Tuesday, 18 March / March 2014 05:28
Experts said the economy that inflation in the country behind the failure of the project SEC coins, but they added that the central bank and the banking system bear this failure because they did not Iverdaha transactions cash through distribution in government salaries or deposits held by private banks, stressing that the mintage mineral essential for project the deletion of zeros from the dinar because it was in favor of raising the value of the dinar.
A member of the Finance Committee in Parliament Abdul Amir Hussein in a press statement that "the coin has a positive impact on the Iraqi dinar, especially in the event of the application of the project to delete the zeros from the dinar," noting that "the coin will have an important role and is effective in raising the value of the Iraqi dinar" .
Hussein and put the blame for the failure of the coin, although the SEC, many of them with the replacement of the Iraqi dinar after 2003, the responsibility of the central bank as responsible for the policies and strategies of fiscal and monetary. "
For his part, the financial expert said Ghazi Kanani that "it is not possible for the coin to succeed in the country, adding that they exist in the countries of the world, both economically developed countries or emerging economies."
Kanani and pointed out that "the coin can not be used in Iraq as long as there is inflation in prices," he said, adding that "the success of the road is used to remove three zeros from the Iraqi dinar."
The expert added that he "can the central bank issuing the coin for circulation in shopping or transportation and so on," stressing the importance of the coin from where it does not consume as the currency paper. "Revealing" the withdrawal of the Central Bank of the coin (silver) after failing were sold through auctions public and some of them have been preserved in some of the banks. "
To the economist said Maytham coffee that "the coin of advantages over paper currency in terms of the lack of damage and long life, while the disadvantages lie in the weight and the weight and the difficulty of her pregnancy."
The coffee that "the reason for the failure of the coin is due to the possibility of their use is limited only to buy cheap goods," pointing out that "inflation in the prices of goods extent of the use of this currency."
He explained that "the central bank and the banking system have failed to succeed in currency trading metal in the country, through the imposition of non-distributed with salaries and not dealing by private banks and the government."
He stressed that "the success of the ways of the coin in the country is the deletion of zeros from the Iraqi dinar," noting that "this option has been ruled out until after the elections."
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