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Form a committee to study the deletion of zeros from the currency
24/05/2012 0:00
BAGHDAD - Al Sabah
gave the central bank, yesterday, a proposal to form a joint committee shall study the decision to delete the zeros from the currency. The deputy governor of the Central Bank of the appearance of Mohammed's "Centre news for the Iraqi Media Network" yesterday: The proposal, sent to the Government for the formation of a committee to study the application of the decision to delete the zeros from the currency, comprising representatives of the Central Bank of Iraq and the Council of Ministers and Vice specialists from Parliament.
added Saleh: "The process of removing zeros from the currency is the restructuring of the coin, and reduce the amount of circulation, pointing out that the deletion of the three zeros reduces and throwing the mean and reduces the number of securities traded.
He explained that the issuance of a new currency must be commensurate with the new phase in which it operates Iraq to overcome the conflicts and wars, and the need to reduce inflation and the amount of money transferred by Iraqi banks. "
The Finance Committee of the House of Representatives has recommended the central bank to provide a feasibility study for the project to delete the three zeroes from the local currency.
confirmed the Iraq Stock Exchange that the deletion of zeros from the local currency hurt in stage the current level of stock trading in the Iraqi market for securities.
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