Iraqi monetary system enhanced the currency of a new dinars

[ltr]Monday, October 31.2016
Mohammed Riad HamzaIt is unacceptable to keep the Iraqi dinar exchange rate against the US dollar and the currencies of industrialized capitalist countries and neighboring Arab countries is in the thousands. Valencod Iraqi dinar paper of the highest categories opens with four zeros paper ... the fifty thousand to 250 dinars a minimum.
The reality of the dinar current trading segments of confusing disabled economic, commercial and service activities for all. For the Iraqi market , the level of the reality of the dinar in the evaluation of trade operations, and a single sentence, is far from accurate price, as well as in the evaluation of real estate , buying and selling and lease, and banking facilities, and any trading assesses currency. Any deal large amounts of both ends need to fill categories of dinar bags for exchange between the seller and the buyer .oimkn see scenes of people carrying bags of dinar entrants to the banks or exchange houses or coming out of it.
And make sure that the reality of the Iraqi dinar and Dialh value segments purchasing a catalyst for the crimes of counterfeiting. In countries where equal their exchange rate with the Iraqi currency Mbtalat rigging the currency, and the counterfeit currency from the devastating effects on inter macroeconomic components of any State.
And the dinar Iraqi Rolling currently Bocefarh and Dialh value cashed important role in the rise of goods and services and rising inflation rates. As transactions in the wholesale exclude small - value segments of the dinar. The addition of a few thousand dinars to deal Consumer goods , or long - lived, and circulation of marketing to another port and into the hands of consumers, the price of the commodity Tuwalia ballooning number of marketing outlets. The reason is Dialh purchasing power of the categories of small dinar that are excluded when evaluating the price of any commodity.
On 27 August 2015 published (unit of economic studies links for Research and Strategic Studies Center) in his position on the Internet an important article included a reference to "that the Iraqi government may resort to editing dinar any (floated) something that will not solve the financial problem in the country, but would have a disastrous impact on the Iraqi citizen first class. on the other hand, the flotation is the port for speculators in the market to carry out money laundering and manipulation auction currency within the central bank. float currency Floating means Leave a currency floating rising exchange rate and declining reverse proportion to the cases of demand and supply in the market. and taking into account the level of emancipation of the national economy, and the adequacy of its performance, and flexibility of its production apparatus. It is the risk of this process as open the door to money laundering and diversion of corrupt money from the Iraqi dinar to currencies Free to smuggle them out. " the
survival of the purchasing power of the Iraqi dinar is weak seesaw at home and abroad are not supported with rampant financial corruption, the dinar conversion into other currencies smuggled abroad cause higher inflation. As to keep large amounts of Iraqi dinar in the market means inflation liquidity which makes it easier out more foreign currency from the country.
The solution is not to delete zeros or dinar floated, but substituting new Iraqi dinars and to link the rate of exchange in US dollars. Be issued any new Iraqi dinars equivalent to the dollar in the exchange rate of the dinar .oatkon per hundred fils and groups: one dinar, five dinars and ten dinars, and twenty dinars, and fifty dinars, and one hundred dinars. Minting coins from fils and five fils, ten fils fils twenty, and fifty fils, and one hundred fils. Thereby ensuring the stability of the monetary system and the elimination of the imbalance in the current system , which has allowed widespread corruption.
As has been the abolition of the currency of the former regime after 2003 and replacing rolling dinar now, the current cancellation over a period of time and bring new dinar.
It is important that the Iraqi Central Bank assisted by experts from the "Council Federal reserve , " the US central bank in the Iraqi monetary system , the development of the currency enjoys the trust of the exchange of high locally and internationally.
Central banks play a major role in financial instruments control in all countries of the world, the most important tool in the hands of the Central Bank is the monetary policy, it is through an increase in cash flow (Liquidity) can stimulate the economy out of the state of economic crisis, or to help the economy grow by encouraging exports, reducing inflation
the currency peg of the Iraqi dinar in US dollars means installing currency dinar price of a fixed exchange rate (fixed exchange-rate) and much of the world this practice is based. There are 17 countries in the world have linked its currency to the US dollar. Including six Arab countries , namely Saudi Arabia, Jordan, Oman, the UAE, Bahrain and Qatar.
To link the Iraqi dinar to the dollar has several advantages the most important of the ease of exchange rate policy between the currency of the country and the rest of the world currencies all, where monetary authorities determine the rate specified for the disbursement of the dinar to the dollar, through which the determined relationship management the rest of the dinar currency, goes up for these currencies with the rising dollar and decreases with Ankhvadh.mn other hand, the dollar peg helps relatively protect the national economy from inflation as
well as help link in the case of oil -producing countries to stabilize their revenues in local currency when the devaluation of the dollar. Vpferd the stability of the oil price decline, the global value of the dollar does not lead to a decline in oil revenues of Iraq Dinars.
It will be issuing new Iraqi dinars a way to expose corruption as it requires replacement traded currency is the new currency. At that expose shelve those billions and billions of the current Iraqi dinar and act in the framework of the weak monetary system and politicized the farthest thing from transparency. As can be the Iraqi Central Bank and commercial banks had placed before the deal could expose any abuses , money laundering and smuggling of the Popular currency abroad.
The main reason behind the dollar peg is to maintain stability and increased confidence to deal with, and maintain a fixed exchange rate of the dinar rate would eliminate the so - called parallel market vowels (black market). This reinforces the confidence of investors and the stability of the monetary system and to maintain the purchasing power of consumers with limited income.
http://aliraqtimes.com/ar/page/31/10/2016/76064/%D9%86%D8%B8%D8%A7%D9%85-%D9%86%D9%82%D8%AF%D9%8A-%D8%B9%D8%B1%D8%A7%D9%82%D9%8A-%D9%85%D8%B9%D8%B2%D8%B2-%D8%A8%D8%B9%D9%85%D9%84%D8%A9-%D8%AF%D9%8A%D9%86%D8%A7%D8%B1-%D8%AC%D8%AF%D9%8A%D8%AF.html

