View Full Version : Abadi: fears of fraud and money laundering, delay raise zeros from currency process

Hue Mi
02-17-2014, 05:12 PM
Abadi: fears of fraud and money laundering, delay the process raise zeros from the currency (http://8th-day.com/archives/34553)


Agency day 8
February 17, 2014
16 reading
Baghdad ((today))

Member of the parliamentary Economic Committee, said Qusai Ali that raise zeros from the operation was postponed to another logo to fears the Government's money laundering and counterfeiting.

Al-Ibadi said: "the Central Bank offered more than a year ago to raise zeros of the Iraqi currency, noting that the laws and the articles of the Constitution did not specify the issue of lifting the zeros and no legal impediment but feared by the Government that there is fraud and will accompany the process of raising zeros."

"The World Bank said that the value of the Iraqi dinar will not change with zeros as willingness to fight fraud and money laundering in a case raising zeros but fears of fraud in the Government led to the postponement of the application of this step.

The Cabinet decided in its meeting held on 10 April 2013 wait at apply the deletion of zeros from the local currency to further notice.

The Iraqi Central Bank, the Bank adviser said the appearance of Mohammed Saleh, said Iraq needed to process administrative reform of the currency, and that the deletion of zeros is a part of the country's administrative reform process, in order to reduce the cost of cash transactions in the economic process, in addition to the need to provide money to small categories used in the trading of small transactions daily. I ended up with.