***********Attorney Mayahi warns of pumping counterfeit currency through the process of changing damaged by a new categories by the Central Bank

Admin Tue Oct 30, 2012 8:22 am

Date: 10/30/2012 12:00:40 Tuesday

Baghdad (news) .. Warned member Economic Commission MP / Iraqi bloc white / Aziz Mayahi, from the exploitation of some gangs pumping counterfeit currency into the market through the process of switching categories damaged not new from the existing currency by the central bank, calling for taking important steps to tighten control on the process of change to prevent this from happening .

Said Mayahi (of the Agency news): After the failure to reach an agreement to implement a project to change the existing currency by deleting the three zeroes from the current period, Valtjo central bank about the currency exchange current damaged to another through a new contract with a foreign company to do so.

He added: the process must be implemented in accordance with legal procedures tight because there are criminal gangs specialized economic counterfeiting currency to take advantage of this opportunity to put forged categories to the local market, thus affecting the financial and economic situation of the country.

The Central Bank of Iraq, his contract with the British company to replace damaged currency with new ones, stressing that the replacement process will be the beginning of the month of November, as pointed out that these currencies are only 1% of the currency in circulation in the market.

The deputy governor of the Central Bank of the appearance of Mohammed Saleh, said that "the bank has contracted with a British company specialized printing currency to print in small denominations which the 250 dinars and the JD 1000, for the purpose of replacing damaged with new ones," noting that "this company is one of the large companies, which are printed nearly 60% of the world's currencies. "

And citizens suffer from the difficulty of buying small groups of markets due to damage and rupture most especially the two categories of the 250 and 1000 dinars.

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