With all I am reading, we are close to something happening on the dinar front. I truly think that after Mosul is retaken and cleansed, we may see some progress. Heck, we are in a much better place than we have been in for many, many years. Keep the faith Outcasts..may this be the best Christmas ever for each of you. 67

thats what they are saying at the other place, about Mosul and all

Morning LH...I have been reading at several sites.  Most all is positive.  Of course lot of hype to go along with it.  I truly believe that the coming year will bring changes.  We still may see something good or be spanked.   Anyone's guess.  I sold off most of my dinar years back, still hold a bit for fun.  Pray we get good news soon.  Hope you and yours have a Merry Christmas.  67

I sold some off also, but have bought back about 1/2 what I did. I didnt really need to $$ when I sold off some but my brother did and I just added mine to this in the shipping. Admit I did loose faith that is will happen as I work on understanding the end time prophecys and how the reval of the Dinar plays into the soon coming one world order.

Well, here we are. Can you say ten years..... we see that Mosul is a bit over half done. Banks open. Investment coming in.. Kurds looking to get a Kurdish State..donn c quiet. Mrs. cK quiet, and very busy. This is getting interesting, so hang in there gang. Maybe we see something this year. May you all have strength, comfort and blessings in abundance headed your way. Peace, 67

Got a little excited when I seen a notice in my e-mail from the outcast site. Still waiting

HI Ya'll!! YUP 67....me busy! Since I've gone back to work...just don't have much energy left to follow what's going on. I still chat with a few on the phone...but fingers always crossed! So much has been happening lately with good news out of Iraq....maybe 2017...they will finally FLIP THIS WORLD!!

Until then...I keep ya'll in my thoughts and Hope to see ya'll soooooooooooooon....LOL
CK

Hello CK......glad all is well. Talk to Socata lately? There is more good news out of the sand box then we have seen in years. Isis getting it's teeth knocked in.....banks opening, electronic transfers. The beat goes on. May God keep you and yours safe and if it is in His will, let this thing pop....67

Hey everyone been along time. just thought I'd stop by and give a hoot I hope some noise i'm hearing has some legit with it......? Talked with donn c. this morning and he reminded me that we here at outcasts are ..his words." The pioneers in this thing. so I will be checking back here over time and suggest is there any who want to fire this thing up and review some things happening. I see some major things happening maybe hard to see but the parliament is there most everyday now...lol Take care ~chevy

Evening Chevy, good to see you. Like you, see much gossip on other sites, some legit, some just bluster. Like Donna and the rest of us Outcast, we await some real, exciting news. I feel we may see something later in the year, maybe even early 18. So much to be done in Iraq. Mosul was the start, getting the banking industry on solid footing and secure, big job ahead. I wish us all luck as we await the end to a very long and yet fun ride. Stay strong, stay focused and drop by from time to time. May God Bless us all. 67

