I READ of a move to ease the current problem of too many digits in our financial dealings (“Local currency set to lose three digits”, Zimbabwe Independent, July 21).
About time too!
Agreed that it w
ould take time and money to educate all concerned to effect the necessary legislation to introduce a kilo-dollar, is there not an immediate palliative available at minimum cost to help the present situation pending the introduction of the kilodollar?
I suggest that all financial institutions and service organisations, by common consent, cease the use of the cent when debiting round down and when crediting round up.
I think this would:
* Require minimal amendment to their computer programmes;
* Immediately save three spaces;
* Benefit the recipient;
* Hardly cost the institution/organisation anything in real terms;
* Not require any educating of the public as would the introduction of a kilodollar;
* I doubt this would require legislation — but perhaps the accounting boards would object; and
* Be possible to introduce in the shortest time to the benefit of all.
But perhaps I am wrong?