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Central Bank: the project to delete the zeros from the currency represents a new infrastructure of the country DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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

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Central Bank: the project to delete the zeros from the currency represents a new infrastructure of the country Empty Central Bank: the project to delete the zeros from the currency represents a new infrastructure of the country

Post by ADMIN on Fri Jun 22, 2012 10:23 am

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

Published on Wed, June 21 / 2012 11:29 |

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."

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