International Safety Standards for Currency is Essential: CBI Governor

The Iraqi Central Bank issued a statement that CBI is examining international companies that are specialized in technologies for printing currency. The safety standards for printing currency have its own importance because it enable in reducing the counterfeit currency. Fake currencies always reflect negative impacts on the economy of the country. The Governor of Iraqi Central Bank delivered his words during a seminar conducted about “safety measurement of circulating cash”. He added that we are experiencing issues that are related to our sovereignty of state and the banknote has been considered the identity of any country in order to represent the identity of any country in the world. We have taken all the major steps in order to ensure the safety standards because our state experienced fraud in Iraqi currency in the past couple of decades.

The Governor of CBI pointed out that Iraqi Central Bank is looking towards getting services by international companies having the capability in dealing with essential and required international standards specifications and security for printing Iraqi dinar currency. He pointed out that spreading culture of anti-smuggling and anti-money laundering. He stressed that it is has been considered one of the major problems because it directly affect the human rights and this message should be delivered to all Iraqi citizen. He said that Iraqi banks should activate their role regarding awareness for Iraqi citizens to protect their money. He also define the specific security features that will be added in the new Iraqi dinar currency.

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