Finance: do not oppose the project to delete zeros from the currency .. And postponed for technical reasons

Parliamentary Finance: do not oppose the project to delete zeros from the currency .. And postponed for technical reasons

Author: Al Bayan wrote: March 17, 2013 : First
Baghdad / Ahmed Sadiq

Renewed parliamentary Finance Committee no objection on the implementation of the project to delete the zeros of the current currency to reduce the numbers of trading and shorten transaction calculations, conditioned the application of some items and add them to the new law.
said member parliamentary Finance Committee Abdul Hussein al-Yasiri in an exclusive statement (statement): The Finance Committee announced no objection since the beginning put forward the idea of the project is still, but it required the inclusion of some new paragraphs of the draft resolution, which believes the government represented by the Ministry of Finance, and sectors and citizens do not occur any losses and spare the citizens and banks any breaches get through counterfeiting of the new currency, especially that costs would be prohibitive Each of the citizen and the bank and not to repeat what happened at the last change after the fall of the former regime and its currency earlier. added Yasiri The Commission has proposed opening for change and trading dual both currencies so that the citizens end their financial transactions related with private and public sectors and to prevent confusion legal on debts public between citizens.
He said the members of the Finance Committee expressed their willingness to respond to claims the central bank enactment of a law debts public which protects the creditor and the debtor in the event of changed currency and issue instructions procedural in this regard. And that the said project is one of the most important projects emerging Iraqi economy as reduces the volume and numbers calculations used in banking transactions and consumes time and effort, as well as re-Iraqi currency to its normal size as the currency current unfit for citizen not designed to be carried pocket due to the size of rolling them, as the strategic central bank to reduce the size of rolling units cash than 4 billion units to one billion units a very good thing as well as the introduction of coins large up to 100 thousand dinars are transactions large.
, however, but the fears that delayed work on the project is the fear of currency counterfeiting and the consequent problems besetting the national economy at the current stage what requires finding protection campaign new and intensify the role of economic security and the security forces in general to prosecute counterfeiters and Menthazee opportunities.