Reports throughout today....
Hundreds of ISIS fighters surrendered to Iraqi forces.
Announced earlier today: Article 140 is to be activated upon liberation of Mosul.
Recently: Technical preparations to delete the zeros is now in process.
CNN broadcast a "Return to Mosul" segment showing TV crews leaving in November under fire and returning in January after declarations of safety. Hmmmm, safe in January? Is this special report all too revealing or somewhat misleading when it comes to liberation? Time will tell.
Here's one article to go with all that was stated in the update
Director of the Department version of the Central Bank (range): printed currency volume exceeded 11 billion and 600 million dinars
Director of Issuance Department of the Central Bank of (Mada): The size of the printed currency exceeded 11 billion and 600 million dinars
2017/04/08
Baghdad / Zahraa al-Jassim
Perhaps most of the steps of the Central Bank of Iraq are subject to the political and legal environment of the country, especially with regard to the deletion of the zeros,
which were considered specialists in the earlier direction of a sensitive and dangerous, but remains the central institution most important in terms of the need to control
financial management in light of the financial crisis suffocating the Iraqi economy, which must have to deal with dilemmas, whether with regard to the citizen or the work
of the central bank itself.
Questions concerning the important files put forward by the (range) in this meeting on the director of the Department of Issuance and Treasury at the Central Bank
Abdul-Abbas Khalaf, and with being answered in a brief manner, he pointed to the most important points that showed the size of the currency is not valid for circulation
deposited with the Central has exceeded one billion and a quarter million dinars Which is not a small amount if it is compensated from the banknotes stored in the bank
as some believe, and at a time between the size of the printed currency exceeded the "11 billion and 600 million dinars, urged citizens not to keep large amounts of homes or
buried in the ground , The fact that the process of replacement in the case of knowledge "The rate of counterfeit currency is still within the internationally accepted limits,
with the central bank trying to launch an information campaign to educate the public on how to distinguish between the original and counterfeit currency," Khalaf said.
Asked about the possibility of higher issues (50000) ) Dinar?
- There is no intention at the present time to issue a class higher than the class (50000) dinars.
* What about the subject of deleting zeros and why the delay?
- The decision on the deletion of zeros can not be taken in isolation from the political and legal environment existing in the country under the security conditions prevailing
as a result of terrorist acts and the exit of a number of provinces outside the control of the State for the years 2014, 2015, 2016, which certainly leads to delay in
the implementation of this project in addition to This should be done in coordination with all State departments and the private sector. It should be followed by changing
the clauses in the various laws which include a reference to the payment of fees or fines in lump sums, and changing the financial and statistical records in order to comply
with the zeros deletion project. On the other hand, technical preparations are underway.
* How much is the replacement and replacement cost of the damaged currency?
First, there is no substitute for a damaged one annually. Instead, the bank seeks to issue new securities with advanced security specifications. Therefore, the cost is reduce
d in this way. The cost of issuing new banknotes with better specifications is used to replace the damaged currency from previous editions .
We are seeking an information campaign to distinguish between the original and counterfeit currency
* How much is the finder's counterfeit currency?
- The Central Bank of Iraq resorted to the use of sophisticated counting and sorting machines that can detect the counterfeit currency, in addition to directing banks using
modern techniques in the examination of the currency, but the problem is that the shopkeepers did not make sufficient efforts to use machines to examine the currency,
media to sensitize the public on how to distinguish between the original currency and counterfeit currency by issuing a booklet definitions and (posters) for this purpose
and will be distributed to banks in major shopping malls, and in all cases, the counterfeit currency rate is still within the internationally accepted borders, where even T
ratio (0.000025) (Twenty-five million paper sheet).
* What currency damaged by fire or poor storage of citizens compensation mechanisms?
- While we hope that citizens do not keep large amounts of houses or bury them in the ground, and instead put them in banks, as the process of replacing the burned or
damaged currency cost the central bank financial burdens and administrative cost is not justified, however The bank receives citizens whose savings are exposed in the
Iraqi currency for fire accidents provided that they are documented by the Civil Defense Department and that their source is legitimate. As for the (buried) currency, the
sources of these funds are limited. Entebbe The Iraqi currency and that this bank does not receive any commission for its replacement.
We applied security methods with modern sophisticated technologies to count and sort the currency
What are the future central bank plans for the currency and printing?
- The Central Bank of Iraq seeks to keep abreast of the development in the printing of currency and modern technologies, both in the printing currency or in counting
devices and sorting the currency where it is constantly adding new security specifications in addition to the acquisition of sophisticated machines to count and sort the
currency, and was permanently dispensed with the process of manual counting and sorting.
How much is the size of the torn currency and how much is the printed currency?
- The number of non-negotiable banknotes deposited with this bank (1,277,049,543) was banknotes of various categories, which were compensated by the banknotes
stored in this bank. The number of banknotes printed was 11,615,265,154 banknotes of various categories.
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