Friday 5/18/2012Parliamentary rule out application of the deletion of zeros next year
Baghdad, Member of the Committee ruled out the economy and investment MP Qusay Juma, the implementation of the project to delete three zeros from the currency at the beginning of next year, stressing that he needs to be approved by the Iraqi authorities through legislation law.
Juma said, according to the Agency (news): The project to delete the three zeroes from the Iraqi currency needs to be enough time to apply and can not be implemented shortly, because it includes the deletion of zeros and change the form of currency, not only with the consent of the legislature and the executive in the country through the enactment of the
He added that the central bank has the authority to delete the zeros from the currency and not the process of changing the form of currency as provided by its law, pointing out that the process of offering a new form of currency legislation needs to be law by the House of Representatives to determine the size and form of currency.
He pointed out: that the implementation of the project is necessary for Iraq to reduce the cash raised in the local market, but needs careful study and a time to be applied, noting that a successful project has fought his experience much of the world such as Turkey, which was omitted from the currency (6) zeroes and many other countries . source
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