CBI: we will hold the banks that we have the counterfeit currency when you switch the new currency …

The Central Bank of Iraq that it will hold any bank found in his possession counterfeit Iraqi dinar during the process of switching the currency when you delete the zeros of the three of them.

The deputy governor of Bank of the appearance of Mohammed Saleh told a news briefing that the central bank has drawn up plans described by the Court to prevent the emergence of counterfeit Iraqi dinar during the process of switching the currency, calling at the same time to accelerate the formation of committees of governmental, parliamentary and trade union to study the draft to delete the zeros, which is hoped to proceed by early next year in conjunction With the release of the budget in 2013 for the implementation of the urgent need for this national project.

He explained that the costs of printing the new Iraqi dinar would be borne by the central bank alone, without request from the government allocation of funds for printing.

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The deputy governor of the Iraqi Central Bank (ICB), Muzher Mohammed Saleh, has set a deadline for all banks in Iraq to increase their capital to at least 250bn IQD ($215m).

He said: “We asked all banks in Iraq to increase their capital this month to strengthen their dealings and give more loans.”

According to the report from AKnews, there are more than 50 banks in Iraq, with more than 800 branches spread across the provinces, a figure that is considered low compared to the size of the population.

(Source: AKnews)