Iraq plans to delete three zeros to facilitate financial tra

Iraq plans to delete three zeros to facilitate financial tra
by admin » Thu Feb 16, 2012 1:41 pm

Iraq plans to delete three zeros to facilitate financial transactions



Palm - Deputy Governor of Central Bank of Iraq appearance Qasim today that Iraq intends to amend the categories of the dinar by deleting three zeros to facilitate financial transactions.

The denominator in a media statement that he expected the use of categories of the new currency in the market within three years, explaining that the goal of this process is to facilitate the payment system and it will not affect inflation.

Investors complain that the economy of Iraq, which is still subject to a high degree of central planning suffers from administrative and procedural complexities that most transactions are in cash.

Kassem said that the planning and preparation stage of reform has been completed and that the proposal will be submitted to the government next month, and added that it would require parliamentary approval

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