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Iraq dinar news

This is a lists of Iraq dinar news that I can find in the Internet. Some of them most probably a speculations or ideas on how to sell and buy Iraqi Dinari. I will try to update the news from time to time and keep on reading this post. Constantly updated information's about Dinar Iraq are important for investor. You need to know if your investment can give you a profit or just a lost that will go down a drain.


Iraq Dinar RV most probably will be starting on 16 September 2011. A recent Iraq 2011 Budget on May had been Leaked and the Iraq Dinar Currency Revaluation will be starting. Some people says, RV will happen at estimations of 3.2 USD per 1 IQD, while some rumours says they will delete 3 zero's from the dinar.
Iraq will be getting out of Ch. VII. soon and forming a Government of Iraq (GOI). they will be naming their security Minister soon and properly constituted government according to the power sharing agreements they signed last year. With this move, they will most probably will be released by UN from CH. VII soon.
A new Iraq currency has been planned by Central Bank of Iraq (CBI). CBI Governor, Sinan al-Shabibi in his interview with Al-Sabaah claims that the new currency’s attributes will make it ‘difficult’ to falsify. The Central Bank and the Finance Committee in the House of Representatives agreed to hold further meetings to finalize discussions on the project. The central bank is determined to raise three zeroes from the of the new Iraqi currency and presented its project to the government and the House of Representatives. 
Iraq stock exchange is ready and they're in a process to start a global stock exchange. If their currency are accepted by Global market, we can most probably see a RV (revaluations). RV will happen sooner or later.

China dragon coin auction record

A gold China dragon coin auction record for £46,000 in a recent Spink auction. The China Kuping Tael, depicts a symbolic Chinese dragon surrounded by clouds on its face, with the value, date and inscription 'Ta Ching Gold Coin' on its reverse. Many people target the coin price can go as far as £97,000 but its only come a little bit over its lower estimate. The gold pattern K’uping Tael coin broke Spink previous record for dragon coin at £36,800.


Detail of the coin from Spink:
China, Empire, Kuang-hsu (1875-1908), gold pattern K’uping Tael, 1906, Tientsin mint, plain edge, dragon surrounded by large clouds within plain circle, no inscription, rev. four characters, ‘Ta Ching Gold Coin’ within beaded circle, date over, value below (F.1; Kann 1540; L&M.1023), in NGC holder graded MS62, extremely rare.


2 comments

$100 Canada polymer security features

The new Canada $100 polymer notes contain a number of unique features that expand the frontiers of bank note security and will make them difficult to counterfeit but easy to check. Most prominent are two transparent areas: the larger area extends from the top to the bottom of the note and contains complex holographic features; the other is in the shape of a maple leaf. You can check the notes using Feel, Look and Flip method. Here are the explanation on the innovative security features and design of the new $100 polymer note. You can also watch the video by Bank of Canada official Youtube.

Picture by Star




Feel

1. Raised ink
Feel the raised ink on the shoulders of the large portrait, the large number, and the words “Bank of Canada” and “Banque du Canada.”


Look

2. Large window
Look for transparency through the large window containing a metallic portrait and building.

3. Metallic portrait
Look at the details in the metallic portrait in the large window. It matches the large portrait.

4. Metallic building
Look at the details in the metallic building in the large window. Tilt the note to see sharp colour changes in the building.

5. Small numbers
Look at the numbers in and around the large window that match the value of the note. Some of the numbers appear in reverse.

6. Transparent text
Look at the word “Canada.” It is transparent and feels slightly raised.

7. Maple leaf border
Look at the maple leaves that border the large window. Some of the leaves cross into the window.

8. Frosted maple leaf window
Look at the frosted maple leaf window to see that it has a transparent outline.


Flip
Flip the note to see the features in the large window repeated in the same colours and detail on the other side.


Added Security

9. Hidden numbers
The hidden numbers are a security feature that you can use to further verify your note, with the aid of an eye-safe single-point light source. This feature allows you to verify a bank note using many commonly available single-point light sources, such as pot lights and household (incandescent) light bulbs. No light source should be pointed directly at the eye at close range, and dangerous sources of light, such as the sun, laser lights and many LEDs, should never be used to view the feature. Place the frosted maple leaf window close to your eye. Look through the frosted maple leaf window at an eye-safe single- point light source. See a circle of numbers matching the note’s value appear through the frosted maple leaf window.

