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Opinion on the subject of dinars !! DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Opinion on the subject of dinars !!

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Opinion on the subject of dinars !! Empty Opinion on the subject of dinars !!

Post by claud39 on Thu Sep 03, 2020 9:35 pm

Good evening members of the forum !!

Out of curiosity, and do a kind of little survey !!

I apply practically 2 years on the forum, and I would like to ask the question to the person who is not the economy like I am Sam for example !!

And it's nothing personal Sam !!

 I would just like the opinion of ordinary people who follow the news on Iraq, hoping for a change on the currencies for the dinars ??

On my side I'm going to get the ball rolling, when I watch the news we can clearly see the interest of other countries to invest in the reconstruction of Iraq !!

Looks like French President Emmanuel Macron is going to push into the back of the United States for the reconstruction of the country ??

It also seems that the new prime minister has a very clear mandate, namely to respect the request of the people who are supported by the UN !!

The next meeting with the World Trade Organization / WTO which will happen soon !!

And we could go on !!!

What do you think on the subject? And we always want opinions with the respect, S.V.P !!



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Post by Jayzze on Fri Sep 04, 2020 12:46 am

so claude you want an honest answer here it is.because of the irian influence and the corruption in the goi as well as the stealing of the cash auctions of the cbi. i ask you claude would you and iran give up a good thing?besides this there is still hcl and 140 besides  other laws that must be passed inspite of the lies of the gurus  that tell you different so claude do you really believe this will happen soon? one last thihg as the gurus bs increases so does the brokers increase there prices but the toliet paper remains the same as the 1190. i know this was not what you wanted to here but it is true. maybe one day but not any time soon
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Post by claud39 on Fri Sep 04, 2020 9:32 am

Thank you Jayzze for your opinion, we don't always agree on our opinions between us, at least you participate in the question, I see a lot of members who subscribe every day !!

You dear new members what do you think on the subject of dinars?



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Opinion on the subject of dinars !! Empty IRAQI ALLIANCE: INTERNATIONAL OPENNESS REPRESENTS A POSITIVE ASPECT TO ADDRESS THE PROBLEMS OF IRAQ

Post by claud39 on Fri Sep 04, 2020 11:07 am

As currently only you who have given their opinion, and on that I respect you for that !!!   ayestu

I give you a right party, not for iran, but for article 140, and I agree, this must be resolved, and the new government is pushing on it to resolve this situation !!

Hope you notice the same things as me ???   question

Now to show you the direction of Iraq, and the French President is doing us a great service on that, either pushing Iraq to return to the international market, here is an article dated today that I am sharing with you !!

So if you go back internationally you must have a value on the country's currency to negotiate with other countries, do we agree on that ???   question



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IRAQI ALLIANCE: INTERNATIONAL OPENNESS REPRESENTS A POSITIVE ASPECT TO ADDRESS THE PROBLEMS OF IRAQ


Friday, 4 September 2020



Opinion on the subject of dinars !! 5A349B70-99CB-499D-83ED-4F77C6891162



Baghdad / National News Center -

The coalition of Iraqis confirmed today, Friday, that international openness is an important factor for Iraq, and that it reflects positively on its internal situation.

"The visit of French President Emmanuel Macron to Iraq is important and historic," said a member of the Iraqi coalition, MP Hassan Vadam, told the Iraqi News Agency, pointing out that "this international openness is a positive aspect to address the problems of Iraq."

Fadam added, "France is an important country, and it is part of the countries participating in the international alliance and coordination with it is important to discuss the presence of foreign forces and the economic aspects, especially since there are agreements concluded between the two countries by previous governments."

He explained that "Iraq gradually began to stabilize and open up to the world, and this matter will be reflected in the service situation and job creation, as well as Iraq's return to its normal state at the international level."

President Emmanuel Macron confirmed during his visit to Iraq that his country stands by Iraq in preserving its sovereignty, security and independence, pointing to the importance of continuing coordination and cooperation in the war on terrorism and preventing the return of its threat to the peoples of the world, and the need to redouble international efforts to achieve peace and prevent tension in the region.



https://nnciraq.com/40472/
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Post by Jayzze on Fri Sep 04, 2020 6:14 pm

we might not always agree but thats okay. if you remember a couple of years ago when abadi was pm he went to the davos and ku eco confrence begging for eco aid and only got 10%for the same reason iraq still has not gotten it corruption.this is still a major issue and now the gcc and wto want iraq to join. if a miracle happens then you could see an increase in value. the first signs would be the dropping of the 3 zeors
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Opinion on the subject of dinars !! Empty Re: Opinion on the subject of dinars !!

Post by RamblerNash on Fri Sep 04, 2020 9:09 pm

@claud39 wrote:Good evening members of the forum !!

Out of curiosity, and do a kind of little survey !!

I apply practically 2 years on the forum, and I would like to ask the question to the person who is not the economy like I am Sam for example !!

And it's nothing personal Sam !!

 I would just like the opinion of ordinary people who follow the news on Iraq, hoping for a change on the currencies for the dinars ??
Not Sam? LOL

It's the economy that drives currency exchanges.


The news you post every day debunks the Gurus tho...
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Post by RamblerNash on Fri Sep 04, 2020 9:13 pm

@Jayzze wrote:we might not always agree but thats okay. if you remember a couple of years ago when abadi was pm he went to the davos and ku eco confrence begging for eco aid and only got 10%for the same reason iraq still has not gotten it corruption.this is still a major issue and now the gcc and wto want iraq to join. if a miracle happens then you could see an increase in value. the first signs would be the dropping of the 3 zeors
The first signs of dropping the 3 zeros is called a re-denomination. In other words, a different currency.

When parliament votes for it, the CBI will make it happen.
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Post by claud39 on Fri Sep 04, 2020 10:05 pm

You see that translation can change the way of thinking !!!

You are right RamblerNash, and Sam has some background in economics, and I'm not saying the opposite !!!

  But I am addressing myself especially to members of the forum who have no knowledge of economics, but who only trust the gurus, or the news that I am sharing on the forum to demonstrate the contrary, that is my question ??

I don't constrain Sam on the economy, I don't know anything, or practically nothing about it, I just look at what happens every day in Iraq, and I would like to know if you see as I do the return of the iraq internationally ???


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Post by RamblerNash on Sat Sep 05, 2020 1:20 am

@claud39 wrote:You see that translation can change the way of thinking !!!

You are right RamblerNash, and Sam has some background in economics, and I'm not saying the opposite !!!

  But I am addressing myself especially to members of the forum who have no knowledge of economics, but who only trust the gurus, or the news that I am sharing on the forum to demonstrate the contrary, that is my question ??

I don't constrain Sam on the economy, I don't know anything, or practically nothing about it, I just look at what happens every day in Iraq, and I would like to know if you see as I do the return of the iraq internationally ???


Claud (Moose)

"The return of the Iraq internationally" can take on different meanings.

They are involved in trade (oil, and other markets) internationally.

They are involved in the UN, WTO, IMF, OPEC, and various other internationally recognized organizations.


You started this thread with "currency exchange", specifically Dinar.

The Dinar, as far as it being "internationally", can be bought, sold, traded, and exchanged in almost every country, just like many other currencies.


What exactly is your meaning of "The return of the Iraq internationally" and what was the date it was removed, or suspended, for it to return to?

What exactly are the requirements to be meet for "The Return"?
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Post by claud39 on Sat Sep 05, 2020 9:48 am

Thanks RamblerNash !!

You see sometimes the translation does not always go in the direction we want to go !!!

When I speak of the currencies of dinars for example, it is the value of their currency, as in the United States, Canada, etc ... with their own currency, this is what represents the independence of the country !!

You name a few examples of their international participation, and you are quite right about that !!!

You are also right about their evolution of their international advancement, they must finish the reforms, finish their discussion with the Kurds for their budget ... etc.

And above all to respect the demands of the people who have risen up against the government since last October, and who are supported by the UN, the United States, and especially since recently with the visit of French Prime Minister Emmanuel Macron who is pushing the Iraq to return to the international scene as you saw it as I did !!

What I notice when sharing news on the forum is that the Iraqi Prime Minister is doing everything to relieve the people, and to respect their request.

 Have you noticed that since the start of his mandate everything is progressing rapidly, and that the other international countries are heading towards Iraq to help them return to the international scene !!!

Have you also noticed the visits with their neighbors, the tripartite during their last meeting, we can see very well what is coming between them, that is to say to trade between them !!!

If you follow, and I'm sure you do, on sharing news, and that tells us their international advancement.

Do we agree on that ???   question

You know !! and I say it often I am not a guru, only someone like you members of the forum who wants to see the real truth on the reality of the country quite simply !!

In conclusion, I am certainly not trying to be right on the subject !!

But I only notice what is happening in the country, and if we see a change in the value of the dinar, it must be done at the beginning of the year, that is to say like 2021, not before !!

In any case !! I notice that the Prime Minister should be the new Prime Minister on June 6, 2021 if he continues like this, and with the support of the people, we will see!

 Good day to you, as well as to the member of the forum, it is of value that we have a lot of members on this site, but not much answer on the subjects, not serious I will continue to share the news of the day with you !!


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Post by claud39 on Sat Sep 05, 2020 1:13 pm

@RamblerNash wrote:
@claud39 wrote:You see that translation can change the way of thinking !!!

You are right RamblerNash, and Sam has some background in economics, and I'm not saying the opposite !!!

  But I am addressing myself especially to members of the forum who have no knowledge of economics, but who only trust the gurus, or the news that I am sharing on the forum to demonstrate the contrary, that is my question ??

I don't constrain Sam on the economy, I don't know anything, or practically nothing about it, I just look at what happens every day in Iraq, and I would like to know if you see as I do the return of the iraq internationally ???


Claud (Moose)

"The return of the Iraq internationally" can take on different meanings.

They are involved in trade (oil, and other markets) internationally.

They are involved in the UN, WTO, IMF, OPEC, and various other internationally recognized organizations.


You started this thread with "currency exchange", specifically Dinar.

The Dinar, as far as it being "internationally", can be bought, sold, traded, and exchanged in almost every country, just like many other currencies.


What exactly is your meaning of "The return of the Iraq internationally" and what was the date it was removed, or suspended, for it to return to?

What exactly are the requirements to be meet for "The Return"?



Will Iraq be the economic heart of the Middle East?


01.09.2020

Enlarge this image Click to see fullsize
Opinion on the subject of dinars !! 1044822493_0:0:1000:313_1000x313_80_0_0_aca74d3ef27c5cc5c7b5307be7536030.png





French President Emmanuel Macron intends to make his first official visit to Iraq tomorrow, Wednesday, and reports quoting French government sources indicated that Macron's visit comes as an expression of standing by Iraq in the face of the crisis afflicting it.

Is Mr. Macron looking for a major economic opening with Iraq? 

On this topic, the guest of the "Where is the Truth" program on "Sputnik" radio, professor of political thought at Al-Mustansiriya University, Dr. Issam Al-Faily says:
"This visit may come as a continuation of the international and regional openness to Iraq, as they realize that they are dealing with a new project for the Iraqi state, represented by the stability in which the country is living and which opens the doors for investment to France."
Iraq comes in second place in terms of French interest after Lebanon , and Paris may seek to conclude new agreements with Baghdad, as it wants to strengthen its alliance with countries that have direct contact with Turkey," al-Faili said.
Faily added, "France may offer solutions to the problems that Iraq suffers. Economic stability will lead to positive results in any international alliances in the field of energy, and there is also a conviction that Iraq is the beating economic heart in the region."
Details in the attached audio file.


Prepared and presented by: Diaa Hassoun


https://arabic.sputniknews.com/radio_truth/202009011046422542-%D9%87%D9%84-%D9%8A%D9%83%D9%88%D9%86-%D8%A7%D9%84%D8 % B9% D8% B1% D8% A7% D9% 82-% D8% A7% D9% 84% D9% 82% D9% 84% D8% A8-% D8% A7% D9% 84% D8% A7% D9 % 82% D8% AA% D8% B5% D8% A7% D8% AF% D9% 8A-% D9% 84% D9% 84% D8% B4% D8% B1% D9% 82-% D8% A7% D9 % 84% D8% A3% D9% 88% D8% B3% D8% B7% D8% 9F /





I was thinking about this RamblerNash !!

When I read this article as an example, and among many others that I recently posted on the forum.

Is it only me who is asking the question for the return of Iraq to the international according to you?   question




Good day my friend, and to all the members of the forum !!

I have a family party at the end of the day, so we'll see you later !!


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Post by RamblerNash on Mon Sep 07, 2020 4:48 pm

Claud, I think your getting lost in the translations. The articles are talking about trade. Iraq is trying to do that with several countries.

Exchange the word "international" with "global". They mean about the same, but loses quite a bit of the Gurus nuances.

As far as the Dinar currency rate, I know you are aware on what the IMF, UN, and WTO post as the rate, but have you asked yourself why the one posted by the CBI is so different?
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Opinion on the subject of dinars !! Empty The House of Representatives has finished reading two laws and addresses an oral question to the Finance and Planning Ministers

Post by claud39 on Tue Sep 08, 2020 9:41 pm

@RamblerNash wrote:Claud, I think your getting lost in the translations. The articles are talking about trade. Iraq is trying to do that with several countries.

Exchange the word "international" with "global". They mean about the same, but loses quite a bit of the Gurus nuances.

As far as the Dinar currency rate, I know you are aware on what the IMF, UN, and WTO post as the rate, but have you asked yourself why the one posted by the CBI is so different?



Good evening my friend RamblerNash !!

Sorry not to have answered before, that is to say when I saw your message this morning !!
I especially want to specify that I am not an economist, I am like sir, and madam everyone !!

You know RamblerNash, I'm not trying to be right on the subject, I only watch the country's news !!

My goal is to relieve the news on Iraq, and bring it to the truth for the members of the forum, and to discort what is happening in Iraq !!

For me !! I do not share any news from the gurus who say anything, only to truth it on the news of the country !!

Now that I have clearly specified my goal, it is to put oneself like more than 3/4 of the world on the forum, an image of what is happening in Iraq !!

You know !! I have respect for Sam, but remember that most of the forum members do not understand when it comes to high economy, it's too complicated for the forum members !!

What the members of the forum want to know according to me !! And as I mentioned is Iraq going to come back internationally !!

When you mention for the change of the central bank, and this is my personal opinion, they are in parallel market mode, and not in the free market, or internationally !!

They must first secure the borders, and control taxes for example as financing for the country, and the private sector is very important to implement, and especially the reforms that must be voted !!

Look at this article that I am putting for you today !!



Claud (Moose) 





[size=32]The House of Representatives has finished reading two laws and addresses an oral question to the Finance and Planning Ministers[/size]







 09/08/2020

Opinion on the subject of dinars !! Md-2018-2-800x445

The House of Representatives, in its third session of the fourth parliamentary session of the third legislative year of the first legislative term, which was held under the chairmanship of Mr. Mohamed Al-Halbousi, Speaker of the House, has ended today, Tuesday 9/8/2020, the first reading of two laws, He was briefed on the opinions of the two ministers of finance and planning, after asking them verbally on the economic reform paper included in the domestic and foreign borrowing law.


At the beginning of the session, the council postponed the vote on the proposal for the first amendment of the Iraqi Commission for Accreditation Law (78) for the year 2017 submitted by the Economy, Investment and Finance Committees until the government’s opinion regarding the financial aspect of amending the law is taken.


For his part, the President of the Council directed each of the two committees concerned with approaching the Council of Ministers to express their opinion on amending the Iraqi Accreditation and Response Authority Law for a period not exceeding a week. Otherwise, the House of Representatives proceeds to enact the law.


The Council ended the first reading of the draft law of the first amendment to the General Population and Housing Census Law No. 40 of 2008 submitted by the committees monitoring the implementation of the government program and strategic and legal planning in order to reconfigure the General Authority for the General Population and Housing Census in light of the changes taking place in the state’s administrative structure and granting the authority’s president the powers Necessary to conduct a general census of population and housing.


The Council completed the first reading of the proposed law to cancel the (dissolved) Revolutionary Command Council Decision No. 218 of 2002 submitted by the Legal Committee in order to lift the unfairness of the employee who spent years of his life in compulsory service and the movements judged in accordance with the laws of military service and consider that service for the purposes of bonus, promotion, retirement and cancellation The decision of the dissolved Revolutionary Command Council, which considered that service for retirement purposes exclusively.


Mr. Al-Halbousi called for the cooperation of the Financial and Legal Committees to deliberate on the proposed law to cancel the dissolved Revolutionary Command Council's decision before proceeding with the second reading to find out the financial obligations related to it.


In the general discussion section during the session, partly headed by Mr. Al-Haddad, the interventions demanded to expedite the provision of job grades for degree holders, appoint the first to departments and colleges, and seriously consider the demands of those whose contracts have been canceled by the defense and interior staff, and the call to activate the application of the Federal Service Law to ensure social justice between graduates and legislation The Federal Civil Service Law, and the request of the executive authorities to launch financial allocations for the maintenance of external roads linking the governorates, in addition to speeding up the completion of the transactions of the retired people to pay their arrears in addition to the disbursement of the farmers' dues and the redress of the mobilization of the Ministry of Defense, and the demand to respond to the demands of the protesting doctors and other medical personnel in appreciation of their efforts In response to the Corona pandemic.


Deputy Chairman of the Council, Dr. Bashir Al-Haddad directed the Finance and Legal Committees to expedite the legislation of the Federal Civil Service Law and explain the reasons for the increase in the interest rate on loans allocated to retirees from the Rasheed and Rafidian Banks, which reached 20%.


In another matter, the Speaker welcomed the attendance of Messrs. Ali Allawi, Minister of Finance, and Khaled Battal, Minister of Planning, to answer an oral question addressed to them by Representative Muhammad Sahib Al-Darraji, a member of the Finance Committee, in accordance with the bylaw of the House of Representatives to exercise its oversight role.


MP Mohamed Al-Darraji asked about the government's failure to submit the economic reforms paper within the 60-day period stipulated in the Domestic and Foreign Borrowing Law of 2020 in Article Seven of it, noting that the House of Representatives voted on the law on 6/24/2020.


For his part, the Minister of Finance explained that the economic reform program needs a long time to be presented because the economic situation in Iraq is going through a critical situation due to the repercussions of previous cumulative economic policies that the Iraqi state passed since the 1950s in the last century and so far, especially the legislation of the law on agricultural reform and the decisions of the socialist package In addition to the loss of the economic vision that weakened the private sector and made all the resources in the hands of the governments, indicating that the current government suffers from a scarcity of funds that forced it to borrow internally and externally and cannot implement the presentation of the paper within the period specified by the law voted on, noting that the formation of a specialized team with a cadre formed Of 40 employees working continuously to work on preparing and submitting the required paper despite the current health conditions, indicating that the reasons for delaying its submission are technical and historical, setting the ceiling for the government’s submission of the first negotiable reform paper at the end of the current month, while the reforms paper is presented in its formFinal in the middle of next month.


In turn, the Minister of Planning indicated that there are 6,250 projects under construction that need to provide 126 trillion dinars to be completed, and this large number of projects caused the failure to include any new project in the new budget law, explaining that the delay in completing the projects led to the non-provision of services to citizens, including the presence of 42 complexes Uncompleted residential housing needs to be re-counted accurately to begin its implementation, in addition to the necessity to devise a real reform plan to address the delay in implementing projects.


Commenting on the two ministers' answer, MP Muhammad al-Darraji stressed the need to fully and not partially implement the legislated law, wondering about the value of internal and external borrowing and the size of what is allocated to pay salaries or in the investment sector, as well as knowing the value of the exchange rate specified in the next budget.


Minister Allawi pointed out that there are three types of loans, including commercial that the Iraqi government has moved away from, borrowing from governments and the third by borrowing from international development institutions such as the World Bank and the Arab Fund for the purpose of investment, especially those related to the requirements of improving the electricity sector by activating previous economic agreements with my company. Siemens and General Electric, stressing the importance of reviewing the exchange rate so that the Iraqi economy enters the cycle of competition with the interest of the International Monetary Fund in the issue of the exchange rate, noting that the ministry received an amount of 15 trillion dinars in full to meet the needs of salaries.


For his part, the Minister of Planning stated that the Ministry had instructed to stop international obligations to pressure spending units, which led to the deprivation of some provinces of services, indicating the exception of some projects in the governorates that have funds to implement their projects without requiring them for additional funds until liquidity becomes available, stressing the importance of going to alternatives In allocating funds for vital projects to complete them, especially health institutions and residential complexes in the governorates, pointing out that the inclusion of any new project requires its inclusion in the federal budget law or meets any development gap.


And after MP Muhammad al-Darraji, his inquiries about the feasibility of borrowing an amount of 5 billion dollars abroad despite the lack of benefit from previous loans in meeting the needs, and knowing the extent of the continuation of the loan from the central reserve.


In his response, the Minister of Finance indicated that the need to borrow was to support the general budget and fill the financial deficit without giving support to investment projects, explaining that the trend to borrow from the International Monetary Fund comes because it has specific programs that support countries suffering from financial crises such as Iraq by loans for a period of time. Three years, provided that it is linked to administrative and financial reforms, pointing out that the government opened communication channels with the International Monetary Fund, because Iraq has no source for internal borrowing except the Central Bank of Iraq and the absence of accredited financial markets in Iraq, in addition to the fact that government banking institutions are overburdened with debts to the government to finance the financial deficit In the budgets and private banks, they do not have large financial financing.


The minister added that carrying out concrete economic reforms requires 5 years by finding new alternatives for revenues, noting that the total debt represents 80 to 90 percent of the Iraqi national product, and the foreign debt amounts to 160 trillion dinars, including the debts of Kuwait and Saudi Arabia amounting to 40 billion dollars, citing The Ministry of Finance has no possibility of counting the monetary mass in Iraq.


For his part, the Speaker of Parliament stressed the need to present any government move to negotiate any external loan to the relevant parliamentary committees before negotiating with foreign parties, pointing to the treatment of raising the financial restrictions that the government had taken prior to contracts in the provinces that witnessed demonstrations and to allow financial spending units to proceed. To her, expressing his thanks to the two Ministers of Finance and Planning for coming to the Council and answering the parliamentary question related to the implementation of the oversight role.
After that, it was decided to raise the session to next Thursday 10/9/2020
 
Media Department
Parliament
8/9/2020


https://ar.parliament.iq/2020/09/08/%d9%85%d8%ac%d9%84%d8%b3-%d8%a7%d9%84%d9%86%d9%88%d8%a7%d8%a8-%d9%8a%d9%86%d9%87%d9%8a-%d9%82%d8%b1%d8%a7%d8%a1%d8%a9-%d9%82%d8%a7%d9%86%d9%88%d9%86%d9%8a%d9%86-%d9%88%d9%8a%d9%88%d8%ac%d9%87-%d8%b3/
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Post by RamblerNash on Tue Sep 08, 2020 10:41 pm

@claud39 wrote:When you mention for the change of the central bank, and this is my personal opinion, they are in parallel market mode, and not in the free market, or internationally !!
Well...My question was why does the IMF have one rate, but the CBI has another? Maybe that translates better?


Commenting on the two ministers' answer, MP Muhammad al-Darraji stressed the need to fully and not partially implement the legislated law, wondering about the value of internal and external borrowing and the size of what is allocated to pay salaries or in the investment sector, as well as knowing the value of the exchange rate specified in the next budget.



The context in the article is about loans.

Right below what you highlighted is this:


Minister Allawi pointed out that there are three types of loans


Then you have this just below that:


Siemens and General Electric, stressing the importance of reviewing the exchange rate so that the Iraqi economy enters the cycle of competition


Which rate do you think they are talking about? The IMF rate or the CBI rate?
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Post by claud39 on Wed Sep 09, 2020 12:39 pm

@RamblerNash wrote:
@claud39 wrote:When you mention for the change of the central bank, and this is my personal opinion, they are in parallel market mode, and not in the free market, or internationally !!
Well...My question was why does the IMF have one rate, but the CBI has another? Maybe that translates better?


Commenting on the two ministers' answer, MP Muhammad al-Darraji stressed the need to fully and not partially implement the legislated law, wondering about the value of internal and external borrowing and the size of what is allocated to pay salaries or in the investment sector, as well as knowing the value of the exchange rate specified in the next budget.



The context in the article is about loans.

Right below what you highlighted is this:


Minister Allawi pointed out that there are three types of loans


Then you have this just below that:


Siemens and General Electric, stressing the importance of reviewing the exchange rate so that the Iraqi economy enters the cycle of competition


Which rate do you think they are talking about? The IMF rate or the CBI rate?



Very fun to discuss with you, you push me to do some research to answer you on the subject !!
You know I am not the only one who is asking the question which will determine the return of the dinar on the international market, so here is what I found !!



Claud (Moose) 


Who determines the exchange rate?
The exchange rate of a currency is: either fixed, in other words constant with respect to a reference currency (generally the US dollar or the euro), by decision of the State which issues this currency. The rate can then only be changed by a devaluation (or revaluation) decision of that State.


[size=20]Exchange rates - Wikipedia

[/size]
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Opinion on the subject of dinars !! Empty Finance: Government economic policies weaken the private sector

Post by claud39 on Wed Sep 09, 2020 8:49 pm

Finance: Government economic policies weaken the private sector




09/08/2020



Opinion on the subject of dinars !! 21592









Economy News - Baghdad



The Minister of Finance, Ali Allawi, announced that the government's economic policies over the past years have weakened the private sector, indicating that achieving economic and financial reforms requires 5 years, stressing that the economic reform paper will be presented in the middle of next month.

Allawi said in his speech during hosting the House of Representatives today and seen by "Economy News", that the economic reform program needs a long time to present it because the economic situation in Iraq is going through a critical situation due to the repercussions of previous cumulative economic policies that passed on the Iraqi state since the fifties of the last century and until Now, especially the legislation of the Agrarian Reform Law and the decisions of the socialist package, in addition to the loss of the economic vision that weakened the private sector and made all resources in the hands of governments.

He pointed out that the current government suffers from a scarcity of funds that forced it to borrow internally and externally and cannot implement the presentation of the paper within the period specified by the law voted upon, noting that a specialized team has been formed with a cadre of 40 employees working continuously to work on preparing and submitting the required paper despite the circumstances. The current health system, indicating that the reasons for delaying its submission are technical and historical, setting the ceiling for the government’s submission of the first negotiable reform paper at the end of this month, while the reforms paper will be submitted in its final form in the middle of next month .

Minister Allawi pointed out that there are three types of loans, including commercial that the Iraqi government has moved away from, borrowing from governments and the third by borrowing from international development institutions such as the World Bank and the Arab Fund for the purpose of investment, especially those related to the requirements of improving the electricity sector by activating previous economic agreements with my company. Siemens and General Electric, stressing the importance of reviewing the exchange rate so that the Iraqi economy enters the cycle of competition with the interest of the International Monetary Fund in the issue of the exchange rate, noting that the ministry received an amount of 15 trillion dinars in full to meet the needs of salaries .

The Minister of Finance indicated that the need to borrow was to support the general budget and fill the financial deficit without giving support to investment projects, explaining that the tendency to borrow from the International Monetary Fund comes because it has specific programs supportive of countries suffering from financial crises such as Iraq with loans for a period of three years provided that they are linked With administrative and financial reforms, pointing out that the government opened communication channels with the International Monetary Fund because Iraq has no source for internal borrowing except the Central Bank of Iraq and the absence of accredited financial markets in Iraq, in addition to the fact that government banking institutions are saturated with debts to the government to finance the financial deficit in budgets and private banks are not It has a large financial financing .

