British currency in the Middle East pound sterling until 1972, some twelve years after Cyprus gained independence from the United Kingdom. Initially the Cyprus pound was divided into 20 "shillings" ("σελίνι" / "σελίνια", "şilin"), in common with its United Kingdom counterpart. However, unlike the United Kingdom shilling, the Cyprus shilling was divided into 9 "piastres" ("γρόσι" / "γρόσια", "kuruş"), thus establishing a nomenclature link to earlier Ottoman currency. The piastre was itself divided into 40 "para" (like the kuruş). The para denomination did not appear on any coins or banknotes but was used on postage stamps. However, the -piastre coin was equal to 10 para (παράδες)
British currency in the Middle East 1927 to end the confusion that had arisen as a result of the twin circulation of Turkish and Egyptian money in the territory. The Palestine pound was created at par with the pound sterling, but it was not used in conjunction with the pounds, shillings and pence coinage. It was used in conjunction with a decimal system. That was in contrast to the situation in the Eastern Caribbean, where sterling coinage was used in conjunction with a Spanish dollar unit of account. The Palestine pound was also used in Transjordan where it later became referred to as the dinar. The