Hey ya'll seen a post on FB from ____ thought I would bring it over here and get some interpretation. No one answers me over there.
13/09/2017
Readings:

Before the introduction of the budget for 2018 to the House of Representatives for approval next month, announced the financial adviser to the Prime Minister the appearance of Mohammed Saleh, but the lines of the paragraphs have emerged for the public, which includes the continuing austerity of the country as a result of low oil prices and the requirements of war on the daisy, Prime Minister Haider Abadi to reduce the operational expenses of the three presidencies and ministries and non-linked to the Ministry of minimum levels to ensure the insurance of basic expenses, although the spokesman for the Presidency of the Council of Ministers confirmed that the customs revenues amounted to more than 685 billion dinars during the months of The vessels of the past, but the Governor of the Central Bank of Iraq on the Keywords at dawn on Monday, "a bomb" heavy-caliber when he said that available cash is not available, criticizing the phenomenon of "compactness".
The financial adviser to the Prime Minister, the appearance of Mohammed Saleh, said that the budget for the year 2018 is in the semi-final preparation, and will be presented to the Council of Ministers next month according to constitutional times.
 Saleh said that "the budget of 2018 tends to maximize non-oil resources whenever possible, and the direction of the state is to encourage employment through the private sector and develop programs to lend young people soft loans to enable them to engage in the labor market." Some details of the budget can be identified through the talk of a member of the Finance Committee MP Mahasen Hamdoun when she said that the government is continuing the policy of austerity because the financial crisis is continuing until next year.
With the imminent submission of the budget to the House of Representatives for approval, the Prime Minister Haider Abadi advanced cadres in the Ministry of Finance to conduct a careful review of the proposal for the federal budget for the year 2018.
 Abadi stressed the discussion of the budget of 2018 and achieve further reduction of the operational expenses of the three presidencies and ministries and non-linked to the Ministry of minimum levels to ensure the insurance of basic expenses, primarily salaries and wages for all employees in the state, pensions, salaries and other wages, Ration card, and the maintenance of the requirements of security, defense and medicine. "
 He stressed that "international and national obligations must be secured in the payment of loan dues and benefits, and continue to secure bonds to pay the dues of contractors." He also urged "to increase non-oil revenues by activating the various activities and increasing productivity and emphasizing the revitalization of the private sector to enable it to perform Its role in improving economic performance. "
 For his part, a spokesman for the Prime Minister Saad al-Hadithi that customs revenues amounted to more than 685 billion dinars during the past eight months, stressing the reduction of the level of government spending to about half.
He added that "the government exceeded the most difficult economic challenges faced by Iraq after there were fears of the government's inability to provide financial cover to ensure salaries and secure the necessary financial allocations to Iraqi forces and other sectors," adding that "customs revenues increased during the last eight months of this year only To reach more than 685 billion dinars. "
Despite the revenues available from the customs only, but the Central Bank of Iraq announced on Monday that the available cash is not available, pointing to plans to attract money and pumped into the banking system. "Stagnation is a problem and a source of concern for many countries, especially after the latest technological developments and the subsequent achievements and huge savings in the incomes of the elements of production," the bank's governor said.
It is noteworthy that the term "compactness" means holding the money and imprisoning it from circulation. It may be the hoarding of burying money or keeping it in the boxes inside the house and not taking it out to trade in the money and capital markets.
 If Iraqi Prime Minister Haidar al-Abadi insists on implementing radical reforms to control financial waste, fight corruption and prosecute corrupt people, and put an end to unjustified government spending, according to modern bases, to ensure investment of resources and diversify sources of income, rather than relying on oil, Of the annual budget of the state, his government must start a radical reform in the banking sector, so that the banking institutions to work to find an effective sector does not allow money laundering and terrorism financing, said the governor of the Central Bank Ali Alalak, who said that work is continuing to upgrade the Through its strategy to transform it into an institution operating within the framework of the developed central banks, and to shift from achieving traditional objectives to development goals that achieve financial stability and support the march of this sector to be a sound and real locomotive for the national economy in the reconstruction phase. Expected.
There are also 60 financial companies operating in the currency market, financial investment, transfers, bonds and smart cards, of which 10 companies are under construction, a large number, but this sector suffers structural distortions, including that government banks control about 90 percent of its assets, leaving about Only nine percent of private banks, with their diversity of local, Islamic, Arab and foreign trade, complain of the banks' restrictions on the banks that are biased to their banks in financial activity. One of the most difficult difficulties faced by most banks lies in their inability to recover loans from debtors. In many cases, even if the Bank has obtained a judicial decision to sell collateral, it is impossible to recover, for reasons of security and social pressure.
