Warning of counterfeit currency during the pumping process of changing
Baghdad (newsletter) … Economic Committee warned MP/block Iraq’s Aziz Paul, of exploiting some bands pumped counterfeit currency into the market through the process of swapping bad categories new current currency by the Central Bank, to take important steps to tighten control over the change process to prevent this.
Said Paul (News News Agency): after the failure to reach an agreement to implement a project change current currency by deleting three zeros from the current period, the Central Bank has sought to switch the current currency damaged to a new contract with a foreign company to do so.
He added: the operation must be carried out in accordance with strict legal procedures because there is economic criminal gangs specializing in counterfeiting currency use this opportunity to ask local groups forged to the market and thus affect the financial and economic situation of the country.
The Iraqi Central Bank announced, on his contract with a British company to replace damaged currency with a new, replacement will be early November next, noting that those currencies constitute only 1 percent of the currency in the market.
Deputy Central Bank Governor Mohammad Saleh appearance, “the Bank contracted with a British company responsible for printing currency to print small groups and are the 250 dinars, 1000 dinars for the purpose of replacing damaged with a new”, stating that “this company is one of the big companies that prints nearly 60% of the coins of the world”.
Citizens suffer from the difficulty of small groups of procurement markets due to damage and rupture most especially both the 250 and 1000 dinars.