The minister added that it takes 5 years to carry out concrete economic reforms by finding new alternatives for revenues, noting that the total debt represents 80 to 90 percent of the Iraqi national product, which amounts to 160 trillion dinars of foreign debt, including Kuwait and Saudi Arabia's debts amounting to 40 billion dollars, stating no The possibility of the Ministry of Finance to count the monetary mass in Iraq.














Sorry RamblerNash !!

  But today you made me think about your questions, and by the way very fun to discuss with someone who is, or not in agreement with oneself, but who gives us an opinion which poses real questions to us !!

My goal is not to be right, on the contrary !!

But as the members of the forum are embarrassed to participate in the discussion, and I want to specify, the members who do not really know what is currently happening in Iraq, and especially the economic side, except that to trust gurus! !

My goal is to put an image so that the members can understand, you know it's nice to criticize, and challenge what the gurus tell us !! But ordinary people get lost in this story !!

We each have a way of seeing the situation in Iraq, and of understanding what they are telling us either on government websites, or in the country's newspapers !!


So here is my understanding in this text !!



Claud (Moose)
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Opinion on the subject of dinars !! Empty Re: Opinion on the subject of dinars !!

Post by claud39 on Wed Sep 09, 2020 9:29 pm

setting the ceiling for the government’s submission of the first negotiable reform paper at the end of this month, while the reforms paper will be submitted in its final form in the middle of next month.


the third by borrowing from international development institutions such as the World Bank and the Arab Fund for the purpose of investment, especially those related to the requirements of improving the electricity sector by activating previous economic agreements with my company. Siemens and General Electric, stressing the importance of reviewing the exchange rate so that the Iraqi economy enters the cycle of competition with the interest of the International Monetary Fund in the issue of the exchange rate, noting that the ministry received an amount of 15 trillion dinars in full to meet the needs of salaries.

From my side I see that the finance ministry is talking about implementing a rate change !!


Siemens and General Electric, stressing the importance of reviewing the exchange rate for the Iraqi economy to enter the cycle of competition with the interest of the International Monetary Fund in the exchange rate issue, noting that the ministry has received an amount of 15 trillion dinars in total to meet the needs of wages.


You see my understanding !!
To trade you must have an exchange rate, and the ministries of finance ask to put an exchange rate to trade with other countries in the next budget which is the 2021 budget !!

Claud (Moose)
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Opinion on the subject of dinars !! Empty Re: Opinion on the subject of dinars !!

Post by claud39 on Wed Sep 09, 2020 9:32 pm

@claud39 wrote:Finance: Government economic policies weaken the private sector




09/08/2020



Opinion on the subject of dinars !! 21592









Economy News - Baghdad


The Minister of Finance, Ali Allawi, announced that the government's economic policies over the past years have weakened the private sector, indicating that achieving economic and financial reforms requires 5 years, stressing that the economic reform paper will be presented in the middle of next month.
Allawi said in his speech during hosting the House of Representatives today and seen by "Economy News", that the economic reform program needs a long time to present it because the economic situation in Iraq is going through a critical situation due to the repercussions of previous cumulative economic policies that passed on the Iraqi state since the fifties of the last century and until Now, especially the legislation of the Agrarian Reform Law and the decisions of the socialist package, in addition to the loss of the economic vision that weakened the private sector and made all resources in the hands of governments.
Il a souligné que le gouvernement actuel souffre d'une pénurie de fonds qui l'a contraint à emprunter en interne et en externe et ne peut pas mettre en œuvre la présentation du document dans le délai spécifié par la loi votée , notant qu'une équipe spécialisée a été formée avec un cadre de 40 employés travaillant continuellement à préparer et à soumettre le document requis malgré les circonstances. Le système de santé actuel, indiquant que les raisons de retarder sa soumission sont techniques et historiques, fixant le plafond pour la soumission par le gouvernement du premier document de réforme négociable à la fin de ce mois , tandis que le document de réforme sera soumis dans sa forme finale en au milieu du mois prochain  .
Le ministre Allawi a souligné qu'il existe trois types de prêts, y compris les prêts commerciaux dont le gouvernement irakien s'est éloigné , les emprunts auprès des gouvernements et le troisième en empruntant à des institutions internationales de développement telles que la Banque mondiale et le Fonds arabe à des fins d'investissement, notamment ceux liés aux exigences d'amélioration du secteur électrique en activant des accords économiques antérieurs avec mon entreprise. Siemens et General Electric, soulignantl'importance de revoir le taux de change pour que l'économie irakienne entre dans le cycle de concurrence avec l'intérêt du Fonds monétaire international dans la question du taux de change, notant que le ministère a reçu un montant de 15 billions de dinars au total pour répondre aux besoins des salaires  .
Le ministre des Finances a indiqué que la nécessité d'emprunter était de soutenir le budget général et de combler le déficit financier sans soutenir les projets d'investissement , expliquant que la tendance à emprunter au Fonds monétaire international vient du fait qu'il a des programmes spécifiques en faveur des pays souffrant de crises financières telles que l'Irak avec des prêts pour une période de trois ans à condition qu'ils soient liés à des réformes administratives et financières , soulignant que le gouvernement a ouvert des canaux de communication avec le Fonds monétaire international parce que l'Irakn'a pas de source d'emprunt interne à l'exception de la Banque centrale d'Irak et de l'absence de marchés financiers accrédités en Irak, en plus du fait que les institutions bancaires gouvernementales sont saturées de dettes envers le gouvernement pour financer le déficit financier des budgets et les banques privées ne le sont pas Il dispose d'un financement financier important  .
Le ministre a ajouté qu'il fallait 5 ans pour mener à bien des réformes économiques concrètes en trouvant de nouvelles alternatives de revenus, notant que la dette totale représente 80 à 90% du produit national irakien, ce qui équivaut à 160 billions de dinars de dette extérieure, y compris le Koweït et Les dettes de l'Arabie saoudite s'élevant à 40 milliards de dollars, déclarant non La possibilité pour le ministère des Finances de compter la masse monétaire en Irak.












Désolé RamblerNash !!
  Mais aujourd'hui tu m'as fait réfléchir à tes questions, et d'ailleurs très amusant de discuter avec quelqu'un qui est, ou pas d'accord avec soi, mais qui nous donne un avis qui nous pose de vraies questions !!
Mon objectif n'est pas d'avoir raison, au contraire !!
Mais comme les membres du forum sont gênés de participer à la discussion, et je tiens à préciser, les membres qui ne savent pas vraiment ce qui se passe actuellement en Irak, et surtout le côté économique, sauf celui de faire confiance aux gourous! !
Mon objectif est de mettre une image pour que les membres puissent comprendre, vous savez que c'est sympa de critiquer, et de contester ce que les gourous nous disent !! Mais les gens ordinaires se perdent dans cette histoire !!
Nous avons chacun une façon de voir la situation en Irak, et de comprendre ce qu'ils nous disent soit sur les sites Web du gouvernement, soit dans les journaux du pays !!

Alors voici ma compréhension dans ce texte !!


Claud (orignal)
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Opinion on the subject of dinars !! Empty Re: Opinion on the subject of dinars !!

Post by RamblerNash on Thu Sep 10, 2020 6:50 am

@claud39 wrote:
@RamblerNash wrote:
@claud39 wrote:When you mention for the change of the central bank, and this is my personal opinion, they are in parallel market mode, and not in the free market, or internationally !!
Well...My question was why does the IMF have one rate, but the CBI has another? Maybe that translates better?


Commenting on the two ministers' answer, MP Muhammad al-Darraji stressed the need to fully and not partially implement the legislated law, wondering about the value of internal and external borrowing and the size of what is allocated to pay salaries or in the investment sector, as well as knowing the value of the exchange rate specified in the next budget.



The context in the article is about loans.

Right below what you highlighted is this:


Minister Allawi pointed out that there are three types of loans


Then you have this just below that:


Siemens and General Electric, stressing the importance of reviewing the exchange rate so that the Iraqi economy enters the cycle of competition


Which rate do you think they are talking about? The IMF rate or the CBI rate?



Very fun to discuss with you, you push me to do some research to answer you on the subject !!
You know I am not the only one who is asking the question which will determine the return of the dinar on the international market, so here is what I found !!



Claud (Moose) 


Who determines the exchange rate?
The exchange rate of a currency is: either fixed, in other words constant with respect to a reference currency (generally the US dollar or the euro), by decision of the State which issues this currency. The rate can then only be changed by a devaluation (or revaluation) decision of that State.



Exchange rates - Wikipedia


@claud39 wrote:Very fun to discuss with you, you push me to do some research to answer you on the subject !!
You know I am not the only one who is asking the question which will determine the return of the dinar on the international market, so here is what I found !!
The return -->Iraq<-- on the international market. That's not the same as returning a currency and takes on a different meaning. Most of the news articles you post are about Iraq returning, and not the currency.


@RamblerNash wrote:Which rate do you think they are talking about? The IMF rate or the CBI rate?
You keep missing this one, and within the context of the original article.