 In spite of the large number of banks in Iraq, the number is not consistent with the population, and highlights the departure of the Iraqi people from dealing with banks, the population is estimated at 37 million people, of whom more than 80 percent do not have bank accounts, and there are 900 banking branches geographically located in Provincial capitals and some major cities.
 The data indicate that one branch serves about 41 thousand people in Iraq, compared to Lebanon, which serves each branch four thousand people, and therefore some studies estimated that about 73 percent of the cash mass away from the banking cycle, reflecting popular distrust of the work of banks. Some Iraqi economists are calling on the government to raise the Iraqi dinar exchange rate against the dollar so that its purchasing power rises and confidence grows as it represents the sovereignty of Iraq, as they demand the need to stop the dollarization of the economy by preventing internal transactions and making local transactions limited to the use of the Iraqi dinar only. It should be noted that 70 percent of the currency in circulation was covered with gold and foreign currencies until 1981, and the remaining Iraqi government bonds (currency law). Iraq was then applying the system of remnants of the gold base.
To maintain the lid, successive governments have been linking their fiscal policy, especially current and investment spending, to the balance of payments situation, the latter being determined by government revenues from oil exports.
For the success of this linkage, administrative restrictions have been applied to the external transfer of goods, services and capital movement. Thus, it followed conservative monetary and financial policies that kept the stability of the Iraqi dinar stabilized by the Central Bank at $ 3.2 per dinar. The commitment to the dinar cap gave ease to the monetary authority in the exercise of its tasks, where it was the sole concern to maintain the stability of the currency, but this was achieved at the expense of economic development, Spending on them enough for fear that the increase in spending will affect the stability of the currency.
 The Arab and foreign banks suffer from problems and complications in their work inside Iraq. They complain that the Central Bank has not taken any procedural decisions related to the promotion of comprehensive banking and solving the problem of the restrictions related to the guarantees required in exchange for granting loans and committing them to increase their capital.
Finally, a problem has emerged regarding the banks operating in Erbil and Sulaymaniyah, whose work has been affected by the separation of the Central Bank of Iraq from the Bank's headquarters in Baghdad. These banks have been officially informed that the two branches have become linked to the Ministry of Finance in the Kurdistan Region. The financial and economic crisis plaguing Iraq due to the war on terror, the decline in oil prices and the economic recession, as well as the security instability, the situation of some banks faltered, and others complained of liquidity crisis, and the most recent violations of their lack of compliance Which led the Central Bank to prepare a study on the reality of public and private banks in preparation for re-evaluation and classification, with the participation of the Association of Iraqi banks, while at the same time the Central Bank placed his hand on four commercial banks for committing irregularities in their financial policies and not raise their capital according to the law, He also decided to liquidate «bank The Federal Court of Cassation approved the decision to imprison his owner and director for 10 years for embezzling more than 310 billion dinars (250 million dollars) from the Rafidain government, in one of the largest cases of embezzlement, noting that some businessmen and businessmen The mismanagement of the banking sector to the control of financial men, which contributed to the exploitation of funds deposited by some bank managers to invest their own, in violation of the law, and held the central government responsible for the deterioration of the economic situation of lack of planning and organization. For more than four years, officials in Iraq talk about a project for monetary reform through which the exchange rate of the Iraqi currency against the dollar so that the new dinar is equal to 1.2 dinars to the dollar instead of 1,200.
But the move was postponed until a later time because of the exit of some areas of Iraq from the control of the government after the occupation «urged» them. Military operations began to recover these areas, which still exist. The Government is expected to return to the same project after the end of military operations.
If monetary reform is successful, there is no longer a need to use the dollar in local transactions. The latter occurred after the completion of daily transactions difficult with the arrival of the value of one dollar to thousands of dinars, which made individuals resort to deal in dollars instead of dinar, especially in large transactions and the hoarding of the currency. Therefore, it is not possible to cancel the "dollarization" of the Iraqi economy by administrative decision or by administrative orders from the monetary authority, but the phenomenon will gradually disappear because of the reasons that led to it, ie after the monetary reform referred to above, because the dinar will then become an easy mode of trading and a store of value that avoids using the dollar