Friday, August 10, 2012

* Finance Committee suggest deleting the zeros and direct currency ...

Suggested the parliamentary Finance Committee, Thursday, that is the direct deletion of zeros and currency exchange during the month of July of next year, as shown, the central bank removed the fears of all, it confirmed that the government will support this project after providing Baijayate and cons.

A member of the Committee Haitham Jubouri in an interview for ?Alsumaria News?, ?The Finance Committee supports the project to delete the zeros and currency exchange, and must be government involvement in this project as responsible for drawing up the financial policy of the country,? likely to ?be direct this project during the month of July next year 2013. ?

The Jubouri that ?the central bank removed all fears of a changing of the currency, after warnings from the conduct of money laundering or increase the size of inflation,? noting that ?the form of committees competent to control it.?

The Jubouri that ?the Iraqi government did not object to the origin of the project, but objected to the lack of knowledge of this,? pointing out ?that it will support the project after providing the positive aspects and negative aspects of the project.?

The Finance Committee of the House of Representatives have shown, in the July 13, 2012, support for the replacement of the existing currency, while the central bank?s readiness required for this step, confirmed that the bank needs another year to begin the process of replacement.

As announced, in (July 11, 2012), a willingness to clarify the reasons for the Council of Ministers on the frequency of switching the currency, although the central bank confirmed its ability to that of the occurrence of fraud affecting the national economy.

And announced by the Finance Committee?s parliamentary Najiba Najib in (the third of July, 2012), that the budget next year, 2013, will be the new currency after deleting three zeros from the current currency, arguing that the reluctance of traders and companies from trading in Iraqi currency behind the adoption of the Central Bank of the project to delete the zeros.

Hosted the Parliamentary Finance Committee, in (26 June), Deputy Governor of the Central Bank of the appearance of Mohammed Saleh to discuss the mechanism that will be followed by the bank in the process of deleting the zeros and how long this process and the variables that will occur on the exchange of currency.

Jubouri was revealed on 15 May 2012, that the month of January of next year, 2013, three zeros will delete and replace the currency, while the next will see the September 2012 direct printing of new currency in different categories.

He accused the central bank, in (12 September 2011), government bodies obstructing the monetary reform and vowed persecuting, blaming the authorities responsible for exposing the financial interests of the country to danger.

What was seen as an adviser to Prime Minister for Economic Affairs Abdul Hussein Al-Anbuge, in (25 August 2011), to raise zeros from the currency is the biggest corruption in Iraq if it was during this period, and fall under the name of tampering with the economic, warning of ?mafias currency? is preparing to rig the trillions Iraqi dinars to replace them in the light of the upcoming changes.

It is noteworthy that some economists believe that Iraq is ready for the time being to delete the zeros of the Iraqi dinar, pointing out that the deletion needs to be a security and political stability as well as economic stability.

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Source: http://theiraqidinar.com/2012/08/09/finance-committee-suggest-deleting-the-zeros-and-direct-currency-exchange-in-july-of-next-year/

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