And yes, the state (CBI) determines the exchange rate, and the exchange rate regime. It is currently pegged and they make periodic adjustments to maintain stability.


~~~~~~~~~~

In your other article, you have this:


@claud39 wrote:Siemens and General Electric, stressing the importance of reviewing the exchange rate for the Iraqi economy to enter the cycle of competition with the interest of the International Monetary Fund in the exchange rate issue, noting that the ministry has received an amount of 15 trillion dinars in total to meet the needs of wages.
Notice that it says "in the exchange rate issue". Same question, do you think they are talking about the IMF rate or the CBI rate?


@Claud39 wrote:You see my understanding !!
To trade you must have an exchange rate, and the ministries of finance ask to put an exchange rate to trade with other countries in the next budget which is the 2021 budget !!

Claud (Moose)
Are you sure they aren't talking about the rate for the loans? The CBI already posts the exchange rate on their site for different countries.
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Opinion on the subject of dinars !! Empty Re: Opinion on the subject of dinars !!

Post by RamblerNash on Thu Sep 10, 2020 6:55 am

@claud39 wrote:Finance: Government economic policies weaken the private sector




09/08/2020



Opinion on the subject of dinars !! 21592









Economy News - Baghdad


The Minister of Finance, Ali Allawi, announced that the government's economic policies over the past years have weakened the private sector, indicating that achieving economic and financial reforms requires 5 years, stressing that the economic reform paper will be presented in the middle of next month.
Allawi said in his speech during hosting the House of Representatives today and seen by "Economy News", that the economic reform program needs a long time to present it because the economic situation in Iraq is going through a critical situation due to the repercussions of previous cumulative economic policies that passed on the Iraqi state since the fifties of the last century and until Now, especially the legislation of the Agrarian Reform Law and the decisions of the socialist package, in addition to the loss of the economic vision that weakened the private sector and made all resources in the hands of governments.
He pointed out that the current government suffers from a scarcity of funds that forced it to borrow internally and externally and cannot implement the presentation of the paper within the period specified by the law voted upon, noting that a specialized team has been formed with a cadre of 40 employees working continuously to work on preparing and submitting the required paper despite the circumstances. The current health system, indicating that the reasons for delaying its submission are technical and historical, setting the ceiling for the government’s submission of the first negotiable reform paper at the end of this month, while the reforms paper will be submitted in its final form in the middle of next month .
Minister Allawi pointed out that there are three types of loans, including commercial that the Iraqi government has moved away from, borrowing from governments and the third by borrowing from international development institutions such as the World Bank and the Arab Fund for the purpose of investment, especially those related to the requirements of improving the electricity sector by activating previous economic agreements with my company. Siemens and General Electric, stressing the importance of reviewing the exchange rate so that the Iraqi economy enters the cycle of competition with the interest of the International Monetary Fund in the issue of the exchange rate, noting that the ministry received an amount of 15 trillion dinars in full to meet the needs of salaries .
The Minister of Finance indicated that the need to borrow was to support the general budget and fill the financial deficit without giving support to investment projects, explaining that the tendency to borrow from the International Monetary Fund comes because it has specific programs supportive of countries suffering from financial crises such as Iraq with loans for a period of three years provided that they are linked With administrative and financial reforms, pointing out that the government opened communication channels with the International Monetary Fund because Iraq has no source for internal borrowing except the Central Bank of Iraq and the absence of accredited financial markets in Iraq, in addition to the fact that government banking institutions are saturated with debts to the government to finance the financial deficit in budgets and private banks are not It has a large financial financing .
The minister added that it takes 5 years to carry out concrete economic reforms by finding new alternatives for revenues, noting that the total debt represents 80 to 90 percent of the Iraqi national product, which amounts to 160 trillion dinars of foreign debt, including Kuwait and Saudi Arabia's debts amounting to 40 billion dollars, stating no The possibility of the Ministry of Finance to count the monetary mass in Iraq.












Sorry RamblerNash !!
  But today you made me think about your questions, and by the way very fun to discuss with someone who is, or not in agreement with oneself, but who gives us an opinion which poses real questions to us !!
My goal is not to be right, on the contrary !!
But as the members of the forum are embarrassed to participate in the discussion, and I want to specify, the members who do not really know what is currently happening in Iraq, and especially the economic side, except that to trust gurus! !
My goal is to put an image so that the members can understand, you know it's nice to criticize, and challenge what the gurus tell us !! But ordinary people get lost in this story !!
We each have a way of seeing the situation in Iraq, and of understanding what they are telling us either on government websites, or in the country's newspapers !!

So here is my understanding in this text !!


Claud (Moose)

The minister added that it takes 5 years to carry out concrete economic reforms by finding new alternatives for revenues, noting that the total debt represents 80 to 90 percent of the Iraqi national product, which amounts to 160 trillion dinars of foreign debt, including Kuwait and Saudi Arabia's debts amounting to 40 billion dollars, stating no The possibility of the Ministry of Finance to count the monetary mass in Iraq.
Here they are talking about other than oil revenues. This is what Sam has been talking about and can be supported by articles from the IMF, WTO, etc.

It's about diversifying their economy because oil can be volatile, as we have recently seen, and give them a buffer.
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Opinion on the subject of dinars !! Empty Re: Opinion on the subject of dinars !!

Post by claud39 on Thu Sep 10, 2020 1:14 pm

It's great fun to have your comment on the subject, and I'll give you a big reason for what you're telling me !!

But we do not see it in the same way, here is my opinion on your questions, and above all I do not want to be right on the subject, but to give an opinion so that the forum world understands what is happening !! !


(The return -> Iraq <- to the international market. It is not the same as returning a currency and takes on a different meaning. Most of the articles you publish are about the return of Iraq, not the currency. .)

Quite right about it !!!

(The return -> Iraq <- to the international market. It is not the same as returning a currency and takes on a different meaning.)

This is RamblerNash what I wanted to say about your questioning, for me when I apply for the news of the day is to see the reality of the country, and not to rely on the gurus, so when I see the articles that the international alliance is pushing behind Iraq to return to the international market, and that France and the United States sign a big contract, and that French President Emmanuel Macron says that Iraq must return to the international scene !!

So for me, and you are right that I publish news of the return of Iraq, and not about the currency !!

I mention this I am not an economist, but when I read the news on CBI I notice that they are not in the open market (ie internationally) they are in the secondary market right now, if I understand good !!!

He is going to have a meeting with the WTO soon, it should have been done last fall, but it had been postponed, so for me if they are going to discuss between them, it is not to talk about the good weather, but to speak well of foreign trade, then the government must decide to put, and the CBI also a value on the international one !!

I am going to share with you an Arabic translation of the central bank that I was reading during my research !!!!




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Opinion on the subject of dinars !! Empty Summary of CBI policy tools

Post by claud39 on Thu Sep 10, 2020 1:40 pm

Summary of CBI policy tools
 ************************************


 The Board of Directors of the Central Bank of Iraq approved at the sixth meeting
On the twenty of August, new regulations for the legal reserve requirements and banking facilities
Attached herewith, this statement reviews the general features of the new regulations and explains the reasons for their adoption
For the purpose of strengthening the monetary policy management of the Central Bank of Iraq and in supporting the new program that
The Ministry of Finance adopted it in issuing securities.

The Central Bank of Iraq will issue initial instructions to implement the terms of the new regulations,
Changes were made to the regulations of the Central Bank of Iraq and its banking operations to give it control
Better on the money supply and at the same time it gives high confidence to the banks in terms of options
And the conditions for managing the liquidity of their banks, and it is expected that the stock markets will play
The government has an important positive role in managing bank liquidity in accordance with the new regulations and on the other hand
Banks are expected to strengthen their financial position to manage their short-term liquidity requirements
The term (or what is more generally called the market), when banks finally resort to the bank
Central as a last resort.

In order to clarify this, the Central Bank of Iraq will hold several meetings with banks in
The near future to discuss the proposed regulations.


The Ministry of Finance made a change in the method of financing the deficit in its revenues due to the restrictions
The new legal framework imposed upon it when borrowing from the Central Bank of Iraq due to its desire to
Conducting the development of an active market for government securities, according to the requirements of the Public Debt Law
Newly approved, all debt services will be paid in cash, which is why the government securities valuations were paid
With its interest, which are due on the first of July and October for their holders, as for the papers
Government finances owned by the Central Bank of Iraq will be treated according to an agreement concluded between the Ministry of Finance
And the Central Bank of Iraq to restructure the claims of the Central Bank of Iraq against the government,
The Ministry of Finance has already started issuing new securities to finance those owed by it, and they may be sold
New securities after being released on the secondary market.

The Central Bank of Iraq reformulated its banking relationship with banks to develop a market
It depends on new monetary policy tools for the purpose of facilitating the development of the new stock market
For the Ministry of Finance, there is no requirement for now from the banks to acquire equivalent securities
10% of total deposits (now included in the list of reserve requirements).


The Central Bank of Iraq will not deal in the future in the sale or purchase of securities as desired
In addition, the banks closed the exposure facilities and advances granted by the bank
The Central Bank of Iraq replaced it with new existing facilities for lending and deposits, which it approved
Recently, the bank’s board of directors, and the regulation of statutory reserve requirements, will come into effect in one month
November The Central Bank of Iraq may buy or sell securities for a ministry by a decision
Finance at banks according to a competitive principle for the needs and purposes of monetary policy (to be launched
All these instrument-related changes are detailed below
The new monetary policy: -

Monetary Policy Tools:

The formulation prepared by the Central Bank of Iraq for monetary policy tools serves to strengthen
The ability of banks to manage short-term liquidity, which is directed by the Central Bank of Iraq
The required monetary policy (which can be evaluated according to various intermediate variables, including
The yield curve, the exchange rate, and the amount of growth in the money supply) in terms of capacity
Liquidity management, the monetary policy tools adopted by the central bank must work with ASWAQ
Cash and other securities to create an effective payment system that gives banks confidence in meeting obligations
Pay it and have reasonable costs.

To be sure, the most costly to provide liquidity is by using additional reserves (such as cash in
Safes and balances with the Central Bank of Iraq in excess of the reserve requirements
Legal) as well as the margins of intervention (the difference between interest rates on deposits and on loans)
They can be reduced by allowing the banks to reduce their holdings of the returns arising from excess reserves
They do not bear interest and the ability of banks to reduce their excess reserves depends on finding intermediaries
Reliable liquidity management.

The Central Bank of Iraq has taken effective and influential tools on the liquidity market (basic cash), which are: -

1 - Foreign currency auctions in which the Central Bank of Iraq buys or sells dollars from
Or to the market in light of its political goals.

2- A list of statutory reserve requirements on which banks rely for possession
Customer deposits, i.e. with differential levels of deposits with the Central Bank of Iraq, cash
In the treasuries and securities of the Ministry of Finance.

3- Exposure facilities for banks that have reserve account balances in the bank
The Iraqi Central Bank, but it is not sufficient to settle its obligations at the end of the working day
Banker


4- The discount window for bills of exchange or similar bank notes with lesser terms
From 90 days and endorsed by at least two signatures (currently imposed at 11% for papers
First Class Finance).

5- Lender of last resort facilities, which are given to troubled banks
Chronic liquidity in exchange for a guarantee offered by it.

6- The Ministry of Finance's securities window and buy or sell such banks under it
Government papers at face value (i.e. at the interest rate upon issuance)
The aforementioned tools are insufficient to develop an effective market that directs the financial sector, in particular
Not suitable for developing a market with sufficient liquidity for government securities or for management
A market built on the basis of monetary policy, and we believe that foreign currency auctions are in place
Recently, they are working well and satisfactorily while other tools have been reformulated, as well
The legal reserve requirements do not provide banks with useful liquidity management tools and may confuse
In achieving the monetary goal as it subscribes to the requirements of government securities
Don't be a part of it.

The diversity of lending facilities is not very transparent and does not always serve its goals
Policy, and the Ministry of Finance's securities window provides sufficient liquidity, but with restrictive conditions
The development of secondary dealing and an interbank market.

 Moreover, the securities window
The Ministry of Finance suspended the role of the Central Bank of Iraq in monitoring one of the most important management tools
On cash, as they allowed banks to deal with the Central Bank of Iraq, to ​​buy or sell
Securities for the Ministry of Finance as granted articles 28, 29 and 30 of the Central Bank Law
The Iraqi has the authority to manage open market operations and to provide existing facilities to the banks
He laid the foundations for legal reserve requirements, and the authority granted him, in exceptional circumstances, that
The lender would be the last resort, as the aforementioned articles prepared the foundations for creating policy instruments
His speech, which will be approved by the Central Bank of Iraq in this field.

It is noted that the purpose of preparing the new statutory reserve requirements and facilities regulations
Banking is to facilitate the more effective liquidity management of banks in the market and encourage banks
To deal with each other more broadly, rather than dealing exclusively with the central bank
Al-Iraqi exclusively for liquidity management.

Below we list the main causes and features of each new tool: -

Legal Reserve Requirements:

In fact, the legal reserve requirements of the Central Bank of Iraq, and confirmed in
12/12/2003 are three separate requirements in unified instructions.

 It is required that the banks:

Freeze deposits are deposited with the Central Bank of Iraq, which is currently at 20% of liabilities
Deposits and / or current deposits for the previous month, at a rate of 5% of liabilities for savings deposits, and at a rate of 2%
Of fixed and / or temporary deposit obligations, in addition to that, the instructions include two basic requirements
Separate holders of securities of the Ministry of Finance and at least 10% of total liabilities
Bank deposits with a percentage of not less than 10% of the total deposit obligations. 

The request for withdrawal shall be considered
Reserve balances are not compensable, and statutory reserve requirements are declared by instructions
Before the Board of Directors of the Central Bank of Iraq and went to the General Directorate of Statistics and Research and to
The General Directorate of Credit and Banking Supervision. The banks report prepared in accordance with the instructions shall be sent
To the General Directorate of Accounts.

The statutory reserve requirements do not reflect best practices and accordingly, the Central Bank of Iraq
Establishing new requirements for the purpose of providing for the monetary policy needs of the market economy, and wherever they exist
Legal reserve requirements are generally seen as a monetary policy tool rather than a control tool
Accordingly, the responsibility for monitoring each bank is subject to the new requirements that have been implemented
Transferring it from the General Directorate of Credit Control and Banking to the General Directorate of Agreements
And loans, which in turn will bear the primary responsibility for embedding monetary policy as preferred
Preparing unified requirements for monetary policy purposes (i.e. the same for all reserve deposits).


The ratio of the new requirements shall be applied to all deposit liabilities with respect to the concept of cash
The cash multiplier (the ratio of the quantity of cash in relation to the base cash) is more stable and more dependent on it,
In addition, it has a neutral effect on the public’s choice of deposit maturities, which in reality are
It is preferred from a tax policy point of view as foreign currency deposits are also included

The deposit is the basis for the legal reserve requirements, so foreign currency deposits cannot be preferred
And then (the dollarization process) (that is, the dominance of the dollar currency over the Iraqi dinar) and that is why
Requirements for deposits of dinars or foreign currency must be in dinar currency.


The instructions imposed various requirements on banks' deposits with the Central Bank of Iraq
And on cash in the treasury, in fact, the new requirements have been standardized to be requirements
Identical meeting the cash obligations of each bank that maintains deposits in its current account or cash in the treasury
At the Central Bank of Iraq.


The initial return that banks achieve for the new requirements results from the possibility of the
Requirements are on an average basis rather than on a permanent basis.

The requirements will continue to be fixed for monthly periods, but the frozen current deposits are transferred to
A single clearing account for each bank, and the balances kept in its accounts are based on the rate
The average to meet the requirements can be deposited in Iraqi dinars with the Central Bank of Iraq
(And not in the existing deposit facilities) in addition to the new Iraqi cash in bank vaults
The bank may use its deposit or all of its deposits with the Central Bank of Iraq on any day as long as
The statutory reserve rate at the end of the working day (plus the average rate of the Iraqi dinar
The amount in the treasury cash) is equal to or more than the required amount.

The Board of Directors of the Central Bank of Iraq set the reserve ratio at 25% due to requirements
The new legal reserve allowed the banks to use the Iraqi dinar cash in the treasury for repayment
With the requirements, as it will grow with the increase in the assets of the statutory reserve and for the purpose of determining the effect of this
The change in the bank's liquidity (without raising the rate of requirements more than usual) was stipulated
The board of directors shall deposit (20% of the deposits) of the bank with the Central Bank of Iraq
(5% of it) is cash in the bank's vaults.

The average monthly rate for a period can turn statutory reserve requirements into a useful tool
For the purpose of absorbing the wide fluctuations of the liquidity of the bank and according to the daily situations and work stops
At 10% of the statutory reserve requirements for government securities, as a requirement
Separate for cash in the safe.


Existing Facilities:

When financial markets and more broadly, financial systems are underdeveloped, so do banks
Central to rely on existing facilities more than open market operations and in this respect
In particular, existing facilities as a safety valve for response may lead to unfair liquidity developments
Expected or to the various obstacles or inefficiencies that hinder an orderly redistribution of reserves
Via the interbank market. This safety valve function is also necessary, when
Understating the liquidity forecast, the new CBI law allows the bank to save money
Loans and deposit facilities These facilities and the lender of last resort will replace the facilities
Exposure and advances that were used, and the new law does not allow the exposure of deposit balances
Banks at the Central Bank of Iraq.


The purpose of the deposit facilities and the existing facilities is to give security to banks to manage a surplus
Its liquidity is within a moderate rate of interest rates, which broadens the policy objectives of the bank
Central Iraqi Central Bank related to short-term interest rates and in the absence of developed markets
For securities and interbank cash, in which the central bank's open market operations are managed
The Iraqi is expressing his view on the appropriate short-term interest rates
For monetary policy by finding the bank rate ("rate policy)" as an indicative rate
The existing and deposit facilities carry interest rates related to the bank rate and also provide the rates for example

This type of facility is an interest rate that fluctuates between depositing and receiving cash from the bank.
The Iraqi Central Bank for a specified maturity period (overnight investment) as this margin is necessary
To encourage banks to develop a market and easily manage liquidity between them without being present
Necessarily, a permanent deal with the Central Bank of Iraq and as soon as the interbank market develops
Remarkably, the objective of the Central Bank of Iraq in open market operations is to maintain the same
Short-term interest rates between banks are included in the price outlay of two types
Existing facilities.

The rates charged on existing deposit and lending facilities are floating at a level higher or lower than that
The prevailing prices in the money market, and until the development of dealing in the securities of the Ministry of Finance in
The money market and the secondary market between banks. Prices for these two types of facilities will be set
They have a relationship to the policy rate of the central bank, and the central bank must carefully monitor the price
In light of the monetary policy objectives, noting that the bank’s board of directors had set the bank’s rate at 6%.

Existing lending facilities

The existing pre-credit facility provides overnight credit to banks in exchange for a suitable collateral
The desire of banks to borrow as banks will be allowed to borrow in the overnight investment to the maximum amount
Possible in relation to the bank's capital (as long as the bank offers adequate collateral) and at an interest rate
Initial credit day. 

The interest rate will be set at a higher rate than the Central Bank of Iraq rate
The Board of Directors of the Central Bank set the initial credit rate at the bank’s rate plus 2%, ie
It becomes 8% and decreases in the future, when the initial interest rate expands and increases prudence
In the nature of the incidental and temporary facilities, a greater increase will be imposed when using the facilities
For a period exceeding 15 days for each month under the secondary credit facilities, it may be used
The primary credit bank is for a period of 15 days per month and can be used for additional days per month
The concerned person, subject to the prior approval of the Central Bank of Iraq, and in other cases, the bank may be used


Initial credit up to 20% of the bank’s capital, or it may be used in excess of the amount
Also specified subject to the prior approval of the Central Bank.

Secondary credit facilities have the same qualification scale as primary credit facilities, but it is possible
To be extended for longer periods and at a higher interest rate, and granted based on a decision by the Central Bank.

 To begin
A margin of (1) percent will be imposed over the initial credit price, to become 9%, and it is not beneficial
Banks may borrow additional money under these conditions and in circumstances in which they do not suffer from
Temporary banking crises as the Central Bank of Iraq has to settle and be covered
Lending to banks suffering from acute crises with last resort facilities, which will be discussed later
As part of the audit procedures imposed by the General Directorate of Supervision on
Banks and guarantee all the advances of the Central Bank of Iraq under these facilities with guarantees
Accepted by the Central Bank of Iraq, and it shall publish a list of acceptable guarantees for each type of
The facilities may be revised at any time. In principle, the matter relates to credit facilities
First, the Central Bank of Iraq must accept securities issued by the Ministry of Finance
Those with maturities of less than 180 days, as banks have to pledge their securities
In the securities deposit account of the Ministry of Finance by directing the Central Bank of Iraq
To indicate the required amount, which is a pledge in the guarantees account of the Central Bank of Iraq.


LLR facility

The Central Bank of Iraq law also allows lending to banks suffering from financial crises in Iraq
Under exceptional circumstances, as an example, a bank may declare bankruptcy as a result of malicious rumors or
The Central Bank of Iraq might grant a loan to a bank with insufficient solvency, but it continues to struggle
If there is a chronic shortage of liquidity, and for this purpose the bank will be in the two mentioned examples at pain
Intensive audit and it is expected that the audit procedures will continue in order to control the obstacles that suffer
Of them, and in general, what appears at first glance about the cause of the liquidity crisis lies in the inability to
Paying all debts at the same time.

In fact, many countries are making great efforts to support banks that suffer from deficiency
The ability to pay off debts by granting it loans to support its liquidity and through its public treasury
The Central Bank of Iraq does not have the condition that a bank lend to something that suffers from inability to repay
Debts, as the Central Bank of Iraq law specifically defined the conditions for exceptional loans
Article 30 of it and no such loans are granted unless the following conditions are met:

A- If the bank, according to the opinion of the Central Bank of Iraq, is able to pay it
To repay the debts and he had provided an adequate guarantee when borrowing and that his request from the bank

The Iraqi Central Bank is for its financial assistance and is based on the need to improve liquidity
Has or,

B - that such a request for assistance is necessary for the purpose of maintaining the stability of the financial system
The Minister of Finance shall issue a guarantee to the Central Bank of Iraq, written on behalf of
The government of Iraq pledges to repay the loan amount.

A last resort lender facility can raise the secured loan amount for periods
Longer and the central bank can accept collateral in conventional formats (taking care of their evaluation),
The interest rate charged on the lender of last resort facility will be the bank's rate
(Indicative price) that is determined by the Central Bank of Iraq, plus a percentage
 . 5.9%, to become 5.3%

Facilities on deposits

 The Central Bank of Iraq will create an existing deposit facility in which deposits can be accepted
For overnight investment from banks with excess balances.

The central bank cannot place deposits in the facility account unless the bank requests it to do so
Explicitly, the interest rate on such deposits is set at a lower rate than the bank rate specified by the bank
The Central Bank of Iraq will, in principle, set a rate of 2% less than the bank rate. 

This is The facilities will create a solid base for interest rates with very short terms and will help the bank to obtain
Finding stability to some extent when it predicts future interest rates, and until the development of the stock market
Government finance, where the central bank can efficiently manage the open market operations, the facilitation
Deposits can automatically withdraw excess liquidity from the banking sector.


Bank rate

The monetary policy of the Central Bank of Iraq expresses itself regarding the stated interest rates in the market
Cash is for short term periods. Currently, this market is underdeveloped and therefore cannot be relied upon for
Giving a picture of the policy of the Central Bank of Iraq, until the market or secondary market develops
In the area of ​​securities of the Ministry of Finance with short term maturities, the bank will focus
The Central Bank aims to determine the prevailing interest rates among banks for overnight investment by setting a rate
Indicative interest. 

This rate is called the bank rate. Banks are free to set interest rates
In dealing with one another in the market according to any interest rate agreed upon between them. The bank rate is
The indicative price at which the prices are determined in the primary and secondary market and for last resort loans


As well as overnight investment deposit rates. Therefore, the rate considered by the Central Bank of Iraq
Suitable to maintain price stability, and that its monetary policy will try hard to achieve stability
(That is by maintaining bank liquidity at levels in line with the bank's rate).

Open market operations

The central bank can influence bank liquidity (excessive reserves) and then influence
Short-term interest rates by buying and selling government securities. The process of selling
Securities in the market and from the assets of the Central Bank of Iraq will lead to the withdrawal of liquidity
From the banking system (i.e. by reducing bank balances in their reserve accounts with the bank
In contrast, the Central Bank of Iraq purchases from the market will increase from
Liquidity with the bank (that is, from its reserve account balances) such operations are for the market
The open will create an important secondary tool and provide effective liquidity management (in conjunction with currency auctions
Foreign).

Also, different strategies can be followed in open market operations, for example and for a purpose
Achieving long-term monetary growth, the Central Bank of Iraq may choose one of these strategies, adopting it
On the accumulation of foreign currency reserves, and the growth of the monetary impact of foreign currency reserves results
Whether in high or low prices, through the process of direct intervention for the purpose of imposing
Stability of the foreign currency exchange rate, which may impede the open market process,
Otherwise, such operations may be determined in order to create a state of stability in my liquidity
Banks and to maintain the market for short-term interest rates within the expense of facilitation rates
And deposits to the Central Bank of Iraq.

The open market operations depend on the basis of auction with banks, and such auctions are somewhat similar
What is with the foreign currency auctions, which are currently managed by the Central Bank of Iraq, and the bank will take
The Central Bank of Iraq should be taken into account, especially when government stock market operations develop
Purchase or buyback contracts as an effective tool in open market operations.



Khawla /




https://cbi.iq/static/uploads/up/file-153077893228064.pdf


Last edited by claud39 on Thu Sep 10, 2020 2:51 pm; edited 1 time in total
claud39
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Opinion on the subject of dinars !! Empty Re: Opinion on the subject of dinars !!

Post by claud39 on Thu Sep 10, 2020 2:31 pm

the monetary policy tools adopted by the central bank must work with ASWAQ
Cash and other securities to create an effective payment system that gives banks confidence in meeting obligations






About Aswaq


Aswaq.com is the eCommerce site for the New Markets Store Trading Company.

The first 100% Saudi owned eCommerce site at a level competing directly with the top international eCommerce companies. We operate as a full Retail business in order to assure the Authenticity and High Quality of our products that we source through all legitimate local manufacturers and official distributors in the Kingdom and covered by their local warranties.

We offer very Competitive Prices, Genuine Products, Local Distributor Warranty, Fast Deliveries to all regions in Saudi Arabia, Easy Payment Choices, Free Return or Exchange.

The whole project was locally developed and managed by the Saudi Almanarah Comm & IT Co. Ltd.

The New Markets Store Company - Aswaq.com A Leading Saudi Company





https://www.aswaq.com/en/aboutus/
claud39
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Opinion on the subject of dinars !! Empty Re: Opinion on the subject of dinars !!

Post by RamblerNash on Sat Sep 12, 2020 9:36 pm

@claud39 wrote:the monetary policy tools adopted by the central bank must work with ASWAQ
Cash and other securities to create an effective payment system that gives banks confidence in meeting obligations






About Aswaq


Aswaq.com is the eCommerce site for the New Markets Store Trading Company.

The first 100% Saudi owned eCommerce site at a level competing directly with the top international eCommerce companies. We operate as a full Retail business in order to assure the Authenticity and High Quality of our products that we source through all legitimate local manufacturers and official distributors in the Kingdom and covered by their local warranties.

We offer very Competitive Prices, Genuine Products, Local Distributor Warranty, Fast Deliveries to all regions in Saudi Arabia, Easy Payment Choices, Free Return or Exchange.

The whole project was locally developed and managed by the Saudi Almanarah Comm & IT Co. Ltd.

The New Markets Store Company - Aswaq.com A Leading Saudi Company





https://www.aswaq.com/en/aboutus/
Claud,

Do you really think the CBI has indicated that this is the company they are talking about?

They sell watches and sunglasses. Did you see that on their home page?
RamblerNash
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Opinion on the subject of dinars !! Empty Re: Opinion on the subject of dinars !!

Post by RamblerNash on Sat Sep 12, 2020 9:38 pm

@claud39 wrote:Summary of CBI policy tools
 ************************************


 The Board of Directors of the Central Bank of Iraq approved at the sixth meeting
On the twenty of August, new regulations for the legal reserve requirements and banking facilities
Attached herewith, this statement reviews the general features of the new regulations and explains the reasons for their adoption
For the purpose of strengthening the monetary policy management of the Central Bank of Iraq and in supporting the new program that
The Ministry of Finance adopted it in issuing securities.

The Central Bank of Iraq will issue initial instructions to implement the terms of the new regulations,
Changes were made to the regulations of the Central Bank of Iraq and its banking operations to give it control
Better on the money supply and at the same time it gives high confidence to the banks in terms of options
And the conditions for managing the liquidity of their banks, and it is expected that the stock markets will play
The government has an important positive role in managing bank liquidity in accordance with the new regulations and on the other hand
Banks are expected to strengthen their financial position to manage their short-term liquidity requirements
The term (or what is more generally called the market), when banks finally resort to the bank
Central as a last resort.

In order to clarify this, the Central Bank of Iraq will hold several meetings with banks in
The near future to discuss the proposed regulations.


The Ministry of Finance made a change in the method of financing the deficit in its revenues due to the restrictions
The new legal framework imposed upon it when borrowing from the Central Bank of Iraq due to its desire to
Conducting the development of an active market for government securities, according to the requirements of the Public Debt Law
Newly approved, all debt services will be paid in cash, which is why the government securities valuations were paid
With its interest, which are due on the first of July and October for their holders, as for the papers
Government finances owned by the Central Bank of Iraq will be treated according to an agreement concluded between the Ministry of Finance
And the Central Bank of Iraq to restructure the claims of the Central Bank of Iraq against the government,
The Ministry of Finance has already started issuing new securities to finance those owed by it, and they may be sold
New securities after being released on the secondary market.

The Central Bank of Iraq reformulated its banking relationship with banks to develop a market
It depends on new monetary policy tools for the purpose of facilitating the development of the new stock market
For the Ministry of Finance, there is no requirement for now from the banks to acquire equivalent securities
10% of total deposits (now included in the list of reserve requirements).


The Central Bank of Iraq will not deal in the future in the sale or purchase of securities as desired
In addition, the banks closed the exposure facilities and advances granted by the bank
The Central Bank of Iraq replaced it with new existing facilities for lending and deposits, which it approved
Recently, the bank’s board of directors, and the regulation of statutory reserve requirements, will come into effect in one month
November The Central Bank of Iraq may buy or sell securities for a ministry by a decision
Finance at banks according to a competitive principle for the needs and purposes of monetary policy (to be launched
All these instrument-related changes are detailed below
The new monetary policy: -

Monetary Policy Tools:

The formulation prepared by the Central Bank of Iraq for monetary policy tools serves to strengthen
The ability of banks to manage short-term liquidity, which is directed by the Central Bank of Iraq
The required monetary policy (which can be evaluated according to various intermediate variables, including
The yield curve, the exchange rate, and the amount of growth in the money supply) in terms of capacity
Liquidity management, the monetary policy tools adopted by the central bank must work with ASWAQ
Cash and other securities to create an effective payment system that gives banks confidence in meeting obligations
Pay it and have reasonable costs.

To be sure, the most costly to provide liquidity is by using additional reserves (such as cash in
Safes and balances with the Central Bank of Iraq in excess of the reserve requirements
Legal) as well as the margins of intervention (the difference between interest rates on deposits and on loans)
They can be reduced by allowing the banks to reduce their holdings of the returns arising from excess reserves
They do not bear interest and the ability of banks to reduce their excess reserves depends on finding intermediaries
Reliable liquidity management.

The Central Bank of Iraq has taken effective and influential tools on the liquidity market (basic cash), which are: -

1 - Foreign currency auctions in which the Central Bank of Iraq buys or sells dollars from
Or to the market in light of its political goals.

2- A list of statutory reserve requirements on which banks rely for possession
Customer deposits, i.e. with differential levels of deposits with the Central Bank of Iraq, cash
In the treasuries and securities of the Ministry of Finance.

3- Exposure facilities for banks that have reserve account balances in the bank
The Iraqi Central Bank, but it is not sufficient to settle its obligations at the end of the working day
Banker


4- The discount window for bills of exchange or similar bank notes with lesser terms
From 90 days and endorsed by at least two signatures (currently imposed at 11% for papers
First Class Finance).

5- Lender of last resort facilities, which are given to troubled banks
Chronic liquidity in exchange for a guarantee offered by it.

6- The Ministry of Finance's securities window and buy or sell such banks under it
Government papers at face value (i.e. at the interest rate upon issuance)
The aforementioned tools are insufficient to develop an effective market that directs the financial sector, in particular
Not suitable for developing a market with sufficient liquidity for government securities or for management
A market built on the basis of monetary policy, and we believe that foreign currency auctions are in place
Recently, they are working well and satisfactorily while other tools have been reformulated, as well
The legal reserve requirements do not provide banks with useful liquidity management tools and may confuse
In achieving the monetary goal as it subscribes to the requirements of government securities
Don't be a part of it.

The diversity of lending facilities is not very transparent and does not always serve its goals
Policy, and the Ministry of Finance's securities window provides sufficient liquidity, but with restrictive conditions
The development of secondary dealing and an interbank market.

 Moreover, the securities window
The Ministry of Finance suspended the role of the Central Bank of Iraq in monitoring one of the most important management tools
On cash, as they allowed banks to deal with the Central Bank of Iraq, to ​​buy or sell
Securities for the Ministry of Finance as granted articles 28, 29 and 30 of the Central Bank Law
The Iraqi has the authority to manage open market operations and to provide existing facilities to the banks
He laid the foundations for legal reserve requirements, and the authority granted him, in exceptional circumstances, that
The lender would be the last resort, as the aforementioned articles prepared the foundations for creating policy instruments
His speech, which will be approved by the Central Bank of Iraq in this field.

It is noted that the purpose of preparing the new statutory reserve requirements and facilities regulations
Banking is to facilitate the more effective liquidity management of banks in the market and encourage banks
To deal with each other more broadly, rather than dealing exclusively with the central bank
Al-Iraqi exclusively for liquidity management.

Below we list the main causes and features of each new tool: -

Legal Reserve Requirements:

In fact, the legal reserve requirements of the Central Bank of Iraq, and confirmed in
12/12/2003 are three separate requirements in unified instructions.

 It is required that the banks:

Freeze deposits are deposited with the Central Bank of Iraq, which is currently at 20% of liabilities
Deposits and / or current deposits for the previous month, at a rate of 5% of liabilities for savings deposits, and at a rate of 2%
Of fixed and / or temporary deposit obligations, in addition to that, the instructions include two basic requirements
Separate holders of securities of the Ministry of Finance and at least 10% of total liabilities
Bank deposits with a percentage of not less than 10% of the total deposit obligations. 

The request for withdrawal shall be considered
Reserve balances are not compensable, and statutory reserve requirements are declared by instructions
Before the Board of Directors of the Central Bank of Iraq and went to the General Directorate of Statistics and Research and to
The General Directorate of Credit and Banking Supervision. The banks report prepared in accordance with the instructions shall be sent
To the General Directorate of Accounts.

The statutory reserve requirements do not reflect best practices and accordingly, the Central Bank of Iraq
Establishing new requirements for the purpose of providing for the monetary policy needs of the market economy, and wherever they exist
Legal reserve requirements are generally seen as a monetary policy tool rather than a control tool
Accordingly, the responsibility for monitoring each bank is subject to the new requirements that have been implemented
Transferring it from the General Directorate of Credit Control and Banking to the General Directorate of Agreements
And loans, which in turn will bear the primary responsibility for embedding monetary policy as preferred
Preparing unified requirements for monetary policy purposes (i.e. the same for all reserve deposits).


The ratio of the new requirements shall be applied to all deposit liabilities with respect to the concept of cash
The cash multiplier (the ratio of the quantity of cash in relation to the base cash) is more stable and more dependent on it,
In addition, it has a neutral effect on the public’s choice of deposit maturities, which in reality are
It is preferred from a tax policy point of view as foreign currency deposits are also included

