Parliaments integrity committee discusses with Minister of Finance, Governor of the CBI the issue of deletion of zeros and the proliferation of counterfeit currency
Wednesday, February 22, 2012 16:21
Parliaments integrity committee discusses with Minister of Finance, Governor of the CBI the issue of deletion of zeros and the proliferation of counterfeit currency Hosted the Parliamentary Integrity Commission today, Finance Minister Rafie al-Issawi and Central Bank Governor Sinan Shabibi and Chairman of the Integrity Agency Alaa al-Saadi, a number of investigators to discuss a number of important laws and decisions. “ A source within the Commission told all of Iraq [where] said Wednesday that “The discussions centered between the Integrity Commission and the Parliamentary Finance Minister and Central Bank Governor and Chairman of the Integrity Agency on the issue of deletion of zeros and prevent the introduction and spread of counterfeit currency.“ And since we are talking about changing the period of currency, and issuing a new currency, and are to note that there are changes will occur in the form of new Iraqi currency, including the removal of zeros, and the inclusion of the Kurdish language alongside Arabic in the currency. The officials at the Central Bank as well as some politicians and economists urged the government to delete the zeros from the currency and the issuance of new currency denominations large cash in addition to the presence of small coins. Observers say that the government intends to delete the zeros from the currency as a step towards improving the purchasing power of the Iraqi dinar is that economists played down the importance of this step, considering that the cost of raising the zeros will be greater than the expected benefit of raising the zeros. “ He was an adviser to Prime Minister for Economic Affairs Abdullah Al-Hussein Anbuge had warned earlier in the process of removing the zeros from the currency as it would cause big problems and events confuse the Iraqi economy.