The Central Bank fines increases deposit counterfeit banknotes to 700%



16/11/2017


Economy news Baghdad:


The Iraqi Central Bank, decided Thursday to increase fines on banks that deposit counterfeit banknotes to 700%, indicating that foreign banknotes deposited will be confiscated as Iraqi banknotes.

The Bank said in a press release received news that economy to reduce the appearance of false papers and increases and decreases differences and different groups and foreign banknotes appear within your bank has deposited it was decided to increase fines on these cases, "Noting that" the fines will include banknotes That are counted and sorted as of 11 November.

The Bank said it will increase the proportion of fines to the discovered counterfeit bills of 500% to 700% with compensation valued by the Bank, it will be fine for the shortfall detected in banknotes of 100% to 250% with offset shortfalls ", stating that he" will get 5% of the value of banknotes. For buried.

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The Bank said it will confiscate the increase appears in deposits and deposited in the Central Bank's income account, in addition to the confiscation of different CA discovered in deposits banks of Iraqi banknotes as excess paperwork authorized by you with compensate, "pointing out that "It will also confiscate foreign banknotes detected within Iraqi banknotes and record revenue for the public purse".

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