Central Bank of Iraq intends to issue a new class of currency
Heading for the Iraqi Central Bank to issue a new currency of a 100 thousand dinars to facilitate financial transactions in the markets and face the phenomenon of "dollarization" of Dhahiyeh.
The draft version of the new cash in light of expected delays to the project to delete the three zeroes from the Iraqi currency, and continue with the implementation of the vocabulary of the bank's plan for the advancement of the financial sector which is the mainstay of the economy overall in Iraq.
In this context, the Bank seeks to issue a new category of currency to meet the twin goals in direct; facilitating dealing in Iraqi currency in the markets on the one hand, and restore confidence to face the phenomenon of the widespread use of the U.S. dollar in local dealings or what is known Baldolrp the other hand.
The consultant said the Central Bank of the appearance of Mohammed Saleh, said that the idea of a new currency is still future, but it suggests at the same time there is an urgent need to in the current business dealings.
And demonstrates the benefit in an interview with Radio Free Iraq that the trend to issue a new currency aimed at reducing the cost of trading in Iraqi dinars, adding that the draft version of the new money is complementary to the project to delete the three zeroes from the Iraqi currency, and causes the same purpose, especially since the lifting of the zeroes requires time and official approval of government and parliament, a process that could take a long time.
And the Iraqi Central Bank seeks to establish the structure of flexible monetary and sophisticated fit with the major developments expected to be taking place in the Iraqi economy in the next phase.
For his part, says the head of the Association of Journalists in Iraq, economists said the trend Ghalibi Abbas to release the new money comes as part of a series of updates that the Bank continues to take place in the monetary system in Iraq.
Ghalibi confirms that the main objective of the release of the new money is to confront the phenomenon of dollarization burgeoning business dealings in Iraq.
http://www.iraqhurr.org/content/article/2254698.html