Flaskback July 2012: CBI decides to change the timing of the implementation of the Iraqi currency and deleting of zeros

Posted: October 8, 2012 in Iraqi Dinar/Politics, Top Headlines
Tags: , , , , , , ,

flashback07-10-2012-15: 14

The Iraqi Central Bank decided Sunday, altering the timing of the launch of project structuring and delete the zeros of the Iraqi currency, he completed the bulk of the action, among the new currency put into circulation must be the beginning of the calendar year in which the scheduled start of implementation and not.

The Bank said in a statement issued today, and received “alsumaria news”, a copy of it, “the Central Bank considered the frequency of reports of delayed implementation of the draft restructuring of the Iraqi currency and delete the three zeros”, stressing that “the requirements of our coordination and cooperation between the legislative and executive branches led to altering the timing of departure.”

The Bank said that “this project is important and vital for our country and for our economy and society”, noting that “the bulk of the completed action on the implementation of the project”.

And the Bank should “be a new currency in circulation upon completion of print must be the beginning of the calendar year in which the scheduled start of implementation and which not.”

The parliamentary Finance Committee was outweighed, on August 9, 2012, through Attorney Haitham al-Jabouri to direct delete zeros and switch currency during July of next year, with the Central Bank removed all concerns, the Government will support this project with its own pros and cons.

And economic parliamentary Committee member Hussein almerapi (September 23, 2012), the flop in monetary policy make the country lose about eight million dollars a year, while warning that the subject delete zeros will make it easier for mafia money laundering stolen billions without feeling State, invited to study its impact on the overall situation.

He accused the Central Bank, in (September 12, 2011), governmental agencies of blocking reform and vowing to prosecute cash, blaming them for endangering the financial interests of the country.

Take the Prime Minister’s Advisor for Economic Affairs Abdul Hussein Al-Anbuge, (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 the expected changes.

Some economists believe that Iraq is not formatted to delete zeros from Iraqi dinar, noting that deletion needs a security and political stability as well as economic stability

ALTERNATE TRANSLATION

Central decides to change the timing of the implementation of the restructuring of the Iraqi currency project and the deletion of zeros

08-10-2012 08:40 AM
Free –

Iraqi Central Bank, Sunday, timing adjustment starting project structuring the Iraqi currency and delete the zeros of them, stressing that it completed the bulk of the proceedings, among that a new currency in circulation must be the beginning of the calendar year where it is determined to start implementation, not through it.

said Bank in a statement issued yesterday ‘CBI was briefed on the frequency of reports indicating postpone the implementation of the project restructure the Iraqi currency and deleting three zeros them’, stressing that ‘the requirements of coordination and cooperation between us and the legislative and executive branches have led to modify the timing of the start of implementation’.

considered Bank that ‘This project has important and vital for our country and our economy and society’, noting that ‘completed the bulk of the action on the implementation of the project’.

and the bank on the need to ‘be put new currency into circulation upon completion of printing must be the beginning of the calendar year is determined where to start and not during the implementation of the ‘.

According to Alsumaria News and was Parliamentary Finance Committee suggested, on August 9, 2012, on the San Attorney Haitham al-Jubouri be direct delete zeros and the currency exchange during the month of July of next year, and as shown, the central bank has removed all fears, it confirmed that the government will support this project After providing Baijayate and disadvantages.

A member of the Economic Commission parliamentary Hussein Mura’bi in (Sept. 23 2012), that the confusion in the monetary policy makes the country lose about eight million dollars a year, while warning that the issue of deletion of zeros will facilitate the mafia money laundering steal billions without feeling State, called to examine the impact on the overall situation. accused the central bank, in (12 September 2011), government agencies obstructing monetary reform and vowed persecuting, blaming those entities responsible for exposing the interests of the country’s financial risk.

regarded as an adviser to Prime Minister for Economic Affairs Abdullah Hussein Al-Anbuge, in (25 August 2011), that the lifting of the zeroes from the currency is the biggest corruption in Iraq if it was during this period, and fall under the name of tampering economic, warning of ‘mafias currency’ is preparing to rig the trillions of Iraqi dinars to replace them in the light of the planned changes.

noteworthy that some economists believe that Iraq is currently formatted for the deletion of zeros from the Iraqi dinar, pointing out that the deletion needs to security and political stability as well as economic stability.

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