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Sunday, July 8, 2012

CBI: Continue with the deletion of zeros despite calls to delay, wait, 8 JULY


CBI: Continue with the deletion of zeros despite calls to delay, wait



2012-07-08
Baghdad/JD/…Member of the parliamentary Finance Committee and Attorney for the State of law Coalition Haytham Al-Juburi, that the Central Bank of Iraq informed the Committee that the deletion of zeros past despite Government demands a wait …
Transfer Al-Juburi/JD/: Deputy Central Bank Governor Mohammed appearance on the sidelines of the meeting yesterday “that the Bank is in the process of deleting zeros currency will be put on the first of January or after a short period.”. He added “that the Central Bank works to persuade the Government to delete the currency switch positives zeros and put forward early next year.”.
He said the Central Bank has the right to replace the currency by regulations and instructions that authorized him to even without legislation by the House of representatives. “.
Promised parliamentary Finance Committee member and Deputy from coalition of State law to wait to put the currency requested by the Prime Minister of the Central Bank is coordination between fiscal policy and economic policy “.
The Central Bank has sent an official letter to the Iraqi Council of Ministers includes pros switch currency … She is a member of the parliamentary Finance Committee and MP for the Liberal block Magda El-Tamimi, yesterday, Saturday, for/JD/that “Central Bank Governor Sinan Al-Shabibi met with Prime Minister Nuri al-Maliki and spoke about the wait to switch currency and delete the zeros and the money supply.”.
Tamimi said “that the Central Bank in an official letter to the Cabinet of Ministers ensures the pros switch currency and delete the zeros to reduce the money supply and to facilitate business processes and other … And remedied “but the cabinet so far has not responded to the Bank’s book.”.
Tamimi said “the Government supports the Finance Committee to wait till the present time not suitable for switching currency, we fear the emergence of counterfeit currency dealers Division.”. According to the parliamentary Finance Committee member and MP for the Liberal block “switch currency after 2003 witnessed the emergence of economic Division and dealers were counterfeit currency in the market, maybe switch currency at the moment is in addition to the money supply will grow more.”.
The Central Bank has said in the past week put new Iraqi currency after deleting zeros in January. Central Bank Governor Sinan Al-Shabibi/JD/”Bank will put up new Iraqi currency after deleting three zeros in 1/1/2013.”.
He was Governor of the Central Bank has stated that “there are numerous and many misgivings on its implementation of the Bank is keen to be a safe and easy exchange.”.
The parliamentary Finance Committee revealed earlier Central Bank contracted with major companies to print the currency of high quality paper. “
She is a member of the parliamentary Finance Committee Magda Tamimi “cost actions devoted to switch currency at 150 million dollars.
She noted that the “switch currency withdrawals be gradual through the check-in process at banks,” “currency be withdrawn gradually and not once as in the previous switch.”.
Tamimi noted that “the Finance Committee as a follow-up to the work of the Central Bank and abreast of what is going on with the printing of the new Iraqi currency. “The Finance Committee member of” parliamentary speech, “Central Bank Governor Sinan Al-Shabibi” deposit in banks when switching the currency would be in one place and controlled to protect the currency from counterfeiting. “
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