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Is it time to delete three zeros from the currency?

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rocky
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Is it time to delete three zeros from the currency?

Post by rocky on Tue 03 Apr 2018, 3:52 am

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2018/04/03 11:16


(Encyclopedia of this day , news | [You must be registered and logged in to see this link.] ) -
Economy News Baghdad:


The central bank submitted a project to delete three zeros of the currency, in order to confront inflation and stimulate the economy, but was forced to stop because of the deteriorating security and political situation in the country.



The governor of the Central Bank, Ali Alallak, in a discussion session with the editors of a number of Iraqi media, including "Economy News", "The subject of deleting the zeros from the currency ready, but it needs an environment suitable to apply," noting that " To prevent manipulation and fraud by the owners of weak souls. "


The central government stands with the central bank's draft to delete three zeros of the currency, because it sees it "hurt the efficiency of the system of cash payments," according to the financial adviser to the prime minister.


"The current environment is suitable for this project because there is financial and political stability in the country, especially after the liberation of the (Daash) organization," he said.


He stressed the need not to rely on the project to support the Iraqi dinar, but "focus on the creation of all conditions that would support the Iraqi dinar and represented by political and economic stability," pointing out that "the central bank has accumulated experience in dealing with the subject."


The economist said, in the name of Jamil Anton, for "Economy News", "The current environment is not suitable for the project to delete the zeros at the moment, because the security situation has not settled so far in the ideal form."


He pointed out that "the project needs educational campaigns to be accepted by citizens and does not affect the movement of the market," noting that "the project has the benefits of reducing the amount of money used in deposits, which helps accountants not to fall in error in dealing with zeros in large amounts, As well as reduce the number of trustees funds and protect money from theft. "


Antoine predicted that the project would be implemented after the legislative elections scheduled for next May.






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Diamond
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Re: Is it time to delete three zeros from the currency?

Post by Diamond on Tue 03 Apr 2018, 4:06 am

I can wait till after the elections, OH I was already going to wait  lol!
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weslin3
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Re: Is it time to delete three zeros from the currency?

Post by weslin3 on Tue 03 Apr 2018, 4:35 am

Antoine may not know what he is talking about... Security...It is about as good as it can get for the fire hole.
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Diamond
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Re: Is it time to delete three zeros from the currency?

Post by Diamond on Tue 03 Apr 2018, 4:49 am

[You must be registered and logged in to see this link.] wrote:Antoine may not know what he is talking about... Security...It is about as good as it can get for the fire hole.
yes there is a lot that don't know what their talkin about  lol!
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weslin3
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Re: Is it time to delete three zeros from the currency?

Post by weslin3 on Tue 03 Apr 2018, 5:01 am

Who is this Antoine anyway? Do you know??
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sassy
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Re: Is it time to delete three zeros from the currency?

Post by sassy on Tue 03 Apr 2018, 5:04 am

It’s about time!!!!   drunk
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rocky
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Re: Is it time to delete three zeros from the currency?

Post by rocky on Tue 03 Apr 2018, 5:19 am

Bassem Jameel Antoine


 an Iraqi financial expert, says public confidence in Iraq's banks remains intact, but the sector as a whole is suffering because this fiscal year's budget has not yet been ratified.



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Diamond
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Re: Is it time to delete three zeros from the currency?

Post by Diamond on Tue 03 Apr 2018, 5:33 am

Thanks rocky, financial expert  hum zip
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wciappetta
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Re: Is it time to delete three zeros from the currency?

Post by wciappetta on Tue 03 Apr 2018, 6:04 am

Antoine predicted that the project would be implemented after the legislative elections scheduled for next May.


Well the guy guessed correctly....


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Re: Is it time to delete three zeros from the currency?

Post by weslin3 on Tue 03 Apr 2018, 6:35 am

Thanks rocky...

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