Director of the Issuance Department of the Central Bank: Printed currency volume exceeds 11 billion and 600 million dinars
Most of the Iraqi Central Bank steps are subject to political and legal environment of the country , especially in regard to the deletion of zeros that counted specialists in the earlier trend sensitive and dangerous may still be , but the central remains the most important institution in terms of the need to adjust the financial management in light of the financial crisis experienced by the 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 important files posed (range) in this meeting , the director of the release and the Treasury in the Central Bank Aa’bas behind, and with being answered by briefly he pointed out the most important points that showed that the currency is good for circulation deposited Central has exceeded one billion and a quarter of a million dinars an amount that is not a little if they were compensated by the stored banknotes at the bank , as some believe, at the time between the printed currency size has exceeded the “11 billion and 600 million dinars, he urged citizens on the need not to keep large amounts in homes or buried in the ground , the fact that the process of replacing in the event expose Dt to burn or damage costs the central administrative and financial burdens, stressing that the counterfeit currency rate is still within the internationally accepted borders, with the central quest to carry out an information campaign to educate the public on how to distinguish between the original currency and Almzorh.oicol behind on a question about the possibility of having higher versions of a class (50000 ) dinars?
– No at present intention to issue a higher class category (50000) dinars.
* What about the subject of the deletion of zeros and the reason for the delay?
– the decision on the deletion of zeros cannot be taken in isolation from the political and legal environment in the country under conditions the security situation as a result of terrorist acts and exit from the provinces outside the control of the state for the years 2014, 2015, 2016 which prevents certainly to wait in the implementation of this project, in addition to that this must be done in coordination with all state departments and the private sector, where it should be followed by changing the paragraphs contained in the various laws, which include a reference to fines or lump – sum collection of fees, must also change the financial and statistical records in order to conform with the project process the deletion of zeros. On the other hand, the technical preparations are underway by us.
* How is the cost of the annual replacement and replacement of damaged currency?
– First , there is no substitution instead of a damaged annually, as the bank instead seeks to issue new papers for security specifications developed, so the cost is reduced in this way it is the cost of issuing new banknotes specifications better used at the same time damaged to the replacement of currency from the previous editions .
We seek to carry out an information campaign to distinguish between original and counterfeit currency
* How discovered the counterfeit currency of the size?
– The Central Bank of Iraq resorted to the use of machines to sophisticated counting and sorting which can detect counterfeit currency, in addition to banks guide using modern techniques in the currency examination, but the problem is not doing shopkeepers enough efforts to use the machines to check the currency, as the bank seeks to campaign 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 the citizens do not keep large amounts in homes or buried in the ground, and to do instead in the deposit with the banks, as the replacement of the burnt currency process or damaged it costs the central bank financial burdens and administrative Colva unwarranted, however the bank is to receive citizens whose savings in Iraqi currency to fire accidents provided that they are documented by the civil Defense Department and be sourced from the project, either in terms of currency (buried) are sufficiency statement on the sources of these funds, and in this regard we call on citizens not to accept the mediation of any hand to Astb The Iraqi currency and that this bank does not receive any commission for its replacement.
We applied security methods with modern technology advanced counting and sorting currency
* What future plans for the central bank currency and print?
– Iraqi Central Bank seeks to keep pace with the evolution of printing currency and modern technologies both in currency printing or counting devices and sorting the currency where they are constantly adding new security features in addition to the acquisition of advanced machines counting and sorting currency, was dispensed with final counting and manual screening process.
* How much is the size of the torn currency and how much of the size of the printed currency?
– The number of banknotes unfit for circulation deposited with this bank (1,277,049,543) cash paper of various categories, where they are compensated from the stored banknotes have this bank, as the number of printed banknotes (11,615,265,154) cash paper of various categories.
