Iraq confirms the spread of counterfeit currency and powers bear responsibility banking shops

Alsumaria News / Babylon A number of shop owners in the banking Babil province, on Wednesday, the spread of counterfeit currency in the markets of the province, accused the government banks to stand behind it, took the administration of the province owners of these shops responsible for the spread of these currencies.

Said one shop owners banking preservation and named Abdullah Mahmoud said in an interview for “Alsumaria News”, “conservative suffer from the spread of counterfeit currency in which the private class ten thousand dinars, which can not be easily distinguished,” and accused the government banks to “stand behind it.”

Mahmoud added that “the majority of the money that brings us from the banks include counterfeit currency,” adding that “these banks can not take these counterfeit currency.”

For his part, another shop owner banking and named Ibrahim ÇáÍáÇćí that “the majority of the money that forged Ntdolha”, pointing out that “when we ask citizens about the source of these currencies shall be their answer from the government salary Atkadoh.”

In contrast Babylon governor said Mohammed al-Masoudi for “Alsumaria News”, “There are many banking companies is officially licensed and is currently working in the governorate,” blaming them “of counterfeit currency into the province.”

The Central Bank of Iraq was considered, in the 29 of January 2012, the proportion of currencies Iraqi counterfeit normal compared to the rest of the States, while stressing that this ratio can be known through bank deposits has, he noted that those currencies entering the market from three sources.

He accused a member of the Iraqi List Taha Lahibi, in the 28 of January 2012, Iran enter a forged Iraqi currency to buy foreign currency from the market, warning that the Iraqi government’s silence on this issue, to be devised as a post in the process.

And saw nineties last century spread counterfeit currency in Iraq after the imposition of economic sanctions on the country and the invasion of Saddam Hussein’s regime, if it leads feet Iraq to print its currency within the country to higher headline inflation reduction is unprecedented, as well as the increasing incidence of counterfeit currency at the time because of lack of international standards sober in printing.

Noteworthy that the events experienced by the country after 2003, provided an opportunity for many who would undermine its economy to counterfeiting of currency and official documents in a chaotic atmosphere administrative and non-censorship, but recent years have seen the arrest of many of them, with the situation still is controlled.