Note, I will be getting these article professionally translated for better reading, stay tuned for that. Make sure to subscribe to the Newsletter if you haven’t already done so. You can read the original Central Bank of Iraq articles which I had translated here:
https://dinarrvnews.net/central-bank-iraq-restructuring-iraqi-currency-deleting-zeros/
https://dinarrvnews.net/translated-central-bank-of-iraq-statements-on-iraqi-currency-deletion-of-zeros/
First article:
Will the implementation of the project because it involves a large economic benefits.
The central bank to delete the zeros in early 2017
Benefits:
1. Iraqi dinar inclusion within the global currency basket and handle it officially the world’s stock exchanges and financial markets.
2. The possibility of economic agreements to handle the national currency as it can Iraq contract agreements Order dinars instead of dollars when the contract to build two production lines deals or deals Stirad goods and this will cover a very large part of the foreign remittances that are squandering of national wealth from foreign exchange.
3. Adjust the transaction allows dealing in Iraqi dinar in the Iraqi market and not rely on foreign and squandered currencies and Bosrtha transfer abroad by the private and public sector, which is the sovereign wealth dissipated to the outside on small transactions and non-essential and luxury in Iraq at the time need this wealth of storage as a reserve.
4. will be disposed of manipulating the currency exchange market and completed the so-called auction sell the currency, “” burning oven dollar. “”
5. work will depend corrupt suspicious of banks and their agents and Smaserthm “” contractor and investor cartoons ”
6. will be determined by the roof top of the amounts transferred abroad of currency the dollar, euro, yen and sterling and the yuan’s exchange-active and other pound to ensure that no smuggling the vast majority of trades of currency smuggling.
He said the Iraqi Central Bank Governor said the project to delete the zeros will be implemented in early 2017, indicating that the bank began to develop the first steps of the project.
And he said: “The purpose of deleting three zeros from the Iraqi currency is to support the Iraqi dinar and make it a competitor of foreign currency”, returned him as “this strategic project will serve the country’s economy if it will be inclusion of the Iraqi dinar in the global basket of currencies in the vital world exchanges.”
He added that “the Bank is working on mechanisms for the implementation of this project is expected to start at the beginning of 2017,” noting that “the central bank began the first steps of the project through the selection of designs, companies and the country in which the currency will be printed.”
He pointed out that “the new currency entry does not mean the destruction of ancient coins, but will continue to trade for about ten years,” pointing out that “this period will enable the central bank to withdraw the old currency in accordance with the dynamics and mechanics in order to preserve liquidity in the market.”
http://hathalyoum.net/1149313
Here is the Strategic Plan of the CBI for 2016 to 2020:
https://dinarrvnews.net/central-bank-iraq/strategic-plan-2016-2020/
Second Article:
The central bank project to delete the zeros will be implemented in early 2017
Independent Iraqi news agency
The governor of the Iraqi Central Bank, on Thursday, said the project to delete the zeros will be implemented in early 2017, indicating that the bank began to develop the first steps of the project.
Keywords and said that ” the goal of deleting three zeros from the Iraqi currency is to support the Iraqi dinar and make it a competitor of foreign currency,” returned him as “that strategic project will serve the country ‘s economy.”
he added that ” the Bank is working on the mechanisms in place towards the implementation of this project is expected to commence by the beginning of 2017 , ” noting that ” the central bank began the first steps of the project through the selection of designs, companies and the country that will be done Print currencies. ”
He noted that” the introduction of new currency does not mean the destruction of ancient coins , but it will continue to trade to about ten years , “pointing out that” this period will enable the central bank to withdraw the old currency in accordance with the mechanics will maintain market liquidity. ”
Finance Committee and was in former House revealed, (2013 August 15), the postponement of the process of removing zeros from the currency until after the next parliamentary elections, while confirming that the government is demanding guarantees for non – substituent currency back to the markets and forge.
the Central Bank of Iraq confirmed, in the (April 25, 2013 ), that there is no intention at the moment to restructure the currency and delete the three zeroes of them, denying the reports in this regard. it is
noteworthy that the General Secretariat of the Council of Ministers announced (April 12, 2012), for the patient in the application process of deletion of zeros from the national currency, which had to be stop all procedures related to the transaction mentioned until further notice. It is
noteworthy that some economists believe that Iraq is not formatted for the time being to delete the zeros from the dinar, pointing out that the deletion needs to be a security and political stability as well as economic stability.
http://www.ina-iraq.net/content.php?id=27583
Third article
Learn the benefits of removing zeros from the Iraqi currency
November 4th 2016
Central Bank: the deletion of zeros in early 2017
Benefits:
1.adraj Iraqi dinar within the global currency basket and handle it officially the world ‘s stock exchanges and financial markets.
2.amkanah held economic agreements to handle the national currency as Iraq could hold Order dollar instead dinar when the contract to build two production lines deals agreements or transactions Stirad goods this will cover a very large part of the foreign remittances that are squandering of national wealth from foreign exchange.
3.illt trading allows dealing in Iraqi dinar in the Iraqi market and not rely on foreign and squandered currencies and Bosrtha transfer abroad by the private and public sector, which is the sovereign wealth dissipated abroad a small, non – essential positions and luxury in Iraq at the time need this wealth of storage as a reserve.
4.seetm rid of manipulating market currency exchange and finish the so – called auction sell the currency , “” burning oven dollar “”
5.satoagaf work corrupt suspicious of banks and their agents and Smaserthm “” contractor and investor cartoons ”
6.seetm capping the highest amounts transferred abroad of currency the dollar and the euro and the yen sterling and the yuan exchange – active and other pound to ensure that no smuggling the vast majority of trades of currency smuggling.
and the Iraqi Central Bank Governor said the project to delete the zeros will be implemented in the beginning of 2017, indicating that the bank began to develop the first steps of the project.
and he said: ” the purpose of deleting three zeros from the Iraqi currency is to support the Iraqi dinar and make it a competitor of foreign currency”, returned him as “this strategic project will serve the country ‘s economy if will be inclusion of the Iraqi dinar in the global basket of currencies in the vital world stock markets. ”
He added that” the Bank is working on mechanisms for the implementation of this project is expected to start at the beginning of 2017 , “noting that” the central bank began the first steps of the project through the selection of the designs , companies and the country that will be the currency printing. ”
He pointed out that” the new currency entry does not mean the destruction of ancient coins, but will continue to trade for about ten years , “pointing out that” this period will enable the central bank to withdraw the old currency in accordance with the dynamics and mechanics in order to preserve liquidity In the market “.