CBI NEWS 1/15/2024

[DWS112]

Instructions and standards for the circulation and exchange of banknotes and counting and sorting mechanisms

January 15, 2024

 

Instructions and standards for circulation and exchange of banknotes, and counting and sorting mechanisms .. For more, 

HERE

Edited January 15 by DWS112

[RJG]

👀

[BETTYBOOP]

Is anybody able to translate this article!? What type of note is that at the bottom of the picture? When is this coming into affect? so many questions running round in my head

[Stabstones]

4 minutes ago, BETTYBOOP said:

Is anybody able to translate this article!? What type of note is that at the bottom of the picture? When is this coming into affect? so many questions running round in my head

Note IQD 5k

[jb4388]

1 hour ago, BETTYBOOP said:

Is anybody able to translate this article!? What type of note is that at the bottom of the picture? When is this coming into affect? so many questions running round in my head

I've tried using Google Translate but I'm not have any luck. Anyone else able to help out?

[BETTYBOOP]

1 minute ago, jb4388 said:

I've tried using Google Translate but I'm not have any luck. Anyone else able to help out?

So did i came up blank

[Longtimelurker]

Same here

[Longtimelurker]

@6ly410 

Where you at?

[6ly410]

👀

[Longtimelurker]

Just now, 6ly410 said:

👀

Any chance you can translate it?

[BETTYBOOP]

Anybody thinking they might actually move ahead and finally cancel the parallel market??  

[Longtimelurker]

15 minutes ago, BETTYBOOP said:

Anybody thinking they might actually move ahead and finally cancel the parallel market??  

That is their goal, let's hope!

[6ly410]

31 minutes ago, Longtimelurker said:

Any chance you can translate it?

no unfortunately I can’t 

[psdon]

https://www.ebay.com/itm/374934882041?chn=ps&_trkparms=ispr%3D1&amdata=enc%3A1LcNWK8LHSducFVrZnzbwzw0&norover=1&mkevt=1&mkrid=711-166974-028196-7&mkcid=2&mkscid=101&itemid=374934882041&targetid=2259060083987&device=c&mktype=pla&googleloc=9051697&poi=&campaignid=20812738257&mkgroupid=159179256394&rlsatarget=pla-2259060083987&abcId=9347859&merchantid=101702315&gclid=CjwKCAiAzJOtBhALEiwAtwj8tkiRobu8VMaBOB-1LXRiQpm40VPRSsY2uYFTxGs2SkG018lzPAFe4RoCT_AQAvD_BwE

[psdon]

2 hours ago, BETTYBOOP said:

Is anybody able to translate this article!? What type of note is that at the bottom of the picture? When is this coming into affect? so many questions running round in my head

LOOK AT MY POST

[BETTYBOOP]

14 minutes ago, psdon said:

LOOK AT MY POST

So are you saying the note in the article is the same as this or that the prices on eBay are over inflated?

[psdon]

THE NOTE IN THE ARTICLE IS 5000 THE NOTE YOU SEE FROM ME 500 😁

[psdon]

Oh, by the way. there's a castle in Scotland named after my family

[Dretown39]

So MM posted the article. It's giving out instructions on how to exchange the notes when the citizens bring them in. What notes to accept, the criteria, what to do if the notes are damaged etc.. I didn't read the whole article but most of it. I feel that this is another clue we're at the cusp of this happening👍

[BETTYBOOP]

10 minutes ago, Dretown39 said:

So MM posted the article. It's giving out instructions on how to exchange the notes when the citizens bring them in. What notes to accept, the criteria, what to do if the notes are damaged etc.. I didn't read the whole article but most of it. I feel that this is another clue we're at the cusp of this happening👍

Is it posted in his patreon? Not seeing it on his you tube page

[Dretown39]

45 minutes ago, BETTYBOOP said:

Is it posted in his patreon? Not seeing it on his you tube page

I think so. I'll Google to see if it pops up

[RJG]

