Preparing to clarify parliamentary financial reasons for reluctance on the currency changeover

Wednesday 11 July 2012 12: 58 GMT

Alsumaria news/Baghdad

The parliamentary Finance Committee, announced Wednesday, ready to clarify the reasons for the reluctance of the Council of Ministers on the changeover,although the Central Bank of Iraq confirmed its ability to it without fraud affect the national economy.

Committee member Ahmed said in an interview for the tracks "Sumerian news", that "the Iraqi Government still reluctant decision to replace currency being concerned that this may lead to significant fraud," he said, adding that"the Commission agreed two weeks earlier with the Central Bank on how to replace the local currency after deleting three zeros.

The projects Committee asked the Central Bank exchange mechanism, and the last confirmed that he could do this procedure without a large fraud that will affect the national economy. "

Confirmed tracks "make visible the Finance Committee of the Council of Ministers on the causes of frequency in order to take a decision on that."

The parliamentary Finance Committee member Najib announced Risalat (3 July), that next year's budget in the new currency will be 2013 after deleting three zeros from the current currency, saying that the reluctance of traders and trading companies behind the Iraqi currency the Central Bank adopted draft delete zeros.

The parliamentary Finance Committee hosted, on (June 26th), Deputy Central Bank Governor Mohammad Saleh appearance to discuss the mechanism to be followed by the Bank in the process of deleting zeros and how long this process and the variables that expose the exchanged currency.

He was a member of the Finance Committee revealed in Al Haytham 15 may 2012 to January of next year will see the delete three zeros 2013 and Exchange, with next September 2012 will begin printing the new currency in various categories.

The Central Bank, accused (12 September 2011), Government of obstructing the monetary reform and vowed to prosecute those responsible for exposing, blaming the country's interests to financial risk.

As aide to the Prime Minister on Economic Affairs (25 August 2011), to raise zeros from the currency is the biggest corruption in Iraq if during this period, under the title economic absurdity, warning of "Division" is preparing to falsify trillion Iraqi dinars to replace them in the light of the forthcoming changes.

Some economists believe that Iraq is not formatted for the time being to delete the zeros of the Iraqi dinar, noting that deletion requires political stability and security as well as economic stability.


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