Learn about the benefits of deleting zeros from the Iraqi currency

Central Bank: delete zeros in early 2017

Benefits:

1. The Iraqi dinar is included in the basket of international currencies and dealt with officially in the world stock exchanges and financial markets.

2. The possibility of concluding economic agreements to deal with the national currency as Iraq can enter into agreements to pay in dinars instead of the dollar when contracting deals for the establishment of production lines or transactions of import of goods and this will cover a large part of foreign transfers, which is waste of national wealth of hard currency.

3. The deal allows dealing with the Iraqi dinar in the Iraqi market and not rely on foreign currencies and their waste and bounced by the transfer abroad by the private sector and government, which is a sovereign wealth wasted abroad on small and non-essential and financial transactions in Iraq time need this wealth for storage as a reserve.

4. The manipulation of the currency exchange market and the completion of the so-called auction of currency will be eliminated.

5.satoagaf work of the corrupt shady banks and their agents and Smaserthm "" contractor and investor cartoon "

6.seetm cap higher amounts transferred abroad from the currency dollar, euro, yen and the pound sterling and the yuan and the currencies ofactive other exchange to ensure that no smuggling of the great mass of transactions of currency smuggling.

And Said the governor of the Central Bank of Iraq that the project to delete zeros will be implemented in early 2017, noting that the bank began to develop the first steps of the project

He said the keywords that "the goal of deleting three zeros from the Iraqi currency is to support the Iraqi dinar and make it a competitor of foreign currencies" , is back "This strategic project will serve the country's economy if the Iraqi dinar is included in the global basket of currencies on vital world stock exchanges," he said.

He added that "the bank is working on mechanisms for the implementation of this project is expected to begin with the beginning of 2017," noting that "the Central Bank began the first steps of the project through the selection of designs, companies and the country to which the currencies will print."


He pointed out that "the introduction of the new currency does not mean the destruction of the old currencies, but will continue to circulate for about ten years," pointing out that "this period will enable the central bank to withdraw the old currency in accordance with the dynamics and mechanics to maintain liquidity in the market."

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Learn about the benefits of deleting zeros from the Iraqi currency

Central Bank: delete zeros in early 2017

Benefits:

1. Ruling the Iraqi dinar within the basket of international currencies and deal with it officially in the world stock exchanges and financial markets.

2. The possibility of concluding economic agreements to deal with the national currency as Iraq can enter into agreements to pay in dinars instead of the dollar when contracting deals for the establishment of production lines or transactions of import of goods and this will cover a large part of foreign transfers, which is waste of national wealth of hard currency.

3. The deal allows dealing with the Iraqi dinar in the Iraqi market and not rely on foreign currencies and their waste and bounced by the transfer abroad by the private sector and government, which is a sovereign wealth wasted abroad on small and non-essential and financial transactions in Iraq time need this wealth for storage as a reserve.

4. The manipulation of the currency exchange market and the completion of the so-called auction of currency will be eliminated.

5. The work of corrupt persons from suspicious banks and their agents shall be stopped and controlled by "" the contractor and the cartoon investor "

6. A higher limit will be set for the amounts transferred abroad of the dollar, euro, yen, sterling, yuan and other active exchange currencies to ensure that the bulk of the transactions are not smuggled from currency smuggling.

The governor of the Central Bank of Iraq that the project to delete zeros will be implemented in early 2017, noting that the bank began to develop the first steps of the project.

"The objective of the deletion of three zeros from the Iraqi currency is to support the Iraqi dinar and make it a competitor of foreign currencies," he said, "This strategic project will serve the economy of the country if the Iraqi dinar will be included in the global basket of currencies in vital world stock exchanges.

He added that "the bank is working on mechanisms for the implementation of this project is expected to begin with the beginning of 2017," noting that "the Central Bank began the first steps of the project through the selection of designs, companies and the country to which the currencies will print."

He pointed out that "the introduction of the new currency does not mean the destruction of the old currencies, but will continue to circulate for about ten years," pointing out that "this period will enable the central bank to withdraw the old currency in accordance with the dynamics and mechanics to maintain liquidity in the market."

Article Credit: https://www.alrasheedmedia.com
Special Thanks to Tim Tarkington!!