Finance Committee Member calls for restructuring of the Iraqi currency

Finance Committee Member calls for restructuring of the Iraqi currency

November 1, 2013, 10:08 pm

A member of the Finance Committee called MP Najiba Najib to the need to restructure the Iraqi currency; because the current currency is in line with the size of the Iraqi state revenues and cash currency in circulation and investment which will hopefully happen in the coming period.

It showed Najib said in an interview transferred reporter, “news agency, Iraqi”: “The currency does not suffice; because traders, whether they are companies or people who resort to deal in foreign currencies ???????? for easy carrying and trading, and added that” the biggest currency cash is from the category of “25? thousand dinars, which is not equivalent to inflation in the markets, we must provide large categories such as “200? thousand or approximately “100? dollars, as well as having the coin to cover all the requirements of the market and the citizen. “

And increased that: “drive fiscal policy is the cash level, which helps the financial system to” get small groups and large mean ???????? coin a new monetary and proportionate to the revenue which increased year after year with the growth of oil revenue, “and this in turn allows the strengthening of the country’s economy.”

And drew attention to that: “the project to delete the zeros from the currency is not as easy as envisaged by some, as it needs to be studied by the central bank and the parliament and the government and the cooperation of legislative and executive powers, otherwise there will be big problems increase the damage and cons”, stressing “the need for accuracy and transparency and sobriety destruction the old currency to avoid the faint of souls. “

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