I have a free link for OCR arabic files translations, and it's free.  https://convertio.co/ocr/arabic/

[RJG]

This is the best my free PDF OCR translator does- RJG

239 A 04 11;1 (Al-Ala0>A

All approved banks

M/ Instructions and standards for cash circulation and exchange, and mechanisms for collecting and sorting

6 m dha r*, dh

Subsequent to our circular numbered 9/2/20 and dated 1/1/2023 regarding the unification and modernization of controls and mechanisms for the standards for circulation and replacement of banknotes, we attach to you a link to the principles, standards and instructions that will be adopted in the processes of sorting, sorting, receipt and delivery of banknotes, and we hope that they will be implemented.

Please review and act accordingly, with appreciation.

Escorts

- Instructions and standards for the circulation and exchange of banknotes and mechanisms for issuance and sorting.

Mr. Hamad Khalaf, deputy governor, HAA Agency/2.24/1

The Bank, in accordance with its amended Law No. 56 of 2004, is responsible for determining the categories, sizes, and shapes of digital currencies (paper and metal), printing paper banknotes, and minting coins. It is responsible for destroying and replacing them and determining the quantity of them, and it may refuse to replace those currencies (paper or metal) or Confiscating them if the proven circumstances in these instructions are met and that the Iraqi banknotes are homogeneous in their various denominations, have absolute release power and are accepted by the Central Bank of Iraq, its branches, banks, institutions and the public. Discriminating between their denominations by imposing a certain denomination on the public or refusing to receive a particular denomination is unlawful. Acceptable and not in violation of the law. We ask all banks to adhere to the instructions and standards for the circulation and exchange of banknotes and the mechanisms for collecting and sorting, as shown below:

1- Standards for the circulation of cash currencies: A- Negotiable banknotes

The banknote issued by the Central Bank of Iraq remains valid for circulation if it is exposed to any of the following:

First: If one or more ruptures occur in it, not exceeding (3) cm, then it is repaired with endocardial adhesive tape from one side or from two sides, and it does not affect its features.

Second: If it is damaged, one of its corners will be cut within a limit of 2 cm without affecting its features.

Third: If it shows traces of handling and use, and there is no harm or damage affecting its shape, color or size.

B- Banknotes that are not valid for circulation

First: Banknotes are not valid for circulation if they meet one of the descriptions listed below, and their holder is compensated for their full value immediately upon delivery to government and private banks and their branches, and the banks subsequently deposit them with this bank or one of its branches, and confirm the equivalent in their accounts without any fees.

(1) If the banknote is worn out or damaged even though it is not torn and no parts of it are missing.

(2) If the paper consists of two parts (different numbers) and its area is close to the area of the banknote.

The original one is attached with adhesive tape.

(3) If the banknote is secured with one or more adhesive tape along its length or width. (4) If the banknote has cuts at more than one angle.

(5) If the banknote is defective in print (in terms of design, size, color, or other security marks carried by the real banknote).

(6) If it contains seals or writings that do not affect its external appearance. (7) If the banknote loses less than 0.7.0 of its area.

Second: Damaged banknotes as a result of burning, burial, or any other reason:

Damaged banknotes as a result of burning, burial, or any other reason not mentioned in Paragraph (1/B/First) shall be received by this bank and its branches exclusively in accordance with the following mechanism:

1- Required documents:

A- Civil status ID, unified card, Dana ID, and residence card.

B- An endorsement from the police station or a judicial authority in the event that banknotes are damaged as a result of being exposed to a gunshot or stained with blood as a result of accidents.

C_ We provide the source of funds as follows: -

-No more than (000..100) dinars (ten million dinars) and up to (....*250) dinars (twenty-five)

One million dinars) It is required to present the ID card if the employee or the salary strip shows the amount of income and the period of service or if there is a source of income that is compatible with the size of the amount to be exchanged. The earner must provide proof of his practice of his profession. A professional practice license from the relevant sectoral authorities or a store lease contract or an annual production car or other. This proves the existence of a source of income commensurate with the size of the amount.

