Parliamentary Finance announces the end of the first phase of the project to delete the zeros from the currency

Saturday, 07 December / 2 January 2012 12:11

{Baghdad} Euphrates News announced the Finance Committee in the Iraqi Council of Representatives on Saturday for the end of the first phase of the project to delete the zeros of the Iraqi currency, which included the purchase of equipment for the implementation of the project.
Iraq is working on a project to delete the zeros from the currency to facilitate financial transactions in the country with the country's openness to international markets and try to attract capital and investors to contribute to government efforts to rebuild the crumbling infrastructure as a result of decades of war and siege.

A member of the Committee Haitham Jubouri, told {Euphrates News} that "the proposed deletion of zeros from the currency of the Iraqi Atksm into three phases, the first included the identification and purchase of equipment and the necessary equipment and completed the start of this year, and it is hoped that the project is completed within the next year to present the new currency in the market and is then gradually withdraw the old. "

The CBI had announced earlier that the new Iraqi currency will increase by three zeros, indicating that he had conducted an extensive study concluded that the lifting of the zeroes will strengthen the value of the Iraqi currency.

He Jubouri that "the project will cost U.S. $ 150 million, and this little amount will be offset by the profits derived by the World Bank and the State Treasury of traders who Sistgnon the U.S. dollar, which they preferred for their small size and high value, and Istbdoulh currency of the new Iraqi."