The central bank issues a decision to cover the market need of small monetary categories

2019-09-23




The Central Bank of Iraq, on Monday, to cancel the fine shortage of deposits of small categories of banks, attributing the decision to cover the market need of new notes for small cash groups.
The bank said in a statement received by Alsumaria News, a copy of it, that "in order to cover the market need of new paper for small cash categories" 250, 500, 1000 "it was decided to cancel the fine shortage that may appear in the deposits of banks approved by small cash categories for a limited period," Indicating that "that comes to achieve the desired purpose of withdrawing the damaged cash currency in circulation."

He added that "the counting and sorting of banknotes damaged for these categories require time and effort from the competent staff for the difficulty of counting in the counting machines."

It is noteworthy that the Central Bank of Iraq during the last period pumped large quantities of small groups after these categories have been damaged, which the citizen found it difficult to circulate.

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[ltr]The Central Bank eliminates the fine shortage of deposits of small categories of banks[/ltr]

[ltr]Release date:: 2019/23/23 11:46[/ltr]
[ltr]BAGHDAD: The Central Bank of Iraq decided on Monday to cancel the fine shortage of deposits of small categories of banks, attributing the decision to cover the market need of new paper for small cash groups.


"In order to cover the market need of new notes for small cash denominations" 250, 500 and 1000, "it was decided to cancel the shortage that may appear in bank deposits of small monetary categories for a limited period," the bank said in a statement received by Al Furat News. , Indicating that "it comes to achieve the desired goal of withdrawing the damaged cash currency in circulation."

He added that "the counting and sorting of banknotes damaged for these categories require time and effort from the competent staff because it is difficult to count in the counting machines."




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