Delete the three zeros does not lead to the strengthening of the dinar

[Fearless Four]

Delete the three zeros does not lead to the strengthening of the dinarNovember 27, 2011

In this regard, a member of the Finance Committee in Parliament Najiba Najib said the project to delete the zeros of the currency does not lead to the strengthening of the Iraqi dinar against foreign currencies, saying that a mere formality for the restructuring of the currency.

Najib said in a statement to (news): that the draft deleted three zeros from the Iraqi currency is not working to increase the value of the Iraqi dinar against foreign currencies, but is a matter of formality for the restructuring of the currency and reduce the money supply.

She explained that the project to delete the zeros of the Iraqi currency will make it easier for banks, merchants and owners of large sums of money transfer money from one place to another, contrary to what it is now the currency of the current that they are replaced in a foreign currency. She pointed out that the objective of this project is to restructure the currency and make it the most heavily traded by investors and Iraqi banks and stay away from trading in foreign currency, as it reduces the bloc's monetary currency, and continued on to say: This project presented a proposal by the Central Bank of Iraq had not seen the Iraqi parliament to the details in full, whether occurring meeting just between the Department of the Central Bank and Finance Committee, the parliamentary emphasized that they intend to implement this project. and called a member of the Knesset Finance not to rush the implementation of such a large project time-a few, but must be studied in detail to find out the negative aspects and positive, stressing the need to spread awareness to the citizens through the media of how currency exchange and use.

The Deputy Governor of the Central Bank Mudher Mohammed Saleh, said earlier: The draft deleted three zeros from the currency is still exist and has not been affected by any criticism. It faces noting that a national project must be implemented, he said, «that many of the countries of the world has gone through this experience and successful in its application and exceeded all the conflicts and the decline in economic reality to them », pointing out that the project will be deeply studied more and show understanding and explained to the public and it is not legitimate real-time, but long-term needs a long time to apply, likely that they will be applied after more than a year from now .(Source) Iraq Parliment

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