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Government is taking a series of measures to maintain the dinar  DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Government is taking a series of measures to maintain the dinar

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Government is taking a series of measures to maintain the dinar  Empty Government is taking a series of measures to maintain the dinar

Post by glasshalffull on Thu Oct 18, 2012 6:21 am

».

Government is taking a series of measures to maintain the dinar

Announced government spokesman Ali al-Dabbagh, on Wednesday, that the Cabinet had approved the recommendations to address the fluctuating dinar «order of the government to address the repercussions of fluctuating exchange rate, which came as a result of the absence of regulation import process and ill benefit from buying the currency and not tighten the Central Bank Iraqi control on the activity of auctions currency and sell the dollar for the private sector, in addition to the cash flows out of Iraq as well as the international sanctions imposed on Syria and Iran, especially procedures for Province central banks Syrian and Iranian, which has led to the devaluation of Ammelthma local and dramatically ».

. Dabbagh said that these recommendations came after a series of meetings of the Committee fluctuating dinar exchange during which discuss the matter thoroughly as the topic has already introduced at the fifteenth regular and held on 10 April 2012 and it issued directing the Cabinet formed a committee headed by Deputy Prime Minister for Economic Affairs and membership Deputy Prime Minister for Energy and Finance Ministers, oil and planning, trade and industry and minerals and the Secretary General of the Council of Ministers and the Governor of the Iraqi Central Bank and Chairman of the National Investment Advisor to the Prime Minister for Legal Affairs and Economic Advisor in the Office of the Prime Minister and Associate Secretary General of the Council of Ministers for Administrative and Financial Affairs and financial expert and economist and director general TBI Trade, the Committee shall examine fluctuating exchange rate and the prices of some food items and other goods with daily consumption. Dabbagh said the fluctuation of the exchange rate in the recent period has triggered controversy in political circles and economic what plays an important role in economic activities external and internal whether activities commercial or investment where Baader central bank adoption Activity auction of foreign currency as a means of controlling the exchange rate and directed destination sound monetary to adjust the levels of inflation, reaching sales of the bank in 2008 from foreign currency limits (26) billion dollars, resulting in a lower exchange rate Iraqi dinar against the U.S. dollar. Al-Dabbagh that according to these recommendations has been developing a plan for coordination, consultation and exchange of information between the Central Bank of Iraq and the Council of Ministers on fiscal and monetary policies in accordance with the Constitution with the Bank is examining methods currently in receipt of foreign currency to the domestic market and a greater role for banks and better regulation of the process stages all interest other mechanisms possible to regulate the exchange rate so as to prevent the use of funds for purposes other than the declared and build a complete management and integrated office-money laundering and combating the financing of terrorism (the Money Laundering) and the emphasis on the bill its own with interest the development of washing money in the bank and taking Bank into consideration proposals on the formation of anti-money laundering body.

... Dabbagh said that the committee will be to take over the audit and review of the sale of currency for the purpose of identifying shortcomings and weaknesses and strengths and how to take advantage of the amounts sold and fits in with the quantity of goods and services within and propose actions to reduce leakage rates for a purpose other than the above-mentioned and this committee will be chaired by a representative of the Office of Financial Supervision and the membership of representatives from the ministries of interior, finance, trade and the Central Bank of Iraq and the General Secretariat of the Council of Ministers ... . As well as the formation of another committee shall exchange information on the movement of currency sold by the central bank and database configuration for use in the control of the currency movement and this committee will be chaired by a representative of the Iraqi Central Bank and the membership of representatives of the ministries of interior, finance and trade, will the CBI to submit a quarterly report on its supervision the banking companies authorized transfer outside, with emphasis on the oversight role of the Office of Financial Supervision in check transactions sell the currency to customers and goods entering a result and as central bank will provide a study on the authorization government and private banks validity opening credits for the purposes of covering trade import the private sector to the Economic Affairs Committee . . Dabbagh stressed that the central bank will provide a report on the development of banks in their proper role and in line with the financial volume of the Iraqi economy with the necessity of regulating trade and followed up by government agencies.

http://www.newsabah.com/ar/2411/24/83542/%D8%A7%D9%84%D8%AD%D9%83%D9%88%D9%85%D8%A9-%D8%AA%D8%AA%D8%AE%D8%B0-%D8%B3%D9%84%D8%B3%D9%84%D8%A9-%D8%A5%D8%AC%D8%B1%D8%A7%D8%A1%D8%A7%D8%AA-%D9%84%D9%84%D8%AD%D9%81%D8%A7%D8%B8-%D8%B9%D9%84%D9%89-%D8%B3%D8%B9%D8%B1-%D8%A7%D9%84%D8%AF%D9%8A%D9%86%D8%A7%D8%B1.htm?tpl=13


Last edited by Kevind53 on Thu Oct 18, 2012 7:14 am; edited 1 time in total (Reason for editing : Readability)
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Post by Guest on Thu Oct 18, 2012 11:37 am

Don't know what to believe now after the SHABIBI DEBACLE!

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Post by Terbo56 on Thu Oct 18, 2012 11:45 am

Just 'smoke and mirrors'- Keep that in mind- They said there would be ALOT of misinfo- When this goes down, it will hit with a 'BOOM'!! We'll all hear it-Government is taking a series of measures to maintain the dinar  1471667124Government is taking a series of measures to maintain the dinar  1150991001
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Post by glasshalffull on Fri Oct 19, 2012 6:25 am

Who knows maybe the removal of ole shabs is the kick the dinar needs? I see they are doing away with the ration cards as well, saying more money will suffice. Also, there doesn't seem to be any slowing down on the dinar talk in various articles, wether they are positive or just "discussing" Government is taking a series of measures to maintain the dinar  1848289455
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Post by Guest on Fri Oct 19, 2012 8:44 am

Shabs out of the way could be good or bad - we will know soon.

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