25/06/2010Central Bank: the Iraqi currency will not change in the near future
Baghdad, The deputy governor of the central bank, said Friday that the process of lifting the zeroes of the Iraqi currency require more time, being a very complex process because of routine procedures that require, while denying any role played by this process in support of the Iraqi economy.
Said Ahmed Salman Jumaili, told the Kurdistan News (Akaniwz) that "the process of changing the Iraqi currency at the present time is facing more difficulties because of Iraq's financial interactions with the countries of the regional and global."
"The change of the Iraqi currency at the present time did not affect the economy, Iraq, but is a question of both administrative regulations only."
Associated with changing the currency in Iraq permanently on the political situation and related major changes, when established the Iraqi state in 1921, has been coined a new currency of the Kingdom of Iraq and continued until 14 July 1958, after the announcement of the republican system has been replaced by currency Property currency of the Republic, when he fell the former regime in 2003, changed the currency bearing the image of the symbols of the former regime and the issuance of a new currency is traded on the market.
Jumaili and that "raising the three zeroes from the Iraqi currency will not be overnight the situation in the country for Aithml such a change in the time being."
He pointed out that "the process of change will ensure its future, and there is no intention at the present time the central bank changed it possible in the future if needed."
The CBI, with headquarters in Baghdad and has four branches in Basra and Sulaymaniyah, Irbil and Mosul, he founded the bank independent Iraqi under the law of the Iraqi Central Bank of 6 March 2004, and shall be responsible for the maintenance of price stability and monetary policy, including exchange rate policies and management foreign reserves and the issuance of currency management, as well as to regulate the banking sector.
