the security specifications of the Iraqi currency, as we canvass using sophisticated equipment able to detect counterfeit currency.
In terms of replacements, between Saleh said that "the replacement process planned after deleting three zeros from the dinar, quite different from the replacement process in 2004, everyone remembers that security conditions then were not stable, not to mention the difficulty of the work of banks and transfer the money, although it and the according to measurements World succeeded in completing the replacement and asked IQD sobering enjoys technical specifications, good, and the question if not replaced dinar time, will do the state currency printed printer homework? answer is also uncertain not. continued Saleh, said that "the replacement process this time is different as we have The most important thing is that the replacement will continue for two years and this long enough to complete the project with confidence and considerate and pleased, and there will be plenty of time for banks to verify the old currency or not. "and about the size of the existing currency, said that" the mass current estimates of 32 trillion dinars, It expected Trchigaha less than 28 billion new dinars. "
Saleh added that "the bank is working to make one dollar equals 1,000 dinars, pointing out that he is seeking to raise the exchange rate of the dinar during the next term and commensurate with the strength of the economy, particularly that Iraq will lead the energy market in the world for the coming years."
Promised Deputy Bank that "bank reserves and the government's $ 58 billion, is a powerful force enormous financial and therefore these reserves and the strength of the dinar should be aligned with the positive developments in the Iraqi economy, pointing out that what we are witnessing the rise in the price of the dollar in the Iraqi market is a bubble soon What we're going to by Busaúlna and open ports dollar selling by the Rafidain and Rasheed.
The CBI had announced on 21 May 2012 directly Rafidain and Rasheed sell the dollar for citizens at 1189 dinars to the dollar, in a move to pull the rug from under the feet of speculators in the currency open ports, many informal throughout Iraq destination customers instead of banking offices own. Has already witnessed Iraqi dinar exchange rate down quickly and after the announcement of economic sanctions on Iran and Syria, which depend on the Iraqi market to secure their goods different, was charged with the Central Bank these countries export Ozmtehma economic zones of Iraq through transfer mechanism dollar sales for themselves, collected various images. "
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