Parliamentary Committee: The Deletion of Zeros Cause Market Turmoil
|February 16, 2014||Filled under All Dinar Trade Articles|
Expert denies postponement of restructuring the currency
BAGHDAD – Shaima Adel
Denied economic expert Majid picture postpone restructuring the currency or delete the zeros of the so-called step to prevent counterfeit currency replaced stressing approve the deletion of zeros is working to eliminate fraud.
As a member of the committee said the economy and investment representative Amer winner to the project in order to delete the zeros to prevent forgery in other currencies.
And said the picture of (time) yesterday that (a project of restructuring the currency or the so-called project to delete the zeros will be his first goal is to reduce or eliminate the process of rigging in the new currency through the use of high technology by which detect fraud currency easily) and added that the (fraud the country’s currency, the current very small and are easily detectable, but when you apply the project to delete the zeros will work to eliminate the phenomenon of fraud because the technology used in the process is high as well as the use of colors and graphics minutes as well as prevent the circulation of currency, but in the bank as well as the use of signals hidden in the process, all these things reduce fraud).
He said the picture (there is no relationship between the postponement of the issuance of the draft Haddv zeros and the process Altazor but the reason behind the postponement of the adoption of this project is due to the large number of political interference is logical in the currency, which had delayed the restructuring of the currency and thus the impact on the economy and monetary policy in the country).
He continued that (approval of this project will be of great importance as help to draw a price policy as well as the process of detecting fraud, as well as increase confidence in the currency).
Stressing (will not be making a decision restructure the currency at the moment of the deterioration of the security situation and frequent interventions in monetary policy).
So said a member of the Committee on the economy and investment representative, Amer winner, said the project to delete the zeros from the national currency still exists, but it is in order for commercial reasons, as well as the receipt of intelligence information for the creation of counterfeit currency for the purpose of replacing the new currency. He said in a statement yesterday that (the project is still in place and everything in it that he delayed not only, we want to apply the law on the first of January of 2013, but he asked later postponed for economic reasons, as it leads to a disruption in the commercial market and the general situation does not help, he asked to postpone the work).
He added that the (General Secretariat of the Council of Ministers may linger in the project, in order to the country’s economy internally and we have agreed with the central bank in order not to make a fuss in the market through the implementation of the project, and because the old currency will not fall but will continue to work out as well as the new currency for two years For example, the price of the goods specified in the new currency in the old as well as specific, and for two years the old currency intervention by the Central Bank gradually and will not leave until running out of the market).
He said the winner as he has been patient as the implementation of the project, to the receipt of intelligence information indicating that there is a coin forged many abroad in neighboring countries, and even some of them inside Iraq, prepared for the purpose of replacing the new currency, considering that the old currency will damage, so it has to implement in order to develop a mechanism to take control of this issue, and control of the border crossings.
Related Iraqi Dinar Articles-