The Central Bank informed Nina that the authority to remove zeros from the currency does not rest with the institution and necessitates a formal legal and legislative framework. According to the statement, the elimination of zeros carries implications for debt resolution, contractual obligations, and penalties established under existing Iraqi legislation. Should such a measure be implemented, it would demand comprehensive public education and awareness initiatives to facilitate understanding of the new monetary valuation in relation to the previous currency system. Regarding the economic consequences, the official clarified that the technical process itself is straightforward with minimal practical effects beyond accounting adjustments; specifically, numerical designations would shift from ‘million’ to ‘thousand’ and from ‘trillion’ to ‘billion,’ among similar conversions. Currently, unverified discussions regarding a potential decision to eliminate zeros from the national currency are circulating within public discourse.
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