The bill to remove four zeros from the national currency was approved by the Economic Commission.
Fathollah Tousi, a member of the Economic Commission of the Parliament, said today that the bill to remove four zeros from the national currency has been approved by the Economic Commission.
According to Mr. Tousi, the bill was approved after addressing the issues with the positive opinion of the Governor of the Central Bank, the Ministry of Economy, and the relevant commission.
The details of this bill will first be reviewed in the commission and then in the plenary session. According to Mr. Tousi, since this bill has been reviewed before, its finalization will be completed soon.
Shamseddin Tousi, the head of the Economic Commission of the Parliament, had stated that reforming the currency unit by itself does not control inflation, but successive inflations over many years have made the current currency unit lack the necessary ease in transactions and calculations, making its reform inevitable.
The bill to amend Article 1 of the Monetary and Banking Law was sent to the Parliament by the second government of Hassan Rouhani, which was approved with minor amendments and sent to the Guardian Council.