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Calls for the withdrawal of counterfeit currency from the market as soon as
Date: Monday 20/2/2012 7:19
□ Baghdad / follow-up range
called for a number of parliamentarians and economists need to take stringent action against those who trade much counterfeit currency in the country, as it will lead to major problems in the national economy in terms of higher prices in the domestic market and increasing purchasing power than planned, confirming During their talk to the Agency (news) on the importance of a careful plan for the withdrawal of counterfeit currency markets to limit the danger,
In addition to activating the work of the Central Agency for Standardization and Quality Control on the Iraqi border to prevent the entry of goods inferior or counterfeit currency to reduce the phenomenon of money laundering or the depletion of foreign exchange.
The member of the Economic Commission deputy Qusay Gomaa said the continuation of trading currency, forged in the country without the necessary measures taken from by the federal government and the Kurdistan Regional Government will lead to economic disaster will affect also the work of the monetary policy of the Central Bank being in control of the size of the cash raised in the local markets.
Juma said for the Agency (news): You must develop solutions to deal with such phenomena in the country to reduce the severity He called to take the necessary measures in order to maintain economic security in the country.
He added that Iraq is dependent on international companies closer to the goods to the Iraqi border, Based on that should these companies not to allow the entry of goods inferior or counterfeit currency into the country to reduce the risk to be born as a result.
For his part, saw an economic analyst Ibrahim al-Mashhadani, the presence of counterfeit currency in the domestic market, this means there will be an increase in the purchasing power of more than planned in monetary policy, and this is what will result to increase prices in the domestic market, which is what happens far.
The al-Mashhadani, that in the event of continued circulation of counterfeit currency in the country will lead to high exchange rate of U.S. dollar against Iraqi dinar by increasing the demand to buy from local markets and this is what will lead to weakness of the Iraqi currency against hard currencies.
He noted that the fraud that occur Now she not only on criminal gangs and armed groups within the country, but there are regional countries, particularly neighboring countries such as Iran plays a significant introduction of counterfeit currency into Iraq in order to weaken the Iraqi economy and its currency, and the acquisition of hard currency of the country.
He stressed the importance of intensifying the role of security forces to fight the gangs that deal in this counterfeit currency and verification of those who aimed to destroy the Iraqi economy.
and that the process of eliminating the circulation of counterfeit currency in the domestic market will be through the project to delete the three zeroes from the Iraqi currency, which announced the implementation of the central bank early next year, through his withdrawal of counterfeit currency in circulation in the country and replace them with the new currency.
For his part, said a member of the Finance Committee MP Church Mustafa Haji should the concerned authorities to take legal action strict against those who do enter the counterfeit currency into the country and put it in local markets, as it will affect the national economy and the currency Iraq.
called Haji to the need to develop an accurate plan by the monetary policy for the withdrawal of counterfeit money from local markets to prevent the circulation in the country and to reduce the seriousness of the Iraqi economy.
He said the neighboring countries are the main source of entry of these funds due to lack of quality control on the Iraqi border to examine the goods and the money coming into the country, calling for activating the work of standardization and quality control to reduce the phenomena of depletion of foreign exchange and money laundering that these phenomena generated from import random goods.
warned against financial expert Ismail Abdul-Hussein of the spread of the phenomenon of switching of counterfeit currency for hard currency within the country because they cause serious on the Iraqi economy and the national currency, noting that most countries of the world began, "center used" the invention of special equipment for counterfeiting, particularly Iraq to fight the Iraqi economy and crush its currency.
said Abdul Hussein: that neighboring countries like Syria and Iran is suffering today from an economic blockade and the deterioration of its currency, what made them Tljian to Iraq to buy dollars.
He added that the Iraqi currency to replace them in U.S. dollars as it was valid and not fraudulent, it is a positive thing for Iraq through the recovery of the Iraqi currency to the origin, while if the fake Iraqi banks is not ready to reveal these currencies have a Khtraly Iraq in general. He called to the importance that there be complete by the readiness of Iraqi banks to detect counterfeit currency entering the country, in addition to control of the border crossings to prevent the entry of such currencies to Iraq.
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