Source: Bank of Canada

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Latvia new coin bring controversy

Latvia new coin bring controversy when their own country health ministry write a protest letter to Bank of Latvia that the new coin is just a way to advertise alcohol. The Cupro-nickel coin was released earlier this month for Latvia solstice festival, where people will drink beers for the celebrations. The new Latvia coin controversy just making many Latvian queuing up outside the bank's branches to get the coin.


"The coin contradicts our efforts to cut down on the consumption of alcohol in society," the health ministry complained. It seems that the Bank of Latvia's press release accompanying the issue of the new coin caught the health ministry's eye too. It waxed lyrical about beer's positive qualities, noting that it was a well known cure against insomnia and had been used in the past for semi-medical purposes.

"After water and tea, beer is the third most popular beverage in the world," the Bank of Latvia enthused. "The builders of the Egyptian pyramids were given three vessels of beer a day."

A spokesman for the bank dismissed the health ministry's criticism as "not serious" however. "We might as well ban national traditions and the midsummer solstice itself (according to their logic)," he said.


Obverse: The large coat of arms of the Republic of Latvia, with the year 2011 inscribed below, is placed in the centre. The inscriptions LATVIJAS and REPUBLIKA, each arranged in a semicircle, are above and beneath the central motif respectively.

Reverse: A beer mug is in the centre, with the inscription 1 LATS beneath it.

Edge: Two inscriptions LATVIJAS BANKA, separated by rhombic dots.

Technical Specifications:
Face value: 1 lats
Weight: 4.80 g
Diameter: 21.75 mm
Metal: cupro-nickel
Minted by: Koninklijke Nederlandse Munt (the Netherlands).
Artists: Juris Dimiters (graphic design) and Andris Vārpa (plaster model)

Source: Telegraph.co.uk, Bank of Latvia.


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New Canada $100 polymers

The Bank of Canada had just unveiled New Canada $100 polymers and $50 polymers banknote today in Ottawa. Information on the polymer material and advanced new security features was released, along with the images and designs of the new notes. Minister of Finance Jim Flaherty and RCMP Commissioner William J. S. Elliott joined Bank of Canada Governor Mark Carney for the unveiling ceremony of the New Canada banknote 2011.

Picture by CBC canada.

Minister Flaherty spoke of the importance of cash as a means of payment in the daily lives of Canadians, adding this is why it is important Canadians see their story reflected in the designs.

“These bank notes evoke the country’s spirit of innovation, and their designs celebrate Canada’s achievements at home, around the world and in space,” he said. “Bank notes are cultural touchstones that reflect and celebrate our Canadian experience.”

Picture by Star

The $100 note, which is to be issued in November 2011, features images that focus on Canadian innovations in the field of medicine: from pioneering the discovery of insulin to treat diabetes, to the invention of the pacemaker and to the role Canadian researchers have played in mapping the human genetic code. Sir Robert Borden, Prime Minister of Canada between 1911 and 1920, in an updated portrait, remains on the front of the note.


The $50 note, which will be issued in March of 2012, features images of the Canadian Coast Guard Ship Amundsen in the North, reflecting Canada’s leading role in Arctic research. It also evokes the part that Canada’s northern frontier—with its vastness and splendour—has played in shaping our cultural identity. An updated portrait of William Lyon Mackenzie King, the Canadian Prime Minister between 1921 and 1930 and again from 1935 to 1948, is on the front of the note.

The notes will contain a number of unique features that expand the frontiers of bank note security and will make them difficult to counterfeit but easy to check. Most prominent are two transparent areas: the larger area extends from the top to the bottom of the note and contains complex holographic features; the other is in the shape of a maple leaf.

“The Bank’s objective with every new series is to produce a bank note that Canadians can use with the highest confidence,” said Governor Mark Carney. "The Bank is combining innovative technologies from around the world with Canadian ingenuity to create a unique series of bank notes that is more secure, economic and better for the environment."

RCMP Commissioner Elliott stated that, “These new and technically innovative notes will go a long way to deter the threat of counterfeiting in coming years.” He added that the RCMP will “continue to work with the Bank of Canada, and our policing partners, to maintain public confidence in Canada’s currency.”

In the next six months, the Bank will focus on raising public awareness of the coming note series. It will also continue to provide information to the cash-handling industry to help prepare the system for polymer notes, and will work to inform retailers, financial institutions and law enforcement agencies about how to check the new security features once the notes enter circulation.

