CBI is ready to drop zeros but he would like additional year to implement

Finance Committee Member acknowledges CBI is ready to drop zeros but he would like additional year to implement

The parliamentary Finance: Central Bank needs another year to replace currency   The Committee of Finance in the House of Representatives, Friday, support for the replacement of the existing currency, while the central bank’s readiness required for this step, confirmed that the bank needs another year to begin the process of replacement.   He said Haider Abadi, Chairman of the Committee in an interview for “Alsumaria News”, “project a good currency exchange provided that the central bank is ready for this step and carried out meticulously,” stressing the need for the “Bank procedures are correct and good.”   Abadi added that “the Commission was with the switch currency over the past year 2010, if the bank Mthai for such a procedure,” adding that “the central bank needs another year to begin the replacement of the currency.”   He said that al-Abadi, “the Finance Committee with the application is not hasty,” stressing the importance of the “stand in front of the switch process of fraud and not re-circulation of the dinar damaged.”   The Finance Committee of the House of Representatives announced (11 July present), a willingness to clarify the reasons for the Council of Ministers on the frequency of switching the currency in spite of the Iraqi Central Bank confirmed its ability to that of the occurrence of fraud affecting the national economy.   And was a member of the Finance Committee’s parliamentary Najiba Najib announced (the third of July, current), that the budget next year 2013 will be the new currency after deleting three zeros from the current currency, arguing that the reluctance of traders and companies from trading in Iraqi currency behind the adoption of the Central Bank of the project to delete the zeros.   Hosted the Parliamentary Finance Committee, in (26 June), Deputy Governor of the Central Bank of the appearance of Mohammed Saleh to discuss the mechanism that will be followed by the bank in the process of deleting zeros and how long this process and the variables that will occur on the exchange of currency.   He was a member of the Finance Committee Haitham Jubouri revealed on 15 May 2012, that the month of January of next year 2013 will see the deletion of three zeros and the replacement of the currency, while September will see the next 2012 direct printing the new currency in different categories.   He accused the central bank, in (12 September 2011), government bodies obstructing the monetary reform and vowed loaded persecuting those actors responsible for exposing the financial interests of the country to danger.   What was seen as an adviser to Prime Minister for Economic Affairs (25 August 2011), to raise zeros from the currency is the biggest corruption in Iraq if it was during this period, and fall under the name of tampering with the economic, warning of “mafias currency” is preparing to rig the trillions of Iraqi dinars to replace them in light of the planned changes.   It is noteworthy that some economists believe that Iraq is ready for the time being to delete the zeros of the Iraqi dinar, pointing out that the deletion needs to be a security and political stability as well as economic stability.