0 More than (......25) dinars (twenty-five million dinars) and up to (aaaaaaaaaaaa) 1 dinar

(One hundred million dinars) It requires submitting ownership documents for real estate, shares, a sales contract, or any official documents proving the legitimacy of the source of that money (a company title deed, a partnership, contracting, or equipment contract) in a manner consistent with the size of the amount provided.

2- In the event that the requested documents are not satisfied due to their authenticity or lack of proportionality and the size of the transferred amount, the application document will be referred to the legal department for the purpose of submitting a written pledge under which he bears legal and criminal responsibility for the accuracy of the documented information and that these funds came from legitimate sources and are not linked to any illegal act. Or suspicious transactions.

3_ Collecting a percentage (5 1 0 a 0) of the value of the canceled banknotes for the benefit of this bank, due to their damage as a result of misuse, burial, burning or any other reason, with the exception of banknotes damaged as a result of circulation, which are replaced without commission.

4-If it is not possible to repair damaged banknotes, they will be estimated by a committee formed for this purpose, and the committee will issue its decision within fifteen working days.

 

2- Confiscation of obsolete banknotes:

The obsolete banknotes that are not fit for circulation, described below, shall be confiscated and the holder or the party that presented them shall be notified of the decision to confiscate them. Anyone whose banknotes have been rejected or confiscated has the right to submit a request to the Governor or his authorized representative via the Issuance and Treasury Department or the DNC branch, to reconsider the decision. The decision of the Governor or his designee shall be final:

A - If the external appearance of the banknote is discolored as a result of staining, drawing, printing, seals, or if it contains an adhesive.

B- If the banknote loses 0 E 0 A? Or more than its area, and in the event that there is evidence that convinces the Central Bank that the missing parts of the papers have been completely destroyed, they will be partially or completely compensated.

3- Confiscation of counterfeit and perforated papers;

A- We confiscate the counterfeit papers and the monkeys who were in possession of a receipt supporting the delivery of those papers, before the cashier or a specialized employee in the Central Bank of Iraq and its branches, and all banks and their branches, and the details are recorded (the number of counterfeit papers, their categories, the name of the depositing customer whose deposits appear, and his account number). ) in a register by the treasurer.

B- The counterfeit papers are stamped with the counterfeit stamp bearing the name of the bank and branch and sent to the Central Bank according to an official letter containing the information in Paragraph (A) above.

C - The banknotes perforated with four holes in one banknote, which leaked from the invalid and defunct banknotes, will be confiscated for destruction in our branch (Mosul) after the terrorist gangs occupied the branch’s headquarters in 2014, where the holes were pasted for the purpose of promoting it, as shown in Appendix No. (1). The banking system confiscated it and handed it over to the Central Bank of Iraq.

4- The mechanism for sorting and sorting banknotes in banks

A - Banks must prepare sorting and sorting centers with an area appropriate to the size of their deposits, and they must strive to acquire modern facilities and specify them on an ongoing basis to ensure sorting and sorting the banknotes that we receive from their customers, while employing qualified workers to do this, provided that we are provided with the preparation and types of places used by the public administration and its branches. . B- Banks send their cash deposits to the lockers of this bank and its branches after they are then sorted, and the damaged ones are isolated into good-quality, sealed bags using sewing machines designated for sewing the bags. Additional tape must be placed when sewing to increase the durability of the bag, with an adhesive tape whose color matches the color of the category in which it is sewn. It was packaged and an identification card was placed on the bag describing its contents of banknotes, the name of the bank, the type of person who packed the bag, and the date of deposit, regardless of whether it was on (the bag or the card).

