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CBI: Commencement of the examination to provide legislation to legalize the process of removing zeros from the currency


Sara Johnson
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Tuesday January 31, 2012

CBI: Commencement of the examination to provide legislation to legalize the process of removing zeros from the currency

Baghdad - and babysit - The Central Bank of Iraq 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 zeroes from the local currency, stressing that its law gives him the powers of a change in their local currency.

This comes at a time confirmed the Parliamentary Finance Committee, the central bank lingered 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 inflation. 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.

It 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 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 Council of Ministers for the involvement of ministries and agencies in the process of deleting the requirements of the zeros to prevent harm from the process."

Saleh added that "the central bank is considering sending 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 continued that "the proposed deletion of 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 replacement period" ... P / i

http://alrayy.com/41647.htm

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