CBI decides to develop coins in his plan to restructure the currency
16/07/2011 16:06
Baghdad, July 16 (Rn) - An adviser to the CBI, Saturday, part of a plan to restructure the banks, currency and coins for the development of financial trading bank to support the Iraqi economy.
Money The appearance of Mohammed Saleh told the Kurdish news agency (Rn) that "the central bank decided to introduce coins as part of his plan to restructure the currency, which require the approval of the government and the House of Representatives because it is a strategic plan will help support the value of the Iraqi dinar in the trading of Finance."
He added that "the draft coins in 2004 was not successful because he has not been as comprehensive reforms to support the financial value of the Iraqi dinar in the global market."
He pointed out that "the coin is not a low currency, but will be important medium of exchange which are used for simple banking transactions in the internal business transactions."
The Iraqi Central Bank announced in June 22 last he decided to restructure the local currency in order to develop the payment system in the country.
He expressed the IMF in August / August, his support of the Iraqi economy in the event of having a number of economic measures including the privatization of banks and raise three zeroes from the local currency and to meet debt and compensation is the responsibility of Iraq.
The Iraqi government has denied any change in the local currency this year to reduce inflation.
The local Iraqi currency has gone through several changes in its history, most recently in 2004 when the former Governing Council replaced the previous currency, which was the symbol of the former regime.
The main tasks of the Iraqi Central Bank to maintain price stability and the implementation of monetary policy, including exchange rate policies, and management of reserves of foreign currency, and the issuance of currency management, as well as to regulate the banking sector.
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