Economic parliamentary: the deletion of zeros will begin work next year, specialists advise applying

by **Rocky** Wed 22 Oct 2014, 4:40 pm

Rocky: Admin Assist; Posts : 272922
Join date : 2012-12-21

Post n°1

Economic parliamentary: the deletion of zeros will begin work next year, specialists advise applying

by Rocky Wed 22 Oct 2014, 4:40 pm

Economic parliamentary: the deletion of zeros will begin work next year, specialists advise applying the deletion of zeros instead of issuing currency large classes

22/10/2014

Economic parliamentary: the deletion of zeros will begin work next year, specialists advise applying the deletion of zeros instead of issuing currency large classes

Preparation / economics editor

Commission announced the economy and investment parliamentary, that, the deletion of zeros from the currency will be in the next year, confirming that it was hosted by the Governor of the Central Bank on the Keywords to discuss the file to delete the zeros and the fight against money laundering crimes. The committee member said Jawad al-Bolani, during a press conference at the parliament building with members of the Economic Committee that "the things that are discussed within the Committee, are stocks traded for the mass of cash was responsible central bank, as well as laws that help to develop the work of the Central Bank, which will be legislation includes Law Central Bank, banks and money laundering law. " For his part, says economic expert Dargham Muhammad Ali in a press statement: that the application of the restructuring of the currency after deleting three zeros which is a necessity in light of inflation digital transfer of Iraq's budget Alumblyaria to Altrliunah, and these figures are not commensurate with the value of the Iraqi budget and size, there is no no justification for issuing coins with large groups of perhaps will cause problems Aqtsadah.oadav Muhammad Ali: The project to delete the three zeroes involves finding values less than currently in circulation that does not solve the crisis of the Iraqi currency flabby digitally, which poses a scenario deletion of zeros balanced scenario in light of the stability of the currency. He continued that in the event of a fear can increase the transition period for trading currencies new and old together, either to find alternatives to this project, such as the issuance of currencies with large groups or small metal they are partial solutions and prosthesis and circumvention of the small by the big problem. For his part, said economic expert Majid picture in an interview: The Central Bank of Iraq in agreement with the Ministry of Finance presented the studies necessary for the process of deletion of zeros since 2008 and has taken all actions relating to the restructuring of the Iraqi currency, including the design of the currency and denomination and the quality of paper used her, who confirmed that from the finest stainless paper cash or difficulty rigged. He added that the executive branch has decided to postpone the process of restructuring of the Iraqi currency has led to the cessation of all actions related to this project, explaining that the aim of the process of restructuring is to reduce the cost of handling and facilitate transactions handled especially medium and large as well as to facilitate the draw pricing policy in the country. He stressed the need to accompany the process a package of measures distributed responsibility on all departments and state institutions and banks in order to develop solutions to the problems and obstacles that can arise during the process of restructuring, including cash, and accounting, and security as well as take the necessary measures to destroy the currency received Almgheih.oahar that experience in Iraq to replace the currency in 2003 was very rich, but did not exceed only change the shape of the currency and replace it, so it did not need to accounting requirements or legal, calling for the need to educate departments, banks and citizens feasibility of restructuring the currency, as well as the use of modern technologies to detect fraud, also called non- the intervention of politicians and subjecting such decisions to Mazidat and political skirmishes, because that is not in the interest of monetary policy and the Iraqi economy. It said the financial expert Thamer Alheimus: The most prominent benefits of the deletion of zeros is to create flexibility and ease of trading, and gave the example that in the case of activation of the decision will be minted coins to the values of small Kkhmsin fils or less, and under that will highlight the prices between the fourth dinars and 1 / 2 dinars or less, and thus would be unlikely in a large increase in the value of the Iraqi dinar against the dollar in the case of Sir prudent monetary policy according to which it will contribute to improving the access of families and low-income social strata.

[You must be registered and logged in to see this link.]
--

by **wciappetta** Thu 23 Oct 2014, 6:40 am

wciappetta

wciappetta: NNP TEAM; Posts : 5316
Join date : 2012-12-20

Post n°2

Re: Economic parliamentary: the deletion of zeros will begin work next year, specialists advise applying

by wciappetta Thu 23 Oct 2014, 6:40 am

Thamer Alheimus: The most prominent benefits of the deletion of zeros is to create flexibility and ease of trading, and gave the example that in the case of activation of the decision will be minted coins to the values of small Kkhmsin fils or less, and under that will highlight the prices between the fourth dinars and 1 / 2 dinars or less, and thus would be unlikely in a large increase in the value of the Iraqi dinar against the dollar in the case of Sir prudent monetary policy according to which it will contribute to improving the access of families and low-income social strata.

Here is a cited sum of benefits:

1. Ease of trading --carrying lesser sums of money to purchase, that's an increase in value compared to goods..

2. The word "unlikely" is being used in the idea of high prices as in gouging consumers [the reported concern of corruption cited in the numerous articles over the years] so he is saying this gouging of consumers is "unlikely" with this expected large increase in the value of the Iraqi dinar against the dollar.

3. Families of low income will be more able to improve their standard of living.

Conclusion: This is an absolute declaration of a revalue of the money.

banna3