(1-3)

identification), and it is preferable to label each bag with the name of one cashier. It contains (40) bundles, and each bundle (...1

Paper) shall be securely bound on both sides using the places designated for this purpose. Each bundle contains

It contains (0 1 sheets) and each sheet contains (1 0 0 sheets) and two identification cards in the first (.10) sheet and the last (.10)

A paper stamped with a stamp bearing the name of the bank, the full name of one cashier, the type of denomination, the date, and, if so,

If there is more than one cashier's name in one bag, the differences will be recorded at the bank.

D It is not possible to identify the name of the treasurer for the discoveries in the deposits

 

Bank notes (if they are identical or inconsistent with the declared denomination) will be confiscated and a deficiency will be recorded in both cases (more or less than 1,000 notes) and we will record the percentage of the fine in the manner determined by the bank. The fine rate is currently set at (7.000) of the value of the counterfeit notes. The receipt will be compensated for the shortfall from the bank account or in cash.

Fourth: When Iraqi banknotes appear, equal to the approved banknotes, their number will be recorded as a decrease in both cases (increase or decrease from 10.00 notes), with the imposition of a decrease fine of (100,000) and the notes (of different denominations) registered in the bank’s deposits to its current account. .

Fifth: When non-Iraqi currency denominations appear, they are deposited in the bank’s account if it has an account in this currency with this bank, otherwise, or if it is damaged, it is delivered to the authorized person of the bank and a decrease is recorded in both cases (increase or decrease from 1,000 notes) with Imposing a deficiency fine of (0 0 1 0 0) of the declared category.

Sixth: Banknotes perforated with four holes referred to in Paragraph (3/C) will be confiscated and included in the bank deposits, and a deficiency will be recorded in both cases (increase or decrease from 1.0.0 notes), with a deficiency fine imposed as in Paragraph (5/A) thadiya).

B_ The bank has the right to object to the results of the inspection and sorting within a week from the date of its notification of the results, and the bank’s authorized person is allowed to view the flexible recording made by surveillance cameras of the process of opening the bank’s bags.

C- Official correspondence and correspondence shall be with the Banking Follow-up and Compliance Department, and the results of the loan operations shall be sent

Sorting and documenting the identification papers of the treasurers via e-mail - -. R . ** Dr; The identification papers will be destroyed after seven days upon reaching the age

 

 

D - Amounts will be deducted from the type deposits for the sorting and sorting operations carried out by the bank in the manner it determines, and I have currently debited an amount of (250) dinars per bundle.

The receipt and delivery of deposits or withdrawals of banknotes for both currencies (local and foreign) will take place during official working hours, currently set at (08:30 - 00:2). No vehicles or persons affiliated with banks will be allowed to enter outside these times, provided that the transfer and receipt of These are 5 deposits and withdrawals by secure wheels to or from this bank, and in the event that your deposits are delayed beyond the times mentioned above for reasons convincing to the management of this bank and its branches, these deposits can be received as a trust for a period not exceeding one working day according to a trust deposit form, provided that the amounts received are packaged. It is stamped with the bank's seal to ensure that it cannot be opened except in the presence of its authorized person on the morning of the next working day for the purpose of withdrawing the trust and conducting an initial examination of it.

F - The responsibility of the Central Bank of Iraq and any bank, treasurer, or any person is at the point where the money leaves its possession, and it is assumed that the person receiving the banknotes does not leave the point at which they are collected before verifying the amount. The person receiving the banknotes from this bank may request to carry out operations. Loaning by him and any member of his department, under the supervision of Central Bank employees, including providing and preparing all loaning supplies from the loaning and linking machines. After completing the loaning process, the bank becomes responsible for the banknotes it pays, even if they carry the identification cards of the parties that 1*1 <She died from it.

G- If the bank discovers that there is an error in its deposits (increase or decrease) and the proper procedure for filing and sorting those deposits has failed, it must notify the issuing office and the treasurers at the end of the deposit day or at the beginning of the next day, by sending an official letter stating the amount of the error and the type of denomination in a manner Accurate, and after the operations of the bank and the horn, then the receipts are made sure that the amount of money is identical to what is mentioned in the bank’s account and in the presence of the authorized person, and the deficiency is compensated by the bank without imposing a fine or handing over the excess, if any, according to an official report.

