Iraqi monetary system enhanced the currency of a new dinars

Monday, October 31.2016

Mohammed Riad HamzaIt is unacceptable to keep the Iraqi dinar exchange rate against the US dollar and the currencies of industrialized capitalist countries and neighboring Arab countries is in the thousands. Valencod Iraqi dinar paper of the highest categories opens with four zeros paper … the fifty thousand to 250 dinars a minimum.  
The reality of the dinar current trading segments of confusing disabled economic, commercial and service activities for all. For the Iraqi market , the level of the reality of the dinar in the evaluation of trade operations, and a single sentence, is far from accurate price, as well as in the evaluation of real estate , buying and selling and lease, and banking facilities, and any trading assesses currency. Any deal large amounts of both ends need to fill categories of dinar bags for exchange between the seller and the buyer .oimkn see scenes of people carrying bags of dinar entrants to the banks or exchange houses or coming out of it.  

And make sure that the reality of the Iraqi dinar and Dialh value segments purchasing a catalyst for the crimes of counterfeiting. In countries where equal their exchange rate with the Iraqi currency Mbtalat rigging the currency, and the counterfeit currency from the devastating effects on inter macroeconomic components of any State. 

And the dinar Iraqi Rolling currently Bocefarh and Dialh value cashed important role in the rise of goods and services and rising inflation rates. As transactions in the wholesale exclude small – value segments of the dinar. The addition of a few thousand dinars to deal Consumer goods , or long – lived, and circulation of marketing to another port and into the hands of consumers, the price of the commodity Tuwalia ballooning number of marketing outlets. The reason is Dialh purchasing power of the categories of small dinar that are excluded when evaluating the price of any commodity.  

On 27 August 2015 published (unit of economic studies links for Research and Strategic Studies Center) in his position on the Internet an important article included a reference to “that the Iraqi government may resort to editing dinar any (floated) something that will not solve the financial problem in the country, but would have a disastrous impact on the Iraqi citizen first class. on the other hand, the flotation is the port for speculators in the market to carry out money laundering and manipulation auction currency within the central bank. float currency Floating means Leave a currency floating rising exchange rate and declining reverse proportion to the cases of demand and supply in the market. and taking into account the level of emancipation of the national economy, and the adequacy of its performance, and flexibility of its production apparatus. It is the risk of this process as open the door to money laundering and diversion of corrupt money from the Iraqi dinar to currencies Free to smuggle them out. ” the 

survival of the purchasing power of the Iraqi dinar is weak seesaw at home and abroad are not supported with rampant financial corruption, the dinar conversion into other currencies smuggled abroad cause higher inflation. As to keep large amounts of Iraqi dinar in the market means inflation liquidity which makes it easier out more foreign currency from the country. The 

solution is not to delete zeros or dinar floated, but substituting new Iraqi dinars and to link the rate of exchange in US dollars. Be issued any new Iraqi dinars equivalent to the dollar in the exchange rate of the dinar .oatkon per hundred fils and groups: one dinar, five dinars and ten dinars, and twenty dinars, and fifty dinars, and one hundred dinars. Minting coins from fils and five fils, ten fils fils twenty, and fifty fils, and one hundred fils. Thereby ensuring the stability of the monetary system and the elimination of the imbalance in the current system , which has allowed widespread corruption.  

As has been the abolition of the currency of the former regime after 2003 and replacing rolling dinar now, the current cancellation over a period of time and bring new dinar. 

It is important that the Iraqi Central Bank assisted by experts from the “Council Federal reserve , ” the US central bank in the Iraqi monetary system , the development of the currency enjoys the trust of the exchange of high locally and internationally. 

Central banks play a major role in financial instruments control in all countries of the world, the most important tool in the hands of the Central Bank is the monetary policy, it is through an increase in cash flow (Liquidity) can stimulate the economy out of the state of economic crisis, or to help the economy grow by encouraging exports, reducing inflation 

the currency peg of the Iraqi dinar in US dollars means installing currency dinar price of a fixed exchange rate (fixed exchange-rate) and much of the world this practice is based. There are 17 countries in the world have linked its currency to the US dollar. Including six Arab countries , namely Saudi Arabia, Jordan, Oman, the UAE, Bahrain and Qatar.  

To link the Iraqi dinar to the dollar has several advantages the most important of the ease of exchange rate policy between the currency of the country and the rest of the world currencies all, where monetary authorities determine the rate specified for the disbursement of the dinar to the dollar, through which the determined relationship management the rest of the dinar currency, goes up for these currencies with the rising dollar and decreases with Ankhvadh.mn other hand, the dollar peg helps relatively protect the national economy from inflation as 

well as help link in the case of oil -producing countries to stabilize their revenues in local currency when the devaluation of the dollar. Vpferd the stability of the oil price decline, the global value of the dollar does not lead to a decline in oil revenues of Iraq Dinars. 

It will be issuing new Iraqi dinars a way to expose corruption as it requires replacement traded currency is the new currency. At that expose shelve those billions and billions of the current Iraqi dinar and act in the framework of the weak monetary system and politicized the farthest thing from transparency. As can be the Iraqi Central Bank and commercial banks had placed before the deal could expose any abuses , money laundering and smuggling of the Popular currency abroad.  

The main reason behind the dollar peg is to maintain stability and increased confidence to deal with, and maintain a fixed exchange rate of the dinar rate would eliminate the so – called parallel market vowels (black market). This reinforces the confidence of investors and the stability of the monetary system and to maintain the purchasing power of consumers with limited income.

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The Latest: Iraq premier urges IS in Mosul to surrender

 

Posted: Oct 31, 2016 5:09 AM CDTUpdated: Oct 31, 2016 11:49 AM CDT

BAZWAYA, Iraq (AP) – The Latest on developments in Iraq, where the offensive to take the city of Mosul from the Islamic State group is now in its third week (all times local):

7:15 p.m.

