The Central Bank of Iraq issued an explanation on the new edition of the currency Central Bank of Iraq

Economy News Baghdad:

The Central Bank of Iraq, issued an explanation on the existence of the name of the Governor of the Central Bank of Iraq Ali Alalak in the new edition of the currency.

The Central Bank of Iraq said in a press statement received by the "Economy News" that "one of the basic functions of the work of the Central Bank of Iraq and provided for in Article IV of Law No. 56 of 2004 amending the" Issuance of the Iraqi currency and management, as stated in Articles 32 and 33 of the same law where " The Central Bank of Iraq alone without the right to issue currency currency paper and metal for the purpose of circulation in Iraq. "

"Under the regulations, the CBI has the right to determine the categories of paper and metal currencies, their measures, their forms, their material, their content, their weight, their design and other features."

He pointed out that "the banknotes in various countries contain the signature of the Issuing Authority, which is the Governor of the Central Bank. Central banks have always put signatures of their governors on these securities in different forms." Among them are the signature of the Governor, In the handwriting of the governor in the form of the name combination with a signature with special significance to the banknotes. Many central banks use this combination (name of the governor by hand) without signing to document the stage of issuance of the banknote.

He continued, "Of these examples Iraqi currency issued in 1932 as signed by the same formula Governor of the Central Bank of Iraq in 1964 and followed the approach of the central banks of Egypt, Saudi Arabia, UAE, Lebanon, Turkey and others, so the Central Bank of Iraq decided to include the name of the governor when reprinting or issuing any cash , In line with what was stated and with the latest trends found in the signature alone, the lack of significance required by the word (governor) on the banknote and that the currency committee in the Central Bank of Iraq concerned has taken this decision for months in accordance with all legal considerations and Organizational and international practices ".




http://economy-news.net/content.php?id=13888

[ltr]The Central Bank issues an explanation regarding the inclusion of the name and signature of the Governor with the new currency[/ltr]

Politics, security and economy Monday 8 October 2018 - 03:41 PM
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[ltr] The Central Bank of Iraq (CBE) issued a statement yesterday on the signing of its governor in its full name.[/ltr]

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[ltr] The bank said in a statement that al-Marbid had seen a copy of it, that "one of the basic functions of the work of the Central Bank of Iraq and provided for in Article IV of Law No. 56 of 2004 amending the issuance of the Iraqi currency and management and as stated in Articles 32 and 33 of the same law where the Central Bank of Iraq alone Without any other right to issue currency currency paper and metal for the purpose of circulation in Iraq. "[/ltr]

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[ltr] "According to the regulations, the CBI has the right to determine the categories of paper and metal currencies, their measurements, their forms, their material, their content, their weight, their design and other features."[/ltr]

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[ltr] He pointed out that "the banknotes in different countries contain the signature of the Issuing Authority, which is the Governor of the Central Bank.[/ltr]




[ltr] Central banks have always put their signatures on their portfolios in different forms. The governor's hand in a form that combines the name with a signature with special significance to the banknotes.[/ltr]




[ltr] "Many central banks use this combination (the name of the governor by hand) without signing to document the stage of issuance of the banknote.[/ltr]




[ltr] These examples include the Iraqi currency issued in 1932, Central Bank In 1964, the Central Bank of Iraq took a decision to include the name of the Governor when reprinting or issuing any monetary paper, in line with what was stated and with the latest trends found in the signature alone, the lack of significance required by the Central Bank of Iraq (The Governor) on the banknote "pointing out that" the currency committee of the Central Bank of Iraq concerned, has taken this decision for months in accordance with all legal considerations and organizational, technical and international practices. "[/ltr]

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[ltr] The Central Bank of Iraq issued yesterday its second edition of the banknotes of the categories (25000, 10000, 1000, 500, 250) dinars, including the signature of Governor Ali Mohsen Ismail Alalak in his full name in his capacity as governor of the bank.[/ltr]

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[ltr] "In terms of categories (25,000, 10,000, 500, 250) dinars, the writing of the name of the governor was included instead of signing it in the old version, in accordance with what is currently practiced in other countries. And the Gregorian to the two dates (1440 H-2018 AD) ".[/ltr]

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[ltr] He added that "the category of (1000) dinars was changed the face of the banknote, where the slogan" the inclusion of the marshes and the effects of southern Iraq on the list of world heritage, "instead of the image of the Islamic dinar in the old design, based on a decision in this regard in addition to writing the name of the governor also Instead of signing it in the old version and modifying the Hijri and Gregorian dates to the two dates (1440 H-2018 AD). "[/ltr]







[ltr]http://www.almirbad.com/news/view.aspx?cdate=08102018&id=9adfddfe-f5e2-4a27-bf64-bcc493fc2f48
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