The deposit is the basis for the legal reserve requirements, so foreign currency deposits cannot be preferred
And then (the dollarization process) (that is, the dominance of the dollar currency over the Iraqi dinar) and that is why
Requirements for deposits of dinars or foreign currency must be in dinar currency.


The instructions imposed various requirements on banks' deposits with the Central Bank of Iraq
And on cash in the treasury, in fact, the new requirements have been standardized to be requirements
Identical meeting the cash obligations of each bank that maintains deposits in its current account or cash in the treasury
At the Central Bank of Iraq.


The initial return that banks achieve for the new requirements results from the possibility of the
Requirements are on an average basis rather than on a permanent basis.

The requirements will continue to be fixed for monthly periods, but the frozen current deposits are transferred to
A single clearing account for each bank, and the balances kept in its accounts are based on the rate
The average to meet the requirements can be deposited in Iraqi dinars with the Central Bank of Iraq
(And not in the existing deposit facilities) in addition to the new Iraqi cash in bank vaults
The bank may use its deposit or all of its deposits with the Central Bank of Iraq on any day as long as
The statutory reserve rate at the end of the working day (plus the average rate of the Iraqi dinar
The amount in the treasury cash) is equal to or more than the required amount.

The Board of Directors of the Central Bank of Iraq set the reserve ratio at 25% due to requirements
The new legal reserve allowed the banks to use the Iraqi dinar cash in the treasury for repayment
With the requirements, as it will grow with the increase in the assets of the statutory reserve and for the purpose of determining the effect of this
The change in the bank's liquidity (without raising the rate of requirements more than usual) was stipulated
The board of directors shall deposit (20% of the deposits) of the bank with the Central Bank of Iraq
(5% of it) is cash in the bank's vaults.

The average monthly rate for a period can turn statutory reserve requirements into a useful tool
For the purpose of absorbing the wide fluctuations of the liquidity of the bank and according to the daily situations and work stops
At 10% of the statutory reserve requirements for government securities, as a requirement
Separate for cash in the safe.


Existing Facilities:

When financial markets and more broadly, financial systems are underdeveloped, so do banks
Central to rely on existing facilities more than open market operations and in this respect
In particular, existing facilities as a safety valve for response may lead to unfair liquidity developments
Expected or to the various obstacles or inefficiencies that hinder an orderly redistribution of reserves
Via the interbank market. This safety valve function is also necessary, when
Understating the liquidity forecast, the new CBI law allows the bank to save money
Loans and deposit facilities These facilities and the lender of last resort will replace the facilities
Exposure and advances that were used, and the new law does not allow the exposure of deposit balances
Banks at the Central Bank of Iraq.


The purpose of the deposit facilities and the existing facilities is to give security to banks to manage a surplus
Its liquidity is within a moderate rate of interest rates, which broadens the policy objectives of the bank
Central Iraqi Central Bank related to short-term interest rates and in the absence of developed markets
For securities and interbank cash, in which the central bank's open market operations are managed
The Iraqi is expressing his view on the appropriate short-term interest rates
For monetary policy by finding the bank rate ("rate policy)" as an indicative rate
The existing and deposit facilities carry interest rates related to the bank rate and also provide the rates for example

This type of facility is an interest rate that fluctuates between depositing and receiving cash from the bank.
The Iraqi Central Bank for a specified maturity period (overnight investment) as this margin is necessary
To encourage banks to develop a market and easily manage liquidity between them without being present
Necessarily, a permanent deal with the Central Bank of Iraq and as soon as the interbank market develops
Remarkably, the objective of the Central Bank of Iraq in open market operations is to maintain the same
Short-term interest rates between banks are included in the price outlay of two types
Existing facilities.

The rates charged on existing deposit and lending facilities are floating at a level higher or lower than that
The prevailing prices in the money market, and until the development of dealing in the securities of the Ministry of Finance in
The money market and the secondary market between banks. Prices for these two types of facilities will be set
They have a relationship to the policy rate of the central bank, and the central bank must carefully monitor the price
In light of the monetary policy objectives, noting that the bank’s board of directors had set the bank’s rate at 6%.

Existing lending facilities

The existing pre-credit facility provides overnight credit to banks in exchange for a suitable collateral
The desire of banks to borrow as banks will be allowed to borrow in the overnight investment to the maximum amount
Possible in relation to the bank's capital (as long as the bank offers adequate collateral) and at an interest rate
Initial credit day. 

The interest rate will be set at a higher rate than the Central Bank of Iraq rate
The Board of Directors of the Central Bank set the initial credit rate at the bank’s rate plus 2%, ie
It becomes 8% and decreases in the future, when the initial interest rate expands and increases prudence
In the nature of the incidental and temporary facilities, a greater increase will be imposed when using the facilities
For a period exceeding 15 days for each month under the secondary credit facilities, it may be used
The primary credit bank is for a period of 15 days per month and can be used for additional days per month
The concerned person, subject to the prior approval of the Central Bank of Iraq, and in other cases, the bank may be used


Initial credit up to 20% of the bank’s capital, or it may be used in excess of the amount
Also specified subject to the prior approval of the Central Bank.

Secondary credit facilities have the same qualification scale as primary credit facilities, but it is possible
To be extended for longer periods and at a higher interest rate, and granted based on a decision by the Central Bank.

 To begin
A margin of (1) percent will be imposed over the initial credit price, to become 9%, and it is not beneficial
Banks may borrow additional money under these conditions and in circumstances in which they do not suffer from
Temporary banking crises as the Central Bank of Iraq has to settle and be covered
Lending to banks suffering from acute crises with last resort facilities, which will be discussed later
As part of the audit procedures imposed by the General Directorate of Supervision on
Banks and guarantee all the advances of the Central Bank of Iraq under these facilities with guarantees
Accepted by the Central Bank of Iraq, and it shall publish a list of acceptable guarantees for each type of
The facilities may be revised at any time. In principle, the matter relates to credit facilities
First, the Central Bank of Iraq must accept securities issued by the Ministry of Finance
Those with maturities of less than 180 days, as banks have to pledge their securities
In the securities deposit account of the Ministry of Finance by directing the Central Bank of Iraq
To indicate the required amount, which is a pledge in the guarantees account of the Central Bank of Iraq.


LLR facility

The Central Bank of Iraq law also allows lending to banks suffering from financial crises in Iraq
Under exceptional circumstances, as an example, a bank may declare bankruptcy as a result of malicious rumors or
The Central Bank of Iraq might grant a loan to a bank with insufficient solvency, but it continues to struggle
If there is a chronic shortage of liquidity, and for this purpose the bank will be in the two mentioned examples at pain
Intensive audit and it is expected that the audit procedures will continue in order to control the obstacles that suffer
Of them, and in general, what appears at first glance about the cause of the liquidity crisis lies in the inability to
Paying all debts at the same time.

In fact, many countries are making great efforts to support banks that suffer from deficiency
The ability to pay off debts by granting it loans to support its liquidity and through its public treasury
The Central Bank of Iraq does not have the condition that a bank lend to something that suffers from inability to repay
Debts, as the Central Bank of Iraq law specifically defined the conditions for exceptional loans
Article 30 of it and no such loans are granted unless the following conditions are met:

A- If the bank, according to the opinion of the Central Bank of Iraq, is able to pay it
To repay the debts and he had provided an adequate guarantee when borrowing and that his request from the bank

The Iraqi Central Bank is for its financial assistance and is based on the need to improve liquidity
Has or,

B - that such a request for assistance is necessary for the purpose of maintaining the stability of the financial system
The Minister of Finance shall issue a guarantee to the Central Bank of Iraq, written on behalf of
The government of Iraq pledges to repay the loan amount.

A last resort lender facility can raise the secured loan amount for periods
Longer and the central bank can accept collateral in conventional formats (taking care of their evaluation),
The interest rate charged on the lender of last resort facility will be the bank's rate
(Indicative price) that is determined by the Central Bank of Iraq, plus a percentage
 . 5.9%, to become 5.3%

Facilities on deposits

 The Central Bank of Iraq will create an existing deposit facility in which deposits can be accepted
For overnight investment from banks with excess balances.

The central bank cannot place deposits in the facility account unless the bank requests it to do so
Explicitly, the interest rate on such deposits is set at a lower rate than the bank rate specified by the bank
The Central Bank of Iraq will, in principle, set a rate of 2% less than the bank rate. 

This is The facilities will create a solid base for interest rates with very short terms and will help the bank to obtain
Finding stability to some extent when it predicts future interest rates, and until the development of the stock market
Government finance, where the central bank can efficiently manage the open market operations, the facilitation
Deposits can automatically withdraw excess liquidity from the banking sector.


Bank rate

The monetary policy of the Central Bank of Iraq expresses itself regarding the stated interest rates in the market
Cash is for short term periods. Currently, this market is underdeveloped and therefore cannot be relied upon for
Giving a picture of the policy of the Central Bank of Iraq, until the market or secondary market develops
In the area of ​​securities of the Ministry of Finance with short term maturities, the bank will focus
The Central Bank aims to determine the prevailing interest rates among banks for overnight investment by setting a rate
Indicative interest. 

This rate is called the bank rate. Banks are free to set interest rates
In dealing with one another in the market according to any interest rate agreed upon between them. The bank rate is
The indicative price at which the prices are determined in the primary and secondary market and for last resort loans


As well as overnight investment deposit rates. Therefore, the rate considered by the Central Bank of Iraq
Suitable to maintain price stability, and that its monetary policy will try hard to achieve stability
(That is by maintaining bank liquidity at levels in line with the bank's rate).

Open market operations

The central bank can influence bank liquidity (excessive reserves) and then influence
Short-term interest rates by buying and selling government securities. The process of selling
Securities in the market and from the assets of the Central Bank of Iraq will lead to the withdrawal of liquidity
From the banking system (i.e. by reducing bank balances in their reserve accounts with the bank
In contrast, the Central Bank of Iraq purchases from the market will increase from
Liquidity with the bank (that is, from its reserve account balances) such operations are for the market
The open will create an important secondary tool and provide effective liquidity management (in conjunction with currency auctions
Foreign).

Also, different strategies can be followed in open market operations, for example and for a purpose
Achieving long-term monetary growth, the Central Bank of Iraq may choose one of these strategies, adopting it
On the accumulation of foreign currency reserves, and the growth of the monetary impact of foreign currency reserves results
Whether in high or low prices, through the process of direct intervention for the purpose of imposing
Stability of the foreign currency exchange rate, which may impede the open market process,
Otherwise, such operations may be determined in order to create a state of stability in my liquidity
Banks and to maintain the market for short-term interest rates within the expense of facilitation rates
And deposits to the Central Bank of Iraq.

The open market operations depend on the basis of auction with banks, and such auctions are somewhat similar
What is with the foreign currency auctions, which are currently managed by the Central Bank of Iraq, and the bank will take
The Central Bank of Iraq should be taken into account, especially when government stock market operations develop
Purchase or buyback contracts as an effective tool in open market operations.



Khawla /




https://cbi.iq/static/uploads/up/file-153077893228064.pdf
Claud,

This article is talking about the banks -->within<-- Iraq.

It would be similar to the Bank of Canada and the laws/rules for banks to operate -->within<-- Canada.

That's not exactly what you are referring to in your original post, and has very little to do with the exchange rate or what you are calling "international".

If you were to read it again, would you come up with the same conclusion?
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Opinion on the subject of dinars !! Empty Re: Opinion on the subject of dinars !!

Post by RamblerNash on Sat Sep 12, 2020 9:44 pm

@claud39 wrote:It's great fun to have your comment on the subject, and I'll give you a big reason for what you're telling me !!

But we do not see it in the same way, here is my opinion on your questions, and above all I do not want to be right on the subject, but to give an opinion so that the forum world understands what is happening !! !


(The return -> Iraq <- to the international market. It is not the same as returning a currency and takes on a different meaning. Most of the articles you publish are about the return of Iraq, not the currency. .)

Quite right about it !!!

(The return -> Iraq <- to the international market. It is not the same as returning a currency and takes on a different meaning.)

This is RamblerNash what I wanted to say about your questioning, for me when I apply for the news of the day is to see the reality of the country, and not to rely on the gurus, so when I see the articles that the international alliance is pushing behind Iraq to return to the international market, and that France and the United States sign a big contract, and that French President Emmanuel Macron says that Iraq must return to the international scene !!

So for me, and you are right that I publish news of the return of Iraq, and not about the currency !!

I mention this I am not an economist, but when I read the news on CBI I notice that they are not in the open market (ie internationally) they are in the secondary market right now, if I understand good !!!

He is going to have a meeting with the WTO soon, it should have been done last fall, but it had been postponed, so for me if they are going to discuss between them, it is not to talk about the good weather, but to speak well of foreign trade, then the government must decide to put, and the CBI also a value on the international one !!

I am going to share with you an Arabic translation of the central bank that I was reading during my research !!!!




Claud (Moose)

@RamblerNash wrote:As far as the Dinar currency rate, I know you are aware on what the IMF, UN, and WTO post as the rate, but have you asked yourself why the one posted by the CBI is so different?


@RamblerNash wrote:Well...My question was why does the IMF have one rate, but the CBI has another? Maybe that translates better?


One more time, but asked differently.

What is the current exchange rate posted at the IMF?
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Opinion on the subject of dinars !! Empty Re: Opinion on the subject of dinars !!

Post by claud39 on Sun Sep 13, 2020 1:43 pm

Just so that we understand each other well RamblerNash !!

Is that what you're asking me to go see ???

If this is what you mention to me I agree with you, no value, but let's not forget that they are on the secondary market, and not at the level of international trade !!

Okay with you, but let them mark on their central bank documentary which tells us this !!!

 The deposit is the basis for the legal reserve requirements, so foreign currency deposits cannot be preferred
And then (the dollarization process) (that is, the dominance of the dollar currency over the Iraqi dinar) and that is why
Requirements for deposits of dinars or foreign currency must be in dinar currency.

To do this, and for the United States to trade with Iraq, it has to go international, so it has to have a value to trade with the United States, like before 2003, but it's not worth it. say they are going to have the same rate as 2003, but they could according to me, and that is only my personal opinion !!!
It would not surprise me that they start with 1 dinars = 1 American dollar, everyone who is in a hurry will jump in front of their eyes to close !!!

I believe and this is still my personal opinion, that they will start quietly and then resume their old value !!

Why I say this is that the former first Al-Abadi had mentioned in an interview with a journalist, and this news I had on the other forum where I applied before coming to this site, but unable to find this news, since I can't go to this site now !!!

Another example, the director of the central bank also mentioned that the plan to suppress still existed, but he was waiting for the right circumstances to move !!

The project to abolish the 3 zeros should have been done for 2014, but you know the reasons that this was delayed, namely the Islamic State when they attacked Iraq, and especially the city of Mosul at that time !!

I notice from my side, and I mention it once again that it is my personal opinion, that it is the best time to come back to the international level to start now the reconstruction of Iraq, I have always said it (When the construction, goes, everything goes).

It is with reconstruction, and with the private sector that will help their return to the international market, and revive the country, not with oil, but with petroleum derivatives, and as another example, be the construction of the faw port, this will give an opening to the middle east through Iraq !!

Especially to join the Silk Road, it will still help them to get Iraq back on its feet !!

A lot of advantage for them on their return to the international scene, and you know that they are going to have a meeting with the WTO soon, they are going to be delayed by a year, they will meet before the end of this year , they must have a good reason my friend !!!

Good day to all forum members !!


Claud (Moose)


IQD - Iraqi Dinar


Iraq, Dinar


The Iraqi Dinar is the currency of Iraq. Our currency rankings show that the most popular Iraq Dinar exchange rate is the USD to IQD rate . The currency code for Dinars is IQD, and the currency symbol is د.ع. Below, you'll find Iraqi Dinar rates and a currency converter. You can also sign up for our currency newsletters to receive daily rate and analysis, read the XE Currency Blog or view IQD rates anytime through our XE Currency Apps and website.

Notice: IQD may be redenominated.





Most Popular IQD Cross Courses




USD SAR EUR MYR GBP INR CAD AED TRY/
[size=30]
35
[/size]
IQD0.000840.003150.000710.003490.000660.061720.001110.003090.00628
Reverse:1190.19317,3851410.00286,5711522.9316.2031903,583324,082159,261
2020-09-13 16:49 UTC
All 





figures are live average market rates , which are not available to consumers and are provided for informational purposes only. To see an estimate of our money transfer rates, please use our money transfer service.


Click on a rate to see its graph.


Currency facts

IQD Statistics
Name: Iraqi Dinar
Symbol: د.ع
Minor unit:
1/1000 = son
Most popular IQD conversion:
USD / IQD
Most popular IQD Chart :
USD / IQD Chart
IQD Profile
Inflation: 0.10%
Parts:
Frequently used: د.ع 25, د.ع 50, د.ع 100
Banknotes:
Frequently used: د.ع 50, د.ع 100, د.ع 250, د.ع 500, د.ع 1000, د.ع 5000, د.ع 10000, د.ع 25000

Central Bank : Central Bank of Iraq
Website: http://www.cbi.iq/
Users: Iraq
Have more info about the Iraqi Dinar?


[email=currencyinfo@xe.com?subject=Currency%20Encyclopedia%20-%20New%20Facts&body=Currency%20Facts%0A%0AI%20would%20like%20to%20contribute%20to%20the%20XE%20Currency%20Encyclopedia.%0AI%20am%20providing%20the%20currency%20facts%20below%20and%20understand%20that%20XE%20will%20publish%20them%20when%20the%20sources%20I%20provide%20have%20been%20confirmed.%0A%0ACurrency%20Code:%20IQD%0ACurrency%20Name:%20Dinar%20irakien%0AExtra%20facts:%0A%0A%0ABy%20sending%20this%20email,%20I%20agree%20to%20comply%20with%20the%20XE%20Terms%20of%20Use.%0A%0Ahttps://www.xe.com/legal/]Contact us by e-mail  [/email]



Amount
Of

Opinion on the subject of dinars !! Usd.static.32a753a23262e7a5de13e84d52ad2e49



USD United States dollar



AT
Opinion on the subject of dinars !! Iqd.static.e047760ff95cc018531946d149236cf2
IQDIraqi dinar





1 USD = 1190.19  IQD

1 IQD = 0.000840200 USD
1 USD = 1,190.19 IQD


Converting Dollar US in Iraqi Dinar

Last update : 2020-09-13 16:45 UTC
Read important information about the IQD .

All figures are live [size=18]average market[size] rates , which are not available to consumers and are provided for informational purposes only.



[/size][/size]
[size][size]















[size=34]The Iraqi Chargé d'Affairs to Geneva meets with the head of the working group on Iraq's accession to the World Trade Organization / WTO[/size]




03/09/2020





Opinion on the subject of dinars !! WhatsApp-Image-2020-08-31-at-10.28.25-AM











The Chargé d'Affairs and Plenipotentiary Minister Dr. Abbas Kazem Obeid met in Geneva the head of the working group on Iraq's accession to the World Trade Organization, Ambassador Omar Hilal / Permanent Representative of the Kingdom of Morocco to the United Nations in New York, in the presence of the Director of the Accession Department at the World Trade Organization, Mrs. Maika Oshikawa and her assistance in The headquarters of the organization, and the two sides exchanged talks about ways to activate the file of Iraq's accession to the organization and the importance of continuing work in completing the technical documents to complete the requirements for joining and overcome the obstacles and challenges facing the accession process. 


In this regard; It was agreed to prepare training programs for members of the national negotiating team, as well as to discuss the importance of setting a new date for the high-level conference on Iraq's accession to the World Trade Organization, which was supposed to be held in Baghdad for the period 26-27 / 11/2019.





https://www.mofa.gov.iq/2020/09/?p=16874










Claud (Moose)

[/size][/size]
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Opinion on the subject of dinars !! Empty Re: Opinion on the subject of dinars !!

Post by claud39 on Sun Sep 13, 2020 2:43 pm


US dollarUSD1190,000
EuroEUR1410.031
Pound sterlingGBP1549.499
Canadian dollarCAD904.118
Swiss francS.FR1309.275
Swedish kronaSEK135.991
Norwegian kroneNOK131.939
Danish kroneDKK189.512
Japanese yenJPY11.205
Chinese YuanCNY173.938
Australian dollarAUD866,320
Special drawing rightsSDR1681.732
Gold for 24-ounceGold2324 107.500

 to me                              US dollar                             Euro                             Pound sterling                             Canadian dollar                             Swiss franc                             Swedish krona                             Norwegian krone                             Danish krone                             Japanese yen                             Chinese Yuan                             Australian dollar                              Special drawing rights                              Gold for 24-ounce                              



CBI: Project deletion of zeros from the currency still exists


Wednesday 30 January 2019




CBI: Project deletion of zeros from the currency still exists


The Central Bank of Iraq that the project to delete zeros from the Iraqi currency is still standing. 

The director of the issuance and cabinets Abdul Karim Hassan Shannon that the project to delete the zeros was supposed to start in 2014, but security events and the control of the state regulation on five provinces led to delay, pointing out that the project is to delete three zeros from the current currency with the introduction of large currencies and currencies Metal. 
Shannon confirmed that the current cash volume in the markets is large at 44 trillion dinars.

















[size=39]Iraqi Dinar revaluation postponed by Central Bank for 5 years says MP Noura al-Bajari[/size]





Oct 29, 2014, 11:54 pm







Opinion on the subject of dinars !! %D8%A7%D9%84%D9%86%D8%A7%D8%A6%D8%A8-%D8%B9%D9%86-%D8%A7%D9%84%D9%82%D8%A7%D8%A6%D9%85%D8%A9-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A%D8%A9-%D9%86%D9%88%D8%B1%D9%87-%D8%A7%D9%84%D8%A8%D8%AC%D8%A7%D8%B1%D9%8A









Baghdad (IraqiNews.com) A member of the Parliamentary Economic and Investment Commission, MP Noura al-Bajari, confirmed on Wednesday that the initiative to revalue and delete zeros from the Iraqi Dinar is ready for implementation by the Central Bank although it will be delayed by five years given the political and security situation of Iraq.

In an interview with IraqiNews.com al-Bajari said “The policy to delete zeros from the Iraqi currency is ready to be executed by the Central Bank, however, its implementation will be delayed by 5 years on the basis of the extreme security and political situation of the country.”

Al-Bajari said that the head of the Central Bank of Iraq had previously said that this policy from parliament was accepted and that the zeros will be deleted from the Iraqi currency in the next 5 years.

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Opinion on the subject of dinars !! Empty Iraqi dinar to have 3 zeros canceled by the Central Bank of Iraq according to Finance Commissioner

Post by claud39 on Sun Sep 13, 2020 2:48 pm

[size=39]Iraqi dinar to have 3 zeros canceled by the Central Bank of Iraq according to Finance Commissioner[/size]




Apr 13, 2013,





Opinion on the subject of dinars !! Iraq-Finance-Committee-MP-Abdul-Hussein-al-Yasiri










The Iraqi dinar will have 3 zeros canceled by the Central Bank of Iraq according to Finance 

 MP Abdul Hussein al-Yassiri.

MP al-Yassiri told Iraqi News that “it is supposed that this year will witness necessary preparations to cancel three zeros from the currency”.

He added that his commission supports such move for its importance to the Iraqi economy.

The Central Bank of Iraq, earlier, announced that cancelling the zeros is within a plan to develop monetary policies in the country.

One of the difficulties facing is Iraq is withdrawing 30 trillion Iraqi dinars from Iraq’s market at the present time and to replacing it with new currency.

Earlier, the ministry of finance ruled out the idea of cancelling the zeros in 2013 because the federal budget was based on the current currency.



https://www.iraqinews.com/business-iraqi-dinar/iraqi-dinar-3-zeros-canceled-by-central-bank-of-iraq-cbi/
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Opinion on the subject of dinars !! Empty Re: Opinion on the subject of dinars !!

Post by claud39 on Sun Sep 13, 2020 3:08 pm

@claud39 wrote:[size=39]Iraqi dinar to have 3 zeros canceled by the Central Bank of Iraq according to Finance Commissioner[/size]




Apr 13, 2013,





Opinion on the subject of dinars !! Iraq-Finance-Committee-MP-Abdul-Hussein-al-Yasiri










The Iraqi dinar will have 3 zeros canceled by the Central Bank of Iraq according to Finance 

 MP Abdul Hussein al-Yassiri.

MP al-Yassiri told Iraqi News that “it is supposed that this year will witness necessary preparations to cancel three zeros from the currency”.

He added that his commission supports such move for its importance to the Iraqi economy.

The Central Bank of Iraq, earlier, announced that cancelling the zeros is within a plan to develop monetary policies in the country.

One of the difficulties facing is Iraq is withdrawing 30 trillion Iraqi dinars from Iraq’s market at the present time and to replacing it with new currency.

Earlier, the ministry of finance ruled out the idea of cancelling the zeros in 2013 because the federal budget was based on the current currency.



https://www.iraqinews.com/business-iraqi-dinar/iraqi-dinar-3-zeros-canceled-by-central-bank-of-iraq-cbi/




He added that his commission supports such move for its importance to the Iraqi economy.

The Central Bank of Iraq, earlier, announced that cancelling the zeros is within a plan to develop monetary policies in the country.




Does this article talk about CBI monetary policy According to you RamblerNash !!

I come back to this, the project exists, and reconstruction will help their return to the international market, by exchanging currencies between them for reconstruction.

So in my opinion !! for all countries to participate in the reconstruction there must be a value of the dinar vis-à-vis the US dollar, and also the Canadian dollar, as for China ... so on!

Have a good day, I will come back later to share the news of the day !!



Claud (Moose)


The deposit is the basis for the legal reserve requirements, so foreign currency deposits cannot be preferred
And then (the dollarization process) (that is, the dominance of the dollar currency over the Iraqi dinar) and that is why
Requirements for deposits of dinars or foreign currency must be in dinar currency.




The open market operations depend on the basis of auction with banks, and such auctions are somewhat similar
What is with the foreign currency auctions, which are currently managed by the Central Bank of Iraq, and the bank will take
The Central Bank of Iraq should be taken into account, especially when government stock market operations develop
Purchase or buyback contracts as an effective tool in open market operations.





Summary of CBI policy tools
 ************************************


 The Board of Directors of the Central Bank of Iraq approved at the sixth meeting
On the twenty of August, new regulations for the legal reserve requirements and banking facilities
Attached herewith, this statement reviews the general features of the new regulations and explains the reasons for their adoption
For the purpose of strengthening the monetary policy management of the Central Bank of Iraq and in supporting the new program that
The Ministry of Finance adopted it in issuing securities.

The Central Bank of Iraq will issue initial instructions to implement the terms of the new regulations,
Changes were made to the regulations of the Central Bank of Iraq and its banking operations to give it control
Better on the money supply and at the same time it gives high confidence to the banks in terms of options
And the conditions for managing the liquidity of their banks, and it is expected that the stock markets will play
The government has an important positive role in managing bank liquidity in accordance with the new regulations and on the other hand
Banks are expected to strengthen their financial position to manage their short-term liquidity requirements
The term (or what is more generally called the market), when banks finally resort to the bank
Central as a last resort.

In order to clarify this, the Central Bank of Iraq will hold several meetings with banks in
The near future to discuss the proposed regulations.


The Ministry of Finance made a change in the method of financing the deficit in its revenues due to the restrictions
The new legal framework imposed upon it when borrowing from the Central Bank of Iraq due to its desire to
Conducting the development of an active market for government securities, according to the requirements of the Public Debt Law
Newly approved, all debt services will be paid in cash, which is why the government securities valuations were paid
With its interest, which are due on the first of July and October for their holders, as for the papers
Government finances owned by the Central Bank of Iraq will be treated according to an agreement concluded between the Ministry of Finance
And the Central Bank of Iraq to restructure the claims of the Central Bank of Iraq against the government,
The Ministry of Finance has already started issuing new securities to finance those owed by it, and they may be sold
New securities after being released on the secondary market.

The Central Bank of Iraq reformulated its banking relationship with banks to develop a market
It depends on new monetary policy tools for the purpose of facilitating the development of the new stock market
For the Ministry of Finance, there is no requirement for now from the banks to acquire equivalent securities
10% of total deposits (now included in the list of reserve requirements).


The Central Bank of Iraq will not deal in the future in the sale or purchase of securities as desired
In addition, the banks closed the exposure facilities and advances granted by the bank
The Central Bank of Iraq replaced it with new existing facilities for lending and deposits, which it approved
Recently, the bank’s board of directors, and the regulation of statutory reserve requirements, will come into effect in one month
November The Central Bank of Iraq may buy or sell securities for a ministry by a decision
Finance at banks according to a competitive principle for the needs and purposes of monetary policy (to be launched
All these instrument-related changes are detailed below
The new monetary policy: -

Monetary Policy Tools:

The formulation prepared by the Central Bank of Iraq for monetary policy tools serves to strengthen
The ability of banks to manage short-term liquidity, which is directed by the Central Bank of Iraq
The required monetary policy (which can be evaluated according to various intermediate variables, including
The yield curve, the exchange rate, and the amount of growth in the money supply) in terms of capacity
Liquidity management, the monetary policy tools adopted by the central bank must work with ASWAQ
Cash and other securities to create an effective payment system that gives banks confidence in meeting obligations
Pay it and have reasonable costs.

To be sure, the most costly to provide liquidity is by using additional reserves (such as cash in
Safes and balances with the Central Bank of Iraq in excess of the reserve requirements
Legal) as well as the margins of intervention (the difference between interest rates on deposits and on loans)
They can be reduced by allowing the banks to reduce their holdings of the returns arising from excess reserves
They do not bear interest and the ability of banks to reduce their excess reserves depends on finding intermediaries
Reliable liquidity management.

The Central Bank of Iraq has taken effective and influential tools on the liquidity market (basic cash), which are: -

1 - Foreign currency auctions in which the Central Bank of Iraq buys or sells dollars from
Or to the market in light of its political goals.

2- A list of statutory reserve requirements on which banks rely for possession
Customer deposits, i.e. with differential levels of deposits with the Central Bank of Iraq, cash
In the treasuries and securities of the Ministry of Finance.

3- Exposure facilities for banks that have reserve account balances in the bank
The Iraqi Central Bank, but it is not sufficient to settle its obligations at the end of the working day
Banker


4- The discount window for bills of exchange or similar bank notes with lesser terms
From 90 days and endorsed by at least two signatures (currently imposed at 11% for papers
First Class Finance).

5- Lender of last resort facilities, which are given to troubled banks
Chronic liquidity in exchange for a guarantee offered by it.

6- The Ministry of Finance's securities window and buy or sell such banks under it
Government papers at face value (i.e. at the interest rate upon issuance)
The aforementioned tools are insufficient to develop an effective market that directs the financial sector, in particular
Not suitable for developing a market with sufficient liquidity for government securities or for management
A market built on the basis of monetary policy, and we believe that foreign currency auctions are in place
Recently, they are working well and satisfactorily while other tools have been reformulated, as well
The legal reserve requirements do not provide banks with useful liquidity management tools and may confuse
In achieving the monetary goal as it subscribes to the requirements of government securities
Don't be a part of it.

The diversity of lending facilities is not very transparent and does not always serve its goals
Policy, and the Ministry of Finance's securities window provides sufficient liquidity, but with restrictive conditions
The development of secondary dealing and an interbank market.

 Moreover, the securities window
The Ministry of Finance suspended the role of the Central Bank of Iraq in monitoring one of the most important management tools
On cash, as they allowed banks to deal with the Central Bank of Iraq, to ​​buy or sell
Securities for the Ministry of Finance as granted articles 28, 29 and 30 of the Central Bank Law
The Iraqi has the authority to manage open market operations and to provide existing facilities to the banks
He laid the foundations for legal reserve requirements, and the authority granted him, in exceptional circumstances, that
The lender would be the last resort, as the aforementioned articles prepared the foundations for creating policy instruments
His speech, which will be approved by the Central Bank of Iraq in this field.

It is noted that the purpose of preparing the new statutory reserve requirements and facilities regulations
Banking is to facilitate the more effective liquidity management of banks in the market and encourage banks
To deal with each other more broadly, rather than dealing exclusively with the central bank
Al-Iraqi exclusively for liquidity management.

Below we list the main causes and features of each new tool: -

Legal Reserve Requirements:

In fact, the legal reserve requirements of the Central Bank of Iraq, and confirmed in
12/12/2003 are three separate requirements in unified instructions.

 It is required that the banks:

Freeze deposits are deposited with the Central Bank of Iraq, which is currently at 20% of liabilities
Deposits and / or current deposits for the previous month, at a rate of 5% of liabilities for savings deposits, and at a rate of 2%
Of fixed and / or temporary deposit obligations, in addition to that, the instructions include two basic requirements
Separate holders of securities of the Ministry of Finance and at least 10% of total liabilities
Bank deposits with a percentage of not less than 10% of the total deposit obligations. 

The request for withdrawal shall be considered
Reserve balances are not compensable, and statutory reserve requirements are declared by instructions
Before the Board of Directors of the Central Bank of Iraq and went to the General Directorate of Statistics and Research and to
The General Directorate of Credit and Banking Supervision. The banks report prepared in accordance with the instructions shall be sent
To the General Directorate of Accounts.

The statutory reserve requirements do not reflect best practices and accordingly, the Central Bank of Iraq
Establishing new requirements for the purpose of providing for the monetary policy needs of the market economy, and wherever they exist
Legal reserve requirements are generally seen as a monetary policy tool rather than a control tool
Accordingly, the responsibility for monitoring each bank is subject to the new requirements that have been implemented
Transferring it from the General Directorate of Credit Control and Banking to the General Directorate of Agreements
And loans, which in turn will bear the primary responsibility for embedding monetary policy as preferred
Preparing unified requirements for monetary policy purposes (i.e. the same for all reserve deposits).


The ratio of the new requirements shall be applied to all deposit liabilities with respect to the concept of cash
The cash multiplier (the ratio of the quantity of cash in relation to the base cash) is more stable and more dependent on it,
In addition, it has a neutral effect on the public’s choice of deposit maturities, which in reality are
It is preferred from a tax policy point of view as foreign currency deposits are also included

The deposit is the basis for the legal reserve requirements, so foreign currency deposits cannot be preferred
And then (the dollarization process) (that is, the dominance of the dollar currency over the Iraqi dinar) and that is why
Requirements for deposits of dinars or foreign currency must be in dinar currency.


The instructions imposed various requirements on banks' deposits with the Central Bank of Iraq
And on cash in the treasury, in fact, the new requirements have been standardized to be requirements
Identical meeting the cash obligations of each bank that maintains deposits in its current account or cash in the treasury
At the Central Bank of Iraq.


The initial return that banks achieve for the new requirements results from the possibility of the
Requirements are on an average basis rather than on a permanent basis.

The requirements will continue to be fixed for monthly periods, but the frozen current deposits are transferred to
A single clearing account for each bank, and the balances kept in its accounts are based on the rate
The average to meet the requirements can be deposited in Iraqi dinars with the Central Bank of Iraq
(And not in the existing deposit facilities) in addition to the new Iraqi cash in bank vaults
The bank may use its deposit or all of its deposits with the Central Bank of Iraq on any day as long as
The statutory reserve rate at the end of the working day (plus the average rate of the Iraqi dinar
The amount in the treasury cash) is equal to or more than the required amount.

The Board of Directors of the Central Bank of Iraq set the reserve ratio at 25% due to requirements
The new legal reserve allowed the banks to use the Iraqi dinar cash in the treasury for repayment
With the requirements, as it will grow with the increase in the assets of the statutory reserve and for the purpose of determining the effect of this
The change in the bank's liquidity (without raising the rate of requirements more than usual) was stipulated
The board of directors shall deposit (20% of the deposits) of the bank with the Central Bank of Iraq
(5% of it) is cash in the bank's vaults.

The average monthly rate for a period can turn statutory reserve requirements into a useful tool
For the purpose of absorbing the wide fluctuations of the liquidity of the bank and according to the daily situations and work stops
At 10% of the statutory reserve requirements for government securities, as a requirement
Separate for cash in the safe.


Existing Facilities:

When financial markets and more broadly, financial systems are underdeveloped, so do banks
Central to rely on existing facilities more than open market operations and in this respect
In particular, existing facilities as a safety valve for response may lead to unfair liquidity developments
Expected or to the various obstacles or inefficiencies that hinder an orderly redistribution of reserves
Via the interbank market. This safety valve function is also necessary, when
Understating the liquidity forecast, the new CBI law allows the bank to save money
Loans and deposit facilities These facilities and the lender of last resort will replace the facilities
Exposure and advances that were used, and the new law does not allow the exposure of deposit balances
Banks at the Central Bank of Iraq.


The purpose of the deposit facilities and the existing facilities is to give security to banks to manage a surplus
Its liquidity is within a moderate rate of interest rates, which broadens the policy objectives of the bank
Central Iraqi Central Bank related to short-term interest rates and in the absence of developed markets
For securities and interbank cash, in which the central bank's open market operations are managed
The Iraqi is expressing his view on the appropriate short-term interest rates
For monetary policy by finding the bank rate ("rate policy)" as an indicative rate
The existing and deposit facilities carry interest rates related to the bank rate and also provide the rates for example

This type of facility is an interest rate that fluctuates between depositing and receiving cash from the bank.
The Iraqi Central Bank for a specified maturity period (overnight investment) as this margin is necessary
To encourage banks to develop a market and easily manage liquidity between them without being present
Necessarily, a permanent deal with the Central Bank of Iraq and as soon as the interbank market develops
Remarkably, the objective of the Central Bank of Iraq in open market operations is to maintain the same
Short-term interest rates between banks are included in the price outlay of two types
Existing facilities.

The rates charged on existing deposit and lending facilities are floating at a level higher or lower than that
The prevailing prices in the money market, and until the development of dealing in the securities of the Ministry of Finance in
The money market and the secondary market between banks. Prices for these two types of facilities will be set
They have a relationship to the policy rate of the central bank, and the central bank must carefully monitor the price
In light of the monetary policy objectives, noting that the bank’s board of directors had set the bank’s rate at 6%.

