The Central Bank issues a clarification on the new currencies

Alsumaria News / Baghdad issued the Central Bank of Iraq on Monday, a clarification on the new currency, noting that the right to determine the cash notes and coins and standards, forms and its article, content, weight and design categories.

The bank said in a statement received by Alsumaria News, a copy of it that "one of the basic functions of the work of the Central Bank and provided for in Article IV of Law No. 56 of 2004 amending the issuance of the Iraqi currency and management, as stated in Articles 32 and 33 of the same law where the Central Bank of Iraq alone Other right to issue currency currency paper and metal for the purpose of circulation in Iraq , "noting that" the right of the bank Under regulations to determine the categories of paper and metal currencies, their measurements, forms, material, content, weight, design and other features. "

Put the name of the governor on the currency .. Legal calls to prevent circulation and expert considers it a "serious mistake"

Deputy chirps about putting the bank's wallets named on the currency
The bank said that "the banknotes in various countries contain the signature of the issuing authority, which is the governor of the Central Bank," pointing out that "the central banks have always put the signatures of their governors on these securities in different formats, including the signature of the governor in relation to his name, The name of the governor is placed in the handwriting of the governor in a form that combines the name with a signature with special significance for the banknotes. Many central banks use this combination (name of the governor by hand) without signing to document the stage of issuance of the banknote.

He stressed that "of these examples Iraqi currency issued in 1932 as signed by the same formula Governor of the Central Bank of Iraq in 1964 and followed this approach the central banks of Egypt, Saudi Arabia, the United Arab Emirates, Lebanon, Turkey and others," explaining that "the bank took a decision to include the name of the governor when reprinting or issuing Any monetary paper, in line with what is stated and with the latest trends found in the signature alone the lack of significance required by the word (governor) on the banknote, and that the currency committee in the Central Bank of Iraq concerned has taken this decision for months in accordance with all legal and regulatory considerations Technical and international practice. "

On Sunday, the Central Bank issued its second edition of banknotes for the categories (25,000, 10,000, 1,000, 500 and 250) dinars. He pointed out that the new currency included the writing of the name of the governor instead of signing it in the old version, in line with what is now practiced in Other countries, as amended dates AH and Gregorian dates.

Article Credit: https://www.alsumaria.tv/
Special thanks to Carol Williamson!!