Finance Committee: Central has the power to replace the currency without reference to the government

Finance Committee: Central has the power to replace the currency without reference to the government

10/07/2012

BAGHDAD / JD / .. announced that the parliamentary finance committee that the central bank has the powers of the replacement of a single currency without reference to the Council of Ministers. A member of the Finance Committee Haitham al-Jubouri in a statement to the Agency correspondent JD / Adnanar / the central bank has the powers of the currency exchange alone without reference to the cabinet that has the support of the Finance Committee under Law 56 for the Coalition Provisional Authority, which authorizes the Central Bank of the management of monetary policy in Iraq under the supervision of the Commission Finance. He added that the reluctance Jubouri cabinet comes in light of fears of the consequences of replacing the currency as there was a psychological barrier to the replacement of officials from the categories of cash and its impact on the economic situation in the country. He Jubouri: We have made the Central Bank of the Council of Ministers approached about the possibility and feasibility of the project and to disseminate the culture of currency exchange between officials before starting the project in order to avoid exposure to such obstacles and delay the project again. He explained that the Finance Committee has a full concept on the feasibility of the project and its usefulness, but it wants more coordination between the Council of Ministers and the Central Bank to ensure the smooth flow and the national project. / Finished / Mohammed Ahmed
Source: dananernews