Existing lending facilities

The existing pre-credit facility provides overnight credit to banks in exchange for a suitable collateral
The desire of banks to borrow as banks will be allowed to borrow in the overnight investment to the maximum amount
Possible in relation to the bank's capital (as long as the bank offers adequate collateral) and at an interest rate
Initial credit day. 

The interest rate will be set at a higher rate than the Central Bank of Iraq rate
The Board of Directors of the Central Bank set the initial credit rate at the bank’s rate plus 2%, ie
It becomes 8% and decreases in the future, when the initial interest rate expands and increases prudence
In the nature of the incidental and temporary facilities, a greater increase will be imposed when using the facilities
For a period exceeding 15 days for each month under the secondary credit facilities, it may be used
The primary credit bank is for a period of 15 days per month and can be used for additional days per month
The concerned person, subject to the prior approval of the Central Bank of Iraq, and in other cases, the bank may be used


Initial credit up to 20% of the bank’s capital, or it may be used in excess of the amount
Also specified subject to the prior approval of the Central Bank.

Secondary credit facilities have the same qualification scale as primary credit facilities, but it is possible
To be extended for longer periods and at a higher interest rate, and granted based on a decision by the Central Bank.

 To begin
A margin of (1) percent will be imposed over the initial credit price, to become 9%, and it is not beneficial
Banks may borrow additional money under these conditions and in circumstances in which they do not suffer from
Temporary banking crises as the Central Bank of Iraq has to settle and be covered
Lending to banks suffering from acute crises with last resort facilities, which will be discussed later
As part of the audit procedures imposed by the General Directorate of Supervision on
Banks and guarantee all the advances of the Central Bank of Iraq under these facilities with guarantees
Accepted by the Central Bank of Iraq, and it shall publish a list of acceptable guarantees for each type of
The facilities may be revised at any time. In principle, the matter relates to credit facilities
First, the Central Bank of Iraq must accept securities issued by the Ministry of Finance
Those with maturities of less than 180 days, as banks have to pledge their securities
In the securities deposit account of the Ministry of Finance by directing the Central Bank of Iraq
To indicate the required amount, which is a pledge in the guarantees account of the Central Bank of Iraq.


LLR facility

The Central Bank of Iraq law also allows lending to banks suffering from financial crises in Iraq
Under exceptional circumstances, as an example, a bank may declare bankruptcy as a result of malicious rumors or
The Central Bank of Iraq might grant a loan to a bank with insufficient solvency, but it continues to struggle
If there is a chronic shortage of liquidity, and for this purpose the bank will be in the two mentioned examples at pain
Intensive audit and it is expected that the audit procedures will continue in order to control the obstacles that suffer
Of them, and in general, what appears at first glance about the cause of the liquidity crisis lies in the inability to
Paying all debts at the same time.

In fact, many countries are making great efforts to support banks that suffer from deficiency
The ability to pay off debts by granting it loans to support its liquidity and through its public treasury
The Central Bank of Iraq does not have the condition that a bank lend to something that suffers from inability to repay
Debts, as the Central Bank of Iraq law specifically defined the conditions for exceptional loans
Article 30 of it and no such loans are granted unless the following conditions are met:

A- If the bank, according to the opinion of the Central Bank of Iraq, is able to pay it
To repay the debts and he had provided an adequate guarantee when borrowing and that his request from the bank

The Iraqi Central Bank is for its financial assistance and is based on the need to improve liquidity
Has or,

B - that such a request for assistance is necessary for the purpose of maintaining the stability of the financial system
The Minister of Finance shall issue a guarantee to the Central Bank of Iraq, written on behalf of
The government of Iraq pledges to repay the loan amount.

A last resort lender facility can raise the secured loan amount for periods
Longer and the central bank can accept collateral in conventional formats (taking care of their evaluation),
The interest rate charged on the lender of last resort facility will be the bank's rate
(Indicative price) that is determined by the Central Bank of Iraq, plus a percentage
 . 5.9%, to become 5.3%

Facilities on deposits

 The Central Bank of Iraq will create an existing deposit facility in which deposits can be accepted
For overnight investment from banks with excess balances.

The central bank cannot place deposits in the facility account unless the bank requests it to do so
Explicitly, the interest rate on such deposits is set at a lower rate than the bank rate specified by the bank
The Central Bank of Iraq will, in principle, set a rate of 2% less than the bank rate. 

This is The facilities will create a solid base for interest rates with very short terms and will help the bank to obtain
Finding stability to some extent when it predicts future interest rates, and until the development of the stock market
Government finance, where the central bank can efficiently manage the open market operations, the facilitation
Deposits can automatically withdraw excess liquidity from the banking sector.


Bank rate

The monetary policy of the Central Bank of Iraq expresses itself regarding the stated interest rates in the market
Cash is for short term periods. Currently, this market is underdeveloped and therefore cannot be relied upon for
Giving a picture of the policy of the Central Bank of Iraq, until the market or secondary market develops
In the area of ​​securities of the Ministry of Finance with short term maturities, the bank will focus
The Central Bank aims to determine the prevailing interest rates among banks for overnight investment by setting a rate
Indicative interest. 

This rate is called the bank rate. Banks are free to set interest rates
In dealing with one another in the market according to any interest rate agreed upon between them. The bank rate is
The indicative price at which the prices are determined in the primary and secondary market and for last resort loans


As well as overnight investment deposit rates. Therefore, the rate considered by the Central Bank of Iraq
Suitable to maintain price stability, and that its monetary policy will try hard to achieve stability
(That is by maintaining bank liquidity at levels in line with the bank's rate).

Open market operations

The central bank can influence bank liquidity (excessive reserves) and then influence
Short-term interest rates by buying and selling government securities. The process of selling
Securities in the market and from the assets of the Central Bank of Iraq will lead to the withdrawal of liquidity
From the banking system (i.e. by reducing bank balances in their reserve accounts with the bank
In contrast, the Central Bank of Iraq purchases from the market will increase from
Liquidity with the bank (that is, from its reserve account balances) such operations are for the market
The open will create an important secondary tool and provide effective liquidity management (in conjunction with currency auctions
Foreign).

Also, different strategies can be followed in open market operations, for example and for a purpose
Achieving long-term monetary growth, the Central Bank of Iraq may choose one of these strategies, adopting it
On the accumulation of foreign currency reserves, and the growth of the monetary impact of foreign currency reserves results
Whether in high or low prices, through the process of direct intervention for the purpose of imposing
Stability of the foreign currency exchange rate, which may impede the open market process,
Otherwise, such operations may be determined in order to create a state of stability in my liquidity
Banks and to maintain the market for short-term interest rates within the expense of facilitation rates
And deposits to the Central Bank of Iraq.

The open market operations depend on the basis of auction with banks, and such auctions are somewhat similar
What is with the foreign currency auctions, which are currently managed by the Central Bank of Iraq, and the bank will take
The Central Bank of Iraq should be taken into account, especially when government stock market operations develop
Purchase or buyback contracts as an effective tool in open market operations.



Khawla /




https://cbi.iq/static/uploads/up/file-153077893228064.pdf
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Opinion on the subject of dinars !! Empty The General Secretariat of the Council of Ministers sponsors the celebration of the launch of the electronic window program for company registration

Post by claud39 on Mon Sep 14, 2020 11:09 am

When I read this article that comes from the government directly, not from the gurus !!

What I mentioned to you from the beginning RamblerNash, and here is an article which tells us that they are slowly coming back to the international market to be able to trade with them, as with the United States !!

  So for that !! In my opinion, and this is still my personal opinion, they must have an exchange rate to make commercial exchanges, and as I said from the beginning they must give training to the people on the new payment system for example !!

I believe this article is pretty clear of the direction they want to go.

It is up to you, dear forum members, to make your own opinion on the subject of dinars, good day everyone !!!




Claud (Moose)




The General Secretariat of the Council of Ministers sponsors the celebration of the launch of the electronic window program for company registration


9/13/2020


Opinion on the subject of dinars !! 2020-09-13-01


The Iraqi government launched the electronic single window program for company registration .


The General Secretariat of the Council of Ministers sponsored a ceremony in cooperation with the Ministry of Trade to launch this program, bearing the slogan "Together to improve the environment for business and investment performance in Iraq ."


The representative of the Secretary-General of the Council of Ministers, Dr. Turhan Al-Mufti, Chairman of the Committee for Follow-up to Resolution (245) on improving the business environment, stated in the opening speech of the ceremony, that despite the obstacles caused by the Corona pandemic, there is insistence on overcoming these obstacles towards the success of the project, which is an essential step towards simplifying procedures. Government and providing services in all fields .


For his part, the representative of the Iraqi Ministry of Trade praised in his speech the bilateral cooperation with the General Secretariat of the Council of Ministers for the success of this project .


The representative of the World Bank also expressed his pleasure at launching such a project that facilitates the practice of commercial activity at the technical level, appreciating the government's efforts to automate services, and pledging to continue the partnership of the World Bank with the Iraqi government to provide financial and technical support .


The celebration included a televised presentation of the program by UNCTAD experts , after which the program was officially launched .


It is noteworthy that the program was implemented in coordination with the Federation of Iraqi Chambers of Commerce and the Baghdad Chamber of Commerce and with the technical efforts of the United Nations (UNCTAD) and with the support of the Economic Department of the American Embassy .






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Opinion on the subject of dinars !! Empty Dr. Ali Allawi receives the Ambassador of the United States of America in Baghdad

Post by claud39 on Mon Sep 14, 2020 11:37 am

Here is another great RamblerNash example, ie trade between 2 countries, how to do business especially with the United States if there is no rate change in your opinion !!

Have a good day my friend !!


Claud (Moose)



Dr. Ali Allawi receives the Ambassador of the United States of America in Baghdad


Sunday, September 13, 2020





Opinion on the subject of dinars !! 68aa6367-a3e0-4271-8059-aa0187393b1f







His Excellency the Minister of Finance, Dr. Ali Allawi, today, Sunday, 9/13/2020, at a library in Baghdad, received the Ambassador of the United States of America to Iraq.

During the meeting, the mechanisms for enhancing economic and financial cooperation between the two countries were reviewed and discussedWhere His Excellency the US Ambassador affirmed his country's full support for the plans and procedures that the Iraqi government is following, especially with regard to reforming and developing the economic and financial sector under the current circumstances.





http://www.mof.gov.iq/Pages/MOFBannerHeadlineDetail.aspx?BannerNewsID=842
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Opinion on the subject of dinars !! Empty Re: Opinion on the subject of dinars !!

Post by RamblerNash on Tue Sep 15, 2020 1:04 am

@claud39 wrote:Here is another great RamblerNash example, ie trade between 2 countries, how to do business especially with the United States if there is no rate change in your opinion !!

Have a good day my friend !!


Claud (Moose)



Dr. Ali Allawi receives the Ambassador of the United States of America in Baghdad


Sunday, September 13, 2020







Opinion on the subject of dinars !! 68aa6367-a3e0-4271-8059-aa0187393b1f







His Excellency the Minister of Finance, Dr. Ali Allawi, today, Sunday, 9/13/2020, at a library in Baghdad, received the Ambassador of the United States of America to Iraq.

During the meeting, the mechanisms for enhancing economic and financial cooperation between the two countries were reviewed and discussedWhere His Excellency the US Ambassador affirmed his country's full support for the plans and procedures that the Iraqi government is following, especially with regard to reforming and developing the economic and financial sector under the current circumstances.





http://www.mof.gov.iq/Pages/MOFBannerHeadlineDetail.aspx?BannerNewsID=842
This article isn't talking about trade, doing business with the US, or about a rate change. You are injecting that.

This is about the US affirming the progress with developing the economic and financial sector under the current circumstances -->within<-- Iraq.
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Opinion on the subject of dinars !! Empty Re: Opinion on the subject of dinars !!

Post by RamblerNash on Tue Sep 15, 2020 1:06 am

@claud39 wrote:When I read this article that comes from the government directly, not from the gurus !!

What I mentioned to you from the beginning RamblerNash, and here is an article which tells us that they are slowly coming back to the international market to be able to trade with them, as with the United States !!

  So for that !! In my opinion, and this is still my personal opinion, they must have an exchange rate to make commercial exchanges, and as I said from the beginning they must give training to the people on the new payment system for example !!

I believe this article is pretty clear of the direction they want to go.

It is up to you, dear forum members, to make your own opinion on the subject of dinars, good day everyone !!!




Claud (Moose)




The General Secretariat of the Council of Ministers sponsors the celebration of the launch of the electronic window program for company registration




9/13/2020


Opinion on the subject of dinars !! 2020-09-13-01


The Iraqi government launched the electronic single window program for company registration .


The General Secretariat of the Council of Ministers sponsored a ceremony in cooperation with the Ministry of Trade to launch this program, bearing the slogan "Together to improve the environment for business and investment performance in Iraq ."


The representative of the Secretary-General of the Council of Ministers, Dr. Turhan Al-Mufti, Chairman of the Committee for Follow-up to Resolution (245) on improving the business environment, stated in the opening speech of the ceremony, that despite the obstacles caused by the Corona pandemic, there is insistence on overcoming these obstacles towards the success of the project, which is an essential step towards simplifying procedures. Government and providing services in all fields .


For his part, the representative of the Iraqi Ministry of Trade praised in his speech the bilateral cooperation with the General Secretariat of the Council of Ministers for the success of this project .


The representative of the World Bank also expressed his pleasure at launching such a project that facilitates the practice of commercial activity at the technical level, appreciating the government's efforts to automate services, and pledging to continue the partnership of the World Bank with the Iraqi government to provide financial and technical support .


The celebration included a televised presentation of the program by UNCTAD experts , after which the program was officially launched .


It is noteworthy that the program was implemented in coordination with the Federation of Iraqi Chambers of Commerce and the Baghdad Chamber of Commerce and with the technical efforts of the United Nations (UNCTAD) and with the support of the Economic Department of the American Embassy .






This article is about simplifying the registration process for companies to do business -->within<-- Iraq.

You keep claiming that they must have an exchange rate. They already do, and it's posted at the CBI.

What makes you think that there are not companies already doing business in Iraq, and at the current exchange rate?
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Opinion on the subject of dinars !! Empty Re: Opinion on the subject of dinars !!

Post by RamblerNash on Tue Sep 15, 2020 1:13 am

@claud39 wrote:
@claud39 wrote:[size=39]Iraqi dinar to have 3 zeros canceled by the Central Bank of Iraq according to Finance Commissioner[/size]




Apr 13, 2013,





Opinion on the subject of dinars !! Iraq-Finance-Committee-MP-Abdul-Hussein-al-Yasiri










The Iraqi dinar will have 3 zeros canceled by the Central Bank of Iraq according to Finance 

 MP Abdul Hussein al-Yassiri.

MP al-Yassiri told Iraqi News that “it is supposed that this year will witness necessary preparations to cancel three zeros from the currency”.

He added that his commission supports such move for its importance to the Iraqi economy.

The Central Bank of Iraq, earlier, announced that cancelling the zeros is within a plan to develop monetary policies in the country.

One of the difficulties facing is Iraq is withdrawing 30 trillion Iraqi dinars from Iraq’s market at the present time and to replacing it with new currency.

Earlier, the ministry of finance ruled out the idea of cancelling the zeros in 2013 because the federal budget was based on the current currency.



https://www.iraqinews.com/business-iraqi-dinar/iraqi-dinar-3-zeros-canceled-by-central-bank-of-iraq-cbi/




He added that his commission supports such move for its importance to the Iraqi economy.

The Central Bank of Iraq, earlier, announced that cancelling the zeros is within a plan to develop monetary policies in the country.




Does this article talk about CBI monetary policy According to you RamblerNash !!

I come back to this, the project exists, and reconstruction will help their return to the international market, by exchanging currencies between them for reconstruction.

So in my opinion !! for all countries to participate in the reconstruction there must be a value of the dinar vis-à-vis the US dollar, and also the Canadian dollar, as for China ... so on!

Have a good day, I will come back later to share the news of the day !!



Claud (Moose)


The deposit is the basis for the legal reserve requirements, so foreign currency deposits cannot be preferred
And then (the dollarization process) (that is, the dominance of the dollar currency over the Iraqi dinar) and that is why
Requirements for deposits of dinars or foreign currency must be in dinar currency.




The open market operations depend on the basis of auction with banks, and such auctions are somewhat similar
What is with the foreign currency auctions, which are currently managed by the Central Bank of Iraq, and the bank will take
The Central Bank of Iraq should be taken into account, especially when government stock market operations develop
Purchase or buyback contracts as an effective tool in open market operations.





Summary of CBI policy tools
 ************************************


 The Board of Directors of the Central Bank of Iraq approved at the sixth meeting
On the twenty of August, new regulations for the legal reserve requirements and banking facilities
Attached herewith, this statement reviews the general features of the new regulations and explains the reasons for their adoption
For the purpose of strengthening the monetary policy management of the Central Bank of Iraq and in supporting the new program that
The Ministry of Finance adopted it in issuing securities.

The Central Bank of Iraq will issue initial instructions to implement the terms of the new regulations,
Changes were made to the regulations of the Central Bank of Iraq and its banking operations to give it control
Better on the money supply and at the same time it gives high confidence to the banks in terms of options
And the conditions for managing the liquidity of their banks, and it is expected that the stock markets will play
The government has an important positive role in managing bank liquidity in accordance with the new regulations and on the other hand
Banks are expected to strengthen their financial position to manage their short-term liquidity requirements
The term (or what is more generally called the market), when banks finally resort to the bank
Central as a last resort.

In order to clarify this, the Central Bank of Iraq will hold several meetings with banks in
The near future to discuss the proposed regulations.


The Ministry of Finance made a change in the method of financing the deficit in its revenues due to the restrictions
The new legal framework imposed upon it when borrowing from the Central Bank of Iraq due to its desire to
Conducting the development of an active market for government securities, according to the requirements of the Public Debt Law
Newly approved, all debt services will be paid in cash, which is why the government securities valuations were paid
With its interest, which are due on the first of July and October for their holders, as for the papers
Government finances owned by the Central Bank of Iraq will be treated according to an agreement concluded between the Ministry of Finance
And the Central Bank of Iraq to restructure the claims of the Central Bank of Iraq against the government,
The Ministry of Finance has already started issuing new securities to finance those owed by it, and they may be sold
New securities after being released on the secondary market.

The Central Bank of Iraq reformulated its banking relationship with banks to develop a market
It depends on new monetary policy tools for the purpose of facilitating the development of the new stock market
For the Ministry of Finance, there is no requirement for now from the banks to acquire equivalent securities
10% of total deposits (now included in the list of reserve requirements).


The Central Bank of Iraq will not deal in the future in the sale or purchase of securities as desired
In addition, the banks closed the exposure facilities and advances granted by the bank
The Central Bank of Iraq replaced it with new existing facilities for lending and deposits, which it approved
Recently, the bank’s board of directors, and the regulation of statutory reserve requirements, will come into effect in one month
November The Central Bank of Iraq may buy or sell securities for a ministry by a decision
Finance at banks according to a competitive principle for the needs and purposes of monetary policy (to be launched
All these instrument-related changes are detailed below
The new monetary policy: -

Monetary Policy Tools:

The formulation prepared by the Central Bank of Iraq for monetary policy tools serves to strengthen
The ability of banks to manage short-term liquidity, which is directed by the Central Bank of Iraq
The required monetary policy (which can be evaluated according to various intermediate variables, including
The yield curve, the exchange rate, and the amount of growth in the money supply) in terms of capacity
Liquidity management, the monetary policy tools adopted by the central bank must work with ASWAQ
Cash and other securities to create an effective payment system that gives banks confidence in meeting obligations
Pay it and have reasonable costs.

To be sure, the most costly to provide liquidity is by using additional reserves (such as cash in
Safes and balances with the Central Bank of Iraq in excess of the reserve requirements
Legal) as well as the margins of intervention (the difference between interest rates on deposits and on loans)
They can be reduced by allowing the banks to reduce their holdings of the returns arising from excess reserves
They do not bear interest and the ability of banks to reduce their excess reserves depends on finding intermediaries
Reliable liquidity management.

The Central Bank of Iraq has taken effective and influential tools on the liquidity market (basic cash), which are: -

1 - Foreign currency auctions in which the Central Bank of Iraq buys or sells dollars from
Or to the market in light of its political goals.

2- A list of statutory reserve requirements on which banks rely for possession
Customer deposits, i.e. with differential levels of deposits with the Central Bank of Iraq, cash
In the treasuries and securities of the Ministry of Finance.

3- Exposure facilities for banks that have reserve account balances in the bank
The Iraqi Central Bank, but it is not sufficient to settle its obligations at the end of the working day
Banker


4- The discount window for bills of exchange or similar bank notes with lesser terms
From 90 days and endorsed by at least two signatures (currently imposed at 11% for papers
First Class Finance).

5- Lender of last resort facilities, which are given to troubled banks
Chronic liquidity in exchange for a guarantee offered by it.

6- The Ministry of Finance's securities window and buy or sell such banks under it
Government papers at face value (i.e. at the interest rate upon issuance)
The aforementioned tools are insufficient to develop an effective market that directs the financial sector, in particular
Not suitable for developing a market with sufficient liquidity for government securities or for management
A market built on the basis of monetary policy, and we believe that foreign currency auctions are in place
Recently, they are working well and satisfactorily while other tools have been reformulated, as well
The legal reserve requirements do not provide banks with useful liquidity management tools and may confuse
In achieving the monetary goal as it subscribes to the requirements of government securities
Don't be a part of it.

The diversity of lending facilities is not very transparent and does not always serve its goals
Policy, and the Ministry of Finance's securities window provides sufficient liquidity, but with restrictive conditions
The development of secondary dealing and an interbank market.

 Moreover, the securities window
The Ministry of Finance suspended the role of the Central Bank of Iraq in monitoring one of the most important management tools
On cash, as they allowed banks to deal with the Central Bank of Iraq, to ​​buy or sell
Securities for the Ministry of Finance as granted articles 28, 29 and 30 of the Central Bank Law
The Iraqi has the authority to manage open market operations and to provide existing facilities to the banks
He laid the foundations for legal reserve requirements, and the authority granted him, in exceptional circumstances, that
The lender would be the last resort, as the aforementioned articles prepared the foundations for creating policy instruments
His speech, which will be approved by the Central Bank of Iraq in this field.

It is noted that the purpose of preparing the new statutory reserve requirements and facilities regulations
Banking is to facilitate the more effective liquidity management of banks in the market and encourage banks
To deal with each other more broadly, rather than dealing exclusively with the central bank
Al-Iraqi exclusively for liquidity management.

Below we list the main causes and features of each new tool: -

Legal Reserve Requirements:

In fact, the legal reserve requirements of the Central Bank of Iraq, and confirmed in
12/12/2003 are three separate requirements in unified instructions.

 It is required that the banks:

Freeze deposits are deposited with the Central Bank of Iraq, which is currently at 20% of liabilities
Deposits and / or current deposits for the previous month, at a rate of 5% of liabilities for savings deposits, and at a rate of 2%
Of fixed and / or temporary deposit obligations, in addition to that, the instructions include two basic requirements
Separate holders of securities of the Ministry of Finance and at least 10% of total liabilities
Bank deposits with a percentage of not less than 10% of the total deposit obligations. 

The request for withdrawal shall be considered
Reserve balances are not compensable, and statutory reserve requirements are declared by instructions
Before the Board of Directors of the Central Bank of Iraq and went to the General Directorate of Statistics and Research and to
The General Directorate of Credit and Banking Supervision. The banks report prepared in accordance with the instructions shall be sent
To the General Directorate of Accounts.

The statutory reserve requirements do not reflect best practices and accordingly, the Central Bank of Iraq
Establishing new requirements for the purpose of providing for the monetary policy needs of the market economy, and wherever they exist
Legal reserve requirements are generally seen as a monetary policy tool rather than a control tool
Accordingly, the responsibility for monitoring each bank is subject to the new requirements that have been implemented
Transferring it from the General Directorate of Credit Control and Banking to the General Directorate of Agreements
And loans, which in turn will bear the primary responsibility for embedding monetary policy as preferred
Preparing unified requirements for monetary policy purposes (i.e. the same for all reserve deposits).


The ratio of the new requirements shall be applied to all deposit liabilities with respect to the concept of cash
The cash multiplier (the ratio of the quantity of cash in relation to the base cash) is more stable and more dependent on it,
In addition, it has a neutral effect on the public’s choice of deposit maturities, which in reality are
It is preferred from a tax policy point of view as foreign currency deposits are also included

The deposit is the basis for the legal reserve requirements, so foreign currency deposits cannot be preferred
And then (the dollarization process) (that is, the dominance of the dollar currency over the Iraqi dinar) and that is why
Requirements for deposits of dinars or foreign currency must be in dinar currency.


The instructions imposed various requirements on banks' deposits with the Central Bank of Iraq
And on cash in the treasury, in fact, the new requirements have been standardized to be requirements
Identical meeting the cash obligations of each bank that maintains deposits in its current account or cash in the treasury
At the Central Bank of Iraq.


The initial return that banks achieve for the new requirements results from the possibility of the
Requirements are on an average basis rather than on a permanent basis.

The requirements will continue to be fixed for monthly periods, but the frozen current deposits are transferred to
A single clearing account for each bank, and the balances kept in its accounts are based on the rate
The average to meet the requirements can be deposited in Iraqi dinars with the Central Bank of Iraq
(And not in the existing deposit facilities) in addition to the new Iraqi cash in bank vaults
The bank may use its deposit or all of its deposits with the Central Bank of Iraq on any day as long as
The statutory reserve rate at the end of the working day (plus the average rate of the Iraqi dinar
The amount in the treasury cash) is equal to or more than the required amount.

The Board of Directors of the Central Bank of Iraq set the reserve ratio at 25% due to requirements
The new legal reserve allowed the banks to use the Iraqi dinar cash in the treasury for repayment
With the requirements, as it will grow with the increase in the assets of the statutory reserve and for the purpose of determining the effect of this
The change in the bank's liquidity (without raising the rate of requirements more than usual) was stipulated
The board of directors shall deposit (20% of the deposits) of the bank with the Central Bank of Iraq
(5% of it) is cash in the bank's vaults.

The average monthly rate for a period can turn statutory reserve requirements into a useful tool
For the purpose of absorbing the wide fluctuations of the liquidity of the bank and according to the daily situations and work stops
At 10% of the statutory reserve requirements for government securities, as a requirement
Separate for cash in the safe.


Existing Facilities:

When financial markets and more broadly, financial systems are underdeveloped, so do banks
Central to rely on existing facilities more than open market operations and in this respect
In particular, existing facilities as a safety valve for response may lead to unfair liquidity developments
Expected or to the various obstacles or inefficiencies that hinder an orderly redistribution of reserves
Via the interbank market. This safety valve function is also necessary, when
Understating the liquidity forecast, the new CBI law allows the bank to save money
Loans and deposit facilities These facilities and the lender of last resort will replace the facilities
Exposure and advances that were used, and the new law does not allow the exposure of deposit balances
Banks at the Central Bank of Iraq.


The purpose of the deposit facilities and the existing facilities is to give security to banks to manage a surplus
Its liquidity is within a moderate rate of interest rates, which broadens the policy objectives of the bank
Central Iraqi Central Bank related to short-term interest rates and in the absence of developed markets
For securities and interbank cash, in which the central bank's open market operations are managed
The Iraqi is expressing his view on the appropriate short-term interest rates
For monetary policy by finding the bank rate ("rate policy)" as an indicative rate
The existing and deposit facilities carry interest rates related to the bank rate and also provide the rates for example

This type of facility is an interest rate that fluctuates between depositing and receiving cash from the bank.
The Iraqi Central Bank for a specified maturity period (overnight investment) as this margin is necessary
To encourage banks to develop a market and easily manage liquidity between them without being present
Necessarily, a permanent deal with the Central Bank of Iraq and as soon as the interbank market develops
Remarkably, the objective of the Central Bank of Iraq in open market operations is to maintain the same
Short-term interest rates between banks are included in the price outlay of two types
Existing facilities.

The rates charged on existing deposit and lending facilities are floating at a level higher or lower than that
The prevailing prices in the money market, and until the development of dealing in the securities of the Ministry of Finance in
The money market and the secondary market between banks. Prices for these two types of facilities will be set
They have a relationship to the policy rate of the central bank, and the central bank must carefully monitor the price
In light of the monetary policy objectives, noting that the bank’s board of directors had set the bank’s rate at 6%.

Existing lending facilities

The existing pre-credit facility provides overnight credit to banks in exchange for a suitable collateral
The desire of banks to borrow as banks will be allowed to borrow in the overnight investment to the maximum amount
Possible in relation to the bank's capital (as long as the bank offers adequate collateral) and at an interest rate
Initial credit day. 

The interest rate will be set at a higher rate than the Central Bank of Iraq rate
The Board of Directors of the Central Bank set the initial credit rate at the bank’s rate plus 2%, ie
It becomes 8% and decreases in the future, when the initial interest rate expands and increases prudence
In the nature of the incidental and temporary facilities, a greater increase will be imposed when using the facilities
For a period exceeding 15 days for each month under the secondary credit facilities, it may be used
The primary credit bank is for a period of 15 days per month and can be used for additional days per month
The concerned person, subject to the prior approval of the Central Bank of Iraq, and in other cases, the bank may be used


Initial credit up to 20% of the bank’s capital, or it may be used in excess of the amount
Also specified subject to the prior approval of the Central Bank.

Secondary credit facilities have the same qualification scale as primary credit facilities, but it is possible
To be extended for longer periods and at a higher interest rate, and granted based on a decision by the Central Bank.

 To begin
A margin of (1) percent will be imposed over the initial credit price, to become 9%, and it is not beneficial
Banks may borrow additional money under these conditions and in circumstances in which they do not suffer from
Temporary banking crises as the Central Bank of Iraq has to settle and be covered
Lending to banks suffering from acute crises with last resort facilities, which will be discussed later
As part of the audit procedures imposed by the General Directorate of Supervision on
Banks and guarantee all the advances of the Central Bank of Iraq under these facilities with guarantees
Accepted by the Central Bank of Iraq, and it shall publish a list of acceptable guarantees for each type of
The facilities may be revised at any time. In principle, the matter relates to credit facilities
First, the Central Bank of Iraq must accept securities issued by the Ministry of Finance
Those with maturities of less than 180 days, as banks have to pledge their securities
In the securities deposit account of the Ministry of Finance by directing the Central Bank of Iraq
To indicate the required amount, which is a pledge in the guarantees account of the Central Bank of Iraq.


LLR facility

The Central Bank of Iraq law also allows lending to banks suffering from financial crises in Iraq
Under exceptional circumstances, as an example, a bank may declare bankruptcy as a result of malicious rumors or
The Central Bank of Iraq might grant a loan to a bank with insufficient solvency, but it continues to struggle
If there is a chronic shortage of liquidity, and for this purpose the bank will be in the two mentioned examples at pain
Intensive audit and it is expected that the audit procedures will continue in order to control the obstacles that suffer
Of them, and in general, what appears at first glance about the cause of the liquidity crisis lies in the inability to
Paying all debts at the same time.

In fact, many countries are making great efforts to support banks that suffer from deficiency
The ability to pay off debts by granting it loans to support its liquidity and through its public treasury
The Central Bank of Iraq does not have the condition that a bank lend to something that suffers from inability to repay
Debts, as the Central Bank of Iraq law specifically defined the conditions for exceptional loans
Article 30 of it and no such loans are granted unless the following conditions are met:

A- If the bank, according to the opinion of the Central Bank of Iraq, is able to pay it
To repay the debts and he had provided an adequate guarantee when borrowing and that his request from the bank

The Iraqi Central Bank is for its financial assistance and is based on the need to improve liquidity
Has or,

B - that such a request for assistance is necessary for the purpose of maintaining the stability of the financial system
The Minister of Finance shall issue a guarantee to the Central Bank of Iraq, written on behalf of
The government of Iraq pledges to repay the loan amount.

A last resort lender facility can raise the secured loan amount for periods
Longer and the central bank can accept collateral in conventional formats (taking care of their evaluation),
The interest rate charged on the lender of last resort facility will be the bank's rate
(Indicative price) that is determined by the Central Bank of Iraq, plus a percentage
 . 5.9%, to become 5.3%

Facilities on deposits

 The Central Bank of Iraq will create an existing deposit facility in which deposits can be accepted
For overnight investment from banks with excess balances.

The central bank cannot place deposits in the facility account unless the bank requests it to do so
Explicitly, the interest rate on such deposits is set at a lower rate than the bank rate specified by the bank
The Central Bank of Iraq will, in principle, set a rate of 2% less than the bank rate. 

This is The facilities will create a solid base for interest rates with very short terms and will help the bank to obtain
Finding stability to some extent when it predicts future interest rates, and until the development of the stock market
Government finance, where the central bank can efficiently manage the open market operations, the facilitation
Deposits can automatically withdraw excess liquidity from the banking sector.


Bank rate

The monetary policy of the Central Bank of Iraq expresses itself regarding the stated interest rates in the market
Cash is for short term periods. Currently, this market is underdeveloped and therefore cannot be relied upon for
Giving a picture of the policy of the Central Bank of Iraq, until the market or secondary market develops
In the area of ​​securities of the Ministry of Finance with short term maturities, the bank will focus
The Central Bank aims to determine the prevailing interest rates among banks for overnight investment by setting a rate
Indicative interest. 

This rate is called the bank rate. Banks are free to set interest rates
In dealing with one another in the market according to any interest rate agreed upon between them. The bank rate is
The indicative price at which the prices are determined in the primary and secondary market and for last resort loans


As well as overnight investment deposit rates. Therefore, the rate considered by the Central Bank of Iraq
Suitable to maintain price stability, and that its monetary policy will try hard to achieve stability
(That is by maintaining bank liquidity at levels in line with the bank's rate).

Open market operations

The central bank can influence bank liquidity (excessive reserves) and then influence
Short-term interest rates by buying and selling government securities. The process of selling
Securities in the market and from the assets of the Central Bank of Iraq will lead to the withdrawal of liquidity
From the banking system (i.e. by reducing bank balances in their reserve accounts with the bank
In contrast, the Central Bank of Iraq purchases from the market will increase from
Liquidity with the bank (that is, from its reserve account balances) such operations are for the market
The open will create an important secondary tool and provide effective liquidity management (in conjunction with currency auctions
Foreign).

Also, different strategies can be followed in open market operations, for example and for a purpose
Achieving long-term monetary growth, the Central Bank of Iraq may choose one of these strategies, adopting it
On the accumulation of foreign currency reserves, and the growth of the monetary impact of foreign currency reserves results
Whether in high or low prices, through the process of direct intervention for the purpose of imposing
Stability of the foreign currency exchange rate, which may impede the open market process,
Otherwise, such operations may be determined in order to create a state of stability in my liquidity
Banks and to maintain the market for short-term interest rates within the expense of facilitation rates
And deposits to the Central Bank of Iraq.

The open market operations depend on the basis of auction with banks, and such auctions are somewhat similar
What is with the foreign currency auctions, which are currently managed by the Central Bank of Iraq, and the bank will take
The Central Bank of Iraq should be taken into account, especially when government stock market operations develop
Purchase or buyback contracts as an effective tool in open market operations.



Khawla /




https://cbi.iq/static/uploads/up/file-153077893228064.pdf
Claud, there already is a value to the Dinar for the US, Canada, China, and so on. It is just not the one you like.

While the "delete the zeros" (Redenomination) project is -->within<-- the plan to develop monetary policies in the country, that doesn't mean it will be implemented.

Notice the text that you did not highlight:


One of the difficulties facing is Iraq is withdrawing 30 trillion Iraqi dinars from Iraq’s market at the present time and to replacing it with new currency.

Earlier, the ministry of finance ruled out the idea of cancelling the zeros in 2013 because the federal budget was based on the current currency.


That article was written in 2013. Currently, there is about 50 trillion Iraqi dinars in Iraq’s market.

What was your point of reiterating the banking operations article for banks operating -->within<-- Iraq?

It doesn't really have anything to do with the currency exchange rate other than removing foreign/multi-currency bank accounts -->within<-- Iraq.
RamblerNash
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Opinion on the subject of dinars !! Empty Re: Opinion on the subject of dinars !!

Post by RamblerNash on Tue Sep 15, 2020 1:26 am

@claud39 wrote:Just so that we understand each other well RamblerNash !!

Is that what you're asking me to go see ???

If this is what you mention to me I agree with you, no value, but let's not forget that they are on the secondary market, and not at the level of international trade !!

