Economist: Printing currency outside the banking system is counterfeiting and a heinous crime punishable by law

Economic expert Mokhtar Al-Jadeed said that printing currency outside the banking system is a polite phrase used out of place, and the correct description of the matter, if it actually happened, is counterfeiting the currency, which is a heinous crime punishable by law.

Al-Jadeed added, in statements to the newspaper “Sada Al-Iqtisadiah”, that the question is whether there could be printing of currency in the sight and hearing of the Central Bank and the Attorney General’s Office without us seeing any strict procedures or steps towards what is being circulated regarding counterfeiting the currency, and perhaps this leads us to question the validity of this matter from the beginning.

He continued by saying, “Is it reasonable that there would be counterfeiting of the fifty-dollar note and then the Central Bank would grant a grace period exceeding four months to withdraw it? This matter can only be explained by one of two things: either the Central Bank is negligent and complicit, which is unlikely, or what it is circulating about the existence of counterfeit currency was inaccurate talk.”

He concluded by saying, “In any case, the deadline, which ends at the end of August, for withdrawing the fifty-dinar note is approaching, and it will be conclusively determined whether there is actually a counterfeit fifty-dinar note or not.”