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The Iraqi government rejects the deletion of zeros from the dinar
Source:
BAG HDAD - «statement»
Date: September 19, 2011
Said economic adviser in the Iraqi government Anbuge Abdul-Hussein, that the process of deletion of zeros from the local currency (dinar) will increase the phenomenon of money laundering, and is working to convince the central bank need to stop working on the implementation of the project.
Anbuge said in a press statement, the Iraqi government informed the Central Bank of the existence of a risk to economic security in the event Bank insisted on the deletion of zeros from the local currency.
He added that this process costs time and effort of the government and the central bank raises the level of fraud of some terrorist groups to carry out the smuggling of money out of the country.
The Central Bank of Iraq announced on June 23 last for his willingness to delete the zeros of the Iraqi currency, and as he emphasized that this step is one of the strategic functions of the Bank, pointed out that the new currency will contain the Kurdish language in addition to Arabic and English.
The Central Bank of Iraq four branches in Basra and Sulaymaniyah, Irbil and Mosul, where established bank independent Iraqi under the law of the Central Bank of Iraq issued on the sixth of March / March 2004, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and management of foreign reserves and the issuance of and currency management, as well as to regulate the banking sector.
The main tasks of the central bank in managing monetary policy in the country and raise the level of the values of the Iraqi dinar and tackle inflation in the country.
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Source:
BAG HDAD - «statement»
Date: September 19, 2011
Said economic adviser in the Iraqi government Anbuge Abdul-Hussein, that the process of deletion of zeros from the local currency (dinar) will increase the phenomenon of money laundering, and is working to convince the central bank need to stop working on the implementation of the project.
Anbuge said in a press statement, the Iraqi government informed the Central Bank of the existence of a risk to economic security in the event Bank insisted on the deletion of zeros from the local currency.
He added that this process costs time and effort of the government and the central bank raises the level of fraud of some terrorist groups to carry out the smuggling of money out of the country.
The Central Bank of Iraq announced on June 23 last for his willingness to delete the zeros of the Iraqi currency, and as he emphasized that this step is one of the strategic functions of the Bank, pointed out that the new currency will contain the Kurdish language in addition to Arabic and English.
The Central Bank of Iraq four branches in Basra and Sulaymaniyah, Irbil and Mosul, where established bank independent Iraqi under the law of the Central Bank of Iraq issued on the sixth of March / March 2004, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and management of foreign reserves and the issuance of and currency management, as well as to regulate the banking sector.
The main tasks of the central bank in managing monetary policy in the country and raise the level of the values of the Iraqi dinar and tackle inflation in the country.
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