Prestige of the Iraqi dinar
29/08/2013 12:00 AM
and one of the most important processors Iraqi dinar exchange rate towards enhancing purchasing power and restore its true value through imposed in international transactions business was or investment, so it was a step Iraqi cooperation Indian via this mechanism منجزا economically significant in the future.
and because people proud and treasured national currencies were contributed to maintain its prestige in front of foreign currencies, although the dollar is al-Faisal in all international transactions but that does not prevent from the heart of the equation to calculate the price according to the JD and make it the master of currencies and followed after that.
we find with the exit of Iraq from the provisions of Chapter VII possibility of re-role of the Iraqi dinar in business dealings and as a currency key in various fields after rid the country of the crippling blockade claimed its value.
has contributed to fluctuating exchange rate in Iraq and control the dollar in the Iraqi market to tarnish the image of the Iraqi economy and the weakness of the value of its currency and accompany that inflation, monetary and price ongoing and who is in a life and shares the delay in rebuilding the country.
these pioneering step taken by the Government and, although it is still on paper has not carried out only after the entry of Indian investments Alaanha successful step requires taken in all dealings with the Iraqi companies and investors, exporters and importers.
also adjust the mechanism in trading needs to study and evaluate Caffeine and then legislation obliges all partiescommitment to the priority of the Iraqi currency dealings, it is true that this measure will face the complexities and challenges initially, but inevitably Seoul to achieve success with the experience that Snkhudha with the Indian side in the future.
also call for financial and monetary institutions to study the possibility of success of this experiment and we believeThe CBI is on the first in creating kits success in cooperation with the Ministry of Finance, represented Bmassarvha government and the Ministry of Planning and the Association of private banks in Iraq represented Bbnokha civil and work on issuing recommendations on helping the success of this pilot experience in Iraq.
as that responsibility requires the participation of the Committee of Economic Council of Ministers for its relationship with the direct and its role in helping to use the national currency in transactions, as well as economic consulting in the parliament, the government and as an observer to the course of the discussions and the decision remains with the two policies of fiscal and monetary in approving the possibility of implementing this experiment and submitted for ratification and approval.
said in the introduction to vertical such that this experience may face complications and challenges الخصها in double accommodate these economic culture from the use of currency as the Government dollar has taken root in the minds of all segments of society from Her evergreen to top dealer in Iraq, so we need to intensify the media in this regard as the money supply of the Iraqi currency in the market is another challenge,
and this Status Stdona to speed up the process of deletion of zeros to achieve ease of handling them, but there is a possibility to use instruments magnetized until the completion of the accomplishment of a deletion, and the bottom line is that we must begin to experiment without waiting for the re prestige to our currency local and see in the agreement the Iraqi Indian best start to achieve this goal.
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