House feared fraud accompanies lift zeros currency (great article)

by **ADMIN** Sun May 20, 2012 4:28 pm

House feared fraud accompanies lift zeros currency

Saturday, 19 may 2012 12: 50 .

Twilight news/revealed the Finance Committee in the House, Saturday, on a conflict of views of supporters and opponents of lifting the zeros of the Iraqi currency, warning of fraud may accompany the process.

Member of the parliamentary Finance Committee for "Abdel Hussein Al-yasseri,twilight news," talk about lifting the zeros of the Iraqi currency and support views accompanied by stand against them. "

"Those who are against changing the currency are to benefit would accrue to the Iraqi economic situation when replacement banknotes of 1,000 dinars to one category of category 1 BD which means that the money supply would remain unchanged with different class."

"The problem in Iraq is mass large cash, where there are 3 trillion monetary unit, which led to that carrying money bags, carts and is not present in the rest of the world."

He was Deputy Governor of the Central Bank of Iraq the appearance of Mohammad Saleh said in an interview earlier for "Twilight" newspaper, "the Central Bank is determined to raise three zeroes on Iraqi currency, introduced its new Government and House of representatives, and is awaiting the decision of the Government and the House of representatives."

He warned Al-yasseri, "corruption of the administrative and financial operations that may accompany the process of replacing the currency when you raise zeros due process preceding the time administrator Bremer where lot of extortion of citizens."

Economists, shows that the deletion of zeros from the Iraqi currency would raise their value, and increase the purchasing power of citizens pointing to the need for calm to persuade citizens policies and get them for a period not exceeding two years.

The Central Bank of Iraq began consideration of an amendment last year dinar categories. Still much of the payments are in cash because the evolution of the banking system.

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