Prestige of the Iraqi dinar

29/08/2013 12:00 AM

Yasser incumbent

One of the most important processors Iraqi dinar exchange rate towards enhancing purchasing power and restore its true value through imposed in international transactions were commercial or investment , so step of Iraqi cooperation came across this Indian accomplishing a major economic mechanism in the future.

Because people proud and treasured national currencies has 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 thereafter.

We find with Iraq would emerge from the provisions of Chapter VII possibility of re- role of the Iraqi dinar in business dealings and considered as the main currency in different areas after that rid the country of the crippling blockade claimed its value .

The shares of exchange rate fluctuations 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 associated monetary and price inflation which under ongoing life and shares of the delay in rebuilding the country.

This pioneering step taken by the Government and , although it is still on paper but not implemented after the entry Indian investments Alaanha the successful and requires a step taken in all dealings with the Iraqi companies and investors , exporters and importers .

Also, adjust the mechanism in trading needs to study and evaluate the caffeine and then legislation obliges all parties abide 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.

We also call for financial and monetary institutions to study the possibility of success of this experiment and we believe that the 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 participation Economic Committee in the 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.

I said in the introduction to vertical such that this experience may face the complexities and challenges of 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 currency bloc from the Iraqi currency in the market is another challenge , and this case 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 Indian Iraqi agreement best start to achieve this goal .


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