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    • By deniscanada
      Iraq issued a new currency with a high security specifications
      2014-04-23 Khaled Al-Taee of Baghdad
       
      Iraqi currency checks before use in place in Baghdad in 2008. The Iraqi Central Bank announced new security features to prevent counterfeiting. [Al-Saadi/AP]
      The Central Bank announced last week a new paperless currency printed with signs of extra security make it difficult to forge or manipulate them.
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      Iraq is studying the restructuring of national currency Central Bank announces cash reserve to $ 42 billion The Central Bank takes measures to regulate currency exchanges The Central Bank's Treasury Director Ihsan HostMonster Al-yasseri said the Central Bank has printed currency notes of small groups (250, 500 and 1000) and also large groups (5, 10 and 25) 1,000 dinars ".
      "The new currency that we started to put up small trading does not differ much from the currencies currently circulating among citizens as to form, but was provided with technical specifications more efficient and safer where they contain security features and many technical features make currency longer-lived and difficult or impossible to falsify."
      These include tags added security thread and a colored bar to view the mm one for small coins and four millimeters to large, visible and coloured filaments do not see through the use of detectors, he said.
      In addition to sophisticated, high-quality brand know balsbark in place in several countries of the world, according to Al-yasiri.
      Al-yasseri said that these features would contribute to enhancing the protection of Iraqi money from counterfeiters and manipulators.
      He noted that the "counterfeiting some currencies that are currently very low and large groups can be detected easily even without having to pass the currency forgery detectors".
      To enable blind and visually impaired citizens of new currency trading, contained tags or burrs. It was painted with protective material to prevent damage caused by continuous trading, according to Al-yasiri.
      "Age is world banknotes between three to five years, and the current Iraqi currency extends lifespan of about 10 years and has a lot of categories especially small and worn."
      Gradual replacement
      Al-yasseri said the total value of banknotes to be printed about five trillion dinars (2.7 billion dollars) and will inject trading instead of categories used gradually.
      He noted that "the new currency would not eliminate rolling current paper money will be working groups developed side by side with the old".
      The beautiful name Economist Antoine to the reprinting of the Iraqi currency several years after development was "essential".
      He said that "a lot of current cash categories of consumption, it was necessary to renew it with added features that make it a currency able to more effectively withstand continued use and also attempts to falsification."
      Antoine said that there are many modern techniques and tags that have been introduced in recent years worldwide to immunize currency forgery and manipulation.
      It was necessary to increase the awareness of the characteristics and specifications of new denominations and the importance of reprinting and circulation of currency.
      In turn, a member of Parliament's Economic Committee, Attorney Ibrahim Al-Rikabi, a step the Central Bank of Iraq, said the renovation of the currency is a good step towards monetary reform.
      Rikabi said, "we are replacing the old currency with new ones would be of high quality properties in terms of printing and forgery and tampering.
      He noted that the measure "will give a great power of the Iraqi dinar against other world currencies, as well as the ease of carrying and trading denominations yellowed in the banking and monetary exchange."
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