delete zeros from currency project represents new infrastructure for country: Central Bank

[Hue Mi]

Central Bank: delete zeros from the currency project represents a new infrastructure for the country

Posted on Thursday, June 21, 2012 11: 29 | Posted by: rasan | Visits: 422

Baghdad/with: description of the Central Bank of Iraq project delete zeros from the currency as: "a new infrastructure of the country is no less important than other infrastructure."

The Deputy Governor of the Bank, said Mohammad Saleh appearance: "the project reflects the harmony of speed angashza ministries and competent State departments away from institutional work, ' isolationist value for the independence of the Central Bank if the independence high coordination with other economic institutions to build Iraq."

"The draft deleted two zeros from the currency project and delete the three zeros from the currency very successful project, as there are States of its deleted 6 zeroes because heritage economic and inflation were experienced and successful experience", adding: "the process of deleting zeros not experience of Iraq so we find that some feared them while the project has dimensions of positive rather than negative.

"The study of complete and comprehensive project completed last fall, and has been submitted to the Cabinet Economic Committee and select the date 1/1/2013 for that time to delete the zeros".

And said: "this project represents the process of reform of the system of monetary management and transition from the big numbers to smaller numbers with the same value for the currency without affecting business dealings that the changeover would be suitable for getting used to the new currency trading people".

[HumbleGenius]

Central Bank: delete zeros from the currency project represents a new infrastructure for the country

Posted on Thursday, June 21, 2012 11: 29 | Posted by: rasan | Visits: 422

Baghdad/with: description of the Central Bank of Iraq project delete zeros from the currency as: "a new infrastructure of the country is no less important than other infrastructure."

The Deputy Governor of the Bank, said Mohammad Saleh appearance: "the project reflects the harmony of speed angashza ministries and competent State departments away from institutional work, ' isolationist value for the independence of the Central Bank if the independence high coordination with other economic institutions to build Iraq."

"The draft deleted two zeros from the currency project and delete the three zeros from the currency very successful project, as there are States of its deleted 6 zeroes because heritage economic and inflation were experienced and successful experience", adding: "the process of deleting zeros not experience of Iraq so we find that some feared them while the project has dimensions of positive rather than negative.

"The study of complete and comprehensive project completed last fall, and has been submitted to the Cabinet Economic Committee and select the date 1/1/2013 for that time to delete the zeros".

And said: "this project represents the process of reform of the system of monetary management and transition from the big numbers to smaller numbers with the same value for the currency without affecting business dealings that the changeover would be suitable for getting used to the new currency trading people".

""The study of complete and comprehensive project completed last fall, and has been submitted to the Cabinet Economic Committee and select the date 1/1/2013 for that time to delete the zeros".

[MEALTICKET]

Ball in motion

[arh777]

Central Bank: the project to delete the zeros from the currency represents a new infrastructure of the country
Published on Wed, June 21 / يونيو 2012 11:29 | posted by: Rasan | Print | E-mail | Hits: 519

BAGHDAD / With: Description of the Central Bank of Iraq project to delete the zeros from the currency as: "a new infrastructure of the country at least as important as other infrastructure."

The deputy Mhaaft Bank Mazhar Mohammad Saleh: "The speed Anjazhma project reflect the harmony and the ministries and government departments concerned away from the institutional work isolationist, since there is no value for the independence of the central bank if they were not this independence with a high potential for coordination with institutions other economic to build Iraq."

He added: "The project to delete two zeros from the currency project successful and to delete three zeros from the currency project is very successful, as there are countries that removed six zeros from its currency because of the heritage of economic and inflation, which was suffering from and succeeded the experiment in which," noting: "The process of deleting the zeroes experience did not pass out of Iraq, we find that some of them in fear while the dimensions of the project has more positive than negative. "

He continued: "The full and comprehensive study of the project was completed last fall, has been submitted to the Economic Committee in the Council of Ministers, scheduled for 1/1/2013 It is the time to directly delete the zeros."

He said: "This project represents a process of reform of the system of monetary management and the transition from large numbers to smaller numbers with the same value of the currency without affecting the trading currency, because the switch would be suitable for people getting used to the new currency trading." (Finished)
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