gizmo
07-06-2010, 07:36 AM
Statement: Economist said that the deletion of zeros in place of the Iraqi currency to create sensation between supporters and opponents about what that might entail for the effects of the economic sector, especially the volume of currency in circulation in the Iraqi market is estimated about 30 trillion dinars. The name Abdul Hadi supporters believe that lifting the zeros will create a psychological effect to the citizen through the strengthening of its currency and adopted more widely, rather than the foreign currency that is demand for it's combination of high value and ease of pregnancy and the difficulty of counterfeiting. Abdul Hadi said the process of lifting the zeroes will raise the value of the currency and reduces the demand for hard currency which is distinguished by force and will lead to re-balance between the value of local and foreign currency and give it market power at home and abroad. Abizaid and Abdul Hadi either oppose the process of lifting the zeroes believe that the dinar will lose its value and depend on the price index in the local market. And that through the gradual rise of prices would lead to high rates of inflation, so that we lift the zeroes will increase prices and rising inflation rate and have to repeat the same process again. Abdul-Hadi We are with the postponement of the process at this time because it will create confusion in the Iraqi market and will be charged the Central Bank of huge amounts of money through the process of drawing, printing, replacement, especially the amount of currency in circulation in the Iraqi market is currently estimated at about 30 trillion dinars compared to what it was the amount of currency on our web site in 2004, which amounted to 4 trillion dinars. He noted that the approach to support market stability and the national currency will be better and more effective than replacement with a new value and other currency He also announced the Iraqi market for securities, to allow the Bank of Bahrain's Ahli United Bank to buy shares of Commercial Bank of Iraq, according to a mechanism in the Iraqi Stock Exchange trading, after the approval of the Iraqi Central Bank to raise the contribution of Bahrain to 75%. The statement said the Iraqi market for securities have been approved "to identify the first session to allow the purchase of shares of Commercial Bank of Iraq by the Ahli United Bank, Al-Bahrani," and that according to the "mechanism of trading in the Iraqi market for securities." The National Bank of Bahrain won the approval of Central Bank of Iraq last year to increase its stake in Commercial Bank of Iraq from 49% to 75% by buying shares of Bank of Iraq from the Iraqi market for securities. The Iraqi Stock Exchange in its statement that "all the brokerage firms could purchase coverage through the implementation of contracts for the sale of shares to investors willing to bank in accordance with the trading mechanism," .... http://translate.googleusercontent.com/translate_c?hl=en&ie=UTF-8&oe=UTF&sl=ar&tl=en&u=http://www.facebook.com/photo.php%3Fpid%3D136501%26id%3D122114117829827&rurl=translate.google.com&twu=1&usg=ALkJrhiDV70v6-8b0NXmRYoCCsGbqCfsTA