D - In the event that a bank keeps the identification cards of the Central Bank or another bank and includes its deposits and pays them for circulation in this manner, through a violation for which the bank will be held accountable.

6- Foreign banknotes

A0 Cash deposits: This bank receives deposits of foreign banknotes according to a sorting and sorting fee for all types and all issuances in accordance with the mechanism proven below:

First: Adherence to the official timings for deposits mentioned in paragraph (e/d).

Second: Sending an official letter to this bank authorizing the bank employees to deposit foreign banknotes

Third: Sending an electronic receipt containing the numbers of the banned banknotes, along with a paper list of the numbers for each (10.0) paper. In the event that the numbers do not match, the registered numbers will be approved by the bank.

Fourth: We send the banks their foreign cash deposits (dollars and euros) after counting them, sorting them, and packing them according to currency denominations to the tanks of the Central Bank of Iraq and packing them in good-quality bags (thick nylon). Each bag contains (10) ties (ten ties) maximum, and each tie contains ( 0.10) A sheet of paper (one thousand sheets) tightly bound, divided into (10) bundles (ten bundles). Each bundle contains (10) sheets (one hundred sheets) packed in nylon bags and sealed with heat ironing or sewn with a specialized machine after adding tape to increase the durability of the bag. Place an identification card on the bag describing its contents of banknotes, the name of the bank, the type of denomination and the date of deposit, and include the name of the person who

He packed the bag.He packed the bag.

Fifth: The blocked foreign banknotes will be sorted and sorted today, and in the event of discrepancies, the authorized banker will compensate directly. If they are not sorted and sorted today, they will be deposited in the foreign currency treasury at a sorting and sorting fee, and the work date will be determined later.

Sixth: Counterfeit foreign notes (dollars and euros) will be confiscated to compensate for the shortfall from the bank account. Seventh: In the event of a shortage in deposits of foreign banknotes (dollars and euros), it will be compensated by the bank.

Eighth: When an increase in foreign banknotes appears, it is delivered to the bank’s authorized person according to a receipt. Ninth: When foreign banknotes appear to be inconsistent with the authorized banknotes, they are replaced with the same denomination

Compensate the deficiency, if any.

Tenth: The filling of one bag is to place two ties horizontally in two rows, so the number of ties becomes (8), while the last two ties are placed vertically for the third row, so the number becomes (10) ties.

Eleven: When damaged foreign cash deposits appear among the bank’s deposits and are rejected by the credit and sorting agencies, the bank will have a choice between replacing the number of notes or having this bank replace them through the Federal Bank, with the bank bearing the cost of the replacement.

Twelve: The bank shall be provided with a confirmation receipt in the event that it is difficult to make an accounting entry, and it may be held in trust as in paragraph (e/d).

 

B - Cash payments:

First: Cash payments through the foreign currency buying and selling window:

Providing the bank with a written pledge upon receiving the subscription amount in the foreign currency buying and selling window obligating it to distribute the share of the companies participating with it according to this bank’s electronic distribution and sending the pledge within a period of (48) hours.

Second: Cash payments from the bank balance with this bank:

A_ The bank is obligated to provide tables in Excel format with the numbers of the foreign banknotes received, distributed to the last beneficiary in batches or in one lump sum. In the event that it does not distribute all or part of the amount, we will be notified in an official letter indicating the amount remaining in its vaults.

B- The bank may not submit more than one request to withdraw the amount in one day.

A0 The standards that are used to reject foreign banknotes (dollars and euros) during the sorting and sorting operations if they meet one of the descriptions, the details of which are listed below:

Firstly; If it is cut in one of its corners, or if it is bruised, or loses any part of the leaf area.

secondly; If it is torn, it will be repaired with adhesive tape from any side.

