Financial expert: Deleting zeros from the currency is a correct procedure .. but not at the present time

Financial expert: Deleting zeros from the currency is a correct procedure .. but not at the present time

Al - Zawra Newspaper
Source: Al - Zawra Newspaper
 
BAGHDAD / Nina:

confirmed the financial expert Safwan Qusay Abdul Halim, on Saturday, that the current economic situation does not allow the implementation of the project to delete the zeros of the currency attributing this, the conditions of the unstable Middle East and the possibility of a local currency are illegal looking for a way to enter the system Local banker.

"The Central Bank of Iraq is trying to restore confidence in the Iraqi currency and the introduction of the international currency market and facilitate the task of calculations by deleting zeros, stressing that the current economic situation is not allowed because of the unstable conditions in the East Middle East and the possibility of illegal domestic currencies looking for a way to enter the local banking system. "

He pointed out that "the project can disrupt the monetary policy and the value of the Iraqi dinar, so the procedure to delete zeros is a correct procedure, but the current government to choose the appropriate time to replace the currency and transparent and subject to the highest degrees of control.

The governor of the Central Bank Ali Alaq announced earlier the existence of a plan to delete zeros from the local currency, noting that "this plan needs to deliberate steps, so as not to be exploited in the work of fraud."

Al-Alaq said in a press statement that "currencies with small categories, may lead the citizen to bid farewell to banks in the difficulty of storage."

"The central bank has a future plan to restructure the Iraqi currency, including the deletion of zeros, but this plan needs to take deliberate steps, and a stable situation in full so as not to be exploited in the work of fraud and others.

https://www.iraqakhbar.com/1477397