03 December 1404 at 08:24
In line with Article 123 of the Constitution of the coury, Dr. Masoud Mezikian notified the ceral bank of the law to remove four zeros from the national currency for implemeation.
The monetary system of the coury has now eered a new and decisive stage, which indicates the beginning of the implemeation phase of a comprehensive plan to organize the monetary structure of Iran. The main perspective of these reforms is aimed at significaly strengthening the efficiency and tangible increase of the purchasing power of the national currency, so as to improve its credibility and stability at the domestic and iernational level.
One of the most importa motivations for removing four zeros from the national currency is to simplify and facilitate daily financial transactions for the general public and economic activists to minimize the complications caused by large numbers of bills and monetary calculations. According to the latest domestic news, the preside has officially notified the ceral bank of the law to remove four zeros from the national currency, so that this monetary supervisory body can initiate the necessary measures for the implemeation of this importa economic developme.
The law to remove four zeros from the national currency was finalized by the announceme of the preside
The Preside of the 14th governme, Dr. Masoud Bischiyan, based on his legal authority under Article 123 of the Constitution of the Islamic Republic of Iran, issued and communicated an executive order related to “Amendme of Clause A” of Article (58) of the Ceral Bank of the Islamic Republic of Iran Law. This notification is a turning poi in the long and complicated process of removing four zeros from the national currency, because the formalization of this law paves the way for its implemeation.
The aforemeioned resolution was previously approved by the represeatives of the Islamic Council in the public meeting on Sunday, November 11, 1404, and after going through legal and regulatory procedures on November 14, 1404, the process of removing four zeros from the national currency was also approved by the Guardian Council. This approval of the Guardian Council means that the resolution does not conflict with the standards of the Holy Sharia and the principles of the Constitution and has given the bill executive power.
It should be noted that the bill “Amendme of Clause A” of Article 58 of the Ceral Bank of the Islamic Republic of Iran Law faced numerous legal and expert ambiguities earlier in its review and approval stages. These ambiguities caused the approval process to be longer and require more detailed revisions and reforms in the Islamic Council. But finally, after carrying out these expert reforms and comprehensive re-examinations by the Guardian Council, all legal and Shariah considerations were resolved and this regulatory body cleared the resolution of any coradiction with Shariah standards and the principles of the Constitution.
Finally, the promulgation of this law by the preside now places the responsibility of implemeing this fundameal change on the Ceral Bank of the Islamic Republic of Iran, so that this importa monetary reform can be implemeed with detailed and step-by-step planning.
