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".