Financial Parliament: project structuring currency premature

Financial Parliament: project structuring currency premature

Created on Thursday, 18 April / April 2013 08:10

Iraqi Parliament discuss removal of the three zero's Baghdad / Orr News

Confirmed the parliamentary finance committee not to discuss the project to restructure the currency (removal of three zeroes) and reduce the incidence of fraud so far in the House of Representatives sessions usually subject to premature.

A member of the Committee Deputy Secretary-Hadi said “the draft restructuring currency is subject premature, was not discussed so far in the meetings of the Council, but there is a process or a project to delete the zeros are discussed in addition to that he is at a meeting of the Committee تضييف central bank governor to discuss the process of selling the dollar at auction public. ” For its part, considered a member of parliament MP Najiba Najib, said the draft restructuring of the Iraqi dinar currency and the removal of three zeroes is a critical necessity for being a feasible economic projects and large positive effects. Said Najib said in a statement yesterday that “the draft restructuring currency despite face challenges and difficulties, economic, security and political, but a feasibility great for the country, noting that” the project has become a necessity that must be implemented on the ground in the current term. ”

She added that “the project need to come together and cooperation of all government institutions from the central bank and the executive and the parliament to enact some laws, including the law of indebtedness, which guarantees the creditor the right to the amount that condemned after deletion of zeros.” And noted that “managing the central bank earlier, led by Sinan Shabibi and the appearance of Mohammed Saleh brought this project to a decisive endings and negotiated with solid international companies have a strong reputation in the world in terms of precision and reduce the incidence of fraud and counterfeiting of currency. ”

She said “great harmony between the institutions of the state executive and legislative measures will increase the success of the process, especially that period which will removing zeroes will take more than two years.”

The parliamentary Finance Committee confirmed that the central bank, according to official correspondences year begins procedures deleting three zeros from the local currency, stressing that it would lead to the development of cash transactions and international economic.