Third: If it contains a large stamp or several small stamps that affect its features.

Fourth: If it shows traces of handling and use (ruined) such that it affects its shape or features.

Fifth: If foreign materials adhere to and affect its features, such as inks, dyes, glues, ground materials, or

Cooked, pasted, fats or oils.

Sixthly; If it is stored under incorrect storage conditions, it may cause it to turn yellow or give off a moldy odor.

7_ Mechanism for transferring cash deposits

A- All banks must use strong cars assigned to them or to entities specialized in transferring funds for the purpose of transferring cash deposits to and from this bank and between banks, and to provide us with the types and numbers of the strong cars or the authority responsible for transportation.

B- Providing the Central Bank with the names of the workers employed by the bank to transfer cash deposits into this bank, their addresses, and their identification papers, provided that they carry identification cards (pages) specific to the bank. Otherwise, the bank bears legal responsibility.

 

8- Adhere to Asa Anga’s instructions

In the event that banks do not adhere to the effective instructions, repeat banking violations, and do not respond to our request upon request, we will recommend to the Issuing and Treasury Department to refer the violating bank to the committee determining the penalties imposed on banks and non-banking financial institutions according to the Central Bank of Iraq law.

9 - The above-mentioned instructions will come into effect from the date of issuance of the book and will replace all our previous books and circulars in this regard.

[RJG]

I found MM's translation too:

Instructions and standards for the circulation and exchange of banknotes and counting and sorting mechanisms

 

