Lebanon today »Iraq protects its currency .. This is how he decided to strengthen it security!

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 monetary papers circulating 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 prominent signs 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.

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. (Al -Jazeera Net)