Okay with you, but let them mark on their central bank documentary which tells us this !!!

 The deposit is the basis for the legal reserve requirements, so foreign currency deposits cannot be preferred
And then (the dollarization process) (that is, the dominance of the dollar currency over the Iraqi dinar) and that is why
Requirements for deposits of dinars or foreign currency must be in dinar currency.

To do this, and for the United States to trade with Iraq, it has to go international, so it has to have a value to trade with the United States, like before 2003, but it's not worth it. say they are going to have the same rate as 2003, but they could according to me, and that is only my personal opinion !!!
It would not surprise me that they start with 1 dinars = 1 American dollar, everyone who is in a hurry will jump in front of their eyes to close !!!

I believe and this is still my personal opinion, that they will start quietly and then resume their old value !!

Why I say this is that the former first Al-Abadi had mentioned in an interview with a journalist, and this news I had on the other forum where I applied before coming to this site, but unable to find this news, since I can't go to this site now !!!

Another example, the director of the central bank also mentioned that the plan to suppress still existed, but he was waiting for the right circumstances to move !!

The project to abolish the 3 zeros should have been done for 2014, but you know the reasons that this was delayed, namely the Islamic State when they attacked Iraq, and especially the city of Mosul at that time !!

I notice from my side, and I mention it once again that it is my personal opinion, that it is the best time to come back to the international level to start now the reconstruction of Iraq, I have always said it (When the construction, goes, everything goes).

It is with reconstruction, and with the private sector that will help their return to the international market, and revive the country, not with oil, but with petroleum derivatives, and as another example, be the construction of the faw port, this will give an opening to the middle east through Iraq !!

Especially to join the Silk Road, it will still help them to get Iraq back on its feet !!

A lot of advantage for them on their return to the international scene, and you know that they are going to have a meeting with the WTO soon, they are going to be delayed by a year, they will meet before the end of this year , they must have a good reason my friend !!!

Good day to all forum members !!


Claud (Moose)


IQD - Iraqi Dinar


Iraq, Dinar


The Iraqi Dinar is the currency of Iraq. Our currency rankings show that the most popular Iraq Dinar exchange rate is the USD to IQD rate . The currency code for Dinars is IQD, and the currency symbol is د.ع. Below, you'll find Iraqi Dinar rates and a currency converter. You can also sign up for our currency newsletters to receive daily rate and analysis, read the XE Currency Blog or view IQD rates anytime through our XE Currency Apps and website.

Notice: IQD may be redenominated.





Most Popular IQD Cross Courses










USD SAR EUR MYR GBP INR CAD AED TRY/















[size=30]
35
[/size]
IQD0.000840.003150.000710.003490.000660.061720.001110.003090.00628
Reverse:1190.19317,3851410.00286,5711522.9316.2031903,583324,082159,261
2020-09-13 16:49 UTC
All 





figures are live average market rates , which are not available to consumers and are provided for informational purposes only. To see an estimate of our money transfer rates, please use our money transfer service.


Click on a rate to see its graph.


Currency facts







IQD Statistics
Name: Iraqi Dinar
Symbol: د.ع
Minor unit:
1/1000 = son
Most popular IQD conversion:
USD / IQD
Most popular IQD Chart :
USD / IQD Chart
IQD Profile
Inflation: 0.10%
Parts:
Frequently used: د.ع 25, د.ع 50, د.ع 100
Banknotes:
Frequently used: د.ع 50, د.ع 100, د.ع 250, د.ع 500, د.ع 1000, د.ع 5000, د.ع 10000, د.ع 25000

Central Bank : Central Bank of Iraq
Website: http://www.cbi.iq/
Users: Iraq
Have more info about the Iraqi Dinar?


[email=currencyinfo@xe.com?subject=Currency%20Encyclopedia%20-%20New%20Facts&body=Currency%20Facts%0A%0AI%20would%20like%20to%20contribute%20to%20the%20XE%20Currency%20Encyclopedia.%0AI%20am%20providing%20the%20currency%20facts%20below%20and%20understand%20that%20XE%20will%20publish%20them%20when%20the%20sources%20I%20provide%20have%20been%20confirmed.%0A%0ACurrency%20Code:%20IQD%0ACurrency%20Name:%20Dinar%20irakien%0AExtra%20facts:%0A%0A%0ABy%20sending%20this%20email,%20I%20agree%20to%20comply%20with%20the%20XE%20Terms%20of%20Use.%0A%0Ahttps://www.xe.com/legal/]Contact us by e-mail  [/email]



Amount
Of

Opinion on the subject of dinars !! Usd.static.32a753a23262e7a5de13e84d52ad2e49



USD United States dollar



AT
Opinion on the subject of dinars !! Iqd.static.e047760ff95cc018531946d149236cf2
IQDIraqi dinar





1 USD = 1190.19  IQD

1 IQD = 0.000840200 USD
1 USD = 1,190.19 IQD


Converting Dollar US in Iraqi Dinar

Last update : 2020-09-13 16:45 UTC
Read important information about the IQD .


All figures are live [size=18]average market rates , which are not available to consumers and are provided for informational purposes only.


[/size]


[size=34]The Iraqi Chargé d'Affairs to Geneva meets with the head of the working group on Iraq's accession to the World Trade Organization / WTO[/size]




03/09/2020





Opinion on the subject of dinars !! WhatsApp-Image-2020-08-31-at-10.28.25-AM




The Chargé d'Affairs and Plenipotentiary Minister Dr. Abbas Kazem Obeid met in Geneva the head of the working group on Iraq's accession to the World Trade Organization, Ambassador Omar Hilal / Permanent Representative of the Kingdom of Morocco to the United Nations in New York, in the presence of the Director of the Accession Department at the World Trade Organization, Mrs. Maika Oshikawa and her assistance in The headquarters of the organization, and the two sides exchanged talks about ways to activate the file of Iraq's accession to the organization and the importance of continuing work in completing the technical documents to complete the requirements for joining and overcome the obstacles and challenges facing the accession process. 


In this regard; It was agreed to prepare training programs for members of the national negotiating team, as well as to discuss the importance of setting a new date for the high-level conference on Iraq's accession to the World Trade Organization, which was supposed to be held in Baghdad for the period 26-27 / 11/2019.





https://www.mofa.gov.iq/2020/09/?p=16874




Claud (Moose)


@claud39 wrote:Just so that we understand each other well RamblerNash !!

Is that what you're asking me to go see ???
You have avoided giving the answer several times now, but instead posted article after article trying to explain other issues.

It is just a number. It needs no article, justification, opinion, or other issues brought into that part of the discussion.

I would ask again, but you don't seem to want to have that discussion. That's a shame. It's directly related to the many articles you have posted.

@claud39 wrote:If this is what you mention to me I agree with you, no value, but let's not forget that they are on the secondary market, and not at the level of international trade !!
It doesn't matter what the market is. The Dinar has a value. It's just not one you like, but the CBI is maintaining it's stability.

@claud39 wrote:
To do this, and for the United States to trade with Iraq, it has to go international, so it has to have a value to trade with the United States, like before 2003, but it's not worth it. say they are going to have the same rate as 2003, but they could according to me, and that is only my personal opinion !!!
It would not surprise me that they start with 1 dinars = 1 American dollar, everyone who is in a hurry will jump in front of their eyes to close !!!
That's a fantacy. There isn't a starting point like you describe. If there is, provide the proof from the CBI or GOI that says that.
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Opinion on the subject of dinars !! Empty Re: Opinion on the subject of dinars !!

Post by claud39 on Tue Sep 15, 2020 11:36 am

@RamblerNash wrote:
@claud39 wrote:Just so that we understand each other well RamblerNash !!

Is that what you're asking me to go see ???

If this is what you mention to me I agree with you, no value, but let's not forget that they are on the secondary market, and not at the level of international trade !!

Okay with you, but let them mark on their central bank documentary which tells us this !!!

 The deposit is the basis for the legal reserve requirements, so foreign currency deposits cannot be preferred
And then (the dollarization process) (that is, the dominance of the dollar currency over the Iraqi dinar) and that is why
Requirements for deposits of dinars or foreign currency must be in dinar currency.

To do this, and for the United States to trade with Iraq, it has to go international, so it has to have a value to trade with the United States, like before 2003, but it's not worth it. say they are going to have the same rate as 2003, but they could according to me, and that is only my personal opinion !!!
It would not surprise me that they start with 1 dinars = 1 American dollar, everyone who is in a hurry will jump in front of their eyes to close !!!

I believe and this is still my personal opinion, that they will start quietly and then resume their old value !!

Why I say this is that the former first Al-Abadi had mentioned in an interview with a journalist, and this news I had on the other forum where I applied before coming to this site, but unable to find this news, since I can't go to this site now !!!

Another example, the director of the central bank also mentioned that the plan to suppress still existed, but he was waiting for the right circumstances to move !!

The project to abolish the 3 zeros should have been done for 2014, but you know the reasons that this was delayed, namely the Islamic State when they attacked Iraq, and especially the city of Mosul at that time !!

I notice from my side, and I mention it once again that it is my personal opinion, that it is the best time to come back to the international level to start now the reconstruction of Iraq, I have always said it (When the construction, goes, everything goes).

It is with reconstruction, and with the private sector that will help their return to the international market, and revive the country, not with oil, but with petroleum derivatives, and as another example, be the construction of the faw port, this will give an opening to the middle east through Iraq !!

Especially to join the Silk Road, it will still help them to get Iraq back on its feet !!

A lot of advantage for them on their return to the international scene, and you know that they are going to have a meeting with the WTO soon, they are going to be delayed by a year, they will meet before the end of this year , they must have a good reason my friend !!!

Good day to all forum members !!


Claud (Moose)


IQD - Iraqi Dinar


Iraq, Dinar


The Iraqi Dinar is the currency of Iraq. Our currency rankings show that the most popular Iraq Dinar exchange rate is the USD to IQD rate . The currency code for Dinars is IQD, and the currency symbol is د.ع. Below, you'll find Iraqi Dinar rates and a currency converter. You can also sign up for our currency newsletters to receive daily rate and analysis, read the XE Currency Blog or view IQD rates anytime through our XE Currency Apps and website.

Notice: IQD may be redenominated.





Most Popular IQD Cross Courses












USD SAR EUR MYR GBP INR CAD AED TRY/





















[size=30]
35
[/size]
IQD0.000840.003150.000710.003490.000660.061720.001110.003090.00628
Reverse:1190.19317,3851410.00286,5711522.9316.2031903,583324,082159,261
2020-09-13 16:49 UTC
All 





figures are live average market rates , which are not available to consumers and are provided for informational purposes only. To see an estimate of our money transfer rates, please use our money transfer service.


Click on a rate to see its graph.


Currency facts









IQD Statistics
Name: Iraqi Dinar
Symbol: د.ع
Minor unit:
1/1000 = son
Most popular IQD conversion:
USD / IQD
Most popular IQD Chart :
USD / IQD Chart
IQD Profile
Inflation: 0.10%
Parts:
Frequently used: د.ع 25, د.ع 50, د.ع 100
Banknotes:
Frequently used: د.ع 50, د.ع 100, د.ع 250, د.ع 500, د.ع 1000, د.ع 5000, د.ع 10000, د.ع 25000

Central Bank : Central Bank of Iraq
Website: http://www.cbi.iq/
Users: Iraq
Have more info about the Iraqi Dinar?


[email=currencyinfo@xe.com?subject=Currency%20Encyclopedia%20-%20New%20Facts&body=Currency%20Facts%0A%0AI%20would%20like%20to%20contribute%20to%20the%20XE%20Currency%20Encyclopedia.%0AI%20am%20providing%20the%20currency%20facts%20below%20and%20understand%20that%20XE%20will%20publish%20them%20when%20the%20sources%20I%20provide%20have%20been%20confirmed.%0A%0ACurrency%20Code:%20IQD%0ACurrency%20Name:%20Dinar%20irakien%0AExtra%20facts:%0A%0A%0ABy%20sending%20this%20email,%20I%20agree%20to%20comply%20with%20the%20XE%20Terms%20of%20Use.%0A%0Ahttps://www.xe.com/legal/]Contact us by e-mail  [/email]



Amount
Of

Opinion on the subject of dinars !! Usd.static.32a753a23262e7a5de13e84d52ad2e49



USD United States dollar



AT
Opinion on the subject of dinars !! Iqd.static.e047760ff95cc018531946d149236cf2
IQDIraqi dinar





1 USD = 1190.19  IQD

1 IQD = 0.000840200 USD
1 USD = 1,190.19 IQD


Converting Dollar US in Iraqi Dinar

Last update : 2020-09-13 16:45 UTC
Read important information about the IQD .


All figures are live [size=18]average market rates , which are not available to consumers and are provided for informational purposes only.


[/size]


[size=34]The Iraqi Chargé d'Affairs to Geneva meets with the head of the working group on Iraq's accession to the World Trade Organization / WTO[/size]




03/09/2020





Opinion on the subject of dinars !! WhatsApp-Image-2020-08-31-at-10.28.25-AM




The Chargé d'Affairs and Plenipotentiary Minister Dr. Abbas Kazem Obeid met in Geneva the head of the working group on Iraq's accession to the World Trade Organization, Ambassador Omar Hilal / Permanent Representative of the Kingdom of Morocco to the United Nations in New York, in the presence of the Director of the Accession Department at the World Trade Organization, Mrs. Maika Oshikawa and her assistance in The headquarters of the organization, and the two sides exchanged talks about ways to activate the file of Iraq's accession to the organization and the importance of continuing work in completing the technical documents to complete the requirements for joining and overcome the obstacles and challenges facing the accession process. 


In this regard; It was agreed to prepare training programs for members of the national negotiating team, as well as to discuss the importance of setting a new date for the high-level conference on Iraq's accession to the World Trade Organization, which was supposed to be held in Baghdad for the period 26-27 / 11/2019.





https://www.mofa.gov.iq/2020/09/?p=16874




Claud (Moose)


@claud39 wrote:Just so that we understand each other well RamblerNash !!

Is that what you're asking me to go see ???
You have avoided giving the answer several times now, but instead posted article after article trying to explain other issues.

It is just a number. It needs no article, justification, opinion, or other issues brought into that part of the discussion.

I would ask again, but you don't seem to want to have that discussion. That's a shame. It's directly related to the many articles you have posted.

@claud39 wrote:If this is what you mention to me I agree with you, no value, but let's not forget that they are on the secondary market, and not at the level of international trade !!
It doesn't matter what the market is. The Dinar has a value. It's just not one you like, but the CBI is maintaining it's stability.

@claud39 wrote:
To do this, and for the United States to trade with Iraq, it has to go international, so it has to have a value to trade with the United States, like before 2003, but it's not worth it. say they are going to have the same rate as 2003, but they could according to me, and that is only my personal opinion !!!
It would not surprise me that they start with 1 dinars = 1 American dollar, everyone who is in a hurry will jump in front of their eyes to close !!!
That's a fantacy. There isn't a starting point like you describe. If there is, provide the proof from the CBI or GOI that says that.




You have avoided giving the answer several times now, but instead posted article after article trying to explain other issues.

It is just a number. It needs no article, justification, opinion, or other issues brought into that part of the discussion.

I would ask again, but you don't seem to want to have that discussion. That's a shame. It's directly related to the many articles you have posted.









Okay my RamblerNash, you want to be right, I agree with you, you don't want to understand what I mean, and I'm not avoiding the discussion, on the contrary, but that could you mean that I don't understand your question, That doesn't work out very well, since I'm not an economist, and especially since I'm not a guru, and I'm not trying to be right !!!



Now that I have given you my personal opinion, and since I do not want to insult you like now when you try to take me for a colonist on the forum !!



I would ask again, but you don't seem to want to have that discussion. That's a shame. It's directly related to the many articles you have posted.



You know I am like everyone else on the forum, a very ordinary person who follows the news of the country to see the true reality of what is happening in Iraq, I am especially not the news of the gurus !!



Without insulting you, it's your role to share the news of the gurus, and we can see very well that you follow this more than me on this, so continue on that !!



I share the news for fun on your forum, but I really don't have to do that, I don't need the forum to follow the country's news, and I don't have to spend part of the day with you share the real news of the country, the government etc ... if you want to take my place to apply on the forum, you are welcome !!



Me I will start to decrease sharing news, especially you show me that I am wasting my time, then I will share my time on other things, it will take me less time during my day, I would not the need to always translate the news to share on the forum, and seek the reality of the country !!



I am sure you are going to be even better than me in putting up your own truth, I tell you and the members have a nice day !!



 I'm going to go back to my world as you said, and I'm going to do my little news tour for me, and then I'm going to go do my homework, I'm going to focus on that instead of sharing news from Iraq !!!



Have a good week !!!





Claud (Moose)
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Opinion on the subject of dinars !! Empty Re: Opinion on the subject of dinars !!

Post by RamblerNash on Tue Sep 15, 2020 10:03 pm

@claud39 wrote:
@RamblerNash wrote:
@claud39 wrote:Just so that we understand each other well RamblerNash !!

Is that what you're asking me to go see ???

If this is what you mention to me I agree with you, no value, but let's not forget that they are on the secondary market, and not at the level of international trade !!

Okay with you, but let them mark on their central bank documentary which tells us this !!!

 The deposit is the basis for the legal reserve requirements, so foreign currency deposits cannot be preferred
And then (the dollarization process) (that is, the dominance of the dollar currency over the Iraqi dinar) and that is why
Requirements for deposits of dinars or foreign currency must be in dinar currency.

To do this, and for the United States to trade with Iraq, it has to go international, so it has to have a value to trade with the United States, like before 2003, but it's not worth it. say they are going to have the same rate as 2003, but they could according to me, and that is only my personal opinion !!!
It would not surprise me that they start with 1 dinars = 1 American dollar, everyone who is in a hurry will jump in front of their eyes to close !!!

I believe and this is still my personal opinion, that they will start quietly and then resume their old value !!

Why I say this is that the former first Al-Abadi had mentioned in an interview with a journalist, and this news I had on the other forum where I applied before coming to this site, but unable to find this news, since I can't go to this site now !!!

Another example, the director of the central bank also mentioned that the plan to suppress still existed, but he was waiting for the right circumstances to move !!

The project to abolish the 3 zeros should have been done for 2014, but you know the reasons that this was delayed, namely the Islamic State when they attacked Iraq, and especially the city of Mosul at that time !!

I notice from my side, and I mention it once again that it is my personal opinion, that it is the best time to come back to the international level to start now the reconstruction of Iraq, I have always said it (When the construction, goes, everything goes).

It is with reconstruction, and with the private sector that will help their return to the international market, and revive the country, not with oil, but with petroleum derivatives, and as another example, be the construction of the faw port, this will give an opening to the middle east through Iraq !!

Especially to join the Silk Road, it will still help them to get Iraq back on its feet !!

A lot of advantage for them on their return to the international scene, and you know that they are going to have a meeting with the WTO soon, they are going to be delayed by a year, they will meet before the end of this year , they must have a good reason my friend !!!

Good day to all forum members !!


Claud (Moose)


IQD - Iraqi Dinar


Iraq, Dinar


The Iraqi Dinar is the currency of Iraq. Our currency rankings show that the most popular Iraq Dinar exchange rate is the USD to IQD rate . The currency code for Dinars is IQD, and the currency symbol is د.ع. Below, you'll find Iraqi Dinar rates and a currency converter. You can also sign up for our currency newsletters to receive daily rate and analysis, read the XE Currency Blog or view IQD rates anytime through our XE Currency Apps and website.

Notice: IQD may be redenominated.





Most Popular IQD Cross Courses
















USD SAR EUR MYR GBP INR CAD AED TRY/







































[size=30]
35
[/size]
IQD0.000840.003150.000710.003490.000660.061720.001110.003090.00628
Reverse:1190.19317,3851410.00286,5711522.9316.2031903,583324,082159,261
2020-09-13 16:49 UTC
All 





figures are live average market rates , which are not available to consumers and are provided for informational purposes only. To see an estimate of our money transfer rates, please use our money transfer service.


Click on a rate to see its graph.


Currency facts













IQD Statistics
Name: Iraqi Dinar
Symbol: د.ع
Minor unit:
1/1000 = son
Most popular IQD conversion:
USD / IQD
Most popular IQD Chart :
USD / IQD Chart
IQD Profile
Inflation: 0.10%
Parts:
Frequently used: د.ع 25, د.ع 50, د.ع 100
Banknotes:
Frequently used: د.ع 50, د.ع 100, د.ع 250, د.ع 500, د.ع 1000, د.ع 5000, د.ع 10000, د.ع 25000

Central Bank : Central Bank of Iraq
Website: http://www.cbi.iq/
Users: Iraq
Have more info about the Iraqi Dinar?


[email=currencyinfo@xe.com?subject=Currency%20Encyclopedia%20-%20New%20Facts&body=Currency%20Facts%0A%0AI%20would%20like%20to%20contribute%20to%20the%20XE%20Currency%20Encyclopedia.%0AI%20am%20providing%20the%20currency%20facts%20below%20and%20understand%20that%20XE%20will%20publish%20them%20when%20the%20sources%20I%20provide%20have%20been%20confirmed.%0A%0ACurrency%20Code:%20IQD%0ACurrency%20Name:%20Dinar%20irakien%0AExtra%20facts:%0A%0A%0ABy%20sending%20this%20email,%20I%20agree%20to%20comply%20with%20the%20XE%20Terms%20of%20Use.%0A%0Ahttps://www.xe.com/legal/]Contact us by e-mail  [/email]



Amount
Of

Opinion on the subject of dinars !! Usd.static.32a753a23262e7a5de13e84d52ad2e49



USD United States dollar



AT
Opinion on the subject of dinars !! Iqd.static.e047760ff95cc018531946d149236cf2
IQDIraqi dinar





1 USD = 1190.19  IQD

1 IQD = 0.000840200 USD
1 USD = 1,190.19 IQD


Converting Dollar US in Iraqi Dinar

Last update : 2020-09-13 16:45 UTC
Read important information about the IQD .


All figures are live [size=18]average market rates , which are not available to consumers and are provided for informational purposes only.


[/size]


[size=34]The Iraqi Chargé d'Affairs to Geneva meets with the head of the working group on Iraq's accession to the World Trade Organization / WTO[/size]




03/09/2020





Opinion on the subject of dinars !! WhatsApp-Image-2020-08-31-at-10.28.25-AM




The Chargé d'Affairs and Plenipotentiary Minister Dr. Abbas Kazem Obeid met in Geneva the head of the working group on Iraq's accession to the World Trade Organization, Ambassador Omar Hilal / Permanent Representative of the Kingdom of Morocco to the United Nations in New York, in the presence of the Director of the Accession Department at the World Trade Organization, Mrs. Maika Oshikawa and her assistance in The headquarters of the organization, and the two sides exchanged talks about ways to activate the file of Iraq's accession to the organization and the importance of continuing work in completing the technical documents to complete the requirements for joining and overcome the obstacles and challenges facing the accession process. 


In this regard; It was agreed to prepare training programs for members of the national negotiating team, as well as to discuss the importance of setting a new date for the high-level conference on Iraq's accession to the World Trade Organization, which was supposed to be held in Baghdad for the period 26-27 / 11/2019.





https://www.mofa.gov.iq/2020/09/?p=16874




Claud (Moose)


@claud39 wrote:Just so that we understand each other well RamblerNash !!

Is that what you're asking me to go see ???
You have avoided giving the answer several times now, but instead posted article after article trying to explain other issues.

It is just a number. It needs no article, justification, opinion, or other issues brought into that part of the discussion.

I would ask again, but you don't seem to want to have that discussion. That's a shame. It's directly related to the many articles you have posted.

@claud39 wrote:If this is what you mention to me I agree with you, no value, but let's not forget that they are on the secondary market, and not at the level of international trade !!
It doesn't matter what the market is. The Dinar has a value. It's just not one you like, but the CBI is maintaining it's stability.

@claud39 wrote:
To do this, and for the United States to trade with Iraq, it has to go international, so it has to have a value to trade with the United States, like before 2003, but it's not worth it. say they are going to have the same rate as 2003, but they could according to me, and that is only my personal opinion !!!
It would not surprise me that they start with 1 dinars = 1 American dollar, everyone who is in a hurry will jump in front of their eyes to close !!!
That's a fantacy. There isn't a starting point like you describe. If there is, provide the proof from the CBI or GOI that says that.




You have avoided giving the answer several times now, but instead posted article after article trying to explain other issues.

It is just a number. It needs no article, justification, opinion, or other issues brought into that part of the discussion.

I would ask again, but you don't seem to want to have that discussion. That's a shame. It's directly related to the many articles you have posted.









Okay my RamblerNash, you want to be right, I agree with you, you don't want to understand what I mean, and I'm not avoiding the discussion, on the contrary, but that could you mean that I don't understand your question, That doesn't work out very well, since I'm not an economist, and especially since I'm not a guru, and I'm not trying to be right !!!



Now that I have given you my personal opinion, and since I do not want to insult you like now when you try to take me for a colonist on the forum !!



I would ask again, but you don't seem to want to have that discussion. That's a shame. It's directly related to the many articles you have posted.



You know I am like everyone else on the forum, a very ordinary person who follows the news of the country to see the true reality of what is happening in Iraq, I am especially not the news of the gurus !!



Without insulting you, it's your role to share the news of the gurus, and we can see very well that you follow this more than me on this, so continue on that !!



I share the news for fun on your forum, but I really don't have to do that, I don't need the forum to follow the country's news, and I don't have to spend part of the day with you share the real news of the country, the government etc ... if you want to take my place to apply on the forum, you are welcome !!



Me I will start to decrease sharing news, especially you show me that I am wasting my time, then I will share my time on other things, it will take me less time during my day, I would not the need to always translate the news to share on the forum, and seek the reality of the country !!



I am sure you are going to be even better than me in putting up your own truth, I tell you and the members have a nice day !!



 I'm going to go back to my world as you said, and I'm going to do my little news tour for me, and then I'm going to go do my homework, I'm going to focus on that instead of sharing news from Iraq !!!



Have a good week !!!





Claud (Moose)

@claud39 wrote:Okay my RamblerNash, you want to be right, I agree with you, you don't want to understand what I mean, and I'm not avoiding the discussion, on the contrary, but that could you mean that I don't understand your question, That doesn't work out very well, since I'm not an economist, and especially since I'm not a guru, and I'm not trying to be right !!!

Was there a problem with your translation to my questions?


@claud39 wrote:Without insulting you, it's your role to share the news of the gurus, and we can see very well that you follow this more than me on this, so continue on that !!

LOL!! It's not my role to post the nonsense from the Gurus, but without those postings, the news you post doesn't get noticed as much. There is more to the dynamic to the forum then you think, but we have covered that in the past.


@claud39 wrote:I share the news for fun on your forum, but I really don't have to do that, I don't need the forum to follow the country's news, and I don't have to spend part of the day with you share the real news of the country, the government etc ... if you want to take my place to apply on the forum, you are welcome !!

Claud, I post the same articles of the news that you do...Many from the same sources. Ponee was posting the all news, and Guru BS, and asked for some help years ago. Ssmith and I started to do that to give Ponee a break. Since you volunteered to post the news, I didn't see the need to duplicate what you were doing. The news -->IS<-- important, since it debunks the Gurus!



So I take it that you don't have any articles from the CBI, or GOI, that state that there is a starting point and it will be at 1 to 1?

How about a basis from which you formed your opinion on that matter?
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Post by claud39 on Wed Sep 16, 2020 1:31 pm

Happy RamblerNash !! I don't think we understand each other, but we are getting closer to our point of view !!

So I take it that you don't have any articles from the CBI, or GOI, that state that there is a starting point and it will be at 1 to 1?

When I read what you write to me, it's like you think I said that the CBI should go 1 to 1, and that it is the thinking of the central bank to leave at this rate, Is it that I understood correctly ???

Yet each time I share my opinion, I always mention that it is my personal opinion !!

When I mention 1 to 1 it is a personal opinion, but there is one thing that I am sure !!

It is because the project to remove the 3 zeros exists, this should have been done for years, that is to say since 2014 !!

The new currency is made too !!

Al-Abadi has succeeded with the international alliance to withdraw the Islamic state from Iraq, the last prime minister after Al-Abadi has not honored his word since the start of his mandate which has raised the people in month of October 2019.

So the world bank to mention when the new government will be carried out, we will support for the reconstruction, what has happened following the announcement of the new government with the new prime minister, signature between the two, either with the government of iraq, and the world bank.

During Prime Minister AL-Abadi's tenure he mentioned that they wanted the Iraq dinar to recover its old value, and that the Iraq dinar should damage the Middle East, I tried to find this article again, but when I read it I applied it was on another forum, I'm not sure, I think I saw this in the magazine https://www.mawazin.net/ in the year 2017 if I'm not wrong, but not able to find this article in the archives !!

But there is one thing I had to photocopy it for my girlfriend to see this article, and she too could prove it, so when I tell the world around me about this, my girlfriend confirms my saying on the news from the iraq, even my psychologist follows my story on iraq, and I take him some news every 2 weeks to photocopy to follow my sayings during our meeting, and my girlfriend participates with me !!

To make it clear I am a psychologist, not because of the dinars, and for Iraq, it is more because of my accident at the factory almost 14 years ago, and to try to accept it, I have had a lot of problem because of that, and I will finish settling this with the CSST by 2021, imagine you I will be 54 years old at the beginning of January !!


To end, what I mean from the start, when the stability of the country, which is coming slowly, the reforms that must be done, and that the new prime minister pushes more and more on it, and more it is supported by Top Shiite cleric Grand Ayatollah Ali al-Sistani, be the news to be shared by GirlBye !!

We are currently seeing the United States, and other countries for their feedback on international trade, and the meeting will be soon with the WTO !!

What I mean, and I repeat I am not an economist, not a guru !!

For me my question that I ask myself by following this for several years, that is to say before 2003 they had a value, 3.22 $ of the dollar for a dinars if I am not mistaken !!

Then there was the embargo, they are found on chapter 7 of the UN security council, and after a few years they are now out of chapter 7 !!

Since the new one has arrived in office everything is progressing quickly, and support by all, even by the great religious, it is even better for the Prime Minister, and with the meetings that there are more and more with the states- united, currently the dinar has no value on the exchange rate market with the United States, how they are going to trade between them, and the Iraq with other countries without having a value on the exchange rate market. change !!

Say I am a big contractor, I want to participate in the reconstruction with an international engineering firm from our country like SNC-Lavalin, how do I make quotes without knowing how it will cost for my project in Iraq !!

Iraq does not have all the material to provide the reconstruction, they will have to import material that is manufactured either in Canada, and mainly with the United States !!

So are they going to come back as before 2003 with an exchange rate, and again that's my personal opinion, and I'm trying to look at this from a logical side, my answer to me is YES !!

 Is the rate going to go from 1 to 1, I'm not sure, but I wouldn't be surprised either !!

 Will they go up to the top of $ 3.00 / dinar, I wouldn't be surprised either, given that the project to remove the 3 zeros exists, and the former Prime Minister AL-Abadi to mention the project well? of the value they were aiming for the exchange rate with the iraq !!



It's only my image, you don't have to agree with me, I only work with logic since I started looking on the subject of dinars !!


  Have a lovely day everybody !!!


Claud (Moose)
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Post by RamblerNash on Thu Sep 17, 2020 8:42 am

@claud39 wrote:Happy RamblerNash !! I don't think we understand each other, but we are getting closer to our point of view !!

So I take it that you don't have any articles from the CBI, or GOI, that state that there is a starting point and it will be at 1 to 1?

When I read what you write to me, it's like you think I said that the CBI should go 1 to 1, and that it is the thinking of the central bank to leave at this rate, Is it that I understood correctly ???

Yet each time I share my opinion, I always mention that it is my personal opinion !!

When I mention 1 to 1 it is a personal opinion, but there is one thing that I am sure !!

It is because the project to remove the 3 zeros exists, this should have been done for years, that is to say since 2014 !!

The new currency is made too !!

Al-Abadi has succeeded with the international alliance to withdraw the Islamic state from Iraq, the last prime minister after Al-Abadi has not honored his word since the start of his mandate which has raised the people in month of October 2019.

So the world bank to mention when the new government will be carried out, we will support for the reconstruction, what has happened following the announcement of the new government with the new prime minister, signature between the two, either with the government of iraq, and the world bank.

During Prime Minister AL-Abadi's tenure he mentioned that they wanted the Iraq dinar to recover its old value, and that the Iraq dinar should damage the Middle East, I tried to find this article again, but when I read it I applied it was on another forum, I'm not sure, I think I saw this in the magazine https://www.mawazin.net/ in the year 2017 if I'm not wrong, but not able to find this article in the archives !!

But there is one thing I had to photocopy it for my girlfriend to see this article, and she too could prove it, so when I tell the world around me about this, my girlfriend confirms my saying on the news from the iraq, even my psychologist follows my story on iraq, and I take him some news every 2 weeks to photocopy to follow my sayings during our meeting, and my girlfriend participates with me !!

To make it clear I am a psychologist, not because of the dinars, and for Iraq, it is more because of my accident at the factory almost 14 years ago, and to try to accept it, I have had a lot of problem because of that, and I will finish settling this with the CSST by 2021, imagine you I will be 54 years old at the beginning of January !!


To end, what I mean from the start, when the stability of the country, which is coming slowly, the reforms that must be done, and that the new prime minister pushes more and more on it, and more it is supported by Top Shiite cleric Grand Ayatollah Ali al-Sistani, be the news to be shared by GirlBye !!

We are currently seeing the United States, and other countries for their feedback on international trade, and the meeting will be soon with the WTO !!

What I mean, and I repeat I am not an economist, not a guru !!

For me my question that I ask myself by following this for several years, that is to say before 2003 they had a value, 3.22 $ of the dollar for a dinars if I am not mistaken !!

Then there was the embargo, they are found on chapter 7 of the UN security council, and after a few years they are now out of chapter 7 !!

Since the new one has arrived in office everything is progressing quickly, and support by all, even by the great religious, it is even better for the Prime Minister, and with the meetings that there are more and more with the states- united, currently the dinar has no value on the exchange rate market with the United States, how they are going to trade between them, and the Iraq with other countries without having a value on the exchange rate market. change !!

Say I am a big contractor, I want to participate in the reconstruction with an international engineering firm from our country like SNC-Lavalin, how do I make quotes without knowing how it will cost for my project in Iraq !!

Iraq does not have all the material to provide the reconstruction, they will have to import material that is manufactured either in Canada, and mainly with the United States !!

So are they going to come back as before 2003 with an exchange rate, and again that's my personal opinion, and I'm trying to look at this from a logical side, my answer to me is YES !!

 Is the rate going to go from 1 to 1, I'm not sure, but I wouldn't be surprised either !!

 Will they go up to the top of $ 3.00 / dinar, I wouldn't be surprised either, given that the project to remove the 3 zeros exists, and the former Prime Minister AL-Abadi to mention the project well? of the value they were aiming for the exchange rate with the iraq !!



It's only my image, you don't have to agree with me, I only work with logic since I started looking on the subject of dinars !!


  Have a lovely day everybody !!!


Claud (Moose)

@claud39 wrote:Happy RamblerNash !! I don't think we understand each other, but we are getting closer to our point of view !!

I understand your point of view more than you think.



@claud39 wrote:When I read what you write to me, it's like you think I said that the CBI should go 1 to 1, and that it is the thinking of the central bank to leave at this rate, Is it that I understood correctly ???

You referenced it, and highlighted it above in this thread:
@claud39 wrote:
Who determines the exchange rate?
The exchange rate of a currency is: either fixed, in other words constant with respect to a reference currency (generally the US dollar or the euro), by decision of the State which issues this currency. The rate can then only be changed by a devaluation (or revaluation) decision of that State.



@claud39 wrote:It is because the project to remove the 3 zeros exists, this should have been done for years, that is to say since 2014 !!

Talk about removing the zeros has existed since the mid 2000's. More specific references started around 2010.



@claud39 wrote:The new currency is made too !!

Are you now talking about the rate for the new currency at 1 to 1, or the rate to apply to the old currency at 1 to 1?

Be specific to avoid further confusion as to your exact meaning. They have different implications.



@claud39 wrote:
During Prime Minister AL-Abadi's tenure he mentioned that they wanted the Iraq dinar to recover its old value, and that the Iraq dinar should damage the Middle East, I tried to find this article again, but when I read it I applied it was on another forum, I'm not sure, I think I saw this in the magazine https://www.mawazin.net/ in the year 2017 if I'm not wrong, but not able to find this article in the archives !!

During that time, Abadi was talking about returning Iraq to it's former glory, not the currency. You can find the Gurus misinterpretation of that in the Gurus archives.

We also covered some of that 1 1/2 years ago on this thread:

https://www.dinardaily.net/t83142-sam-i-am-and-kaperoni-in-iqdcalls-chat-3-15-19-rapidly-appreciating-exchange-rate#349174

If you want to tie it to the Dinar, then it means what you referenced in the article above regarding monetary reform. de-dollarization.

@claud39 wrote:
The deposit is the basis for the legal reserve requirements, so foreign currency deposits cannot be preferred
And then (the dollarization process) (that is, the dominance of the dollar currency over the Iraqi dinar) and that is why
Requirements for deposits of dinars or foreign currency must be in dinar currency.

You have posted numerous articles on how payments are made on cards, increased ATM's, etc...



@claud39 wrote:What I mean, and I repeat I am not an economist, not a guru !!

Well let's see. You have a bank account (liquidity), a credit card (debt), cash in your pocket (liquidity), a car (asset), mortgage/rent (equity/loan/obligation), some kind of income (revenue), Dinar (investment), and other bills (necessities/obligations).

I'd say that the President of the Bank of Claud is an economist. You make the same decisions (budget) that a government does, but on a smaller scale. The only difference is you don't have a printing press (make currency) or have others involved in the monetary decisions.

Claud -->is<-- an economist! LOL



@claud39 wrote:For me my question that I ask myself by following this for several years, that is to say before 2003 they had a value, 3.22 $ of the dollar for a dinars if I am not mistaken !!

We covered that on the thread:

https://www.dinardaily.net/t83142-sam-i-am-and-kaperoni-in-iqdcalls-chat-3-15-19-rapidly-appreciating-exchange-rate#349262


The dinar is a pegged currency. The value is a ratio of the money supply and reserves. To even have a rate change, one, or the other, goes up or down, or they can make adjustments to control inflation/deflation.



@claud39 wrote:Say I am a big contractor, I want to participate in the reconstruction with an international engineering firm from our country like SNC-Lavalin, how do I make quotes without knowing how it will cost for my project in Iraq !!

Iraq does not have all the material to provide the reconstruction, they will have to import material that is manufactured either in Canada, and mainly with the United States !!

The CBI posts the rate for direct investment. If you are the big contractor, you would have a clause that your estimate is at the current exchange rate.

Of course, that still brings up the issue of IMF rate that Siemens and General Electric were stressing in the article you posted above...
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Opinion on the subject of dinars !! Empty Re: Opinion on the subject of dinars !!

Post by claud39 on Thu Sep 17, 2020 11:07 am

@RamblerNash wrote:
@claud39 wrote:My understanding, and what I read there is maximum 2 years, that is during the last period of Abadi as prime minister, in an article, and he did mention that he wanted the value of the Iraqi dinar to resume its former glory, and I write it almost word for word, and that he wanted the Iraqi dinar to dominate the middle east, ...
[size]


I found that to be an odd statement, so I did a little looking into it. The Gurus would not have passed up that opportunity, and sure enough, they didn't. I found an article posted on a forum that seems to be where it started from.

Here is what they posted:


~~~~~~~~~~



YOTA691




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Posted November 16, 2016
New measures to curb manipulation in hard currency and the elimination of the monopoly speculators .. adviser Abadi's "Zora": the central bank intends to reduce the price of the dollar and inflation is the lowest in half a century

November 14 2016 20:56 |  Number of views: 453

[/size]
Opinion on the subject of dinars !! Economy1.652301-1-300x199
New measures to curb manipulation in hard currency and the elimination of the monopoly speculators .. adviser Abadi's "Zora": the central bank intends to reduce the price of the dollar and inflation is the lowest in half a century
[size]


Zora / Laith Jawad: 
Prime Minister for Financial Affairs Advisor to detect the appearance of Mohammed Saleh , the central bank 's determination to reduce the dollar exchange rate against the dinar by eliminating the monopoly of the dollar operations by some speculators, as explained that inflation in Iraq , not to exceed the 2 percent, the least since 50 years in the history of Iraq, stressed the economic expert Majid picture directed the bank to take new measures to rein in prices of speculative operations. Saleh said in an interview for «Zora»: The Bank operates in two directions, the first reduction of the dollar against the Iraqi dinar, the second direction to stabilize the exchange rate in the country, noting that the rise in the dollar exchange rate caused by speculation by the traders if the exchange rate difference between The bank market of 10 points. Saleh added: that the bank was able to eliminate the monopoly power in those Alasouk or has been able to penetrate through to meet the market needs of hard currency, stressing that the central bank sales and large meet the market 's needs. 
Saleh pointed out that the Iraqi market is dependent on the dollar zones and of East Asian countries that suffer from depression and low prices, explaining that the amount of inflation in Iraq is at least 50 years ago , if a 2% which is very low compared with the countries of the world. Meanwhile , a economist Majid picture in an interview with«Zora»: The general orientation of the central bank is working to restore the Iraqi dinar exchange rate against the dollar to its former glory in collaboration with government banks, indicating that the bank seeks to make way for government banks to carry out sale the dollar put pressure on speculators in the markets. He explained the picture: that the dollar price depends on demand and supply process, which is always exploited by speculators to achieve personal benefits, noting that the bank start new measures to reduce the price of the dollar against the dinar, but this process may take time to reach the desired end. Image stressed that the success of this approach needs to be concerted all government institutions, particularly the border crossing points and in the efforts of all kinds throughout the country and carry out its required role and limit the operations of corruption in addition to the tax.He said economic experts, yesterday, the low price of the dollar against the Iraqi dinar after the central bank to take several measures in collaboration with some private banks, indicating that the decline occurred in the US dollar exchange rate against the Iraqi dinar by almost eight points. He explained: that this decline comes after the Central Bank of Iraq has taken several measures in collaboration with some private Iraqi banks Almltzmh.ahar to the US dollar in the Iraqi market is equal to 1290 Iraqi dinars.


~~~~~~~~~~


Someone else decided to make it more colorful, but included a link. LOL:




Enlarge this image Click to see fullsize
Opinion on the subject of dinars !! Scree273
http://alzawraapaper.com/%D8%A7%D8%AC%D8%B1%D8%A7%D8%A1%D8%A7%D8%AA-%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D9%84%D9%83%D8%A8%D8%AD-%D8%A7%D9%84%D8%AA%D9%84%D8%A7%D8%B9%D8%A8-%D8%A8%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9-%D8%A7%D9%84/

~~~~~~~~~~




Here's the problem. When I translate it, it's completely different:




~~~~~~~~~~


New measures to curb the manipulation of hard currency and eliminate the monopoly of speculators .. Advisor to Abadi to "Al-Isra": The Central Bank intends to reduce the price of the dollar and inflation is the lowest since half a century
November 14, 2016 8:56 PM  Number of views:Author: alzawraapaper
[/size]
Opinion on the subject of dinars !! Economy1.652301-1-300x199
New measures to curb the manipulation of hard currency and eliminate the monopoly of speculators .. Advisor to Abadi to "Al-Isra": The Central Bank intends to reduce the price of the dollar and inflation is the lowest since half a century
[size]

Al-Zawra / Laith Jawad:
The Prime Minister's Advisor for Financial Affairs revealed the appearance of Mohammed Saleh on the intention of the Central Bank to reduce the dollar exchange rate against the dinar by eliminating the dollar monopoly by some speculators, while he explained that inflation in Iraq does not exceed 2%, the lowest since 50 years in the history of Iraq , Stressed the economic expert Majid al-Suri, the bank to take new measures to curb speculative operations at prices. Saleh said in an interview with «Al-Zawra»: The bank is working in two directions, the first reduced the price of the dollar against the Iraqi dinar, and the second trend to work on the stability of the exchange rate in the country, indicating that the rise in dollar prices is due to speculation by traders if the exchange rate difference between The bank and the market has 10 points. Saleh added that the bank was able to eliminate the monopoly power existing in these markets or was able to penetrate through meeting the needs of the market of hard currency, stressing that the sales of the Central Bank is large and meet the needs of the market.
Saleh pointed out that the Iraqi market depends on the regions of the dollar and the countries of East Asia, which suffers from the recession and low prices, explaining that the amount of inflation in Iraq is the lowest in 50 years if it is 2%, which is very few compared with the countries of the world. "The general trend of the Central Bank is to work to restore the exchange rate of the Iraqi dinar against the dollar to the former in collaboration with government banks, noting that the bank seeks to make way for government banks to carry out sales Dollar to press speculators in markets. "The price of the dollar depends on the process of demand and supply, which is always exploited by speculators to achieve personal benefits, noting that the bank to initiate new measures to reduce the dollar against the dinar, but this process may take time to reach the desired goal. Al-Suri stressed that the success of this approach needs to combine all the efforts of governmental institutions, especially border crossings of all kinds and across the country and to do their required role and reduce the corruption, in addition to the tax. Economists confirmed yesterday that the dollar fell against the Iraqi dinar after the central bank took several measures in cooperation with some private banks, pointing out that a decline in the dollar exchange rate against the Iraqi dinar by about eight points. They explained: This decline comes after the Central Bank of Iraq took several measures in cooperation with some Iraqi private banks committed. It is noteworthy that the price of the US dollar in the Iraqi market is worth 1290 Iraqi dinars. Economists confirmed yesterday that the dollar fell against the Iraqi dinar after the central bank took several measures in cooperation with some private banks, pointing out that a decline in the dollar exchange rate against the Iraqi dinar by about eight points. They explained: This decline comes after the Central Bank of Iraq took several measures in cooperation with some Iraqi private banks committed. It is noteworthy that the price of the US dollar in the Iraqi market is worth 1290 Iraqi dinars. Economists confirmed yesterday that the dollar fell against the Iraqi dinar after the central bank took several measures in cooperation with some private banks, pointing out that a decline in the dollar exchange rate against the Iraqi dinar by about eight points. They explained: This decline comes after the Central Bank of Iraq took several measures in cooperation with some Iraqi private banks committed. It is noteworthy that the price of the US dollar in the Iraqi market is worth 1290 Iraqi dinars.



