The Central Bank of Iraq (CBI) continues to be the subject of investigations by the Iraqi government. They are looking into crimes or potential crimes committed by members of the CBI. The investigation of the CBI members will continue on and is very complex.
The project of introducing new Iraq currency continues to be suspended by the Iraq government and more specifically the Ministry of Cabinet. Prime Minister, Nuri Maliki, has not lifted the suspension. Everyone involved in the decision making ie. Iraq Cabinet, Parliament Finance Committee, Staff members of the CBI and other members of government have not come to a decision on exactly when they will introduce the new Iraq currency. It appears no conclusion has been determined and distributing the new Iraq
currency may commence on or between 2014-2018. This is to coincide with the next upcoming elections in Iraq. I would like to announce that I am currently back overseas working.
The New Iraq currency has not been printed. The CBI has not yet been authorized by the Iraqi government. There will not be any revaluation in the year 2012. Also, the electronic
software systems intended for the banking industry in Iraq have not been implemented. The problem is the lack of training of the software to the banking managers and employees. The training may take up to two years before you see 100% active participation.
