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Post by Guest on Fri Jun 22, 2012 9:53 am


Member of Finance Committee: the application of the deletion of zeros depends on political and economic stability in the country
On: Friday 06/22/2012 13:48

Baghdad (news) .. Confirmed member of the Finance Committee MP / Kurdish coalition blocs / Najiba Najib, that the implementation of a project to restructure the Iraqi currency after deletion of zeros of the three of them depends on political and economic stability in the country.
said Najib (the Agency news) Friday: The central bank completed all the procedures relating to project delete the three zeroes from the local currency and waiting the signal from the executive and the legislature to begin to implement it. She explained: that the project was postponed by the government indefinitely as a result of the political crisis experienced by the Iraqi arena and in addition to the instability of the exchange rate of the Iraqi dinar against the U.S. dollar, saying that The project depends on the political and economic stability in the country. She pointed out: to increase the value of the dollar significantly in front of the dinar during the last period to make the central bank and the legislature and the executive reconsider the project because it is a large and interest of all citizens setting calls to the feasibility of an integrated economic before its application. The Central Bank of Iraq announced in (29 September 2011) that the year 2013 will see the deletion of zeros and switch the currency, which warned him, officials and economists because of the presence of mafias currency is preparing to rig the trillions of Iraqi dinars to replace them in the light of the planned changes. has called for the prime minister's central bank to wait a project to delete the zeros of the three local currency, saying he was a big project and needs to be enough time to apply it. / Finished / 8. n. r /



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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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