BAGHDAD / Baghdadiya News / .. Revealed financial sources that the sensation seemed to escalate since 2008 and so far about the value of stock prices in the Iraqi market for securities that have faced hit hard during the past decades and will direct them blow the largest in the event of reduction of share value to one penny, according to planning the CBI
At a time in which the central bank to be considered as a date 1/1/2013 to officially start the flow of the new Iraqi dinar after deleting three zeros from him to cash transactions in Iraq, decided to calculate the final value price per share in circulation as of the same date a penny instead of current price is one dinar
, and this is what several economists will suffer a major problem of the Iraqi stock market.
And managed agency / Baghdadiya News / get the documents that confirm that the central bank ended a plan replacement and set a date early next year to start trading dinar new will start to delete three zeros from it, the process of printing new categories are 50, 100 and 250 dinars, and last category is equal to quarter of a million current currency and this will be the highest category to facilitate the transactions large in addition to the categories currently in circulation after Trchigaha a five dinars and class ten and twenty-five dinars, and these categories of paper, while the metal is 50, 100, 250 and 500 fils in addition to the BD one, which will be metal, too.
With regard to the prices of stocks and bonds, according to the Central Bank, the find appropriate treatment of the value of stocks that are traded in the Iraqi market for securities, especially since the value of one share is currently one dinar, and will be in the case of deletion of zeros penny
, and in this area suggested that the bank set up a committee chaired by a representative of the the Bank and the organelle by the Ministry of Finance and the Ministry of Justice and the Office of Financial Supervision and the Iraqi market for securities to determine the accounting procedures of the crisis in the case of currency exchange and delete three zeros of them in a timely manner and prior to the process of replacement, and may be the idea in the calculation of all (1000) share a dinar again, and that the issue one share instead of all the 1000 shares is the date of issuance of the new currency, or any ideas of the Committee up to it above.
Economic expert, d. Majid picture, between the Agency / Baghdadiya News / What available information, the central bank will instrument currencies of small start than fifty fils ascending order, here are dealing Fils result of major developments in inflation has become a zero exactly, and it was proposed to print ten money surge is that the bank insisted to print 50 fils rise.
With regard to equity between the picture that the stock and accounts, bonds and all the problems that may arise as a result of deletion of zeros must form joint committees of the concerned authorities and also the private sector to solve these problems and the collection of proposals, including some passed to keep the share price one dinar, but the actual value will be fils, the problem that occurred is the low value of the Iraqi currency to stock which was priced dinars in the eighties and then the value of the dinar is equal to $ 3, and surprisingly was kept on its previous value, and here the issue is complex and you need an immediate decision may cause losses of large shareholders may win as well, and here the solution, however, the decision-makers, Although it's a problem raised since 2008 and has remained so far, but there are solutions, but solutions not agreed upon.
And on the large groups that Top is 250 new dinars, between it would reduce the amount of currency in circulation, especially of deals big and instead of carrying large quantities to make a deal and one is carrying a number of papers of the new, or one sheet of paper because it is equal to a quarter million dinars from the exchange current.
And on the efforts of the bank to raise the value of the dinar, said yes, there are many proposals and the project to delete the zeros ensure that this proposal any time the equation of the value of the dinar per one dollar will be replacement, but there are many issues related to such oil prices and adjustments that must be brought to an end price of the neighboring countries, the issue is the value of the real dinar internally and externally any purchasing power, in the case of force required equation of exchange can walk in this direction, either in the purchasing power will remain high it can not be equated.
And on the value of stocks new between the Executive Director of the Association of Iraqi banks Abdul Aziz Hassoun, "The solution is not to reduce the value of the share, but that the mechanism will be as follows now the value of the stock one dinar, and here the capital as a whole will be re-arranged, for example, capital of the company 100 million, spread over shareholders, the one who owns 10 000 shares will become the owner of one hundred shares, and so on, "/ End / 47.