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Central Bank of Iraq Withdraw 50 dinars Banknote from trading

Central Bank of Iraq Withdraw 50 dinars Banknote from trading

The CBI has decided to withdraw the 50 dinar Banknote currency and prevent the circulation in Iraq. 

The bank mentioned in a statement that the bank decided to "pull the banknote of 50 dinars category off trading,", adding that this step wasdue to sthe halt of use by the public in trading activities and based on the authority provided to article 36 of the Central Bank Law No. 56 of 2004, adding, "The duration of the replacement category above. is Two months starting from 01/03/2015 until 30/04/2015, "adding that " after the end of the replacement, the banknote becomes void and has no discharge power will not be accepted in the Republic of Iraq. " 

The central bank called the  "banks and their branches to replace banknotes without a fee or commission, and the banks must deposit the banknotes in the central bank and its branches for the purpose of registering the equivalent value in the existing accounts."

Updated 09 Mar 2015 | Soruce: Radio Dijla |
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