Posted: July 24, 2012 in Iraqi Dinar/Politics
Tags: bank, Central bank, Currency, Deputy Governor, Finance Committee, London, printing, Sinan Al-Shabibi


24.07.2012 0:00

The Central Bank of the subject of printing the currency of the country of sensitive topics and talk about this to be premature, pointing out that “the draft process to delete the zeros is ink on paper so far.”

said Deputy Governor of the Bank of the appearance of Mohammed “received numerous requests to the bank Central of dozens of companies competent to print the new currency has to be agreed with any company so far as to approve the deletion of zeros has not yet made, “explaining that” the currency currently in circulation has inherently a British company, and not necessarily that the same company to print the new currency, “denying that “to be signed with any company for printing the new currency.”

The Central Bank Governor Sinan Shabibi announced that the Bank chose a British company and the other a German among the many international companies to complete the process of printing the new currency.

Shabibi said in a meeting with the Finance Committee House of Representatives that “the central bank chose a British company and the other a German among the many international companies to complete the process of printing the new currency being the Ttavan about 75% of the currencies of countries in the world, “noting that” the central bank has reserves of the currency so as to enable the process to delete the zeros and coverage significantly.”

The Information Office of the House of Representatives in a press statement that “the Finance Committee, the parliamentary discussed with Shabibi latest developments reached by the Central Bank in the subject to delete the zeros and replacing the national currency and the policy of the completion of this process,” explaining that “the meeting discuss the issue of controls adopted in the auction currency and the volume of the money supply.”

Shabibi stressed that “the main reason for the process to delete the zeros due to the economic stability experienced by the country and large cash capacity in the Central Bank.” And on the currency auction that “the process is a window to enter the foreign currency and raise the value of the dinar.”

http://bit.ly/MUmtWtTheCurrencyNewshound