Verkhovna Rada Committee supports bill to rename kopiika to shah

The Committee on Finance, Taxation, and Customs Policy of the Ukrainian Parliament has recommended that the parliament adopt a bill to change the name of Ukraine’s fractional currency coin (kopiika) to shah.

This was reported on Telegram by the committee chair, Member of Parliament Danylo Hetmantsev, according to Ukrinform.

“We have recommended that the Verkhovna Rada adopt, in principle and in full, a fundamental and groundbreaking reform to rename the kopiika to shah! I am convinced that shah will become a powerful and heroic step toward the country’s macrofinancial stability,” Hetmantsev commented on the decision.

As noted by the First Deputy Chair of the Committee, MP Yaroslav Zhelezniak, the National Bank of Ukraine plans to issue, for a certain period, only the 50-shah coin.

“For 3–4 years, approximately several tens of millions of pieces. All other denominations will be 1 hryvnia or higher,” Zhelezniak explained.

As reported, the Verkhovna Rada has registered Draft Law No. 14093, “On Amendments to Certain Laws of Ukraine Regarding the De-Sovietization (De-Russification) of the Name of Ukraine’s Fractional Currency Coin.”

The National Bank of Ukraine initiated the change of the fractional coin’s name from kopiika to shah last year to restore historical justice and reinforce national traditions in Ukraine’s monetary circulation.

Photo: NBU