Source: Bank of Canada.

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Saran Singh books

Many Malaysian numismatic enthusiast must already know Saran Singh by now even if you're young or old. He is a Pakar Numismatic Malaysia that had wrote many books for our reference and reading. One of my dreams is to get all books written by him in my collection but look like it is not easy. Most of his book is so valuable, people don't want to sell them. Unless they have extra copies or they're not collector. I recently found two article by my fellow Malaysian blogger that wrote about him recently.


One of them is by whycollect, he talk about Saran Singh books Pictorial Guide To Grading Of Malaysian Coins and Bank Notes. He too have the same dreams like mine, to get all the Saran Singh books in his collection. I think many collector that serious in collecting have the same dreams to. Another Blogger@Pakar himslef dniew talk about Malaysia veteran numismatist and share some pictures of them. You can see recent pictures of Mr. Saran Singh. Its hard to find all the sifu in one place but you most probably could this Sunday for MNS auction no. 148. Will talk about it later.

A little bit biography of Mr. Saran Singh. Saran Singh was born on 10th March 1945 in Kuala Lumpur. He received his early education at St. Gabriel's School in Kuala Lumpur. Saran started to enter the field of numismatics in 1969. His specialities includes Penang, Straits Settlements, Sarawak, British North Borneo, the tin/lead coins of early Brunei, Singapore Merchants Tokens, Sikh coin of Punjab and Malaysia, Singapore and Brunei coins and Banknote. On 3rd December 1989 he received the honour P.N.M (Pakar Numismatic Malaysia) by Malaysia Numismatic Society.

I found a list in the web somewhere that show Malaysia numismatic books for sale with a complete list of Saran Singh and Mohd. Kassim Ali books title but I cannot find it. Here are some books that written by Mr. Saran Singh, please add if I missed any of his books.

1. The Catalogue of the coins of Malaysia, Singapore, and Brunei. 1700-1974.

2. Pictorial Guide to Grading of Malaysian coins and banknotes. 1978.

3. The Encyclopedia Of The Coins Of Malaysia, Singapore and Brunei 1400 - 1967.

4. Price Guide To: The Encyclopedia Of The Coins Of Malaysia, Singapore and Brunei 1400 - 1967.

5. Malaya and sarawak rubber export coupons 1922-1942. 1990. only 350 copies printed.

6. Sikh Gurdwaras in Malaysia and Singapore : an illustrated history 1873-2003.

Most of the books are publish by Malaysia Numismatic Society. I hope one day, MNS will republished this books and some other books published by MNS long time ago since most new collector like me will surely to get a copies of these books for our future reference.

Please correct and add if there is any books written by Mr. Saran Singh that is not in the list.

9 comments

How to sell coins?

Many readers always asking me the same question; How to sell coins? Where to sell my coins? Do you know what is the best way to sell my coins? I wrote Where to sell your gold coins before in here but many people don't read it or don't know it is almost the same thing. Many newbies also asked about grading (UNC, EF, VF) and what they meant, I already wrote a grading tips for newbies (with pictures); newbies coins picture grading & newbies banknote picture grading. If you're looking for Malaysia coins & banknote price, I also had posted them before in price and value label/categories. I always advice my readers to look and search first in this blog Table of Content before emailing me since I had wrote almost everything that you need.


How to sell your coins (banknotes) in Malaysia?

1. Sell them online
The best way to sell your coins is try to sell them online yourself in Mudah.my, lelong.com.my or eBay Malaysia. Its not hard to start. What you need is just to register your ID and post your item for sale. make sure you give the best pictures for your coins; obverse and reverse pictures. Your pictures should be around 800 pixels and buyer could see the details of the coin. You also need to give as much details as you can. If your item is proof coin, it will be easy to find the details since you have the card with you. If you don't have the details, try search them in Google. If you're newbies, try to avoid buyer from oversea. Don't forget to add your contacts number in the post.

2. Among other collectors.
Networking among other collectors is an important thing if you want to sell your items in the future. Without any friends, people will be afraid to deal with you since nobody know you. Most people afraid that they will get scam with a fake coins. Try joining a group in Facebook, register with Malaysia Numismatic Society or any other numismatic group you can find. Collectors will give you the highest price from other type of buyers. Just don't meet them online, meet them offline (in the real worlds) as well.

