Baghdad The attention in Iraq is turning towards efforts to protect the national currency and enhance its economic security. In this context, the Central Bank of Iraq revealed a set of modern security signs that have been added to the circulating banknotes as a qualitative step that reflects the keenness to keep pace with global developments in the field of currency printing and securing them.
On January 19, the Central Bank of Iraq revealed the security signs of the traded banknotes, with the aim of educating the public, as well as companies and commercial banks that deal with these papers on a daily basis, reviewing these improved security signs, through a technical bulletin, in which he pointed to the introduction of signs Distinguish on new banknotes to enable the visually impaired to identify the categories of the leaves by touch.
A battle against counterfeiters and money laundering
Mazhar Muhammad Saleh, the economic advisor to the Prime Minister, confirmed that Iraq’s decision to print a new currency is a natural decision that comes within the state’s endeavor to protect its national currency and enhance its security.
Saleh said in his speech to “Al -Jazeera Net” that Iraq, since the first release of the currency in 1934, printed its currencies with the largest international printing companies, with the exception of the blockade period in which the state was forced to resort to local printing.
And that Iraq is still dependent on the largest international companies specialized in currency printing, and they are companies with a good reputation and a high reliability and are committed to the highest international safety standards. He pointed out that this matter is extremely important for Iraqi economic security and global security in general.
He added that Iraq re -printed its currency after 2003 to the largest international companies, including British and German companies. He explained that the re -printing of currencies is a routine procedure that is carried out periodically to replace damaged papers and introduce new security improvements to the currency to protect citizens from forgery and money laundering.
He stressed that these measures come within the framework of the state’s keenness to protect the economic rights of citizens and ensure the stability of the Iraqi economy. He pointed out that the Central Bank of Iraq is the only party authorized to issue the currency in accordance with the law, and there is tight security control over the process of printing and trading to prevent the entry of counterfeit currencies into the country.
Saleh stressed that the cost of re -printing a single currency is very simple that does not exceed the cents compared to its benefits, and that this procedure is an integral part of the central bank policy around the world to maintain the stability of national currencies and protect national economies.
Good step
The researcher on the financial and banking affairs, Mustafa Hantoush, saw that the process of printing a new currency to replace the damaged ones or in addition to the market in exchange for real balances in international banks is a correct step.
Hantoush said in an interview with Al -Jazeera Net that Iraq is continuing the process of printing the local currency to use it to replace the damaged currency mainly or use it in issuing a new currency for the first time in exchange for real balances in international banks, indicating that Iraq is a fact that has an excellent balance of foreign currencies and gold and plans it for any Dinar prints it and one of the best equations in the world.
He explained that the process of adding security signs to a new currency is a correct process, not a mistake; Iraq, in all cases, needs a currency edition to replace the damaged, and in case it was with better security features, it is a good indication, especially since the issuance of the new currency, whether with new security signs or the same previous, is the same costs, therefore, there is no problem in it.
He stressed that the topic is not related to the process of radical change of the shape of the currency, but rather the same currency, but with better security specifications.
Human and security aspects
The Iraqi parliamentary deputy Haitham Al -Zarkani confirmed that the central bank’s talk about steps to issue a security currency is an effort worthy of praise.
In his interview with Al -Jazeera Net, Al -Zarkani explained that any steps to make the Iraqi currency are sober and acceptable globally, especially since the Iraqi currency is rarely dealt with in neighboring countries due to the instability of exchange rates and the lack of recognition of some Arab and European countries as a global currency.
Al -Zarkani attributed this weakness to the cases of forgery, noting that the issuance of a currency that takes into account the security aspects and meets the needs of people with visual disabilities represents an important step on the security, humanitarian and economic levels at the same time, without wasting resources or reducing the Iraqi currency in global markets.
In 2018, the Central Bank of Iraq had issued a second edition of banknotes for the categories (25,000, 10,000, 1000, 500, 250), and in 2013 he introduced some technical and technical updates on the 2003 issuance except for the category (50) dinars that withdrew from the trading in general 2015, at the end of 2015, he issued a category (50,000) dinars to complete the current series in circulation.
For his part, economist Safwan Qusai stressed that the central bank is striving to make the paper currency safer and difficult in forgery and manipulation, by heading towards supporting the policy of financial inclusion and shifting to electronic transactions.
However, Qusai indicated in his interview with Al -Jazeera Net that the process of withdrawing and issuing money with a higher security force does not constitute any risks, especially since the traded monetary block of 100 trillion dinars (about 76 billion dollars) is under the control of the central bank and there is no new currency version in a way Various, it is just a replacement of the type of currency in the market.
Qusai added that this policy is followed in all countries of the world, as currencies require modern technologies to reduce the possibility of tradition and forgery.
Regarding the central bank’s talk about the use of private inks to serve people with visual disabilities, the expert stressed that there is a real interest in this category, and that the process of selecting global presses specialized in currency production is done with high accuracy to ensure their quality and safety, explaining that the process of caring for people with visual disabilities comes from the bank’s keenness The central to meet the needs of all segments of society, and that this decision was not arbitrary, but rather a response to a real need that the bank monitored in the market.
Qusai stressed that replacing or improving the quality of publications is in line with the directives of the central bank for all banks, and that this step will not affect citizens’ confidence in the currency traded, noting that the main focus currently focuses on achieving financial inclusion and enhancing the use of credit cards to ensure the speed and safety of transactions and protect the local market from Any external interventions.