Read More: http://www.dinarupdates.com/showthread.php?48060-Dir-of-the-Issuance-Dept-of-the-Central-Bank-(range)-Printed-currency-11-Billion&p=171964#post171964
___________________________________________________________
“Flash Cast LIVE” session Sunday w/BGG
Click here for Video Replay
___________________________________________________________
___________________________________________________________
Once again. Congressional delegation meets balgbori in the presence of us Ambassador
Salim Al-Juburi, head of the Parliament Monday, that Iraq sought to open new horizons of relations with Arab and regional surroundings contribute to activate economic and regional security aspect. This came during a meeting with a us Congressional delegation.
Media Office said in a statement received llgbori/balance of news copy, that “the US Congressional delegation greeted jaburi Ambassador Douglas Silliman.
The statement added that “the entire Congressional delegation discussed with both security and political situation and Iraq’s war against terrorism, adding to the importance of continuing international support both relief and humanitarian or military.”
Jabouri emphasized, it said, “the importance of supporting displaced people and the reconstruction of their areas, being one of the most important steps leading up to the stability of post-ISIS”, noting that “community reconciliation project contribute to peace community and increases the bonds of national cohesion.”
And the speaker of Parliament, to “assist Iraq in opening new horizons of relations with Arab and regional surroundings are important and necessary, and that it will contribute to activating economic and regional security aspect of the central role of Iraq can play an important role in the fight against terrorist organizations.”
He said that “the next stage requires all international support and create political stability and community atmosphere which reflected positively on the lives of citizens in the country.”
For his part, the U.S. delegation pledged, “the United States continued to support the Iraqi people in all files, especially in post ISIS.”
Referred to House speaker discuss Sunday 9 April 2017, with important files Congressional delegation of Iraqi and international levels
Read more: http://www.dinarupdates.com/showthread.php?48084-Once-again-Congressional-delegation-meets-balgbori-in-the-presence-of-us-Ambassador
_______________________________________________________
Follow us on twitter @DinarUpdates !!
Dinar Updates – “NEWS TIME” w/MadDScout & Facebook Crew – April 13th 6:30pm CST – In the DU CHAT Room!!
www.DinarUpdates.com – save as favorite
___________________________________________________________
The Egyptian Government agrees to buy Iraqi crude
Tarek, Egyptian oil Minister, said the Government agreed to buy Iraqi oil, 1 million barrels in the month by 12 million barrels per year.
He said, during a press conference at the headquarters of the Council of Ministers, that this is the first contract between Egypt and Iraq to buy raw, especially good species Basra ore he will sign the final agreement in the next few days. To be signed between the Egyptian oil Ministry and Iraqi counterparts.
It was supposed that the agreement enters into force early this year, but the mysterious reasons prevented that.
Egypt and Iraq signed the agreement in 2016, subject to discussion again while visiting Egyptian oil Minister, Tariq, to Baghdad at the end of last October.
Egypt believes that the agreement if activated, in the interest of the two countries, because it will cover the needs of the Iraqi side of the petroleum products, especially as Egypt has a high potential for refining the ore Basra, in addition to providing raw you want to Cairo.
Read More: http://www.dinarupdates.com/showthread.php?48090-The-Egyptian-Government-agrees-to-buy-Iraqi-crude
____________________________________________________________
A Dinar Updates “FaceBook Live”!!
“LIVE Q&A with BGG”
From – Apr 7th
In the DU FaceBook Group!!
https://www.facebook.com/groups/571383766355188/
____________________________________________________________
Hims to {Morning}: TBI achieves the objectives of the reformist government
Baghdad / Farah Al-Khafaf In line with the directions of reforming the Iraqi economy through the development and strengthening of the productive sectors and the financial sector and banks, the Director General of the Iraqi Bank for Trade Faisal Al-Hims to continue to achieve the objectives of the government through the introduction of new tools and products to achieve financial liquidity to rotate the economy.
The Iraqi Trade Bank (TBI), the producer of “Tstahl” for the first time in Iraq, to encourage citizens to deposit and savings in the correct ways followed by the world, to keep money from theft and loss in homes, as well as the entry of this money the economic cycle in the country, Achieving sustainable development in the medium and long term.
