Economists then wonder the government's insistence on the use of "penny" cash as a unit
Wednesday 10 May 2017 08:06
Alsumaria News / Basra
Economists experts from the province of Basra, their surprise at the insistence of the Iraqi government to use (penny) in cash as a unit of accounting receipts for most of the institutions and departments despite the fact that "penny" of the extinct trading three decades ago.
A professor of economics at the University of Basra d. Nabil Marsoumy in an interview with Alsumaria News for, " The accounting receipts used by most government departments in Iraq , where the amounts columns are divided into two parts , one dinar and the other fils, which is surprising because the penny is no longer circulating for more than thirty years , " noting that " government accounting receipts remain unchanged reflects the extent of the failure of management thought, so that the hand of reform did not extend so far intuitive to simple details are handled thousands of times a day. "
Marsoumy pointed out that " the dirham , which enjoyed greater penny cash value is no longer used for a long time , " adding that "administrative leaders in the country if they are not able to change receipts and a small paper , how can develop the economy and achieve administrative reform."
For his part, President of the Iraqi Economists Association in Basra , Ali Alaill said in an interview with Alsumaria News for, " The world has come a long way in the application of electronic accounting systems and we are still use receipts and paper recognize fils cash as a unit , " adding that "addressing this gap does not require administrative genius nor financial allocations, but need only a simple guidance from the cabinet Secretariat to the ministries to delete a column from the penny receipts circles. "
Alaill pointed out that " the sons of the new generation do not know anything about the penny , except the old amateur currency collecting them."
The penny was one of cash categories traded in Iraq, and since the Ottoman era and even the extinction of trading was coining of copper to lower its value, it is the smallest unit of cash, and this afternoon is common ideals (not equal fils) to indicate the lack of importance of the thing, and during their occupation of Iraq period decided Englishmen in 1920 , the abolition of the penny trading with the rest of the units of the Ottoman currency, then work it back as a cash junior starting in 1932, and continued the penny in circulation until the early eighties, perhaps so far, at least in receipts and accounting records used by many government departments , including Directorates and municipal water Municipalities, education, traffic, communications and health.
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