Archive for August 8, 2012

New Banknotes Expected Next Year Despite Warnings from Economists

Posted: August 8, 2012 in Iraqi Dinar/Politics

08/08/2012

ERBIL, Kurdistan Region — New Iraqi banknotes are expected to hit the market next year, but economists are warning that now is not the time to change currency due to the weakness of local production and the country’s political situation.

Najiba Najib, a member of the financial committee in Iraqi Parliament, said the new currency would be in circulation next year, with three zeros omitted from the denominations. The new currency will be used alongside older banknotes for three years before the older notes are completely withdrawn. (more…)

Central Bank calling for the application to delete the zeros early next year

Posted: August 8, 2012 in Iraqi Dinar/Politics
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08.08.2012 0:00

according to a member of the Committee of Economy and Investment Attorney Nora Albjara, that the House of Representatives received a formal letter from the Central Bank containing details of the project to delete the three zeroes from the currency and calls for its application early next year, saying there is no objection large by the House of Representatives on the implementation of the project that the country is still prepared to replace the national currency. (more…)

Parliament members object to timing on the delete the zeros project; CBI will meet with committee in coming days to clarify stages

Posted: August 8, 2012 in Iraqi Dinar/Politics
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On: Wednesday 8/8/2012 6:27

said a member of the Committee of Economy and Investment Attorney Nora Albjara, that the House of Representatives received a formal letter from the Central Bank containing details of the project to delete the three zeroes from the currency and calls for its application early next year, saying there is no objection large by the House of Representatives on the implementation of the project that the country has initializer is still to replace the national currency. (more…)

Deputy: demand for the dollar will diminish as a result of conditions of Syria and Iran and will contribute to the stability of the national currency exchange rate

Posted: August 8, 2012 in Iraqi Dinar/Politics
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Date: 2012-08-08 10: 11: 32 am Wednesday

Baghdad (News) … Likely a member of the Committee on the economy and investment Deputy/Iraqi/coalition Qusay Fri, reduced demand for buying the dollar on the domestic market during the coming period as a result of the cessation of trade between Iraq and Syria and Iran, because of the political crisis in their countries. (more…)

Member of the Finance Committee: there is bleeding for hard currency in the CBI auctions require direct intervention to stem

Posted: August 8, 2012 in Iraqi Dinar/Politics
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Date: 2012-08-08 12: 03: 06 Wednesday

Baghdad (News) … Invited Member of the Finance Committee, the National Alliance Deputy/Haytham Al-jaburi, head/House of direct intervention to stop bleeding hard currency and laundering in Central Bank auctions.

Jaburi said at a press conference attended by a reporter (News Agency news) on Wednesday: the many and serious information stating that big breaches daily in the Central Bank, because the control Division from within and outside the Bank and limited companies to auction the sale of hard currency, in addition to the lack of seriousness in the anti-money laundering law No. (93). (more…)

Tamimi: each member of the mafia in control of the currency auction poured $5 million a day

Posted: August 8, 2012 in Iraqi Dinar/Politics
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08/08/2012

BAGHDAD / JD / .. confirmed that the Finance Committee its intention to host the Minister of Finance, Planning and Trade and Health and the Governor of the Central Bank to control the entry of goods randomized to Iraq, revealing the presence of mafias in control of the currency auction earns each of them about $ 5 million. (more…)

CBI Daily Currency Auction for Aug 8, 2012

Posted: August 8, 2012 in Iraqi Dinar/Politics
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The latest daily currency auction was held in the Central Bank of Iraq on the 8-AUG-2012. The results were as follows:

DETAILS NOTES
Number of banks 25
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 218,150,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 218,150,000
Total offers for selling (US$) —–

Exchange rates

$6.9 billion dollars; Net private capital flows to the outside Iraqi

Posted: August 8, 2012 in Iraqi Dinar/Politics
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08/08/2012

Baghdad / follow-up JD / .. solve Iraq IV at the level of net private capital flows to the outside during the last 11 years $ 6.9 billion.

annual report to the investment climate in Arab countries for 2011 issued by the Inter-Arab Investment Guarantee Corporation and Export Credit “guarantee”: The “Kuwait was ranked first, with a total value amounted to 209.8 billion dollars, followed by Libya valued at 27.6 billion dollars, followed by Bahrain valued at 7.3 billion dollars, Iraq is $ 6.9 billion, then Palestine $ 1.4 billion dollars.” (more…)