FINANCIAL EXPERT: There will be no contention on the banks in case of replacement
Date: Mon 09/12/2011 19:46
BAGHDAD - Alaa Fadel likely an economist and financial success of the process of replacing the currency, as what has been the beginning of the year 2012 is certain he will not get any contention in the bank on that. The expert said the financial and economic Hilal Taan:
The decision to switch the currency and to delete the zeros of which was the right one, especially at the present time».
He's (Citizen): »The decision to switch the currency came after in-depth study by experts, specialists in this regard». He pointed out »that in the case of currency exchange there will be no contention on the banks, as happened during the replacement of the currency during the former regime».
He Taan »that the replacement will be smooth and without any problems because the process is in accordance with the well-studied plan». Stressing »that the new currency and financial cover quantity is limited and well-known and will facilitate all measures in this side». The head of the Finance Committee, the parliamentary Haider al-Abadi, had confirmed that the deletion of zeros from the currency Iraq is an important and necessary condition that the actions to be associated with a sound and correct.