Page 1 : good greeting .... All licensed banks provide instructions and standards for the circulation and exchange of banknotes and counting and sorting mechanisms Subsequently, in our circular numbered 9/2/20 and dated 1/15/2023 regarding unifying and updating the controls and instructions for the standards for the circulation of banknotes and their replacement, we attach to you the principles, standards and instructions that will be adopted in Counting, sorting, and receiving and delivering banknotes, we hope to carry out.  Please review and act accordingly, with appreciation Escorts - Instructions and standards for the circulation and exchange of banknotes and counting and sorting mechanisms. Page 2 : Instructions and standards for circulation and exchange of banknotes and counting and sorting mechanisms The Central Bank of Iraq, in accordance with its amended Law No. 56 of 2004, is responsible for determining the denominations of Iraqi paper and metal currencies, their standards and shapes, printing paper banknotes, and minting coins. It is responsible for destroying and replacing them and identifying defective ones. It may refuse to replace those paper or metal currencies or  They will be confiscated if the circumstances described in these instructions are met and that the Iraqi banknotes are homogeneous in their various denominations, have absolute discharge power and are accepted by the Central Bank of Iraq, its branches, banks, institutions and the public. Discriminating between their denominations by imposing a specific denomination on the public or refusing to receive a specific denomination is unlawful.  It is acceptable and is considered a violation of the law. We ask all banks to adhere to the instructions and standards for trading banknotes And their replacement and counting and sorting mechanisms, as shown below: 1 - Standards for currency trading A- Negotiable banknotes The banknote issued by the Central Bank of Iraq remains valid for circulation if it is exposed to any of the following: First: If one or more tears occur in it, not exceeding (3) cm, and it is repaired with transparent adhesive tape on one side. Or from two sides and it did not affect its features. Second: If it is damaged, one of its corners will be cut within a limit of 2 cm without affecting its features. Third: If it shows traces of handling and use, and has not been harmed or damaged that affects its shape, color, or size. B. Non-negotiable banknotes First: Banknotes are considered unfit for circulation if they meet one of the descriptions listed below, and their holder will be compensated Its full value immediately upon submission to government and private banks and their branches, and the banks subsequently deposit it With this bank or one of its branches, the corresponding amount is credited to their accounts without any fees. 1) If the banknote is worn out or damaged even though it is not torn and no parts of it are missing.  (2) If the paper consists of two different parts (numbers) and its area is close to the area of the banknote The original one is attached with adhesive tape. (3) If the banknote is attached with one or more transparent adhesive tape along its length or width. (4) If the banknote has cuts at more than one angle. (5) If the banknote is defective in print (in terms of design, size, color, or other security marks). carried by the real banknote). (6) If it contains seals or writings that do not affect its external appearance. (7) If the banknote loses less than 50% of its area. Central Bank Page 3 : Second - Damaged banknotes as a result of burning, burial, or any other reason: Damaged banknotes are received as a result of burning, burial, or any other reason not mentioned in the paragraph (1/B First) exclusively by this bank and its branches according to the following mechanism: 1- Required documents A- Civil status ID, unified card, department ID, and residence card.  b. Confirmation from the police station or a judicial authority in the event that banknotes are damaged as a result of being exposed to a gunshot or Contaminated with blood as a result of accidents. C- Provide the source of funds as follows: - Anything exceeding (10,000,000) dinars (ten million dinars) and up to (25,000,000) dinars (twenty-five million dinars), it is required to present the ID of the department if he is an employee, or a salary strip showing the amount of income and the length of service, or proof of the existence of a source of income that is compatible with the size of the amount to be exchanged, and the earner must submit  Proof of his practice of his profession: a professional practice license from the competent sectoral authorities, or a rental contract for a shop, or an annual production or non-production car. This proves the existence of a source of income commensurate with the size of the amount. More than (25,000,000) dinars (twenty-five million dinars) and up to (100,000,000) dinars. One hundred million dinars and requires submitting documents of ownership of real estate, shares, a sales contract, or any official documents Prove the legitimacy of the source of these funds (company title deed, partnership, contracting or equipment contract) in a manner appropriate The size of the amount offered 3/11  100% + 2 - In the event that the required documents submitted are not satisfied due to their authenticity or lack of proportionality and the size of the amount provided, the applicant will be referred to the Legal Department for the purpose of submitting a written pledge under which he bears legal and criminal responsibility for the accuracy of the information provided and that these funds came from legitimate sources and are not linked to any Illegal action or suspicious operations.  