Finance Committee confirms: While a good idea, CBI is not “formatted” to replace currency at this time

Posted: January 18, 2014 in Iraqi Dinar/Politics

Parliamentary Finance Committee: deletion of zeros from the Iraqi currency, the dinar serve, but the central bank is ready to replace the Currency (note: misleading translation)

17/01/2014 05:22 AM

Confirmed that the Finance Committee in the House of Representatives that “the Central Bank of Iraq is not formatted for the time being to replace the Iraqi currency.”

A member of the Committee MP Abdul Hussein al-Yasiri “I see that the process of deletion of zeros from the Iraqi dinar serve the Iraqi currency because it is difficult to carry and described the bloc large cash Rather than be placed in a pocket or purse seen carrying bags, so the process of reducing the money supply requires the deletion of zeros.”

He noted that “the process of deleting the zeros will contribute to the reduction of fraud, which happened in the past years, or you may end up in college, as well as help in the growth of the economy.”

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