GOI supports deleting zeros, still fears lack of knowledge. Requires CBI to present pro’s and con’s

Paradise Financial outweigh the direct deletion of zeros through July of next year

On: Friday 8/10/2012 6:08

Suggested that the parliamentary Finance Committee is the direct deletion of zeros and currency exchange during the month of July of next year, as shown, the central bank removed the fears of all, it confirmed that the government will support this project after providing Baijayate (pros) and cons.

A member of the Committee Haitham al-Jubouri in a press statement that “the Finance Committee supports the project to delete the zeros and currency exchange, and must be government involvement in this project as responsible for drawing up the financial policy of the country,” likely to “be direct this project during the month of July of next year 2013″ .

The Jubouri that “the central bank removed all fears of a changing of the currency, after warnings from the conduct of money laundering or increase the size of inflation,” noting that “the form of committees competent to control it.”

The Jubouri that “the Iraqi government did not object to the origin project, but objected to the lack of knowledge of this, “pointing out” that it will support the project after providing the positive aspects and negative aspects of the project. “

The Finance Committee of the House of Representatives have shown, in the July 13, 2012, support for the replacement of the existing currency, while a condition ready the central bank to move, confirmed that the bank needs another year to begin the process of replacement.

As announced, in (July 11, 2012), a willingness to clarify the reasons for hesitation Council of Ministers on currency exchange, although the central bank confirmed its ability to that of the occurrence of fraud affecting the national economy.

and announced by the Finance Committee’s parliamentary Najiba Najib in (the third of July, 2012), 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.

with considered the Adviser to the Prime Minister for Economic Affairs Abdul Hussein Al-Anbuge, in (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 dinars Iraq to replace them in the light of the upcoming 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.