Finance Committee Member appeals to GOI and CBI saying, Changing the currency and delete the zeros alone will eliminate fraud

Posted by on Oct 26, 2013 | Leave a Comment

Saturday, May 4, 2013 09:15

Member of the Committee appealed, on Saturday, to the Iraqi government and management of the Central Bank of the need to implement the project to delete the zeros and the current currency exchange described by Balkadima and removable fraud.

A member of the Committee MP Abdul-Hussein al-Yasiri in a statement to / Baghdadi news / that “Iraq needs a new clean and currency forgery of proof that ancient coins consumed after circulating for a long time during which he became easy to forgery and counterfeiting, as is happening now.”

Yassiri added that “the project to delete the zeros delayed for various reasons is one of the most important projects that support monetary policy in Iraq being put new currency strong and resistant to counterfeiters as well as reduce the size of the rolling of banknotes and facilitate the conduct of monetary accounts in Iraqi banks.”

And he “was expected to initiate the implementation of the project in the current year, but the new governor was not convinced so what led to put the project on hold indefinitely until now.”

The CBI said that the project to delete the zeros from the currency will start in a new financial beginning of 2014 instead of the current year, while settle the matter and completeness of its aspects noting that “the reason for the postponement of the implementation of the project came to not end the necessary preparations in addition to the government’s request from the bank to wait in implementation.

Alternate translation:

The parliamentary Finance Committee, called on Saturday, the Iraqi Government and the Central Bank need to delete zeros and project replace the existing currency as old and forgery.

Committee member MP Abdul Hussein Al-yasiri in Baghdad/news “Iraq needs a new currency is clean and not faking the ancient coins are consumed after long circulation which has become easy to forgery and counterfeiting also occurs.

Al-yasseri said that “the draft late zeros deleted for various reasons is one of the most important projects that support monetary policy in Iraq as a new currency put strong and resistant to counterfeiters to reduce the size of rolling of banknotes and facilitate cash accounts in Iraqi banks.

He was expected to start the project this year, but the new Governor was persuaded to postpone the project for unknown until now. “
The CBI had confirmed that the draft delete zeros from the currency will begin in the new fiscal year starting in 2014 instead of the current year, while resolving the matter and completeness of its aspects that cause the postponement of the implementation of the project was to not finish necessary preparations in addition to the Government’s request the Bank wait.

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