Finance to Support the Issuance of New Currency Categories

On Wednesday, a member of the Iraqi Parliamentary Finance Committee Majida Al Tamimi issued a press statement that adopting new monetary policy would provide an ease to the Iraqi citizens when carrying their currency. She also stressed that the current atmosphere is suitable in order to replace the currency or execution of the project of deletion three zeros from Iraqi dinar currency. She further added in her press statement that we have experienced financial corruption in printing new currency banknotes of large amount of 50 thousand Iraqi dinars and 100 thousand Iraqi dinars.

The Iraqi Central Bank planned for printing new Iraqi dinar currency to provide facilities for the Iraqi citizens to carry small quantity in weight but larger amount of currency with them. She also added that the time and environment is more feasible for execution of the project of elimination of three zeros from Iraqi dinar or printing new large amount of Iraqi currency. Point to be noted that these kinds of projects needs more secure environment, better security conditions and economic stability in providing excellent technology. It would enable Iraqi people to replace their old and scattered currency into new and more secure and long lasting currency. The CBI also announced a few weeks ago that new Iraqi dinar currency will be circulated in the Iraqi markets very soon.

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