3. Coin shops
Coin shops should be the last place for you to look for buyer. Most shop will normally buy your coin at least 50% from their market value. Try to asked around on the same day for best price before you decide to sell them to the shops. You can also check online if your coin is rare. A rare coin have a high value if you're selling them in a coin shop. Just Google any inscription (writing) you can find on the coins and you might find one similar to yours. If you're in KL, you can always find all the Klang Valley dealers in Amcorp Mall or you can check their address in my Malaysia coin dealers list. Do remember though, old coins doesn't always mean that it has a high value. Most dealers most probably have a lot of coins like your in their stock.

PS: this tips only for normal & rare coins, if it is very rare, you can also send them to auction house. Will not discuss about it in here since it will make non collector confuse.



5 comments

Transformers 3-1oz Silver Proof Trio

The sci-fi blockbuster Transformers broke box office records on its opening weekend in North America in 2007. Based on the popular 1980s Television series, Transformers attracts audiences from around the world. The latest highly anticipated sequel, ‘Transformers: The Dark of the Moon’ will hit screens on 29 June 2011. The Perth Mint has issued three new coloured commemoratives portraying the characters of Bumblebee, Optimus Prime and Megatron; Transformers 3-1oz Silver Proof Trio.


All three coins incorporate the inscription TRANSFORMERS and The Perth Mint’s ‘P’ mintmark. Issued as legal tender under the authority of the Government of Tuvalu, each coin’s obverse depicts the Raphael Maklouf effigy of Her Majesty Queen Elizabeth II and the 2011 year-date.

Technical Specification:
Silver Content (Troy oz) 1
Monetary Denomination (TVD) 1
Fineness (% purity) 99.9
Minimum Gross Weight (g) 31.135
Maximum Diameter (mm) 40.60
Maximum Thickness (mm) 4.00
Designer Wade Robinson

The Transformers 3 coin is produced with authority from Dreamworks Paramount and Hasbro. The coin is struck from 1oz of 99.9% pure silver in proof quality. With only 5,000 pcs coins minted for each Transformers 3 coins by the Perth Mint. The coin is accompanied by a numbered Certificate of Authenticity. Housed in a clear display box, the coin is presented in a spectacularly illustrated shipper You can order this coin onlive via Perth Mint website. You will get a cheaper price for a complete Transformers 3-1oz Silver Proof Trio. Only 3 trio packs per customer.
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Transformers 3-Megatron Silver Proof

The Perth Mint The movie "Transformers: The Dark of the Moon" will start its worldwide screening on 29 June 2011. Perth Mint has released a trio coins for the Transformers Coins: Bumblebee, Optimus Prime and Megatron. The Perth Mint has just released this outstanding Transformers 3-Megatron Silver Proof commemorative coin. Long ago, Megatron was admired as one of Cybertron’s greatest champions, but over time, intense pride corrupted him. Using his unmatched power and rage, Megatron rules the Decepticons with an iron fist. He will do anything in his power to destroy Optimus Prime and the Autobots and claim the Universe for himself.


The coin’s reverse features a coloured depiction of Megatron and includes the Deceptacon logo. The design also features the inscription TRANSFORMERS and The Perth Mint’s ‘P’ mintmark.


Issued as legal tender under the authority of the Government of Tuvalu, the coin’s obverse depicts the Raphael Maklouf effigy of Her Majesty Queen Elizabeth II and the 2011 year-date.


Technical Specification:
Silver Content (Troy oz): 1
Monetary Denomination (TVD): 1
Fineness (% purity): 99.9
Minimum Gross Weight (g): 31.135
Maximum Diameter (mm): 40.60
Maximum Thickness (mm): 4.00
Designer: Wade Robinson



The Megatron coin is produced with authority from Dreamworks Paramount and Hasbro. The coin is struck from 1oz of 99.9% pure silver in proof quality. With only 5,000 pcs coins minted for Megatron coins by the Perth Mint. The coin is accompanied by a numbered Certificate of Authenticity. Housed in a clear display box, the coin is presented in a spectacularly illustrated shipper You can order this coin onlive via Perth Mint website.


