Economic: delete the three zeros from the currency will not see the light after sacking Shabibi

Wednesday, 17 April 2013 16: 50

Twilight news/ decision ruled out Parliament's Economic Committee, mehma Khalil Wednesday, three zeros are omitted from the Iraqi currency during the next year, they returned to the changes of the Central Bank of Iraq may prevent the process of restructuring the national currency, as well as a previous request to the Government to wait to start the changeover procedure.



He was a member of the parliamentary Finance Committee, Abdul Hussein Al-yassiri had announced earlier that the Central Bank, according to official correspondence begins this year with three zeros deleted from the local currency, saying it will lead to the development of international economic and monetary transactions.

Khalil said in an interview for "Twilight", "delete project three zeroes from the Iraqi currency had arrived from the Central Bank to the parliamentary Economic Committee earlier.

However, Khalil said that "the Iraqi Government has asked to wait to start the project with arguments and pretexts, although its implementation and the restructuring of the currency is purely economic, as well as projects that contribute to the safety of the national currency".

And finds that "the policy of the Central Bank today is unsuccessful, it did not succeed in lifting the embargo on Iraqi dinar, and the issue of currency as it was unable to keep the currency within the environment.

Description of the Economic Committee decision "in the interest of Iraq to Iraqi currency structure and delete the three zeros which is a draft economic and vital to maintaining currency from counterfeiting and corruption."

Khalil said that "there is a giant international companies willing to implement this project, special for Iraq", noting that "Iraq is not the only country that is restructuring the national currency, has made Turkey, as there are many States that its economy exhausted you restructure the national currency".

"The printed forms of the new currency (after deleting three zeros) containing half and five dinars dinar and ten dinars, 25 and 50 dinars, around the country and civilization", stating that "If deleting zeroes the value would be equal to one dollar per dinar.

And on the possibility that next year the birth of new Iraqi currency, "said Khalil as the Economic Committee and the Central Bank is linked with us, we asked the Bank to keep this project going, but by saying" the Government called for a wait, and I see the Central Bank changes and a new Governor appointed agency means that this project will not see the light until next year. "

The Iraqi Government decided to end the October of last year, the appointment of the head of the Office of financial supervision Abdel Basset Turki instead of Sinan Al-Shabibi article by Government decision, following criticism by the parliamentary Finance Committee relating to the mismanagement of funds to other bank officials, Al-Shabibi.

The CBI had said last August it planned to delete the zeros of the Iraqi dinar to facilitate financial transactions made through criticism most often.

Among the difficulties facing Iraq if he wanted to delete the zeros of the dinar is pulling about 30 trillion dinars circulating in the Iraqi market is then discarded and replaced with a new currency.

The Finance Ministry dismissed the earlier delete zeros from the local currency in 2013 because the budget is calculated in the current currency.