Deleting zeros will cost Iraq huge amounts of money in terms of printing and operations

Between Deputy Chairman of the Finance Committee, Ahmed Hassan Faizullah, that the project to delete the zeros from the currency does not add anything to the national economy, adding it will cost him large sums of money for currency printing operations and others.

Said Faizullah according to the Agency (news) The Economic and Finance Committees Alniabaten plan to host the central bank governor touched on important topics concerning the local currency and the national economy such as the sale of hard currency operations in the auction to reduce the smuggling of currency and money laundering

As well as discuss the project to delete the three zeroes from the currency and applicability. He explained: that Iraq does not need to switch its currency at the moment that the country is in a state exceptional and unstable fully, adding that he will to Abiv nothing to the national economy both in terms of the positive or negative, but would disrupt citizens in the process of switching the currency and will cost the state large sums of Operations Copyright and contracting with companies and transportation. Faizullah advised not to apply the project during the current period of fear and occurrence coincides economic problems with its implementation.

The Central Bank of Iraq announced (29 September 2011) that the year 2013 will see the deletion of zeros and the currency exchange, which warned officials and economists because there mafias currency is preparing to rig the trillions of Iraqi dinars to replace them in the light of the planned changes, and demanded the prime minister’s central bank to wait project Delete the three zeroes from the local currency, stressing that he is a big project and needs to be enough time to implement it.