0 comments

Transformers 3-Optimus Prime Silver Proof

The movie "Transformers: The Dark of the Moon" will start its worldwide screening on 29 June 2011. Perth Mint has released a trio coins for the Transformers Coins: Bumblebee, Optimus Prime and Megatron. The Perth Mint has just released this outstanding Transformers 3-Optimus Prime Silver Proof commemorative coin. For thousands of years, Optimus Prime and the Autobots travelled through space in search of the AllSpark. For Optimus Prime, nothing is more important than freedom, and his driving goal is to protect the Universe from the evil of Megatron and his Decepticon forces. He is one of the most powerful Transformers, but it is his skill, his determination, and his honour, that make him the greatest of all.


The coin’s reverse features a coloured depiction of Optimus Prime and includes the Autobot logo. The design also features the inscription TRANSFORMERS and The Perth Mint’s ‘P’ mintmark.


Issued as legal tender under the authority of the Government of Tuvalu, the coin’s obverse depicts the Raphael Maklouf effigy of Her Majesty Queen Elizabeth II and the 2011 year-date.


Technical Specification:
Silver Content (Troy oz): 1
Monetary Denomination (TVD): 1
Fineness (% purity): 99.9
Minimum Gross Weight (g): 31.135
Maximum Diameter (mm): 40.60
Maximum Thickness (mm): 4.00
Designer: Wade Robinson



The Optimus Prime coin is produced with authority from Dreamworks Paramount and Hasbro. The coin is struck from 1oz of 99.9% pure silver in proof quality. With only 5,000 pcs coins minted for Optimus Prime coins by the Perth Mint. The coin is accompanied by a numbered Certificate of Authenticity. Housed in a clear display box, the coin is presented in a spectacularly illustrated shipper You can order this coin onlive via Perth Mint website.


0 comments

Transformers 3-Bumblebee Silver proof

Perth Mint has recently released a Transformers 3-Bumblebee Silver proof coin. I think this is the most anticipated movie of the year, "Transformers: The Dark of the Moon" will hit screens on 29 June 2011. For Megan Fox fan, she will be replaced by another hot girl, Victoria Secret Model, Rosie Huntington-Whiteley. But for Bumblebee fan, the robot will be back in the movie. Sent to Earth ahead of the other Autobots, Bumblebee served as both scout and protector of Sam Witwicky. Bumblebee is an expert at infiltration and observation, and what he lacks in size he more than makes up for in spark. Optimus Prime and the Autobots know they can always count on Bumblebee to fight for the heroic ideals of freedom and justice.


The coin’s reverse features a coloured depiction of Bumblebee and includes the Autobot logo. The design also features the inscription TRANSFORMERS and The Perth Mint’s ‘P’ mintmark.


Issued as legal tender under the authority of the Government of Tuvalu, the coin’s obverse depicts the Raphael Maklouf effigy of Her Majesty Queen Elizabeth II and the 2011 year-date.

Technical Specification:
Silver Content (Troy oz) 1
Monetary Denomination (TVD) 1
Fineness (% purity) 99.9
Minimum Gross Weight (g) 31.135
Maximum Diameter (mm) 40.60
Maximum Thickness (mm) 4.00
Designer Wade Robinson



The Transformers 3-Bumblebee Silver proof coin is produced with authority from Dreamworks Paramount and Hasbro. The coin is struck from 1oz of 99.9% pure silver in proof quality. With only 5,000 pcs coins minted for Bumblebee coins by the Perth Mint. The coin is accompanied by a numbered Certificate of Authenticity. Housed in a clear display box, the coin is presented in a spectacularly illustrated shipper You can order this coin onlive via Perth Mint website.




3 comments

Communist Party of China 90th anniversary coin

On Wednesday, China's Central Bank released a commemorative coins for the coming 90th founding anniversary of the Communist Party of China (CPC) in Hangzhou, Zhejiang province. The coin, made of brass alloy and 30 mm in diameter, has a face value of five yuan ($0.77). A total of 60 million coins have been issued this time by the People's Bank of China, or the central bank.

Photo by Xinhua: CPC 90th anniversary coins

The obverse of the coin carries the country's name and the year of 2011. The reverse side are images of the CPC emblem and flag, as well as a peony, pigeon, five stars, and the words "the CPC 90th founding anniversary" and "1921-2011." This coins can be circulated as normal currency. The anniversary of the Communist Party of China will fall on July 1.

Source: China Daily.


