Member of Finance Committee: The Central Bank will not be able to replace the currency in early next year and prolong the change will make it easy to fraud

15-07-2012 | (Voice of Iraq) - Add a comment -
Baghdad (news)

Noted member of the Finance Committee MP / block the coalition in Iraq / Hassan Salman al-Bayati, the inability of the central bank to replace the currency in the beginning of the year (2013), because he was able to solve the arrangements for printing the new currency the deleted zeros did not agree on the logos occasion reflect the civilization of Iraq.

Bayati said (of the Agency news) said on Sunday: The Central Bank began two years ago to study and take action to replace the currency, but he was not able to make this task, prompting the bank to demand giving him another year to remove the obstacles that direct replacement of the currency.

The al-Bayati: It is assumed that the central bank is ready the beginning of the year (2013) to replace the currency new deleted zeros, but he was not able to make this task, indicating that the prolonged period of currency exchange will encourage some of mafias to know every detail and facilitates forgery.

He added that the process of deleting the zeros are needed in Iraq to facilitate commercial transactions and facilitate the carrying value of the largest cash a few categories.

And: that the budget (2013) Current currency will be issued and not new because they are not ready to trade, the old The currency will remain for two years in trading in the market to be withdrawn gradually.

The member of the Finance Committee: The Central Bank and Ministry of Finance and the Cabinet to speed up the procedures for the new currency, so as not to result from delaying the emergence of counterfeit currency.

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