Babylon: the proliferation of counterfeit currency and economy eats risk destroys national currency

Babylon (News)//report … Foreshadowing the growing proliferation of counterfeit currency in Babil province by disadvantages many will strike chords remote level national economy, with people standing idly who controls destinies and undermine their money.

Babylon University economics professor Dr. Jawad Al-Bakri said (to news agency news): the phenomenon of the proliferation of counterfeit currency with significant negative effects on the national economy, they raise the rates of inflation and loss of confidence in the local currency for foreign currencies, particularly the US dollar.

And: the case of lack of confidence in the national currency that would generate economic and trading environment, and requires local authorities to take several measures to control the phenomenon and then eliminate them permanently.

Bakrie recommended to spread awareness and culture of banking and activating the role of the competent security organs to investigate information on the counterfeiting of currency and promoted the process of counterfeiting bear clear political contents and purposes of sabotaging Iraqi economy the counterfeiting of currency, in particular as regards class 10 thousand dinars is not cost effective to fake as printing costs and counterfeit banknote worth much beyond one.

Local government in Babylon, for its part, said it began since early response to this phenomenon, which indicates all information they work outside the counterfeiting of currency, while agents have promoted within the Iraqi market, including the markets of Babil province.

Mohamed Messaoudi and prefect (News Agency news): the security services keep working continuously to detect counterfeit currency entry ports of the province and by the promotion of this process, to combat this phenomenon, which stands behind foreign bodies aimed at destroying the Iraqi economy and creating the kind of anarchy within the society.

For its part, described the Chairman of the legal Committee in the provincial Council Rashid dreams the proliferation of counterfeit currency in the dangerous phenomenon of their negative effects on the economy.

Rashid despite awareness of the seriousness of the phenomenon, but it denied that the provincial Council had recently adopted measures to address them, because the Council lacks the specialized economic Committee such issues.

Rashid called on the Federal Government and the security apparatus and intelligence to tighten procedures for detection of sources of the phenomenon and address them as quickly as possible before the crisis and become out of control.

Citizens in the County, they are standing idly by and not around it and powerless against those who deliberately sabotage of the national economy and harming the citizens, especially the poor and limited income such as employees and retirees who are affected by other such phenomena.

Employee statement said: most citizens Qassem has no confidence in the national currency and banknote class 10,000 dinars because most cases of falsifications took place on this category, criticizing what he described as government deficits for addressing this phenomenon which has become alarming.

In addition, proposed banking shop owner Mohammed Al-Juburi several government actions taken to eradicate this phenomenon, including tightening border security, banks and finance companies and the mintage coins which do not accept counterfeit instead of paper currency and adoption of Iraq himself in paper currency printed by importing high-tech presses produce banknotes cannot be manipulated or fake her.