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04/11/2015
Parliamentary Finance proposes to make large cash categories
MP from the Parliamentary Finance Committee, said Haitham al-Jubouri, the committee proposed the issuance of large cash categories to control inflation and to preserve the value of the dinar against the dollar, as he emphasized that the central bank is now working to develop a thorough study on the introduction of new categories.
And between a member of the parliamentary finance committee in an interview for the "long", "The Knesset Finance has proposed issuing coins large cash denominations in order to reduce the number and maintain the value of the Iraqi dinar against the dollar," noting that "this solution was to push people towards the replacement of the dollar in Iraqi dinars in their dealings Banking or for the purpose of storage or movement, because the reason people deal in dollars to its small size and not taking the process a great deal of movement.
He said al-Jubouri said, "If we were to give recipes dollar itself into the Iraqi dinar and worked on the issuance of currency category 100 thousand or 250 thousand dinars", the "raised is just a proposal and it is not a final decision, but the Governor of the Central Bank of Iraq promised a thorough examination of the subject, and waiting for the soon be approved.
However, saying "Although the likelihood of an increase in inflation, but there must be a study of the subject of the new currency launch, and how to control inflation if it happens," expected to "measure will reduce the demand for the dollar and away by all the dollarization of the Iraqi currency and the buying and selling exchange and transactions in Iraqi currency instead of dollars.
The member of the Finance Committee that "there are a number of solutions in order to maintain the exchange rate of the Iraqi dinar against the dollar, including the opening of new and additional windows, and that is not enough for the distribution way exchange or through banks, but there must be a direct limits, especially in currency exchange places , such as airports, etc., because the traveler needs this money, or in large commercial centers to cover the expenses of hard currency and reduce the height against the dinar.
Jubouri and called for "the need to free money from the state control nor endorse the integration of private banks with government banks and hand over all these powers to the government," and urged to "edit banks, even if it's in our hands to get us out until the government banks from state control and Holnaha to private banks in order to increase the powers investment and borrowing mechanisms and setting interest rates and asked it to merge large private banks Bank within the government banks in order to be private banks imprint banking transactions within the Iraqi state.
It is noteworthy that the US dollar exchange rate has been rising for nearly a month, up to a few days ago to 1230 dinars to the dollar.
The central bank may impose a special program of tax and customs guarantees for goods, while among banking and economic shown that it came under the guidance of the Council of Ministers to determine the work of traders and keep them away from "illegal transactions in the smuggling of" hard currency.
The CBI also announced (24 March 2015), for the approval of the Economic Committee of the Council of Ministers on the proposal to accept the judge issued by private banks to pay taxes and fees of all instruments without a specified ceiling.
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