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Tan Sri Ahmad Mohd Don story

Tan Sri Ahmad Mohd Don became the fifth governor of Bank Negara Malaysia (BNM) on 1 May 1994. In May 1994, he was appointed as the Governor of BNM for a period of three years and in May 1997, he was re-appointed for a further period of three years. He resigned in August 1998. It was during Ahmad Don’s tenure that Asia was hit by speculative attacks on its currencies. Although the prescribed monetary policy action was to tighten interest rates, Malaysia, under then Prime Minister Tun Dr Mahathir Mohamad, imposed capital controls, pegged the ringgit to the US dollar and slashed lending rates. In disagreement over the move, Ahmad Don and his deputy, Fong Weng Phak, resigned in August 1998.

Tan Sri Ahmad Mohd Don graduated with a Bachelor of Science (Honours), Summa cum Laude, in Economics and Business from the University of Wales, Aberystwyth, United Kingdom in 1969. He is also a Fellow of the Institute of Chartered Accountants in England and Wales and a member of the Malaysian Institute of Certified Public Accountant. Tan Sri Ahmad has extensive experience in finance and banking, having worked in various capacities with Pernas Securities Sdn Bhd, Permodalan Nasional Berhad and Malayan Banking Berhad. He served as the Group Managing Director and Chief Executive Officer of Malayan Banking Berhad from 1991 to 1994. Currently, he also holds directorships in Sekhar & Tan , J.P. Morgan Chase Bank Berhad, KAF Investment Bank Berhad, Hing Yiap Knitting Industries Bhd, United Malacca Berhad, MAA Holdings Berhad and Hap Seng Plantations Holdings Berhad.



Many people believe Ahmad Don is a scapegoat for slumping KL economy in 1998. The central bank governor had been attacked by Mr Daim and Dr Mahathir for his tight monetary policy during the crisis which they said helped hurtle Malaysia into its first recession. Despite Dr Mahathir's wish that monetary policy be eased, the central bank continued with open-market operations throughout the first half of 1997 which neutralised the effect of cuts in banks' statutory reserve requirements, and so angering the top leaders. Bankers remarked that the prime minister was furious to see the decade-long efforts to build up strategic industries like the car industry literally destroyed overnight as a result of what he saw as the central bank's tight credit policies.

Ahmad Don berated Malaysia's bankers for not reining in loans growth fast enough. His decision to focus exclusively on monetary policy tools during the crisis cost him his job. Mr Ahmad Don, who presided over the toughest regulatory changes in the industry, is also being faulted for tightening the definition of what is to be considered a non-performing loan. By his book, a loan becomes non-performing if it is not serviced for three months, down from the previous six months. By cutting the period from 6 months to 3 months, many businesses found two years cashflow eroded to one year. He compounded the mistake by not allowing businesses more credit to offset the tighter provisioning policies and higher rates, which according to a senior banker, was what really made his position a lot worse. Indeed, the central bank's provisioning policies made it hard for banks to keep healthy NPL levels and bankers say few banks can continue to operate as solvent entities without quick action from newly-formed agencies set up to address deteriorating asset quality.

Source: The Star, Business Times Asia, Wikipedia.

This is a last year post that never been publish by me because lack of information and pictures. I already post a story about Tun Ismail Mohamed Ali and Tan Sri Dato' Jaafar bin Hussien. I am still searching for information on others past BNM governors. Feel free to comment in this post if you have any good information.


1 comments

Banknote blogs list

Sorry for missing, I had been busy doing some other project. One of them is my new banknote blogs list for all banknote or papermoney bloggers in this world. Currently, I have been putting around 50 blogs in the list. It will help everyone to easily browse everyone posts in one place and find information about banknotes fast. The new lists; banknoteblogs.blogspot.com also meant to gather all banknote bloggers in one place. You can found the link under coin link widget.


If any of you feel that I mistakenly put your blog in the list, please feel free to email me at lunaticg@gmail.com. You can also email me if you want to be in that list. Please tell me where you're blogging from. Currently, I am dividing the blogs based on continent (Asia, Europe, Americas, Ocenia, Africa, United States). Maybe will change that next time. Give me some suggestion that you think can really help everyone.

I am also need everyone help to announce it in your blog about this new list, so many bloggers can join this list. I think everyone love to blog since you too love to read what others is writing in their blog, right? More blogs in this list, means we can have more article to read. I am also try to gather more blogs for my Coins Blogs bloglist. Will announce it when it is ready.

Any suggestion for this new blog lists?

