Deleting zeros and maviat corruption and fraud
Deleting zeros and maviat corruption and fraud
03/10/2011
Younis globe soothsayers
It may seem challenging topic delete zeros an objection is not easy to contend with inflation caused by the former regime, the Iraqi currency has become something not synonymous with Arab and foreign currency because this surprising is that the stated goal behind deletion is to raise the value of the currency in the global market.
Rima, some think I stand against of deleting zeros from the currency and restoring it but what I want to say that it is possible that the deletion process to become an opportunity exploited by some almfsdben and fraudsters and could cause event, damage being pushed the Iraqi economy. under the current situation where administrative corruption and uncontrolled financial in State services, as well as possible be provided by sharecropping sectarianism and party of esoteric feature cover for spoilers and protect them from legal and accounting in Iraq remained under Item VII becomes the subject of deleting zeros from the currency currently very grave errors against the Iraqi economy as a result of the deletion process will magnify large recognized experts that the process of deleting zeros will be an opportunity for fraudsters to introduce large quantities of counterfeit currency to banks and replaced with the new currency will inevitably exploit the corrupters of this process the worst exploitation.
The country has experienced many tragedies and experiences should serve as lessons for the future so be cautious about repeat what happened in the process of altering of currency that was named named (naturally) which was used by citizens in a time previous to the current currency system where corrupt replacement counterfeit currency to calculate some traders and counterfeiting rings it is not surprising or farfetched that currently government uniforms and wear rings stalking date arrival process delete zeros to pounce on banks and replacement of counterfeit currency with a new currency As in the year 2003 as the country's present reality offers a large number of bands of forgery and promoted by some neighbouring countries to support these gangs in order to create confusion among our people and unmask them and postpone deletion until an appropriate time.
Days before the Iraqi Central Bank announced that 2013 will delete the zeros and the current currency switch that formed large cash block worth 30 trillion dinars, according to the Bank is what that is in accordance with the plan and therefore the ECB strategy of deleting three zeros and changeover date should be implemented at the beginning of new year and a new budget for the Iraqi State and must be a reasonable time to inform the citizen deleting zeros thus switch currency in the new fiscal year to 2013 or The following year would be an appropriate period.
The zeros added to the currency led to the deterioration of the currency in Iraq as well as confirmed by the financial experts of a weakness in the efficiency of monetary exchange and the monetary institutions currently errors in accounts and records due to the high numbers of currency that is difficult to read.
We must say that the current Iraqi currency formed large cash block arrived 30 trillion dinars, while the number of securities traded in the market to four trillion after paper money supply are 25 billion dinars in 1980 while the biggest currency in Iraq at the present time (twenty-five thousand) is equal to 21 dollars and thus unable to cover the payments.
The process of deleting zeros and currency changeover must publicize its importance as an administrative reform process of the Iraqi currency and therefore does not affect the value of things or change the per capita income and there is no reason people are reluctant to delete the zeros that fear is a psychological fear this process applied in 53 countries including Turkey when deleted six zeros from the currency and Romania, which had been deleted four zeros.
The Government and by Prime Minister Counsellor for Economic Affairs, said Abdel Hussein Al-Anbuge (25 August 2011), to lift the currency will be more zeros process corruption in Iraq if it was during this period, under the name absurd, warning that its work preparing for faking maviat trillions of Iraqi dinars in light of the upcoming changes to substitution that Iraq is not initialized at this time to delete the zeros of Iraqi dinars where deleting zeros needs political stability and security in addition to economic stability.
There is also opposition in Parliament where counting Financial Committee member Abdel Amir almeyahy applying the Bill to delete the zeros of the Iraqi currency currently negative in the absence of security and economic stability in the country had almeyahy that delete current currency zeros being discussed in the Finance Committee and is expected to be implemented early next year but on the other hand, it has negative effects at the moment the country unstable economic and political security, and that prove him regional ocean Of variables.
That Parliament, through its financial confirmed that the draft law in the light of the current study is supervised by specialists in economic ‘ there are studies that were placed by advanced European institutes to learn from their experiences in this area but there was opposition to some members of the Finance Committee to implement this project at this stage there are claims deferred to beyond the political stability and economic security for fear of fraud targeting the Iraqi economy and currency substitution accompanied by neighbouring States on the Iraqi economy and destroyed during the replacement process Current currency with new ones where facts and indicators confirm that the neighbouring and other States will pump fake currencies for control of the Iraqi economy through empty Iraqi currency of their purchasing power and control of these States on the financial situation of the Iraqi currency substitution process also charged state new financial burdens in the operations of course this process don't want the risk of inflation, which was accompanied by most of the views, therefore, confirm that the replacement process time is incorrect, according to the citizen's Exchange to The switch and its claim to provide services and preferably replaced currency after settling Iraq economically
And politically.
We must recognise that renaming categories Iraqi currency/lifting zeros/necessary and crucial to the reality of the Iraqi economy and received broad popular support is to the mind the country's currency strong supported by Golden cover as well as being in favour of the Iraqi national economy in the long term through the fight against inflation and support the banking system and help determine the size and how the distribution of wealth in society and liquidity control and create financial surpluses are used in funding as well as increase awareness of banking. Therefore, the Central Bank of Iraq, in cooperation with the Government, preparing instructions governing the replacement of currency as it is within the calculated timetable, so the new currency is traded with the old the old currency to be withdrawn from the market because the delete operation directly contribute to the lifting of currency exchange value and the rehabilitation of the old national currency as an important pillar and Foundation of State sovereignty and national identity as well as that grant him this action from positive results in particular increased citizen confidence in the new currency; And adopted as a repository for value, this procedure will have a significant impact in reducing inflation in the Iraqi economy and raise the value of the Iraqi currency ranking prestige in the Arab and international reality and to ensure the success of this procedure must be based on the Iraqi Government to eliminate structural distortions in the economy of Iraq, especially in part exchange, prices and wages, must be increased coordination between fiscal policy and monetary policy and reducing government spending to curb inflation which happened due to structural reasons rather than cash.
The Declaration of the Iraqi Central Bank Governor on finalizing the process of lifting the zeros from the currency is in support of the Iraqi economy that reduce inflation currently is a necessary process and in favour of the economy if it is implemented in a timely manner and not currently strewn maviat financial and administrative corruption and forgery syndicates and promotion of counterfeit currency and days have revealed several years of negative situations and phenomena that must not dominate in Iraqi society, including the phenomenon of counterfeiting of currency and promotion Where security forces have arrested several bands that wanted to sow mistrust between citizen and State, the Iraqi currency fraud found fertile ground so it must have room to enter landa gate delete zeros.
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