Central Bank Act to issue calls for the deletion of zeros from the currency

On: Saturday 03/03/2012 10:11

 Baghdad / follow-up long- 
recognized Iraqi Central Bank Governor Sinan Shabibi the presence of counterfeit currency in Iraq are being traded at rates limited, calling for the House of Representatives to pass a law to delete the zeros of the Iraqi dinar and replace the currency of more sedate difficult to falsify. saw the Iraqi provinces several, including Karbala, Najaf, Babil, Wasit and Sulaymaniyah and Baghdad,

 In recent months, adjust the amounts of counterfeit currency, and detained by local authorities in these provinces specialized gangs forged currency, promotion and fraud on the citizens. 
explained Shabibi during a hearing held by the Finance Committee, the parliamentary said that during the trading monthly at the level of Central Bank of Iraq, appeared between 8 and 16 paper of a ten thousand Iraqi dinars a fake, and the same class of 25 thousand dinars. 
For her part, member of the Economic Commission parliamentary Nora Albjara told Al Hayat newspaper that its Committee listened to the comments of the Central Bank on counterfeit currency and the suggested solutions, pointing to the adoption of the provision of law to replace the existing currency with new ones after deleting three zeros from them. 
and accused regional countries facing economic sanctions, of trying to destabilize the Iraqi economy through the introduction of counterfeit currency and benefit from collecting the maximum amount of foreign currency, such as the dollar, which began running out of the market. 
The Central Bank of Iraq made ​​adjustments to their systems to sell the dollar in the official auction, because the traders and the offices of Banking remove large amounts of dollars to Iran and Syria, which applied the right to economic sanctions led to the deterioration of their local currencies worldwide, where he began the CBI claim of private banks, a document certifying their need for hard currency. 
Deputy Governor Central Bank of the appearance of Mohammed Saleh said that counterfeiting is very limited in Iraq, pointing out that the most important obstacles faced by counterfeiters is the type of paper the distinguished used to make the Iraqi dinar, as is the paper handler and resistant to dirt and longer-lived in circulation, in addition to the presence of thread safety and the watermark and the rest of security features. 
did not rule out the occurrence of forgery, because of technological advances in printing processes, and the availability of printing devices specifications HD at hand in the markets, but stressed that the presence of security features on the currency and the ability of the Iraqi banking system and the people on the discovery of fake very quickly to prevent the widening phenomenon . 
and the project to replace the currency, after deletion of zeros, Salih stressed that this project is under way and the Central will be issued a new currency exceeds specifications global currency, non-penetrating or counterfeiting. 
and warned financial authority Iraqi banking offices and corporate foreign exchange from the exploitation of their daily work for the promotion of counterfeit currency and involvement processes money laundering, officials admitted high occurrence in Iraq. 
to the head of the Economic Committee in the province of Karbala, Tariq Kikhany: that the security forces detected in a number of provinces have been active in gangs are forging currency, pointing out that these offices are not subject to scrutiny, because of the number and the Dozens of people opened offices banking, without reference to the regulations in force. 
She drew the local authorities in the province of Babylon, adjacent to Karbala, they arrested a gang of seven people, specializes in forging foreign currency, while its members are in the process promote the currency counterfeit, and seized possession of 60 thousand dollars a fake. 
The director of the beauty of the banking and foreign remittances beauty Ajili that currency counterfeit in the market, domestic and foreign, and strange to each trader naturally and can not be detected easily. 
The Council of the Iraqi judiciary in the last official census him that the 1297 judgment issued during the years the right of those accused of forgery of the currency.