3 comments

Minister brother denies Liberal Technology shares

Minister brother denies Liberal Technology shares. Businessman Haris Onn Hussein, brother of Malaysia's Home Affairs Minister yesterday said he was not a shareholder of Kuala Lumpur company when it was hired two years ago by Securency. He said he already sold his shares in Liberal Technology in September 2006 and had no dealings with Securency, which engaged the Malaysian firm as its agent in 2009. However, Liberal Technology's official records with Companies Commission of Malaysia had, until yesterday, listed Haris Onn Hussein as owning 180,000 shares.


"I had never dealt with and/or been engaged by Securency, at any time whatsoever, to influence... 'Malaysia's top politicians'," Haris Onn Hussein wrote in a statement to The Age.

Haris Onn Hussein is the brother of Malaysia’s Home Affairs Minister Hishammuddin Hussein and the cousin of Malaysia’s Prime Minister Najib Razak. Liberal Technology sent a document to The Age which it said showed Haris Onn Hussein divesting his shares on 4 September 2006. Liberal Technology directors, Hafizuddin Bin Che Din and Mohamed Hanif Bin Che Din, told The Age that they had just discovered that their company secretary had forgotten for nearly five years to update shareholding records with the Companies Commission of Malaysia. The Age asked Liberal Technology’s directors to explain their firm's apparent close connection to another Malaysian company, Lembah Sari, which is largely owned and directed by Haris Onn Hussein.

The close link between Liberal Technology and Lembah Sari was referred to in the annual reports of another major Malaysian company associated with Haris Onn Hussein. The 2006 and 2007 annual reports of Malaysian company SCOMI Marine, which Haris Onn Hussein was a director of until 2010, included a biography of the businessman.

It stated: "Haris Onn Hussein...(is) the chairman of Lembah Sari Sdn Bhd (formerly known as Liberal Technology Sdn Bhd)."

Companies Commission of Malaysia records show Haris Onn Hussein to be a major individual shareholder in Lembah Sari. Another of Lembah Sari’s shareholders is a company called Mellow Melody. Haris Onn Hussein owns 49,999 of Mellow Melody’s 50,000 shares, records show.

Asked about the links between Liberal Technology and Lembah Sari, Liberal Tecnology directors Hafizuddin Bin Che Din and Mohamed Bin Che Din said their company was a ‘‘different legal entity’’. They were "not able to give any clarification" regarding the statement in the Scomi Marine annual reports that suggested Liberal Technology had become Lembah Sari.

Liberal Technology cut ties with Securency on December 31 2009.

Source: The Age.


4 comments

Securency hired Malaysia political family

A news by Sydney Morning Herald reported that Securency hired Malaysia political family. The Age has learned that Securency signed Kuala Lumpur firm Liberal Technology as its Malaysian agent in 2009. The biggest individual shareholder in Liberal Technology is businessman Haris Onn Hussein. Haris Onn Hussein is well connected; his cousin is the Prime Minister of Malaysia, Najib Razak, and his brother is Home Affairs Minister Hishammuddin Tun Hussein.


Under Securency’s corporate structure, its board should have been informed and approved of Mr Haris Onn’s company being signed as an agent. The Age can also reveal Securency engaged Malaysian state MP and a former UMNO branch treasurer, Dato Abdullah Hasnan Kamaruddin, as another agent. Mr Kamaruddin was the UNMO party treasurer in Dr Mahatir’s home state of Kedah, a position that gave him substantial influence.

Despite engaging the extremely well-connected Liberal Technology as agent in 2009, Securency is believed not to have won any further banknote supply contracts. The company won its last major Malaysian contract in 2004. At that time, Mr Razak was the country’s defence minister and Hishammuddin Tun Hussein the education minister. It also won a smaller contract in 1998.
The Age is not suggesting Mr Razak nor Hishammuddin Tun Hussein were involved in Securency’s deals.

The company’s 1998 and 2004 contracts involved another Malaysian agent, businessman, arms broker and former UMNO official, Abdul Kayum Syed Ahmad. He has since been arrested and questioned by Malaysia’s Anti-Corruption Commission over the Securency deals and his use of commissions paid by the RBA firms.

In 2006, the Malaysian finance ministry told cigarette and alcohol manufacturers that they would need to buy security labels provided by Haris Onn Hussein’s Liberal Technology to legally sell their products. Haris Onn Hussein is also associated with a company given a 34-year concession to operate a major Malaysian toll road.

