Finance Committee Member: Zeros can’t be dropped from currency in the current period due to poor conditions

Posted: July 8, 2013 in Iraqi Dinar/Politics

11: 11, 2013-07-08
Financial representative exclude delete zeros from the currency during the current period

Member parliamentary Finance Committee ruled out Faleh Sari delete zeros from the currency during the current period because of poor political and security situation in the country.

He said in a press statement that “the parliamentary Finance Committee has asked the Central Bank to wait on Exchange owing to the political and security conditions and the upcoming parliamentary elections, indicating that this issue will be postponed until after the next election cannot proceed with its application.

“That experience delete the zeros of the Iraqi dinar is not the first experience of its kind as some expect, but there are many experiences in the world proved successful, adding that a number of actions you should take when you start replacing the currency from strengthening the purchasing power of the dinar.

“It must permeate the deletion of zeros from the substantial technical dinar guarantee that no fraud when you change currency, adding that the process of withdrawing currency must fall within the mechanisms and procedures that include non-counterfeit currency into new currency in place, this will substantially support the Iraqi dinar to strengthen the economy.

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