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08 March 2012 - 10:33 p.m. {Total Visits: 244}
High Commission with the Central Bank to delete the zeros from the currency
She said the Economic Committee in the Iraqi parliament, on Thursday, it had established with the Central Bank of Iraq to a joint committee to begin the process of deletion of zeros from the local currency. Said Abdul Hussein Abtan told the Kurdish news agency that "the Economic Commission formed a joint committee with the Central Bank of Iraq on Thursday to oversee the process of deleting the zeros of the local currency, which is scheduled to begin in September next. "
He added that "the Commission will provide technical and legal requirements, administrative and paint nature of the Iraqi market and its relevance to the deletion of the currency during the stage preceding the start delete currency as well as to increase public awareness about the details of the process of removing zeros from the currency."
He pointed out that the central bank promised to be able to make a change of currency and delete zeros in order to "reduce inflation" in the country.
And the parliamentary economic committee said it had agreed with the Iraqi Central Bank to begin the process of changing the local currency in September next.
The central bank announced it was considering the requirements of the project need to delete the zeros of the local currency to enact a law governing the implementation of the project or not, indicating that he was looking this file with the cabinet because he is a national project to support the Iraqi economy.
The Committee emphasized the parliamentary Finance, last Sunday, the central bank tarry in the provision of a bill to delete the zeros from the currency to the Committee for the purpose of his study, confirming the same time the law was passed that would give Iraq an opportunity to address economic inflation.
And inflation is excessive in the general level of prices and rising incomes as well as higher cash costs and create excessive cash balances.
The Iraqi government says that the process of deletion of zeros from the local currency will increase the phenomenon of money laundering and is working to convince the central bank need to stop work on the project.
And harmony of the Securities of the government's position to delete the zeros and says that adversely affect the financial trading in the stock market.
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High Commission with the Central Bank to delete the zeros from the currency
She said the Economic Committee in the Iraqi parliament, on Thursday, it had established with the Central Bank of Iraq to a joint committee to begin the process of deletion of zeros from the local currency. Said Abdul Hussein Abtan told the Kurdish news agency that "the Economic Commission formed a joint committee with the Central Bank of Iraq on Thursday to oversee the process of deleting the zeros of the local currency, which is scheduled to begin in September next. "
He added that "the Commission will provide technical and legal requirements, administrative and paint nature of the Iraqi market and its relevance to the deletion of the currency during the stage preceding the start delete currency as well as to increase public awareness about the details of the process of removing zeros from the currency."
He pointed out that the central bank promised to be able to make a change of currency and delete zeros in order to "reduce inflation" in the country.
And the parliamentary economic committee said it had agreed with the Iraqi Central Bank to begin the process of changing the local currency in September next.
The central bank announced it was considering the requirements of the project need to delete the zeros of the local currency to enact a law governing the implementation of the project or not, indicating that he was looking this file with the cabinet because he is a national project to support the Iraqi economy.
The Committee emphasized the parliamentary Finance, last Sunday, the central bank tarry in the provision of a bill to delete the zeros from the currency to the Committee for the purpose of his study, confirming the same time the law was passed that would give Iraq an opportunity to address economic inflation.
And inflation is excessive in the general level of prices and rising incomes as well as higher cash costs and create excessive cash balances.
The Iraqi government says that the process of deletion of zeros from the local currency will increase the phenomenon of money laundering and is working to convince the central bank need to stop work on the project.
And harmony of the Securities of the government's position to delete the zeros and says that adversely affect the financial trading in the stock market.
[You must be registered and logged in to see this link.]