Collecting a percentage (15%) of the value of damaged banknotes for the benefit of this bank, due to damage as a result of misuse, burial, burning or any other reason, with the exception of banknotes damaged as a result of circulation, which will be replaced. Without commission 4 - In the event that it is not possible to recover damaged banknotes, it will be estimated by a committee formed for this purpose and issued. The committee makes its decision within fifteen working days. central bank Page 4 : 2 - Confiscation of damaged banknotes: The damaged banknotes that are not fit for circulation, described below, shall be confiscated, and their holder or the party that presented them shall be notified of the decision to confiscate them. Anyone whose banknotes have been rejected or confiscated has the right to submit a request to the Governor or whomever he authorizes through the General Director of Issuance and Treasury or the General Director of the Bank Branch to reconsider the issue. The decision, and the decision of the governor or his authorized representative shall be final: A- If changes were made to the external appearance of the banknote as a result of writing, drawing, printing or stamps Or it contains an adhesive. B If the banknote loses 50% or more of its area, and if there is evidence that convinces the Central Bank that The missing parts of the papers have been completely destroyed, and they will be replaced partially or completely. - Confiscation of counterfeit and perforated papers A - The counterfeit papers shall be confiscated, and whoever was in possession of them shall be provided with a receipt supporting the receipt of these papers, by the cashier or a competent employee in the Central Bank of Iraq and its branches, and all banks and their branches, and the details shall be recorded: the number of counterfeit papers, their categories, the name of the depositing customer whose deposits appear, and his account number in  Register before cashier.  B. The confiscated counterfeit papers shall be stamped with the counterfeit stamp bearing the name of the bank and branch and sent to the Central Bank By an official letter containing the information in paragraph (a) above. C - Banknotes with four holes per banknote that have leaked from the banknotes will be confiscated The invalidated items prepared for destruction in our branch (Mosul) after terrorist gangs occupied the headquarters of the same branch in 2014, where holes were pasted for the purpose of promoting them, as shown in Appendix No. (1). The banking system must confiscate them. And delivered to the Central Bank of Iraq. - Mechanism for counting and sorting banknotes in banks A: Banks must prepare counting and sorting centers with an area appropriate to the size of their deposits, and they must strive to acquire modern mechanization and update it continuously to ensure the counting and sorting of banknotes they receive from their customers, while employing qualified workers to do so, provided that we are provided with the preparation and types of machines used by the public administration and its branches. B. Banks send their cash deposits to the vaults of this bank and its branches after counting and sorting them, and separating the damaged ones into good-quality packed bags that are sealed using sewing machines designated for sewing the bags. Additional tape must be placed when sewing to increase the durability of the bag, with an adhesive tape whose color matches the color of the category that was packed.  Inside the bag, place an identification card on the bag describing its contents of banknotes, the name of the bank, the type and name of the person who packed the bag, and include the date of deposit, whether on the bag or the card. Release time 3 (1003) Page 5 : It is preferable to fill each bag with the name of one cashier. It contains (40) bundles, and each bundle contains (1,000) papers that are tightly tied on both sides using machines designated for this purpose. Each bundle contains (10) bundles, and each bundle contains (100) papers.  ) and two identification cards, the first (100) sheets and the last (100) sheets sealed with a seal bearing the name of the bank, the full name of one cashier, the type of denomination and the date, and in case If there is more than one cashier's name in one bag, the differences will be recorded at the bank.  C It is not possible to determine the name of a treasurer for discrepancies discovered in bank deposits if counting and sorting operations are carried out In this bank it was done through comprehensive machines. D. The packing of one bag (40 bundles) will take place in two patterns, as follows: - First: The denominations (1000, 50000, 250,500) dinars will be vertically (7) bundles for five rows, so the number will become (35) bundles, while the remaining five bundles will be  Two of them are horizontal on both sides, and the remaining three are vertical in the middle, so the number becomes (40) ties. Second: Denominations (25,000, 5,000, 10,000 dinars. The rule is (4) horizontal ties in two rows. The height is 10 ties, so the total number of ties in the bag is 40. H.  - For regulatory purposes, banks must commit to informing the Central Bank of the date and amount of creations in the two currencies central bank.  K local and foreign). Banks must open windows to replace damaged and damaged banknotes to the public, announce this through information signs and advertisements, organize a special register for the damaged currency, and deliver it to this bank. And its branches, promoting circulation in small denomination banknotes, and supplying all bank branches with them.  G - Banks deposit damaged banknotes received from their customers or from the general citizenry in any quantity, even if it is a single banknote, provided that it is well sorted and actually damaged, and sent in letters showing their condition and amounts according to a delivery schedule determined by the issuing department.  And safes are exempt from fees for counting and sorting operations. If there are banknotes valid for circulation in your damaged deposits in large quantities, this is considered a banking violation for which the bank will be held accountable and fees will be charged. Counting and sorting operations on the entire deposited amount. H. Those authorized to visit this bank will be nominated by the Issuing and Treasury Department according to the electronic nomination form prepared for this purpose, provided that the time period for authorization is one year, to be renewed upon expiration of the period. When the authorized person changes, we will be notified in an official letter.  Correspondence with this bank shall be signed by the General Manager of government banks, the authorized director in relation to private banks, and the regional director in relation to the foreign branch or their representative in the event -------------------------------------------------------------------------------------------- There is more to this article foudn on the CBI website,(11 pages). But, we can see they put out the instructions for a good reason. They'll be doing a lot of replacing of large notes with smaller notes!! imo ~ MM

[BETTYBOOP]

4 hours ago, psdon said:

Oh, by the way. there's a castle in Scotland named after my family

Which castle would that be?