An invitation to re-work the cash Balmeskukat
An invitation to re-work the cash Balmeskukat
8/27/2014 0:00
To the fact that paper currencies perishable and reprinted expensive
Baghdad – Mostafa Hashemi
at a time when the world advanced in payment methods Financial represented by instruments and credit cards and mobile Bankink lost Iraq in the nineties of the last century, a generation whatever means of payment, while proceeded to work through sophisticated to keep pace with global progress in this area, but he -obhsp an economist -tbaky payment methods ancient of the important means that can not be eliminated as long as dealing with diffuse significantly among the public.
In this context, said economic expert, Dr. appearance of Mohammed Saleh that whatever emerged from the modern methods and advanced payment can not be The repeal and other payment means whatever reasons, stressing that despite dealing currency cash paper to be re-work Balmeskukat cash because they contribute greatly to the revitalization of trading small is the means of transport and markets.
Saleh said in a statement (morning) that he can not dispense coins metal trading, despite the lack of a culture of trading since the nineties of the last century, indicating the need to boot to re-work it out through the monetary authority by firing coins, silver or gold Kthaih psychological and mental re-work coin.
and coin coin is a cutting of metal is divided into categories specific cash According to certain sizes take into account the central bank to be Madenha equivalent value in exchange for the value price, also takes into account that carry national symbols and the date of minting, The minting of coins already issuing paper currency, according to historical evidence.
called to issue coins metal equivalent monetary value, due to lack of implementation of the project to delete the zeros from the currency where possible to refer to the categories minimum to implement transactions small place where the largest circulation in the country.
explained that the continuation of dealing currency paper presented to the damage quickly while coins last for many years without damage, but if that was deliberately , explaining that the average life span of banknotes in Iraq is estimated at 5 years, while the coin has lived default longest reach its duration to 30 years at a minimum, indicating the importance of a return to work in Iraq for these reasons.
Salih stressed that handles commercial transactions small from various segments of society are more needed to coins than they need to paper with small groups requires re-work Balmeskukat cash.
, and continued: because the currency printing costly in economic terms, and an investigation of the feasibility find that there are countries that adopt and focus on dealing Balmeskukat cash while confined their currencies with large groups on paper currency.
and damage the CBI what of between 1 to 2 percent annually from the size of paper currency in circulation because of its exposure to consumption and damage.
noted that banks need to be preparations to accept the deal out and create reservoirs to its own side of the scales for the weighing and packaging It is then re-injected to the public, as well as re-working mechanics of counting in each of the banks and the central bank, stressing the need to create infrastructure before releasing coins to the public.
According to the Central Bank, Iraq has one of the most payment systems, electronic advanced in the world, It is the system responsible for the exchange of payment orders between banks and automatically using the network safe and effective.
system consists of 3 Iraqi Payments Systems is a gross settlement system in real-time, and automated clearing system, and the system of registration of government securities.
alsabaah.iq