Products and support tools
“The Iraqi Trade Bank is working to strengthen competition in the banking sector and to introduce new tools and support products to this sector that will strengthen its strength in the country and give a positive image to the international community,” he said in a statement.
The Director-General of this product promised a new idea stimulated the citizen to deposit his money in the bank and the possibility of withdrawing at any time desired, especially as the objectives of the Bank is the credibility, transparency and mutual trust, indicating that this product is the beginning of the way to open new horizons with citizens to seek to be The Iraqi Bank of Trade (TBI) has the first to introduce such products, which do not contradict the requirements and instructions of the Central Bank.
Expand the trust network
Al-Homs advised his bank to offer products and instruments similar to the TISLAH (Tasahl) product, which is aimed at owners who own a commercial and non-residential property.
He pointed out that these products and services are aimed at the local beneficiary and help to expand the network of trust between the public and the bank.
He pointed to the competition of other banks in the same direction and trying to provide products and services similar to the services of (TBI), returned a positive and healthy, will be reflected on the banking sector and the Iraqi economy in general, especially as Iraq is a large country with wealth and density of large population, And the banking sector, through the development of services and providing the best to the customer.
The idea of the product (Tstahl) that the citizen to deposit 500 thousand dinars to enter in three withdrawals carried out by the bank in a transparent and supervised by the Central Bank, the value of the monthly award of 10 million dinars for certificates passed by 15 days, and 40 million dinars for certificates passed by the issuance 90 days, to enter into a semi-annual draw, or the annual withdrawal of the large value of 100 million dinars for certificates passed 180 days.
Objectives of economic reforms
The Director General said that the Bank conducted a questionnaire to the extent of accepting a worthy idea before it was put on the market, and recorded positive results. However, the public turnout exceeded the results of the questionnaire and expectations, in response to the desire of the citizen to experience new banking products after the bank has strengthened public confidence in it, They want to hoard money in the houses and deposit them in the bank, and this is consistent with the objectives of the government within the framework of economic reforms.
The Iraqi Trade Bank has achieved the amount of 3 billion and a half billion dinars of the participation of about 7,000 holders of the certificate of deposit (Tstahl), according to Hymes, pointing out that the purpose of the new products to provide liquidity and investment to enter the economic cycle, thus moving the wheel of economy in the country, Filing does not bear the payment of added interest.
As for the product (opportunity), the general manager concluded that it is a loan for commercial real estate owners exclusively, the method of granting and repayment depends on the value of the income from the commercial property is similar to commercial financing, which depends on the profitability of the company, which is the source of payment, Depends on future cash flows instead of collateral, indicating that this product is awaiting the approval of the Central Bank, which is considered the main support for banks in the country.
Read more: http://www.dinarupdates.com/showthread.php?48076-Hims-to-Sabah-TBI-achieves-the-objectives-of-the-reformist-government
____________________________________________________________
“Example is not the main thing in influencing other people; it’s the only thing.” – Abraham Lincoln
____________________________________________________________
BGG (Dinar Guru) – – The BIGGEST article of the day… “Director of the Issuance Department of the Central Bank: Printed currency volume exceeds 11 billion and 600 million dinars” (the title is a little weak for the content of the article)…the title should have read RV- RV- RV!! Quote: “Most of the Iraqi Central Bank steps are subject to political and legal environment of the country, especially in regard to the deletion of zeros…” …this is what you are after – EXACTLY. PERIOD. it’s isn’t a removing of the 000 from the notes…it isn’t a changing of the DECIMAL POINT…it isn’t a change in the nominal value…IT’S A CHANGING OF THE REAL VALUE and A BRINGING IN OF THE BIG NOTES… “…deleting the big 000 notes from the market place” = RV. [post 1 of 2….stay tuned]
Read More: http://www.dinarupdates.com/observer/
____________________________________________________________
BGG (Dinar Guru) – …they have no intent on bringing out any bigger note classes – THEY DON’T NEED IT… value is going the other way…nowhere in there does it mention Article 140 – HCL – or anything else… nor does it bother to mention any laws needing passed… just a few changes. (aka – AMENDMENTS) [Also key phrase is “where it should be FOLLOWED by” Meaning the laws should be changed AFTER.] BINGO! money first – laws AFTER! why? They need to get this done now! This is about as much heads up as they are willing to give anyone…if they change the laws ahead of time – EVERYONE WILL KNOW. BIGGEST PIECE YET…here it comes… “On the other hand, the technical preparations are underway by us.” Meaning – on the other side of everything he’s said so far… they are and have been already making technical preparations (by the CBI). Pretty plain – if you ask me…pretty huge news... [post 2 of 2]
Read More: http://www.dinarupdates.com/observer/
Click this link to join the DU “private” FaceBook Group…
https://www.facebook.com/groups/571383766355188/
(go here and ask to join… then add some Dinar Friends!!)
