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Central Bank of Iraq "warns" against circulation of $1 million commemorative notes
July 25, 2024
The Central Bank of Iraq renews its warning against promoting commemorative notes of the "one million" US dollar denomination used to defraud citizens.
It stressed that the security and regulatory authorities will pursue those who promote these commemorative notes and take legal action against them.
It pointed out that the highest denomination of the US dollar in circulation is the "100" dollar denomination. It is
noteworthy that the aforementioned commemorative note is not circulated in global currency markets as it is issued by the American Millionaires Association, and this note is not considered cash because it is not issued by the US Federal Reserve and does not represent any financial instrument, and is used for gifting purposes only.
The Central Bank of Iraq warned in February 2020 against circulating the "one million" dollar denomination because it is a non-cash note.
Central Bank of Iraq
Media Office
July 25, 2024
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