Three languages ​​.. "Scrap" back into the pockets of Iraqis

Date: Thu 07/26/2012 12:25



Head of the Finance Committee in the House of Representatives Haider al-Abadi, Thursday, for the presence of five to seven models for the new currency has provided the central bank, pointing out that the addition of three languages ​​by pointing out the existence of six categories and six categories of paper and metal.

Ebadi said in an interview for "Alsumaria News", "five to seven companies provided models for the new currency to the Central Bank, which will be selected in turn one," explaining that "the models contained the cultural sites of Iraq, and three languages: Arabic, Kurdish and English."

He added Abbadi that "the form of currency the new not far from the image of the dinar familiar with the people," explaining that "the paper currency would be the categories of five dinars, ten dinars, and twenty five dinars, hundred dinars, as well as a proposal to add a class two hundred dinars."

Ebadi pointed out that "the coin will be the fiftieth category fils, fils, one hundred, five hundred fils, and a quarter dinars, one dinar, and two dinars," stressing that "put the speed into account the distinction between the different categories."

The head of the Finance Committee in the House of Representatives, that "there will be a new technology in the new currency to prevent forgery, and the unemployment age of the currency, and not to damage quickly."

The Finance Committee of the House of Representatives, expressed in (July 13th of this month), 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.

And announced by the Finance Committee's parliamentary Najiba Najib in (the third of July, current), 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 removing zeros, and how long this process and the variables that will occur on the exchange of currency.

The member of the Finance Committee Haitham Jubouri on 15 May 2012, that the month of January of next year 2013 will see the deletion of three zeros and the replacement of the currency, while September will see the next 2012 direct printing the new currency in different categories.

The central bank was accused, in (12 September 2011), government bodies obstructing the monetary reform and vowed loaded persecuting those actors responsible for exposing the financial interests of the country to danger.

What was seen as an adviser to Prime Minister for Economic Affairs (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 of Iraqi dinars to replace them in light of the planned 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

The Editor: Mustafa


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