The Central Bank of Iraq acknowledged that current law does not distinguish between different versions of the dollar currency.
He pointed out that all banks and financial institutions must comply with instructions on trading and exchanging foreign banknotes in accordance with approved standards.
“In its directives to licensed banks and non-bank financial institutions, the central bank emphasizes the importance of reducing the phenomenon of discrimination between old and modern issues in the exchange rate of the US dollar,” the central bank said in a statement today.
He stressed the need for all banks and financial institutions to comply with the instructions on the trading and exchange of banknotes in accordance with the accepted standards for foreign banknotes, especially the US dollar, in a manner that contributes to ensuring the safety of cash transactions and market stability.
standards and controls
He explained that applicable laws, instructions and regulations do not distinguish between different versions of the US dollar currency.
He said the bank will continue to receive such issues and will address them through all licensed banks within internationally and nationally approved standards and controls.
The statement indicated that this clarification was made within the framework of the Central Bank of Iraq’s keenness to strengthen transparency and discipline in the banking sector, protect customers and support Iraq’s financial and financial stability.
The Central Bank of Iraq confirmed that current law does not distinguish between different prints of dollar bills.
The conference emphasized the need for all banks and financial institutions to comply with instructions on the circulation and exchange of banknotes in accordance with approved standards for foreign currency banknotes.
The central bank said in a statement today: “Stresses the importance of reducing the phenomenon of discrimination between new and old issuances in the exchange rate of the US dollar in its instructions to licensed banks and non-bank financial institutions.”
The report emphasized the financial need for all banks and institutions to comply with instructions on the circulation and exchange of foreign currency notes, especially the US dollar, in accordance with approved standards, and stressed that this will contribute to ensuring the safety of cash transactions and market stability.
standards and regulations
We have clarified that the laws, instructions and regulations in force do not distinguish between different prints of the US dollar.
The bank said it continues to accept these issues and will address them through all licensed banks as long as they comply with internationally and locally approved standards and regulations.
The statement suggested that this clarification was made as part of the Central Bank of Iraq’s efforts to strengthen transparency and discipline in the banking sector, protect participants, and support Iraq’s financial and financial stability.