~~~~~~~~~~


As you can see, there is no mention of the words "former glory" and it seems to take on a different meaning.


If this isn't the article that you are talking about, can you post the link you have, even if it's to another forum?
[/size]



It's not the former economic adviser who said that, but Abadi, and if I'm not mistaken, that would be said in a dicourse in Davos on January 23, 2018, and sorry for not to be able to get the news on the other forum. I can not go on the forum, since the administrator banned me from his forum by jealousy, what you see what I do on your forum. I did the same things for them, and because some of the members had too much respect for my work, some of them were removed from the forum because they took too much for my cause, I took too much space on the forum for him, and you know I do not have the taste to try to convince you, I gave you my opinion, every opinion is as good as mine, so we'll see what will happen this year, I wish you a nice day to all !!!




Claud (Moose)





Well I don't want to spend my day convincing anyone on the forum !!

If you tell me about this, look at the remark I marked below, that it was not Prime Minister Al-Abadi's advisor who mentioned this, I am telling you about an article that it is him. - even the former Prime Minister Al-Abadi has to mention what I said !!

We each have our thoughts on this, I don't want the world to take me for a bad guru !!

To be sure not to contaminate your forum with my opinions, and that the world is not mixed up on the situation in Iraq, I let you show your truth by applying on your forum, I will follow you from afar, and to from time to time I will share news that might be relevant !!

When there is a change in the exchange rate, I will definitely get back to you on the subject, now I will let you go on that !!


Claud (Moose)
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Post by RamblerNash on Sat Sep 19, 2020 12:02 am

@claud39 wrote:
@RamblerNash wrote:

@claud39 wrote:My understanding, and what I read there is maximum 2 years, that is during the last period of Abadi as prime minister, in an article, and he did mention that he wanted the value of the Iraqi dinar to resume its former glory, and I write it almost word for word, and that he wanted the Iraqi dinar to dominate the middle east, ...



I found that to be an odd statement, so I did a little looking into it. The Gurus would not have passed up that opportunity, and sure enough, they didn't. I found an article posted on a forum that seems to be where it started from.

Here is what they posted:


~~~~~~~~~~




YOTA691










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Posted November 16, 2016
New measures to curb manipulation in hard currency and the elimination of the monopoly speculators .. adviser Abadi's "Zora": the central bank intends to reduce the price of the dollar and inflation is the lowest in half a century

November 14 2016 20:56 |  Number of views: 453


Opinion on the subject of dinars !! Economy1.652301-1-300x199
New measures to curb manipulation in hard currency and the elimination of the monopoly speculators .. adviser Abadi's "Zora": the central bank intends to reduce the price of the dollar and inflation is the lowest in half a century



Zora / Laith Jawad: 
Prime Minister for Financial Affairs Advisor to detect the appearance of Mohammed Saleh , the central bank 's determination to reduce the dollar exchange rate against the dinar by eliminating the monopoly of the dollar operations by some speculators, as explained that inflation in Iraq , not to exceed the 2 percent, the least since 50 years in the history of Iraq, stressed the economic expert Majid picture directed the bank to take new measures to rein in prices of speculative operations. Saleh said in an interview for «Zora»: The Bank operates in two directions, the first reduction of the dollar against the Iraqi dinar, the second direction to stabilize the exchange rate in the country, noting that the rise in the dollar exchange rate caused by speculation by the traders if the exchange rate difference between The bank market of 10 points. Saleh added: that the bank was able to eliminate the monopoly power in those Alasouk or has been able to penetrate through to meet the market needs of hard currency, stressing that the central bank sales and large meet the market 's needs. 
Saleh pointed out that the Iraqi market is dependent on the dollar zones and of East Asian countries that suffer from depression and low prices, explaining that the amount of inflation in Iraq is at least 50 years ago , if a 2% which is very low compared with the countries of the world. Meanwhile , a economist Majid picture in an interview with«Zora»: The general orientation of the central bank is working to restore the Iraqi dinar exchange rate against the dollar to its former glory in collaboration with government banks, indicating that the bank seeks to make way for government banks to carry out sale the dollar put pressure on speculators in the markets. He explained the picture: that the dollar price depends on demand and supply process, which is always exploited by speculators to achieve personal benefits, noting that the bank start new measures to reduce the price of the dollar against the dinar, but this process may take time to reach the desired end. Image stressed that the success of this approach needs to be concerted all government institutions, particularly the border crossing points and in the efforts of all kinds throughout the country and carry out its required role and limit the operations of corruption in addition to the tax.He said economic experts, yesterday, the low price of the dollar against the Iraqi dinar after the central bank to take several measures in collaboration with some private banks, indicating that the decline occurred in the US dollar exchange rate against the Iraqi dinar by almost eight points. He explained: that this decline comes after the Central Bank of Iraq has taken several measures in collaboration with some private Iraqi banks Almltzmh.ahar to the US dollar in the Iraqi market is equal to 1290 Iraqi dinars.


~~~~~~~~~~


Someone else decided to make it more colorful, but included a link. LOL:




Enlarge this image Click to see fullsize
Opinion on the subject of dinars !! Scree273
http://alzawraapaper.com/%D8%A7%D8%AC%D8%B1%D8%A7%D8%A1%D8%A7%D8%AA-%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D9%84%D9%83%D8%A8%D8%AD-%D8%A7%D9%84%D8%AA%D9%84%D8%A7%D8%B9%D8%A8-%D8%A8%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9-%D8%A7%D9%84/

~~~~~~~~~~




Here's the problem. When I translate it, it's completely different:




~~~~~~~~~~


New measures to curb the manipulation of hard currency and eliminate the monopoly of speculators .. Advisor to Abadi to "Al-Isra": The Central Bank intends to reduce the price of the dollar and inflation is the lowest since half a century
November 14, 2016 8:56 PM  Number of views:Author: alzawraapaper

Opinion on the subject of dinars !! Economy1.652301-1-300x199
New measures to curb the manipulation of hard currency and eliminate the monopoly of speculators .. Advisor to Abadi to "Al-Isra": The Central Bank intends to reduce the price of the dollar and inflation is the lowest since half a century


Al-Zawra / Laith Jawad:
The Prime Minister's Advisor for Financial Affairs revealed the appearance of Mohammed Saleh on the intention of the Central Bank to reduce the dollar exchange rate against the dinar by eliminating the dollar monopoly by some speculators, while he explained that inflation in Iraq does not exceed 2%, the lowest since 50 years in the history of Iraq , Stressed the economic expert Majid al-Suri, the bank to take new measures to curb speculative operations at prices. Saleh said in an interview with «Al-Zawra»: The bank is working in two directions, the first reduced the price of the dollar against the Iraqi dinar, and the second trend to work on the stability of the exchange rate in the country, indicating that the rise in dollar prices is due to speculation by traders if the exchange rate difference between The bank and the market has 10 points. Saleh added that the bank was able to eliminate the monopoly power existing in these markets or was able to penetrate through meeting the needs of the market of hard currency, stressing that the sales of the Central Bank is large and meet the needs of the market.
Saleh pointed out that the Iraqi market depends on the regions of the dollar and the countries of East Asia, which suffers from the recession and low prices, explaining that the amount of inflation in Iraq is the lowest in 50 years if it is 2%, which is very few compared with the countries of the world. "The general trend of the Central Bank is to work to restore the exchange rate of the Iraqi dinar against the dollar to the former in collaboration with government banks, noting that the bank seeks to make way for government banks to carry out sales Dollar to press speculators in markets. "The price of the dollar depends on the process of demand and supply, which is always exploited by speculators to achieve personal benefits, noting that the bank to initiate new measures to reduce the dollar against the dinar, but this process may take time to reach the desired goal. Al-Suri stressed that the success of this approach needs to combine all the efforts of governmental institutions, especially border crossings of all kinds and across the country and to do their required role and reduce the corruption, in addition to the tax. Economists confirmed yesterday that the dollar fell against the Iraqi dinar after the central bank took several measures in cooperation with some private banks, pointing out that a decline in the dollar exchange rate against the Iraqi dinar by about eight points. They explained: This decline comes after the Central Bank of Iraq took several measures in cooperation with some Iraqi private banks committed. It is noteworthy that the price of the US dollar in the Iraqi market is worth 1290 Iraqi dinars. Economists confirmed yesterday that the dollar fell against the Iraqi dinar after the central bank took several measures in cooperation with some private banks, pointing out that a decline in the dollar exchange rate against the Iraqi dinar by about eight points. They explained: This decline comes after the Central Bank of Iraq took several measures in cooperation with some Iraqi private banks committed. It is noteworthy that the price of the US dollar in the Iraqi market is worth 1290 Iraqi dinars. Economists confirmed yesterday that the dollar fell against the Iraqi dinar after the central bank took several measures in cooperation with some private banks, pointing out that a decline in the dollar exchange rate against the Iraqi dinar by about eight points. They explained: This decline comes after the Central Bank of Iraq took several measures in cooperation with some Iraqi private banks committed. It is noteworthy that the price of the US dollar in the Iraqi market is worth 1290 Iraqi dinars.



~~~~~~~~~~


As you can see, there is no mention of the words "former glory" and it seems to take on a different meaning.


If this isn't the article that you are talking about, can you post the link you have, even if it's to another forum?



It's not the former economic adviser who said that, but Abadi, and if I'm not mistaken, that would be said in a dicourse in Davos on January 23, 2018, and sorry for not to be able to get the news on the other forum. I can not go on the forum, since the administrator banned me from his forum by jealousy, what you see what I do on your forum. I did the same things for them, and because some of the members had too much respect for my work, some of them were removed from the forum because they took too much for my cause, I took too much space on the forum for him, and you know I do not have the taste to try to convince you, I gave you my opinion, every opinion is as good as mine, so we'll see what will happen this year, I wish you a nice day to all !!!




Claud (Moose)





Well I don't want to spend my day convincing anyone on the forum !!

If you tell me about this, look at the remark I marked below, that it was not Prime Minister Al-Abadi's advisor who mentioned this, I am telling you about an article that it is him. - even the former Prime Minister Al-Abadi has to mention what I said !!

We each have our thoughts on this, I don't want the world to take me for a bad guru !!

To be sure not to contaminate your forum with my opinions, and that the world is not mixed up on the situation in Iraq, I let you show your truth by applying on your forum, I will follow you from afar, and to from time to time I will share news that might be relevant !!

When there is a change in the exchange rate, I will definitely get back to you on the subject, now I will let you go on that !!


Claud (Moose)

@claud39 wrote:If you tell me about this, look at the remark I marked below, that it was not Prime Minister Al-Abadi's advisor who mentioned this, I am telling you about an article that it is him. - even the former Prime Minister Al-Abadi has to mention what I said !!
The remark you made says Abadi made that statement at Davos in 2018. At that time, Abadi was looking to get $100 Billion from regional investors for reconstruction following the battle of ISIS.

Do you really think Abadi was rattling his sabre about the Dinar that's going to be the most powerful in the region, if not the world?

Wouldn't he just have flipped that switch, announced that start date, make the Dinar 1 to 1, and not ask others for money with his new found wealth?

@claud39 wrote:To be sure not to contaminate your forum with my opinions, and that the world is not mixed up on the situation in Iraq, I let you show your truth by applying on your forum, I will follow you from afar, and to from time to time I will share news that might be relevant !!
I got a kick out of that! "Your truth". You made me laugh Claud!

@claud39 wrote:When there is a change in the exchange rate, I will definitely get back to you on the subject, now I will let you go on that !!
There is no need to get back to me on a rate change. I'm waiting for the day that it is announced that Guru Kaperoni owes Sam I Am a pizza!
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Post by claud39 on Sat Sep 19, 2020 9:40 am

Well my RamblerNash, I'm going to make this clear so that you understand me correctly !!

People like you who try to insult the world who don't agree with you, I call that a mard eater, so keep doing what you do, I don't want to know anything from someone who is looking to disgust the world, and if you would be in front of me it will not be the same thing, believe my word !!

Dear forum member, continue to follow this cabbagehead, since I am resigning to share the news on the forum, and finished giving my personal opinion on this site, a lot of things to do than focus on the site to share real news on Iraq, and especially to be persistent with cabbagehead !!

Looking forward to seeing each other again dear forum members, whether on other dinar forums, or on other sites, since I expect to be barred from this site !!

Have a lovely day everybody !!!


Claud (Moose)
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Post by RamblerNash on Sat Sep 19, 2020 11:35 am

@claud39 wrote:Well my RamblerNash, I'm going to make this clear so that you understand me correctly !!

People like you who try to insult the world who don't agree with you, I call that a mard eater, so keep doing what you do, I don't want to know anything from someone who is looking to disgust the world, and if you would be in front of me it will not be the same thing, believe my word !!

Dear forum member, continue to follow this cabbagehead, since I am resigning to share the news on the forum, and finished giving my personal opinion on this site, a lot of things to do than focus on the site to share real news on Iraq, and especially to be persistent with cabbagehead !!

Looking forward to seeing each other again dear forum members, whether on other dinar forums, or on other sites, since I expect to be barred from this site !!

Have a lovely day everybody !!!


Claud (Moose)
No one is going to ban you for calling me a cabbagehead. LOL

You mentioned that in the years before. It didn't happen then, and it won't happen now.

Those childish ways are done on the other Dinar forums when they want their members to only have one narrative.
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Post by RamblerNash Yesterday at 7:21 am

Good Day Claud!

I'm sure that you didn't miss this article, but it came from an Iraqi economist and not Sam!

She has broken it down in easy to understand terms, and should translate perfectly for you!

~~~~~~~~~~

100 US dollars is equivalent to 100 Iraqi dinars .. Is it possible? An economic expert answers.

Opinion on the subject of dinars !! Scree633

September 17, 2020

Baghdad / Obelisk: The economic expert, Salam Sumaisem, said that the government is now obliged to reduce the value of the Iraqi dinar against the dollar in order to obtain greater quantities of Iraqi money against the dollar without printing more, and thus preserving the currency from collapse.

In an interview with the “obelisk”, Sumaisem said that in the pre-2003 era, the currency was printed without cover and in large quantities, and it was reduced without a balance. Today, it can be reduced with a balance, indicating that this reduction increases the amount of exports because it pays people They import from abroad to the demand for local goods, which will lead to a devaluation of the currency and the demand for it becomes more.

Several countries resorted to writing off zeros of their currency, with the aim of restoring some confidence in the national currency by trying to absorb inflation represented by high prices and the erosion of purchasing value.

Sumaisem indicated that the time is not appropriate to manipulate zeros or the currency because its value will change, and with regard to removing zeros, this requires monetary stability and that was decided during the era of Sinan al-Shabibi administration of the Central Bank.

The economic expert called for improving the status of the dinar so that every 100 dinars would be equal to 100,000 Iraqis, and thus raising the zeros so that every 100 dollars equal to 100 Iraqi dinars, and thus the dinar would be equal to the dollar.

But Sumaisem believes that raising the zeros is not possible at the present time, due to the monetary and economic crisis that Iraq suffers from.

And deleting zeros from the currency is the process of replacing the old currency with a new one whose price is less than the old currency by the number of zeros that will be deleted, for example deleting three zeros from the Iraqi currency means that one dinar from the new currency is equivalent to 1000 dinars from the old currency.

The Iraqi Minister of Finance proposed reducing the price of the Iraqi dinar as a measure to confront the financial crisis, as Sumaisem believes that this proposal will be the closest scenario .. and will prevent compromising the storage in the central bank.


Obelisk

LINK


https://www.dinardaily.net/t95218-100-us-dollars-is-equivalent-to-100-iraqi-dinars-is-it-possible-an-economic-expert-answers
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Post by claud39 Yesterday at 1:12 pm

@RamblerNash wrote:Good Day Claud!

I'm sure that you didn't miss this article, but it came from an Iraqi economist and not Sam!

She has broken it down in easy to understand terms, and should translate perfectly for you!

~~~~~~~~~~

100 US dollars is equivalent to 100 Iraqi dinars .. Is it possible? An economic expert answers.

Opinion on the subject of dinars !! Scree633

September 17, 2020

Baghdad / Obelisk: The economic expert, Salam Sumaisem, said that the government is now obliged to reduce the value of the Iraqi dinar against the dollar in order to obtain greater quantities of Iraqi money against the dollar without printing more, and thus preserving the currency from collapse.

In an interview with the “obelisk”, Sumaisem said that in the pre-2003 era, the currency was printed without cover and in large quantities, and it was reduced without a balance. Today, it can be reduced with a balance, indicating that this reduction increases the amount of exports because it pays people They import from abroad to the demand for local goods, which will lead to a devaluation of the currency and the demand for it becomes more.

Several countries resorted to writing off zeros of their currency, with the aim of restoring some confidence in the national currency by trying to absorb inflation represented by high prices and the erosion of purchasing value.

Sumaisem indicated that the time is not appropriate to manipulate zeros or the currency because its value will change, and with regard to removing zeros, this requires monetary stability and that was decided during the era of Sinan al-Shabibi administration of the Central Bank.

The economic expert called for improving the status of the dinar so that every 100 dinars would be equal to 100,000 Iraqis, and thus raising the zeros so that every 100 dollars equal to 100 Iraqi dinars, and thus the dinar would be equal to the dollar.

But Sumaisem believes that raising the zeros is not possible at the present time, due to the monetary and economic crisis that Iraq suffers from.

And deleting zeros from the currency is the process of replacing the old currency with a new one whose price is less than the old currency by the number of zeros that will be deleted, for example deleting three zeros from the Iraqi currency means that one dinar from the new currency is equivalent to 1000 dinars from the old currency.

The Iraqi Minister of Finance proposed reducing the price of the Iraqi dinar as a measure to confront the financial crisis, as Sumaisem believes that this proposal will be the closest scenario .. and will prevent compromising the storage in the central bank.


Obelisk

LINK


https://www.dinardaily.net/t95218-100-us-dollars-is-equivalent-to-100-iraqi-dinars-is-it-possible-an-economic-expert-answers





This will be my only answer RamblerNash, didn't so much I saw this news, and even a lot more on the news from iraq than you can see in your day, I don't just watch a newspaper from the country, every days I read the news directly to the Iraqi government, and then I do a little tour of several newspapers in the country, lucky that you send the news, not really big research using practically only the following posts:
https: // economy-news.
https://ninanews.com


https://www.dinardaily.net/t95298-khalaf-the-financial-sector-is-required-to-support-the-energy-sector, and this news that I saw it yesterday, looks like you don't go no further in your research !!

At least try to put some good research so that the members of the forum understand the news that you publish !!

To give you a chance I will add a continuation of this news !!

To end it instead of trying to disgust me on the forum focus on the news, and put a little more meat in your news instead of sharing a good part of your news which are gurus !!

Good day to the member of the forum, I notice that it is pleasant to do other things than to persist in giving my opinion, and not to share the news, very boring for you members of the forum, but on the other side, my girlfriend is very happy, especially as I move forward in my business at home !!

Claud (moose)
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Opinion on the subject of dinars !! Empty The Governor of the Central Bank is calling for a formal signature on the issued currency to be followed

Post by claud39 Yesterday at 2:36 pm

[rtl]The Governor of the Central Bank is calling for a formal signature on the issued currency to be followed[/rtl]





9/22/2020





Opinion on the subject of dinars !! Story_img_5f69fadcb4002








[rtl][Baghdad-Where]
The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, called on Tuesday to follow the context of the official signature on the issued currency.
[/rtl]
[rtl]A statement of the bank stated ,. "The Governor of the Central Bank of Iraq, Mustafa Ghaleb, is terrifying. Today, a meeting of the currency affairs committee in this bank was attended by all members."
Mukhaif stressed, "The importance of following the context of the official signature on the exported currency" and not using the signature with the name "that was previously approved by the committee in a previous meeting."
The statement explained: "The committee also discussed a number of issues and took a number of decisions that would contribute to raising and improving the level of currency management."
[/rtl]






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Opinion on the subject of dinars !! Empty Al-Nusayri puts before the government a comprehensive economic reform paper in his new book "Our Economy and the Reform Movement"

Post by claud39 Yesterday at 8:49 pm

You should read this article that you forgot to share my RamblerNash !!

The professor in economics, and very respect in his opinion on the economy, and since I am this economist, he pushes a lot on the side to deprive either banks for example, and SMEs like industry to deprive, the project of government is to push workers to go to the private sector, instead of working for the government, and if you follow the news, then you should know that they want to reform the economic system of the country, and see what the new government is being done, they are following the advice of the economics professor at present !!

By the way when I read your article she is not saying that it will not happen, she is just saying that it is not the time, and that is an opinion like any other !!

Is it the central bank's plan to delay the change in the value of the dinar against the US dollar, ??

 I am not that sure !!

Small return on your article that you sent to me to try to make me sick !!

Sumaisem indicated that now is not a suitable time to manipulate zeros or currency as its value will change, and regarding the removal of zeros, this requires monetary stability and this was decided at the time of the Sinan al-Shabibi administration of the Central Bank.

Look what she says: Now is not a good time to manipulate zeros or currency as its value will change, and as far as removing zeros goes, that requires monetary stability and this was decided at the era of the Sinan al-Shabibi administration of the Central Bank.

So the project exists to remove the 3 zeros !!
How to stabilize the monetary side, with the private sector, and not only with oil !!

The economic expert called for improving the status of the dinar so that every 100 dinars is equal to 100,000 Iraqis, and therefore to raise the zeros so that every 100 dollars is equal to 100 Iraqi dinars, and therefore the dinar is equal to the dollar.

When I read this, it is still the project to suppress the 3 zeros, and why they want to do that, when you trade with other countries, and that the actuaries of each country who work in economics, it was difficult to do the calculations among themselves, easier to do 1 for 1 in the calculations !!


But Sumaisem believes that picking up the zeros is not possible at the moment, due to the monetary and economic crisis in Iraq.

She is not saying that it will not happen, it is not the current moment, but it is not yet 2021, if I am not mistaken !!


If they start reconstruction at the beginning of 2021, it will take a value to negotiate contracts between Iraq, and the other countries !!

And removing zeros from the currency is the process of replacing the old currency with a new one that is priced lower than the old currency by the number of zeros that will be removed, for example removing three zeros from the currency Iraqi means that one dinar of the new currency is equivalent to 1000 dinars of the old currency.

The process of replacing the old currency !!

 You see !! they have already made the new currency, and to make a change you have to go through the street system to be sure about the change of currency

The Iraqi Minister of Finance has proposed to reduce the price of the Iraqi dinar as a measure to deal with the financial crisis, as Sumaisem believes that this proposal will be the closest scenario .. and will avoid compromising storage at the central bank.


 What am I reading !!!

because Sumaisem believes that this proposal will be the closest scenario .. and will avoid compromising storage at the central bank.

So if I understand correctly this is the closest scenario !! Do you think we are coming around 2021 ???


Claud (Moose)





Al-Nusayri puts before the government a comprehensive economic reform paper in his new book "Our Economy and the Reform Movement"






09/20/2020





Opinion on the subject of dinars !! 23144









Economy News - Baghdad



A newly released book by Samir Al-Nusiri, the economic and banking advisor to the Association of Iraqi Private Banks, was recently released in Baghdad, tagged (Our Economy and the Reform Movement 2015-2020).

It is a book that discusses economic and banking reform for years after the economic and security shocks and the global oil price drop after mid-2014 and during the Coronavirus crisis, for which a special chapter is devoted.

Once again, the economic and banking advisor, Samir Al-Nasiri, puts us in front of a new juice based on his experience, experience, and his relentless adaptation of the economic, financial and banking reality, in this book entitled (Our Economy and the Reform Movement 2015-2020).

The chapters of the book are characterized by the multiplicity of dimensions in which the author becomes jealous based on a holistic vision that aims to shape the economic reality on the basis of rules and constants that form the basis for the economic construction, and at the same time as a starting point for amendment, correction and reform to remove obstacles and obstacles, and to formulate consistent and integrated policies in order to achieve the desired goals.

Whereas fiscal and monetary policy are two basic pillars of the economy, the author deals with the two sides within the framework of the symbiosis of roles and policies, as well as the mutual effects between the two policies, which requires permanent coordination between them.

In keeping with the plans of the Central Bank and its strategy for the years (2016-2020), the author details the size of the initiatives and achievements made by the Central Bank of Iraq during the past years in achieving monetary and financial stability and in the institutional reconstruction of the bank to accommodate modern international developments, concepts and standards in all aspects of the bank.

The book deals with what enhances the role of the banking sector in advancing growth and progress by expanding the circle of financial inclusion, applying institutional governance and benefiting from technological progress in developing electronic payment methods.

The book that we have in our hands is a paper of ideas and visions, and it is a careful and careful reading of many phenomena and challenges, and provides solutions and treatments for them in a spirit of optimism, positivity, and a distinct patriotic feeling.

It should be noted that the book includes four chapters and 88 topics, with a number of 340 pages, and two documentary attachments.

The current book is the eighth of the author, and seven books have already been published, all of which discuss economic, financial and banking reform during the past six years, respectively:

(Economic implications in the Arab movement countries and the Iraqi experience in the applications of monetary policy) and (Reform of the banking sector in Iraq challenges and strategy reforms (F) Reforming the banking sector is the first step for economic reforms in Iraq. (F) The methodology of economic and banking reform in Iraq (and) The Central Bank of Iraq facing the challenges of the economic and financial crisis for the years (2015-2017) and (My vision for economic reform in Iraq) and (Light At the end of the tunnel - Economic and Banking Insights and Studies) and it was printed in two editions in Baghdad and Beirut by the Union of Arab Banks, and it is deposited and preserved in the Library and Archives in Baghdad.





https://economy-news.net/content.php?id=21916
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Opinion on the subject of dinars !! Empty Re: Opinion on the subject of dinars !!

Post by claud39 Yesterday at 10:11 pm

Sorry I forgot to mention this to you !!

If you follow the economic news on Iraq, you should know that the new currency of Iraq is considered the best currency against corruption, especially before the old currency which was easy to print for corruption, with the new one. currency and with international standards the new Iraqi currency is currently considered as the best currency to avoid counterfeiting for corruption !!

I'm sure you must know this !!!

Now Good evening everyone, and really tired of persisting and giving my opinion, the more we advance on this discussion, the less I want to share the news of the country !!

I share my opinion only for the members of the forum to give a contrary opinion of yours, period !!


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