Article: “CBI unveils new banknote security features” Lots of pictures and they show us on the old bills where some of these features could be and what to look for….
This is great cover for new bills and distributing the lower denominations…this is a world class approach. With bills with new security feature - they will need to distribute the lower denominations throughout the banks and businesses.
This article had me awfully excited. The dinar is going to be one of the most sophisticated currencies in the world…and it should be as imo it is about to be the most valuable currency in the world.
The Central Bank of Iraq revealed, today, Sunday, the new security marks for the circulating banknotes, with the aim of enhancing public awareness, in addition to companies and commercial banks that deal with these banknotes on a daily basis.
The bank explained that these improved security features will help protect the national currency from counterfeiting, and raised features have been introduced to enable the visually impaired to identify the denominations of banknotes by touch.
As part of awareness, the Central Bank stressed that the public will have enough time to adapt to the new banknotes, stressing the importance of sharing this information with others to ensure that everyone is aware of the security features.
The bank pointed out that the main objectives include maintaining the stability of local prices, ensuring a stable financial system based on a competitive market, and promoting sustainable growth, job opportunities, and prosperity in Iraq, indicating that the new banknotes will circulate alongside the old ones, and the old banknotes will not be withdrawn from circulation.
The bank added that Iraqi banknotes enjoy the highest security standards, as they are among the most complex papers in terms of security marks, and are manufactured from the best types of paper used to ensure quality and security.
The bank also stressed that any attempt to manufacture, possess or pass counterfeit banknotes is a crime punishable by law, calling on citizens to hand over any counterfeit banknotes to the police or the Central Bank of Iraq.
It is noteworthy that the headquarters of the Central Bank of Iraq is located in the capital, Baghdad, and it has three branches in the cities of Basra, Mosul, and Erbil within the Kurdistan Region.
Al-Atwani: The Finance Committee has made great strides in discussing amending the budget law
1/18/2025
The head of the Finance Committee, Atwan Al-Atwani, confirmed that the committee has come a long way in discussing the amendment of the budget law. We are keen to mature it in a way that ensures its implementation and commitment.
He said while chairing an expanded meeting, today, Saturday, to discuss the amendment of the three-year budget law proposed by the government, which is on the agenda of tomorrow's session, that this amendment represents a starting point towards building a legal relationship between the federal government and the regional government in managing oil wealth.
He added that our goal in approving this amendment is to subject the export of the region's oil to the authority of the federal government, and to end suspicions about its smuggling.
He continued: We are keen to establish binding legal paragraphs to resolve the file of calculating the costs of producing the region's oil within a specific period of time, and obligating the Erbil government to hand over revenues to the federal government.
Al-Atwani renewed his call to the government to expedite sending the 2025 budget tables.
A statement by the committee said that the meeting discussed ways to mature the proposed government amendment to paragraph 12 of the Federal General Budget Law to ensure resolving the problem of calculating the costs of producing oil in the Kurdistan Region, as a prelude to resolving the outstanding issues between Baghdad and Erbil. According to the statement, the meeting reviewed the mechanisms for regulating the legal relationship between the federal government, the regional government, and international oil companies operating in the region's fields, by including in this amendment paragraphs that oblige everyone to implement and close the outlets for evasion and evasion of fulfilling constitutional obligations according to specific timetables.
The meeting stressed the need for the regional government to commit to exporting its oil through SOMO and informing the federal government of its oil contracts, and involving it in managing production fields.
The attendees called on the government to expedite sending the 2025 budget tables to the House of Representatives in order to include all accounting topics related to this amendment, including conducting a financial settlement within the framework of the established points, including oil revenues and others that were not delivered to the central government's account.
Article: "Iraq launches new banknotes with innovative security signs for the visually impaired"
It seems like it's new currency. I don't have any currencies...that you can feel bumps...
Quote: "The public will have enough time to adapt to these new bank notes...
The Central Bank confirmed the new bank notes will be traded along with the old ones and there will be no intention to withdraw old bank notes from circulation." Remember, they've already withdrawn a lot of notes out of the system...They were actually destroying...perfectly good money.
