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Central bank is considering legislation to provide law to the process of removing zeros from the currency
Date: Monday, 01/30/2012 18:39
BAGHDAD - AKnews
Central Bank announced it had begun to study the need of the project to delete the zeros to submit a bill to the House of Representatives for the purpose of legislation setting out the mechanisms and controls the process of removing three zeros from the local currency, stressing that its law gives him authority to make changes to the local currency.
The deputy governor of the Central Bank of the appearance of Mohammed Saleh said that «the CBI submitted a working paper for the project to delete the zeros of the local currency to the Cabinet for the involvement of ministries and agencies in the process of deleting the requirements of zeros to prevent harm from the process». Saleh added that «the Central Bank is considering a bill to the House or not because the law gives the Central Bank of implied powers to delete the zeros of the local currency». He added that «the project to delete the zeros from the currency needed to raise the awareness of national popularity and status of the regulations limiting the phenomenon of currency manipulation during the period of replacement».
And inflation is the excessive rise in the general level of prices and higher cash income as well as high costs and create excessive cash balances. And is expected to increase inflation in the budget in 2012 due to continued attention to the operational aspects at the expense of the investment part of the budget.
The Central Bank of Iraq four branches in Basra and Sulaymaniyah, Erbil and Mosul, where the established bank independent Iraqi under the law of the Central Bank of Iraq issued on the sixth of March / March 2004, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and the management of foreign reserves and the issuance of and currency management, in addition to the organization of the banking sector.
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Date: Monday, 01/30/2012 18:39
BAGHDAD - AKnews
Central Bank announced it had begun to study the need of the project to delete the zeros to submit a bill to the House of Representatives for the purpose of legislation setting out the mechanisms and controls the process of removing three zeros from the local currency, stressing that its law gives him authority to make changes to the local currency.
The deputy governor of the Central Bank of the appearance of Mohammed Saleh said that «the CBI submitted a working paper for the project to delete the zeros of the local currency to the Cabinet for the involvement of ministries and agencies in the process of deleting the requirements of zeros to prevent harm from the process». Saleh added that «the Central Bank is considering a bill to the House or not because the law gives the Central Bank of implied powers to delete the zeros of the local currency». He added that «the project to delete the zeros from the currency needed to raise the awareness of national popularity and status of the regulations limiting the phenomenon of currency manipulation during the period of replacement».
And inflation is the excessive rise in the general level of prices and higher cash income as well as high costs and create excessive cash balances. And is expected to increase inflation in the budget in 2012 due to continued attention to the operational aspects at the expense of the investment part of the budget.
The Central Bank of Iraq four branches in Basra and Sulaymaniyah, Erbil and Mosul, where the established bank independent Iraqi under the law of the Central Bank of Iraq issued on the sixth of March / March 2004, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and the management of foreign reserves and the issuance of and currency management, in addition to the organization of the banking sector.
[You must be registered and logged in to see this link.]
