The central bank is obliged to replace the damaged currency without commissions

Thursday 31 May





Alsumaria News / Baghdad
The Central Bank of Iraq, on Thursday, the need to commit all banks to replace the damaged currency without commissions.

The bank said in a statement received Alsumaria News that "the banks approved all compliance obligation issued by the Department of the issuance and the treasury in 2017 and the replacement of the damaged currency without the payment of commissions in return for that," noting that "non-compliance will bear the bank infringing all the legal consequences in accordance with Article 63 of the Bank Central Bank No. 56 of 2004 amended.


The bank asked the banks to provide him with the disclosure of the damaged amounts exchanged by them, which were received from the public until 31 May, "stressing the need to" respond to the answer within 3 days of the date of his book. "

It is noteworthy that a large number of damaged banknotes are still trading in the local markets, while the banks to return these securities again to the public after the deposit.


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