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Category: Iraqi Dinar Economy

Iraq is ready to Reintroduce the Coin and Delete the Zeros

Iraq is ready to Reintroduce the Coin and Delete the Zeros

The Iraqi House of Representative’s Finance Committee has announced a trend to re-operate the coin. These coins have been used for decades in Iraq. The Committee stressed the importance of pre-adopting the coin process step Delete Zeros from currently circulating Iraqi currency to be valuable to the small cash category. The morning newspaper reported that a member of the Iraqi Finance Committee, Hanin al-Qadu issued a press statement and said we stressed the need to re-work coins that have been…

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The Iraqi Central Bank issued New Instructions for Iraqi Private Banks

The Iraqi Central Bank issued New Instructions for Iraqi Private Banks

The Iraqi Private Banks Association issued a statement that the Iraqi Central Bank has forwarded new instructions to manage & control the selling process of the U.S dollars to cover the imports of the Iraqi private sector. The statement of private banks association indicated that the Central Bank of Iraq has issued new instructions to handle the sales transactions of the U.S dollars in order to cover the Imports of Iraqi private sector. It was also said that these instructions…

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Isolated Fraud of 5K & 10K Iraqi Dinar discovered by the Commission

Isolated Fraud of 5K & 10K Iraqi Dinar discovered by the Commission

The Iraqi Parliamentary Economic & Investment Commission has confirmed that they have discovered a fraud in the 5 thousand Iraqi dinar category and the 10 thousand dinar category in the Iraqi domestic market. He also stressed that this is a supposed phenomenon of fraud case because it hasn’t yet irritated in the Iraqi domestic markets. A member of the committee, Najiba Najib issued a press statement and said that commission has discovered a number of fraud cases regarding the 5,…

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Why Reserves at CBI Decreased $21 Billion?

Why Reserves at CBI Decreased $21 Billion?

A representative of Iraqi Parliamentary Economic & Investment Commission issued a statement that there is a significant drop in the size of cash reserves at the Iraqi Central Bank and estimated at 21 billion U.S dollars. It is due to unstable financial & economic condition and financial crisis in the country. The member of Commission MP Haris Shanshal said in a press interview that the financial crisis in the country and threatening corruption in all forms in the state. It…

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Currency Auction Caused Hovac in Iraq’s Economy : Tamimi

Currency Auction Caused Hovac in Iraq’s Economy : Tamimi

Iraqi Dinar 123 News:– A member of the Iraqi Parliamentary Finance Committee Majida Al-Tamimi criticized the Iraqi Central Bank. She pointed out that Central Bank of Iraq should close down the blind quotas for CBI administration and political, from the foreign currency auction. Al Tamimi further added in her statement published on her official website that the administrative and political blind quotas are confusing the performance of the government institutions, especially harmful for the economy of the country. She stressed…

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The New 50K Category Will Have No Impact on Deleting Zeros

The New 50K Category Will Have No Impact on Deleting Zeros

Iraqi Dinar 123 News:– On Tuesday, the Central Bank of Iraq issued a statement that launching the 50K category Iraqi dinars would not reflect any impact on the project of deletion of three zeros from the Iraqi currency. The Bank pointed out that Iraqi social and economic conditions are preventing the execution of this project. Walid Idi, the director general of the banking and credit in the Central Bank said in an interview program and presented by Alsumaria TV that…

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Large Cash Categories to Help Address the Economic Issues

Large Cash Categories to Help Address the Economic Issues

Iraqi Dinar 123 News:– The country is currently experiencing a number of severe conditions and the Iraqi people would not be able to live in the presence of great scarcity and increasing economic crisis. But the high spirits and fairy tale needed to face the painful reality. The Iraqi Central Bank announced the issuance of high amount category of 50K Iraqi dinar. One of the Iraqi citizen posted on Facebook that this process would not be more beneficial for Iraqi…

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Oil Prices Fall Won’t Affect Our Currency Reserves: CBI

Oil Prices Fall Won’t Affect Our Currency Reserves: CBI

Iraqi Dinar 123 News:– The Central Bank of Iraq stressed that continuous downfall in the global oil prices would not reflect any major impact on Iraqi economy and its currency because we have handsome amount of hard cash reserves. The Governor of the Iraqi Central Bank Ali issued a press statement on Tuesday that decline in the oil prices decreased the U.S dollars cash reserves. But we still have a great level of hard cash reserves. It is more than…

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