Central introduces new categories up to the equivalent of $ 100
23/06/2011
Currency restructuring to develop payments system
Baghdad Al-Sabah
The Central Bank decided on Wednesday, the restructuring of the local currency to develop payments system in the country.
The Bank's adviser said the appearance of Mohamed Saleh, "the Central Bank of Iraq had decided to begin implementing the long-term strategic project, specialize in the restructuring of the local currency to develop Iraqi payments system," he said, adding that "the Bank will raise the level of the local currency and the introduction of new currencies of up to 100 dollars which would address economic gap in financial payments system".
"The news agency quoted Saleh as saying aknews" that "this project, which started its gradual, need the support of the Government and Parliament, especially that purchasing power will compare the economic balmdkholat."
The International Monetary Fund demands Iraq a number of economic measures, including privatizing banks and raise three zeros from the local currency debt and reparations which redirected rests with Iraq, if Iraq's desire to receive the support of the International Fund.
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