Abadi: We are with the deletion of zeros is likely to begin replacement of the currency early in 2012
Monday, September 12 / September 2011 10:06
[baghdad - where]
The head of the parliamentary Finance Committee, Haider Abadi, that with the deletion of zeros from the Iraqi currency as an important and necessary condition that the actions to be associated with a sound and correct.
Predicted told all of Iraq [where] that "the start of the new currency to replace the beginning of 2012, wondering whether enough time remaining to the procedures associated with currency exchange, or will be extended period of time longer."
Abadi said that "a number of precautionary measures have been discussed with the Central Bank because the replacement process be successful and correct."
He said deputy state law that "one of the precautionary measures is that the currency is safer and less fraud because the old currency, and the percentage of fraud where a few, but the quantity was great Xu," The fraud case of an international and not without a state by as long as any fraud rings Valtzoar is in America, Britain and other countries. "
And Abbadi, "The new currency will not reflect negatively on the inflation situation in the country and will be dealing with finance in Iraq, the easiest and best delete the zeros."
He revealed that "the mechanism tends to replace the currency gradually and not all at once so as not to back the currency on our web site to the market again. Adding that" destruction of the old currency must be accompanied by strict measures to prevent the return of the old currency and the leakage to the market. "
He noted that "the new place that will bring the process of replacing the new currency and destroying the old currency has yet been set."
Abadi concluded his speech by saying that "the size of the Iraqi currency has become unreasonable and we are not the first country in the world to replace its currency, because many states have preceded us in this context, France and Turkey and others."
And we are talking some time ago in the Iraqi media regarding the change of currency, and issuing a new currency, and is noted that there are changes will occur in the form of new Iraqi currency, including the removal of zeros, and the inclusion of the Kurdish language to the Arabic language in the currencies.
There were conflicting reports on the feasibility of the deletion of zeros from the Iraqi currency, at a time which is regarded by some of the biggest financial corruption in Iraq because of money laundering is seen by many as the other comes in the framework of the currency reform of management system in preparation for the next phase. Ended 2