Group items tagged

The Central bank of Iraq issued new Iraqi dinars with new codes, images and many other security measures to avoid forgery and forfeited issues. Central bank of Iraq was monitoring the complaints about forgery in 250, 500 and 1000 IQD notes and tried to control it for some time. More than 70 trillion Iraqi dinars with this value are in the circulation. It was so difficult to control the whole currency and the problem it was facing in the trade market.

Central bank of Iraq reprinted the bank notes with new symbols and codes to protect currency from forgery issues and declared that these new notes will also be helpful for blinds to recognize with their simple recognizable features. These notes are reprinted in the way that it is so difficult for a person to copy these bank notes as it has some new and superior features that protect these notes from forfeited issues.

Iraq printed new Iraqi dinars with the new features on it, to monitor and counter the counterfeited Iraqi dinar issues in the country. After many of the reported and registered complains about counterfeited issues in the bank notes of 250, 500 and 1000, the central bank of Iraq decided to reprint these notes with new security features.

The Central bank of Iraq struggled hard to control this situation in the country. Central bank applied number of techniques and methods to overcome this situation but most of the efforts resulted in vein. The final thing that central bank could do was the reprinting of these notes. Central bank issued new notes and circulated it in the country through commercial banks.

The decision of the Commission on Economy and Investment parliamentary Muhma Khalil: "The central bank is obliged to maintain the exchange rate of the Iraqi dinar and a balance must be maintained by the sovereign and the feature in the Iraqi economy, because it is expected to be the Iraqi dinar economic identity in the region."

Central bank of Iraq is taking measures to control the issues of counterfeited currency to save it from fraud. This enhances the confidence of people on their local currency, said governor of central bank. Central bank of Iraq issued several new notes with new and exciting security features that are difficult to copy and counterfeited.