Economic Committee Member call on CBI to start currency structure project; Deletion of Zeros

Posted by on Oct 28, 2013 | Leave a Comment

Mehma Khalil called Central Bank currency structure project
August 8, 2013 In economic

Baghdad: Iraq news network called the Parliamentary Commission on the economy and investment the Central Bank of Iraq, the need to delete the zeros of the Iraqi currency after the land was available and exit Iraq from Chapter VII, and the economy is expected advantages and the results summary of Security Council-imposed penalty.

The words of the Rapporteur of the Committee, MP Khalil mehma, in the presence of members of the Committee on the economy and investment, the Central Bank should start a currency structure as a purely economic issue.

The Attorney said that the Iraqi Constitution between the need to change and delete the currency required by the economic situation of the country, and the public good, for Parliament and the Government to support the country’s economic identity, expecting to witness the coming budgets increase and prosperity after the investment companies to Iraq, noting that Iraq is not the only country to delete zeros from its currency, the preceding example StatesTurkey and Lebanon have succeeded bestWhen the economic situation resolution deleted zeros from their currency.

the MP Khalil project delete zeros and the objections of the Central Bank and the Government of Iraq requested that wait till an appropriate time and after coming out of Chapter VII all justifications and arguments ended this project. in turn, the alaktasadet Committee member criticized Attorney Abdul Hussein abtan said project delays and the survival of the zeros in the Iraqi currency and forIs it reasonable that the Iraqi Central Bank reserves of 76 billion dollars and now dealing in thousands.

The CBI had said in August that it planned to delete the zeros of the Iraqi dinar to facilitate financial transactions made through cash. among the difficulties faced by Iraq if it wanted to delete the zeros of the dinar is pulling about 30 trillion dinars circulating in the Iraqi market is then discarded and replaced with a new currency.

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