Under Securency’s corporate structure, its board should have been informed and approved of Mr Haris Onn’s company being signed as an agent. The Age can also reveal Securency engaged Malaysian state MP and a former UMNO branch treasurer, Dato Abdullah Hasnan Kamaruddin, as another agent. Mr Kamaruddin was the UNMO party treasurer in Dr Mahatir’s home state of Kedah, a position that gave him substantial influence.

Despite engaging the extremely well-connected Liberal Technology as agent in 2009, Securency is believed not to have won any further banknote supply contracts. The company won its last major Malaysian contract in 2004. At that time, Mr Razak was the country’s defence minister and Hishammuddin Tun Hussein the education minister. It also won a smaller contract in 1998.
The Age is not suggesting Mr Razak nor Hishammuddin Tun Hussein were involved in Securency’s deals.

The company’s 1998 and 2004 contracts involved another Malaysian agent, businessman, arms broker and former UMNO official, Abdul Kayum Syed Ahmad. He has since been arrested and questioned by Malaysia’s Anti-Corruption Commission over the Securency deals and his use of commissions paid by the RBA firms.

Securency, half-owned and supervised by the Reserve Bank, has for two years been investigated by the AFP and the British Serious Fraud Office for allegedly bribing public officials in Vietnam, Indonesia, Malaysia and Nigeria to win banknote supply contracts. Under Australian law, it is a criminal offence for a company or individual to pay, or offer a benefit to, a foreign government official or their close relatives to obtain a business advantage. Australia is yet to prosecute a foreign bribery case, but Securency - which has four RBA-appointed directors on its board - may be the first, given the two-year AFP investigation and the arrest and questioning of some employees and agents last year. No charges have yet been laid.

The AFP began investigating Securency in May 2009 after The Age revealed its payment of tens-of-millions-of-dollars in commissions to politically connected middlemen to win contracts in Nigeria, Vietnam and India.

I am not sure if this news has been going around Malaysia or not. Is this news true?

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Securency paid corrupt middleman

A news by The Age Australia reported that Reserve Bank currency firm Securency paid an allegedly corrupt middleman to get the RBA's plastic banknote technology on the agenda of a meeting between then prime minister John Howard and the Nigerian president. Securency wired more than $6 million into senior Securency middleman Benoy Berry in late 2009 tax-haven bank account, in return for his help lobbying senior foreign politicians. Some of them including then Nigerian president Olusegun Obasanjo and senior Indian politicians, including the president of the Congress Party of India.


A letter written by senior Securency middleman Benoy Berry in late 2009 details the meeting and accuses the RBA firm of offering ''payoffs and kickbacks to public functionaries in poor nations'' and resorting to ''less than ethical liaisons with public officials whose appointed fronts you [Securency] now utilise as conduits to distribute inducements".

Securency is half-owned by the Reserve Bank, is overseen by four RBA-appointed directors, including senior serving and former officials, and, since its inception in 1996, has been promoted heavily by senior politicians, ambassadors and the Department of Foreign Affairs and Trade.
Mr Berry's letter highlights how Securency's allegedly longstanding corrupt behaviour continues to tarnish Australia's reputation.

In his September 2009 letter, Mr Berry claims the RBA firm should give him more than the $6.4 million already paid because of the strength of his lobbying, including his role in influencing the agenda of the 2003 Howard-Obasanjo meeting.

''I had many meeting at the [Nigerian] Presidential Villa … to set up polymer technology issues on the agenda for a state visit by then Australian Prime Minister, the Rt Hon John Howard to Nigeria, which arrangements I coordinated with your then High Commissioner, all of which were
successfully implemented,'' Mr Berry's letter says.

Mr Howard was in Nigeria for a Commonwealth Heads of Government Meeting when he met Mr Obasanjo. The Age is not suggesting he was aware of Mr Berry's lobbying.

When asked about the meeting, a DFAT spokeswoman said that from 2001 the RBA firm and the Australian High Commission in Nigeria had worked together to promote "Securency's polymer technology through meetings with senior Nigerian government representatives".
The Berry letter also raises fresh questions about the failure of the RBA to prevent the polymer note-maker from engaging in bribery. The letter, which is addressed to Securency's then managing director Myles Curtis, threatens to expose the firm's "governance and corrupting malfeasance''.

Source: The Age

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