Central Bank of Iraq project to delete the zeros from the currency
Central Bank: the project to delete the zeros from the currency represents a new infrastructure of the country
June 21st, 2012 08:02 am · Posted in NEWS: Dinar Currency & World Currency News
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.” said Deputy Mhaaft Bank Mazhar Mohammad Saleh:
“The speed Anjazhma project reflect the harmony and the ministries and government departments concerned away for 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 a very successful project, as there are countries that omitted 6 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 test did not pass out of Iraq, we find that some people fear them while the project has the dimensions 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 and select a date 1/1/2013 because the time to directly delete the zeros.” He said: “This project represents the process of reforming the system of monetary management and the transition of 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.