Currency exchange operation for the time being tainted by a lot of the big dilemmas

[trooper]

Currency exchange operation for the time being tainted by a lot of the big dilemmas

September 24th, 2011 10:10 am

The MP said Abdul-Hussein Resan on the mass of the Liberal and a member of a

committee of economy and investment parliamentary

“” The process of

replacing the currency for the time being marred by a lot of things big and if

we rely on the reasons why the Central Bank of any currency exchange we find

reasons not Mvenah if what we put in the part, the dangers that face this

process at the present time, where the central bank said the reasons the to

replace it will be an opportunity to add new features to work to prevent the

possibility of providing them.

He said to the reporter Agency Iraqi News

/ promise that the process of replacing the currency will lead to a reduction of

financial transactions and accounting, which will lead to reduce the time and

effort and cost and the crisis of financial transactions as well as providing

the dinar exchange rate against the currencies result gained the confidence of

clients, but from another point of view, we find that there are disagreements of

the largest and the most can not change the currency if the central bank turned

to it such as provision of supplies needed to change the currency Calcjlat cost

accounting and the new paper, which exceeded 10 cents or a total cost estimated

at one billion dollars and we desperately need this amount to put in the

electricity sector, or services.

“He stressed that” the central bank that

cares about the priorities of the problems raised Kaslah strengthening the

contribution of the banking and credit, let alone financial corruption and

improve the money that will accompany the process of replacing the currency and

the negative psychological impact this will have the replacement

process.

http://www.al-wa3d.com/news/details_512.html

[bostonangler]

If printing the new currency is 10 cents (if that's what this means) then the value of the currency would have to be much higher to make any sense what so ever... This whole renewed currency process seems to be designed to confuse.....

B/A

[Francie26]

Seems like an attempt to raid the CBI. He says that it would be better for CBI to give that money to the government for electricity than to use it to print new currency so they can get the dinar accepted on the world stage. Sounds like a Maliki stooge to me. If Maliki had electricity as a priority, at least downtown Baghdad would already have it 24/7. They don't, but Maliki's pockets are deep and full.