The parliamentary finance committee responds to statements about removing zeros and sets a condition for raising the value of the dinar.
The parliamentary finance committee responds to statements about removing zeros and sets a condition for raising the value of the dinar.
8-18-2026
Member of Parliament’s Finance Committee, Bassem Al-Gharabi, commented on the statements and news circulating regarding the project to change the currency and remove zeros, stressing the need to deal very cautiously with this issue because of its direct repercussions on economic stability and capital.
Al-Gharabi said in a post followed by Baghdad that “changing the currency is not ordinary news that can be released without considering its repercussions. It is a highly sensitive monetary issue that can affect citizens’ expectations, the movement of money, and the dollar and gold markets,” stressing that he is waiting for an official and clear position from the Central Bank of Iraq and the competent authorities that clarifies the reality of the project, its legal basis, its economic feasibility, and the timing of its implementation.
The member of the Finance Committee added that removing zeros in itself does not raise the value of the dinar or increase purchasing power, but rather shortens the numbers and facilitates some transactions, noting that real economic reform begins with stabilizing public finances, reforming the banking sector, controlling revenues, and strengthening confidence in the national currency.
Al-Gharabi raised a fundamental legal question about the powers of implementation, saying: Can the Central Bank implement the project within its current powers, or do the implications for contracts, debts, fines, court rulings, taxes and fees require special legislation from the House of Representatives? He called for official and accurate answers to be provided before any final decisions are issued in order to preserve market stability and the rights of citizens.
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