Deputy: draft deleted the three zeros did not lead to stronger foreign currencies dinar
Date: Sunday 20-11-2011 09: 22 am
Baghdad (newsletter). Demonstrated financial Committee member and MP for/Kurdistan Alliance/Risalat Najib draft deleted three zeros from the currency does not strengthen the Iraqi dinar against foreign currencies, saying he was a mere formality for the restructuring of the currency.
Najib said in a statement to a reporter (News Agency news) Sunday: draft deleted three zeros from the currency does not increase the value of the Iraqi dinar against foreign currencies but formality to restructure the currency and reduce the money supply in circulation.
Najib said: draft delete zeros of Iraqi currency will make it easier for banks, banks, merchants and owners of large amounts of process transfer I finance them from one place to another, contrary to what is now the current currency that they were replaced with foreign currency.
Najib said: the objective of this project is to restructure the currency and making them more heavily traded by investors and Iraqi banks away from foreign currency trading as reduce the money supply, currency and continued to say: this project provided as proposed by the Central Bank of Iraq had not informed the Iraqi Parliament fully detail both event only meeting between the Department of the Central Bank and the parliamentary Finance Committee and stressed that they intend to implement this project.
And invited Member of the parliamentary Financial Committee not to rush to implement such a large project with a few time but should be examined in detail to identify the positive and negative aspects, emphasizing: the need to raise awareness through citizen media to how to Exchange and use.
Deputy Central Bank Governor Mohammed appearance told earlier) for news News Agency): the draft deleted three zeros from the currency is not affected by any criticisms, noting that a national project to be implemented, and continued: many countries in the world has gone through this experience and have successfully applied and exceeded all conflicts and decline in economic reality.
He Mohammed Saleh: the project will be further examining more and demonstrate understanding of wadahah to the public and that the draft I ", but long-term needs a long time to apply", likely to be applied more than one year from now.
"Truth is everlasting, but our ideas about truth are changeable. Only a little of the first fruits of wisdom, only a few fragments of the boundless heights and depths of truth, have I been able to gather"