Deputy Governor of Central Bank: the project does not need to delete the zeros of a new law and regulation but also for
On: Tuesday 03/04/2012 14:05
Baghdad (news) .. Commended the deputy governor of the Central Bank of the appearance of Mohammed that the project to delete the three zeroes from the Iraqi currency does not need new legislation but issued a regulation to serve as instructions as stipulated by the Central Bank Law.
Saleh said (of the Agency news) on Tuesday: The Bank Act Central gave full authority of the monetary authority to change the structure of the Iraqi currency, or delete the zeros of which can not be new legislation for the project to delete the three zeroes from the currency as it has been discussed twice in the House and Minister, and… became the executive and legislative branches more familiar with it, noting that the project needs to be issued regulation is an instruction published in the Official Gazette, and the Central Bank is in the process configured.
He added that the central bank cut a long way stages of the preparation and implementation of this project through consultation with the States, which fought the experience of replacing the currency after you delete the zeros of and knowledge of cons of the project and its advantages, in addition to his extensive studies, and work is still going to be implemented, likely in its implementation (01/01/2013) after obtaining formal approval by the federal government.
Salih noted: the presence of an initial consensus from all parties in the Iraqi state to implement the project, saying the project to delete the zeros Balasalahi of the Iraqi currency, as it reduces the large numbers that cause big problems in the system of cash payments of Iraq through the number of digits and the difficulty of counting Kalmbalg of up to trillions.
Deputy Governor of Central Bank: The financial situation of Iraq has become well by increasing its oil exports, so the system of cash payments in Iraq did not meet with the next phase which will see the economic development, but after deleting the three zeroes from the local currency.
The Finance Committee representative had asked the central bank put a new law for the project to delete the three zeroes from the Iraqi currency, being a large project and is sensitive and concerns the general public Iraq.
A member of the Finance Committee MP / National Alliance / Magda al-Tamimi in an earlier statement (the news): The project to delete the three zeroes of the domestic currency needs to be enough time for its implementation, and to the new legislation by the Central Bank and will be presented to the Finance Committee for discussion and then submission to the House of Representatives for a vote, and can not be implemented without the adoption of the law. / Finished / 8. d. Q /