Iraqi Prime Minister Haider al-Abadi has appeared on state television, wearing combat fatigues and urging Islamic State group fighters in Mosul to surrender.

He says, “we will close in on Daesh from all angles and God willing, we will cut the snake’s head.” He used the Arabic acronym for the group. He spoke from the town of Shura, south of Mosul, where he was visiting troops on Monday.

Al-Abadi says IS “will have no way out, and no way to escape,” urging the fighters to give up as the Iraqi military stands poised to enter the city. He adds that “either they die, or surrender.”

___

4:30 p.m.

The Iraqi military says its troops have taken control of the last village to the east of the Islamic State-held city of Mosul.

Brig. Gen. Haider Fadhil says the military has taken control of the village of Bazwaya, and special forces are now positioned less than a mile from Mosul’s city limits and its eastern neighborhood of Gogjali. That puts the special forces units about five miles from Mosul’s city center.

Fadhil says his forces had destroyed three suicide car bombers who had attempted to attack them during the day, adding that the troops plan to enter the city “soon” and liberate it.

For two weeks, Iraqi forces and their Kurdish allies, Sunni tribesmen and Shiite militias have been converging on Mosul from multiple directions to drive IS from Iraq’s second largest city.

___

1:50 p.m.

An Iraqi officer in Bazwaya, the last village east of Mosul, says residents have hung up white flags on buildings and from windows in a sign they would not resist special forces troops entering to drive out Islamic State fighters.

Maj. Salam al-Obeidi says troops are asking the villagers to stay inside their homes as the Iraqi forces move through the streets. It’s a precaution against potential suicide bombers, a common IS tactic.

Meanwhile, Iraqi Prime Minister Haider al-Abadi announced on his website that he would be visiting troops near the front line.

___

1 p.m.

Iraqi special forces have entered the last village to the east of Mosul’s city limits, clearing a path toward the city that was followed by army units.

Armored vehicles, including Abrams tanks, drew mortar and small arms fire as they moved on the village of Bazwaya in the dawn assault on Monday, while allied artillery and airstrikes hit IS positions.

The army says its ninth division had moved up toward Mosul and was now approximately three miles from its eastern outskirts.

At one point, a Humvee packed with explosives raced ahead in attempt to ram the forces, but Iraqi troops opened fire on it, setting off the charge and blowing up the vehicle. Plumes of smoke rose in the air from IS positions hit by artillery and airstrikes.

State television described the operation as a “battle of honor” to liberate the city, which was captured by IS in 2014. It said troops were advancing on the city from three axes.

___

9:50 a.m.

Iraqi special forces are advancing on the Islamic State-held city of Mosul from the east under heavy fire, inching closer to the city’s limits.

Brig. Gen. Haider Fadhil says car bombers are trying to stop the advance, but that his troops aim to enter Mosul’s eastern outskirts today and that they’re just 3 kilometers (2 miles) from that position now.

The Monday dawn assault saw armored vehicles, including Abrams tanks, move on the suburb of Bazwaya as allied artillery and airstrikes hit IS positions, drawing mortar and small arms fire.

For two weeks, Iraqi forces and their Kurdish allies, Sunni tribesmen and Shiite militias have been converging on Mosul from all directions to drive IS from Iraq’s second largest city.

The operation is expected to take weeks, if not months.

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

http://www.crossroadstoday.com/story/33518907/the-latest-iraq-premier-urges-is-in-mosul-to-surrender

Imam Sistani’s office announce next Wednesday, the first day of the month of Safar goodness

 

History of edits:: 31.10.2016 18:3845 visits readable
{Najaf: Euphrates News} announced the supreme religious authority Sayyed Ali Sistani’s office {} long live next Wednesday the first day of the month of Safar goodness.
The office said in a statement the agency {Euphrates News} received a copy of it today that “on Tuesday is supplementing Chehrmahram Sacred and on Wednesday 2-11-2016m {} is the first of the month of Safar goodness for the year 1438 Hijri.” En]

The Finance made a surprise visit to the Iraqi Central Bank and meet with officials from the auction currency

 

31-10-2016 02:44 PM
The Finance Committee, in a surprise visit to the Iraqi Central Bank to assess the repercussions of the rise in the dollar exchange rate against the dinar

The Committee met under the chairmanship of MP Mohammed Halbusi with the Governor of the Central Bank on the Keywords and those responsible for the auction sale of foreign currency in order to determine the mechanisms of the dollar’s exchange rate against the dinar and the development of practical solutions to tackle the crisis and ways to revive the industrial, agricultural and commercial sector

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Parliament resumes tomorrow its reading of the vote and a number of draft laws

 

History of edits:: 31.10.2016 15:3750 visits readable
[Oan- Baghdad]
the House of Representatives resumes, on Tuesday, its reading of the vote and a number of draft laws.
And it includes the agenda of the meeting “vote on the draft Drugs and Psychotropic Substances Act, and the vote on the draft law amending the decree passport filter atomic endowment No. 1 of 1955, and vote on the draft of the Iraqi National Paralympic Committee Act.” It
also includes “Presentation of the report and discuss the draft protection of witnesses and experts and informers Law and victims, and report and discuss the draft law on ratification financial agreement relating to a loan of the World Bank submitted to the signatories of the Republic of Iraq Law dated 03.02.2014. ”
It would” report and discuss the draft law on ratification documents Bucharest Conference on the Law for the year 2004 attached to universal postal Convention, the first reading of the draft rights of Turkmen law “tomorrow on the agenda of the meeting.

http://www.alliraqnews.com/modules/news/article.php?storyid=51802