Finance Committee: deposit in banks when switching the curre

[Stillw8n]

Finance Committee: deposit in banks when switching the currency would be one place

2012-04-18

Baghdad/JD/…The parliamentary Finance Committee revealed on certain categories of new currency the Central Bank works to process delete three zeros from the small groups are large and metal and paper, noting deposit in banks when switching the currency would be one place.

Committee Member said Majida Al-Tamimi l/JD/”groups within the new currency will be a small metal after deleting zeros and large groups (50) will be” 50 dinars “, (100)” one hundred dinars “, equivalent to (50.000)” or “fifty thousand (100,000),” hundred thousands JD “at the present time.

Tamimi said “that small categories are more user-friendly, the Bank has to be metal in order not to be liable to damage.” “Kite groups are characterized by their small size so there is no difficulty in circulation and money savers fit.”

Tamimi said “that the Central Bank has contracted with major companies to print currency of high quality paper.

And appointed Al-Tamimi “cost action allocated to switch currency to 150 million dollars. She noted that the “switch currency withdrawal be gradual through the filing process in banks” confirmed “that the withdrawal currency be gradual and not once as in switch back. Tamimi noted that “Finance Committee follow-up to the work of the Central Bank and informed of what is happening with the new Iraqi currency printing process.”

And Financial Committee member quoted “on modern parliamentary Central Bank Governor Sinan Al-Shabibi,” “deposit in banks when switching the currency would be one place and controlling it to protect the currency from counterfeiting”.

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