Finance Committee Member appeals to GOI and CBI saying, Changing the currency and delete the zeros alone will eliminate fraud
Finance Committee Member appeals to GOI and CBI saying, Changing the currency and delete the zeros alone will eliminate fraud
5/4/13
The parliamentary Finance Committee, called on Saturday, the Iraqi Government and the Central Bank need to delete zeros and project replace the existing currency as old and forgery.
Committee member MP Abdul Hussein Al-yasiri in Baghdad/news “Iraq needs a new currency is clean and not faking the ancient coins are consumed after long circulation which has become easy to forgery and counterfeiting also occurs.
Al-yasseri said that “the draft late zeros deleted for various reasons is one of the most important projects that support monetary policy in Iraq as a new currency put strong and resistant to counterfeiters to reduce the size of rolling of banknotes and facilitate cash accounts in Iraqi banks.
He was expected to start the project this year, but the new Governor was persuaded to postpone the project for unknown until now. “ The CBI had confirmed that the draft delete zeros from the currency will begin in the new fiscal year starting in 2014 instead of the current year, while resolving the matter and completeness of its aspects that cause the postponement of the implementation of the project was to not finish necessary preparations in addition to the Government’s request the Bank wait.
albaghdadianews.com
