Shabibi: the Iraqi market and robust fraud in the currency does not unfounded

PUKmedia Laila Al Shammari / Baghdad 

02.20.2012 18:05:07

The Chairman of the Committee of Economy and investment representative, Ahmed Alwani during a joint press conference on Monday in Baghdad, in the presence of members of the committee and the Governor of Central Bank of Iraq and his deputy, had been discussing fiscal policy and the exchange rate of Iraqi dinar and the issue of rumors and propaganda promoted recently the existence of counterfeit currency are dealt with in the market Iraq.


For his part, the Iraqi Central Bank Governor Sinan Shabibi that the Iraqi market, one of the best markets and that such a solid front of violations, stressing that the fraud in the currency does not unfounded, noting that violations of currency fraud occurring in most countries of the world.

In a related context explained deputy central bank adviser appearance of Mohammed Saleh said that the goal of Asaddaramlh new case is purely economic help to stabilize the Iraqi dinar in future phases and that the process need to be structural and will start work by 2013, adding that the Iraqi currency from currencies that have credibility in the the market.

For his part, said a member of the Kurdistan Alliance of the Committee on Economy and Investment Deputy Mahma Khalil affirmed by us regarding the issuance of new currency, which are accompanied by the deletion of zeros to be mechanisms do not affect the savings of the Iraqi citizen, and that the steps correctly with economic benefits and psychological expected to be of the Iraqi currency’s future.

The officials of the Central Bank of Iraq 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 that the removal of zeros from the currency will cause big problems and events would disrupt the Iraqi economy.