Iraq issued new banknotes with high security specifications; Existing notes will be gradually replaced

Posted by on May 01, 2014 | Leave a Comment

Iraq Central Bank announced last week for printing new bank notes contain signs of additional security make it difficult to counterfeit or tampered with.

The Director of Treasury at the Central Bank Ihsan Shomran Yasiri to my home that the CBI re-printed paper currencies of small denominations (250, 500 and 1000) dinars, and also large groups (5, 10 and 25) thousand dinars. “

“The new currency, which started offering small ones for trading not much different from the currency currently in circulation among the citizens in terms of shape, but it provided the technical specifications more efficient and safer as contained signs of security and properties of many technical make currency a longer lifetime and are difficult or impossible to falsify.”

These include security tags added security thread, a colorful stripe width of one millimeter small cash currencies and four millimeters of large, colorful filaments are visible and the other does not see only through the use of detection devices, according to what he said.

Add to sign a sophisticated, high-quality know Balspark in place in several countries of the world, according to Yasiri.

He Yasiri that these features will contribute to enhancing the protection of Iraqi funds from counterfeiters and manipulators.

He noted that “some of the long-counterfeiting coins currently in circulation of large groups very poorly and can be detected easily with him and even without the need to pass on currency forgery detectors.”

To enable citizens blind and visually impaired circulation of the new currency and excellence, it contained a prominent signs or protrusions. It was also repainted and a protective material to prevent damage due to continuous trading them, according to Yasiri.

“The Age of the supposed global currency paper between three to five years, and the Iraqi currency currently in place extends life for about 10 years and has become a lot of categories, particularly small and old outdated.”

A GRADUAL PROCESS OF REPLACING
Yasiri said that the total value of banknotes will be printed at around five trillion dinars (4.3 billion dollars) will be pumped circulation categories used instead of gradually.

He pointed out that “put the new currency will not eliminate the cash currently rolling paper, where work groups will be created alongside the old.”

Indicates economic expert on behalf of Jamil Antoine to reprint the Iraqi currency after several years developed was a “prerequisite”.

To my home and said that “a lot of groups exposed to the current monetary consumption, and it was necessary to work on the refurbishment with the addition of features that are able to effectively currency with greater resistance to the continued use of her and also attempts to warping.”

Antoine explained that there are a lot of techniques and modern labels that have been introduced in recent years in the world to fortify the currency of fraud and manipulation.

He believed that it is necessary to increase awareness of the characteristics and specifications of the new categories of cash and the statement of the importance of re-printing the currency and encourage circulation.

In turn, welcomed member of the Economic Committee in the House of Representatives MP Ibrahim stirrup step the Iraqi Central Bank, and considered the process of renewal of the currency is a good step towards the achievement of monetary reform.

The stirrup to my home, “We are replacing the old currency with a new one be of the characteristics of high quality in terms of printing and the inability to forge and tampered with.”

He pointed out that the procedure “will give the Iraqi dinar a large force in front of the rest of the other world currencies, as well as the ease of carrying and trading groups yellowed cash in banking transactions and the buying and selling and monetary exchange.”

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