Central Bank: are continuing the process of deletion of zeros

08/07/2012



BAGHDAD / JD / .. According to a member of the Finance Committee and the representative of the parliamentary coalition of state law, Haitham al-Jubouri that the CBI told the Committee that he's past the process of deletion of zeros in spite of the demands of the government to wait ..

And the transfer of Jubouri's / JD /: Deputy Governor of the Central Bank of the appearance of Mohammed on the sidelines of a meeting with him yesterday, "that the bank past the process of deletion of zeros will be put currency in the first of January or after a short time" ..

The Jubouri "The Central Bank is working to persuade the government to switch positive aspects of currency and delete zeros and put it in the beginning of next year." ..

He noted "the right of the central bank that replaces the currency according to regulations and instructions which authorized him to do so even without that there will be legislation by the House of Representatives" ..

Promised by the Finance Committee and parliamentary deputy, a coalition of state law, to wait by subtracting the currency requested by the Council of Ministers of the Central Bank is a matter of coordination between fiscal policy and economic policy, "..

The face of the central bank official letter to the Iraqi Council of Ministers includes the advantages of the process of switching the currency .. and said Member of the Knesset Finance and MP for the Liberal bloc Majida al-Tamimi, yesterday, Saturday, L / JD / "The Central Bank Governor Sinan Shabibi met with Prime Minister Nuri al-Maliki and Tbagesa about the patient as the process of switching the currency and delete zeros and the money supply" ..

She said Tamimi, "The Bank the central face of an official letter to the Council of Ministers to ensure positive process of switching the currency and delete zeros to reduce the money supply and to facilitate business operations and other ".. and tried to mend," but the Council of Ministers have yet to respond to the book bank ".. and explained al-Tamimi," The Finance Committee supports the government's demand to slow down because the moment is appropriate to switch the currency, we are afraid of the emergence of mafias and traffickers of counterfeit currency "..

The Member of the Knesset Finance and MP for the Liberal bloc" The process of switching the currency after 2003 witnessed the emergence of mafias economic and dealers Enter the counterfeit currency in the market, and possibly switch the currency in now see that in addition to the money supply will grow more "..

The most likely the central bank last week raised new Iraqi currency after deletion of zeros in the first of January. said Central Bank Governor Sinan Shabibi's / JD /" The Bank will work to put Iraq's new currency after deleting three zeros in the 1/1/2013 "..

The governor of the Central Bank has stated that" there are many procedures and many misgivings Bank is keen to implement them in order to be the process of replacing the currency safe and easy "..

The parliamentary Finance Committee has revealed in Earlier, the central bank contract with major companies to be printed currency from a high-quality paper. "

A member of the Parliamentary Finance Committee Magda al-Tamimi that "the cost of the actions dedicated to the currency exchange at 150 million dollars." ..

She noted that the "currency exchange and withdrawal be gradual through the process of deposit in banks," saying, "The withdrawal of currency be gradual and not once as in the previous switch" .. Tamimi and noted that "the Finance Committee to follow up the work of the Central Bank and to share what is going on the process of printing new Iraqi currency."

It quoted a member of the parliamentary finance committee, "a talk by the Governor of Central Bank" Shabibi "" The deposit in the banks when you switch the currency would be one place and controlled to protect the currency from counterfeiting.

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Remember this still has to go to the House of Rep's to be voted on and then it gets still to the Council of Ministers to be administered !

So there is still some steps that we are still waiting on!




08/07/2012 10:48:00


The independent Iraqi news agency / Baghdad / and. X

Confirmed member of the Finance Committee MP Najiba Najib Ibrahim, that the central bank has taken several measures to replace the Iraqi currency in coordination with the Finance Committee.

Said Najib said in an interview carried by (Iraqi News Agency, Independent) The Central Bank and in coordination with the Finance Committee has taken many measures to replace the Iraqi currency include the withdrawal of old currency over the years and handed over to the banks which in turn will deliver the currency to the Central Bank over the ten years to destroy.

She said at the beginning of 2013, will pump in the currency markets as well as the old currency, indicating that the procedures for withdrawal of currency will continue for two years, and several banks will take over the old currency in all parts of Iraq.

She noted that two years after the new currency will be available in local markets after the end of the value of old currency.


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