13/07/2012Parliamentary Finance: Central Bank needs another year to replace the currency
Baghdad, Finance Committee in the Chamber of Deputies Friday, support to replace the current currency, while the Central Bank required ready for this step, confirmed that the Bank needs another year to begin the replacement process.
And Haider Al-Abadi said in an interview for "alsumaria news", "the draft switch good currency provided that the Central Bank was ready to move on and implement the accuracy", stressing the need to "be good and correct Bank procedures".
Al-Abadi said that "the Committee was with switch currency during the past year, 2010, if the Bank prepared for such action," he said, adding that "the Central Bank need another year to begin the Exchange.
Al-Abadi said that "the Finance Committee is not with hasty application", underlining the importance that "hold up the process before the switch would not be forgery and handling damaged dinars".
The Finance Committee in the House of representatives announced (July 11), willingness to clarify the reasons for the reluctance of the Council of Ministers on the changeover, although the Central Bank of Iraq confirmed its ability to it without fraud affect the national economy.
The parliamentary Finance Committee member Najib announced Risalat (3 July), that next year's budget in the new currency will be 2013 after deleting three zeros from the current currency, saying that the reluctance of traders and trading companies behind the Iraqi currency the Central Bank adopted draft delete zeros.
The parliamentary Finance Committee hosted, on (June 26th), Deputy Central Bank Governor Mohammad Saleh appearance to discuss the mechanism to be followed by the Bank in the process of deleting zeros and how long this process and the variables that expose the exchanged currency.
He was a member of the Finance Committee revealed in Al Haytham 15 may 2012 to January of next year will see the delete three zeros 2013 and Exchange, with next September 2012 will begin printing the new currency in various categories.
He accused Central Bank, (12 September 2011), Government of obstructing the monetary reform and vowed to prosecute those responsible for exposing, blaming the country's interests to financial risk.
As aide to the Prime Minister on Economic Affairs (25 August 2011), to raise zeros from the currency is the biggest corruption in Iraq if during this period, under the title economic absurdity, warning of "Division" is preparing to falsify trillion Iraqi dinars to replace them in the light of the forthcoming changes.
Some economists believe that Iraq is not formatted for the time being to delete the zeros of the Iraqi dinar, noting that deletion requires political stability and security as well as economic stability.
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