Deletion of zeros: the will of the state unit condition / Raed Fahmi
Details Published on Friday, July 19 / July 2013 14:13
Issued during the past week, conflicting claims of some deputies to the Central Bank on the implementation of the project to delete the zeros of the dinar.
Some urged him to speed up the process due to the favorable conditions after the withdrawal of Iraq from Chapter VII.
As he emphasized some other need to be patient, noting that it would disrupt the state budget and embarrass the government, as well as the reality of the political situation with the approach of the elections, the House of Representatives and the intensification of fever competition and conflict between the blocks.
It is well known that the central bank had been submitted to the Cabinet late in 2011 draft professional integrated process of deletion of zeros from the dinar, and took into account the economic and financial aspects, technical and security, social, psychological, and used the global expertise and benefited from the experiences of other countries, including some of the neighboring countries and the region.
He expressed the bank at the time, his willingness to initiate the implementation of the process starting from December 2013.
but the bank returned he issued a statement in May 2012 announced the postponement of the implementation of the project, even though it completed the bulk of the necessary procedures required by the process.
He attributed the reason for the delay to the need to secure the requirements of coordination and cooperation between the legislative and executive branches.
There was no reference in the discussions and debates that took place on this issue to Chapter VII كمعوق the head, but the most important objections revolved around the inability to control and to control counterfeiting, money laundering and other areas of corruption,which can accompany the process of changing the currency.
But went some close to the center of the decision to say that it has launched the largest corruption, while accusing the central bank views the window as hinder the process of monetary reform.
Thus, the debate focused mainly on the timing of the implementation process and the availability of its conditions, particularly the availability of the will of a united crucial part of the the state in all its corners and powers to proceed with the implementation of this project,
because it requires close cooperation between the various state agencies on the one hand and between them and the citizens and the media, organizations and institutions of civil society and civil on the other.
that what we observe from the absence of harmony and consensus within the parliamentary committees specialized, not to mention various parliamentary blocs, and between the legislature as a whole,
the government and the executive branch a whole, clearly refers to the lack of requirement Qarase, which was based on him to postpone the implementation of the project in the past year.
The feasibility of the project and its importance Evoukan the potential negatives, a condition common will provide the state with all its powers.
Without it difficult to accomplish loops and various aspects of the project satisfactory manner, able to surround the manipulation and corruption processes and control them, and with them the abusive exploitation of the withdrawal process and change the currency in circulation.
It is remarkable that the statements released through the media while the parliamentary committees not subject after discussing with the new administration of the central bank.
It is also essential that clarity is available in the content and significance of the scientific and economic exact currency exchange process.
It is not the process would eliminate the inflation or growth fire, or a material change in the value of the currency and exchange rate.
But that the deletion of zeros concrete and positive impacts directly on reducing the cost of trading the currency transactions, facilitate, and reduce the risk of error associated with dealing with large numbers.
It also reduces the amount of currency in circulation, and thus the burden and costs of management and issuance.
In addition, the currency change psychological effects on the citizen and his behavior Economic and Alanfaqa, what requires to anticipate that the work of awareness, and gradually, in the implementation of the switching process.