Economist: Lifting of the Zeroes Is Correct; Is in the Interest of Raising the Value of Iraqi Dinar
|November 24, 2011||Filled under Featured Article|
Said economist Mohammad al-Samarrai, said to raise three zeroes from the Iraqi currency a very correct and is in the interest and the purpose of raising the value of the Iraqi dinar against other foreign currencies as dollar.
Explaining, for example, all Iraqi dinars would equal approximately $ added to the Masatertb that enhance the confidence in Iraqi dinars by local and foreign investors alike.
The particular importance of this procedure to move a major economic development and financial added to the reduced size of the vast amount of Iraqi currency and try to return toward the admissibility of the Iraqi dinar traded globally a feature that denied and lost long ago.
Added to the importance of learning the true size of the currency in circulation and the exclusion of counterfeit and damaged ones and restricting circulation within the country only accurate.
This in turn draws monetary and fiscal policy correctly, which will reflect positively on economic and development plans of the country.
This I consider Abdul-Hussein Ankpa Adviser to the Prime Minister for Economic Affairs raise zeros from the currency is the biggest corruption in Iraq if it was during this period and fall under the name of tampering with the economic warning mafias currency is preparing to rig the trillions of Iraqi dinars to replace them in the light of the planned changes.
Conditioned samurai action in conjunction with the lifting of zeros for the success of this process, noting that the most important conditions is to support the private banking sector and to facilitate the procedures and controls domestic and foreign investment in addition to expanding activity of private banks and prevent its transformation to the homes of asthma through the granting of interest on the investment the night and push banks toward the exercise of investment banking other and work to overcome all the obstacles which stand without it, whether to amend the Banking Act in force or encourage the institutions of the state to deal with the private banking sector.
Add to prevent the accumulation of bank balances in government without the exploitation of this mass of cash and encourage the use of modern technology in the banking business to keep pace with global development and the reduction of use of cash and the trend towards the use of electronic cards.
And declared the Iraqi Central Bank Governor Sinan Shabibi independent bodies during a meeting with Prime Minister Nuri al-Maliki’s willingness to create all the supplies to the process of removing three zeros from the Iraqi currency.
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