Saturday, May 19 / May 2012 12:50 User Rating: / 0

Weak Good Twilight News / revealed the Finance Committee in the House of Representatives, Saturday, for a conflict in the views of supporters and opponents to raise zeros from the Iraqi currency, warning of corruption may accompany the process.

A member of the parliamentary Finance Committee Abdul-Hussein al-Yasiri for "Twilight News", "talking about lifting the zeros of the Iraqi currency is accompanied by the opinions of other support and stand against it."

He explained that "those who stand deduced from the change are the currency on the interest that they would gain economic situation in Iraq when replacing paper reviews the category of 1000 dinars to one of category 1 dinar, which means that the money supply would remain the same with a different class."

"The problem in Iraq is a block where there are large cash 3 trillion and monetary union, which led to carry money in bags and carts, a non-existent in the rest of the world."

The Deputy Governor of the Central Bank of Iraq the appearance of Mohammed Saleh, said in an interview earlier "Twilight News" that "the central bank is determined to raise three zeros from the currency of the new Iraqi and presented her project to the government and the House of Representatives and is awaiting the government's decision and the Council of Representatives."

He warned Yasiri "from the operations of financial and administrative corruption that may accompany the process of replacing the currency when you raise the zeros due to the process that occurred the previous time L. Paul Bremer III, which received a lot of extortion of the citizens."

Economists and shows that the process of removing three zeros from the Iraqi currency will lead to increased value, and to increase the purchasing power of citizens, pointing to the need to pursue policies to persuade the citizens quiet and get used to it for a period not exceeding two years.

The Central Bank of Iraq began to modify the search categories dinar last year. And is still a large part of the payments being in cash due to the evolution of the banking system.

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