Finance: Iraq is not formatted to delete zeros from the currency!
Citizen — Sarah al-Ubaidi
A number of financial experts warned the Federal Government that the Central Bank is implementing a project to delete the three zeros of the local currency, stressing that there are negative effects on the Iraqi economy will arise if the implementation of this project and through the spread of money laundering operations, as well as the expansion of local currency counterfeiting,
(citizen) have stopped with a number of financial experts on this subject were beginning to talk with Yassin al-Musawi, the financial expert who warned a delete three zeros of the local currency As a result of the lack of economic and financial stability in the country, in addition to the lack of control over the deteriorating security situation.
But at the same time that many Iraqi banks contains money-laundering operations and proved the existence of a number of banks are in the process of these indicators refer to the inability of the Central Bank in controlling how private Iraqi banks have the ability to control the spoilers!!
Who started preparation for this project, which could return them many benefits through their local currency forgery.
Musawi, urged through talking (citizen) Central Bank to carefully and not rhetoric that makes many citizens and investors fear their money and turn to the dollar because they face guarantee more than local currencies.
In turn, financial expert said that the application of this almtallbi beauty in Iraq is not valid because it would create a situation of economic and financial instability, which will lead to increased demand for the US dollar and reduced the value of the Iraqi dinar, in addition to that there will be money laundering and corruption.
Student demands with through (by) the Federal Government to expand the study of this subject through participation with world experts and benefit from the experience and training of staff and convince the Iraqi citizen this process and work to expand dissemination of declarations through audio and video and even through mobile phones to send messages to the citizens and learn how it is possible to achieve positive results deletions on the Iraqi economy.
Stressing that the time was not suitable to the Central Bank to launch this project, calling for the Elimination of corruption in banks, non-governmental and financial and economic stability, and stressed the need for action to increase the proportion of reserves because they are not reassuring.
on a related level, said head of banking and financial Sciences at the Faculty of management and Economics at the University of Mosul Bashar alshkergi that the application of the decision to delete the zeros of the Iraqi currency, the country's current circumstances would have significant negative effects on Iraqi economy, saying that this resolution will address inflation economic and financial situation in the country superficially, adding in a statement that alshkergi deletion of zeros will not contribute to the Iraqi dinar re-evaluation of what it was before 1980, when it was equal to the US dollar,
noting that the decision would increase inflation unexpected proportions and great beyond the ability of the Central Bank and the Government of Iraq, to be borne by the simple alshkergi to invited to apply this decision after addressing all the problems afflicting the Iraqi economy which relies primarily On revenue severely disrupted oil only after all other sectors,
pointing out that there is a similar global experiences under delete zeros from the currency it was great failure in applying the countries as Argentina and Brazil. some economists believe that Iraq is not initialized at this time to delete the zeros of the Iraqi dinar, noting that deletion requires political stability and security as well as economic stability.
"we aspire in the near future to the return of Iraqi dinar to what it was in the seventies and the beginning eighties against the dollar" - Dr. Shabibi
“I just did my job...You either get them out alive or you die trying. If you don’t die trying, you didn’t try hard enough." - Marine Sergeant Dakota Meyer, Medal of Honor recipient