Read More: http://www.dinarupdates.com/observer/
Oil rises above $ 55 a barrel
Bertha News Agency Crude oil continued to rise above $ 55 a barrel on Monday, supported by a new closure of Libya’s largest fields and heightened tension over Syria after the US missile attack.
A Libyan oil source said the spark field was closed on Sunday after it disrupted a pipeline group linking it to the oil refinery. Work resumed in the field in early April after a week-long break.
“The sudden and repeated halt in production is still a source of support for oil prices,” said Carsten Frech of Commerzbank.
London Brent crude rose 42 cents to $ 55.66 a barrel by 0840 GMT, while US crude was up 33 cents at $ 52.57 a barrel.
Oil has also risen as tensions mount in the Middle East, which pumps more than a quarter of world oil production. Crude rose last week after the United States fired rockets at an air base of the Syrian government.
The spark field was closed for a week until April 2. OPEC member Libya has pumped a tiny share of its production capacity because of conflict and unrest a year ago
Read more: http://www.dinarupdates.com/showthread.php?48086-Oil-rises-above-55-a-barrel
Iraqi Dinar/Dollar auction 04-10-17 (most recent listing)
Currency Auctions Announcement No. 3419
This daily currency auction was held in the Central Bank of Iraq on the 04-10-2017
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 35 |
| Number of remittance companies | 11 |
| Auction price selling dinar / US$ | —– |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 160,039,952 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 160,039,952 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/observer/
Regarding the D.U.C.E. List e-mails –
If you are not receiving D.U.C.E. messages, it’s possible the receiving mail server is blocking or filtering the message before it’s delivered to your inbox. One solution is to whitelist our domain and IP ranges so that the server will allow messages through the block.
Below is our whitelisting information. You’ll want to provide this information to your IT or website administrator and they can add it to the mail server so that future messages are delivered to your inbox… or add this info to your e-mail profile.
DinarUpdates.com Domains:
From domain – mail.vresp.com
Bounce domain – cts.vresp.com
DinarUpdates.com IP ranges:
74.116.89.0/24
74.116.91.0/24
63.251.246.0/24
____________________________________________________________
The following .PDF is the review by RCookie of the IMF board’s publishing of Iraq’s SBA (excellent info) – He would have wanted you all to have it.. posting the whole .PDF was the only way to get it on here. Enjoy. BGG
Robert Cook CSW CSS CBP CST CTC
Iraq:
IMF EXECUTIVE BOARD COMPLETES FIRST REVIEW IRAQ’S STAND-BY ARRANGEMENT (45 pages…)
| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1184.000 | 1182.000 |
| Euro | EUR | 1258.592 | 1257.963 |
| British pound | GBP | 1470.942 | 1470.207 |
| Canadian dollar | CAD | 883.318 | 882.877 |
| Swiss franc | CHF | 1177.524 | 1176.935 |
| Swedish krona | SEK | 131.367 | 131.302 |
| Norwegian krone | NOK | 137.427 | 137.358 |
| Danish krone | DKK | 169.249 | 169.165 |
| Japanese yen | JPY | 10.722 | 10.716 |
| Special Drawing Rights |
SDR | 1604.900 | 1604.098 |
Indicative rates – 04.10.2017