Director General of the banking and credit of the Central Bank of Iraq to the Journal: New security features and powerful made a big leap in the Iraqi banknotes


general manager of banking and credit of the Central Bank of Iraq to the Journal: the new and powerful security features made ​​a big leap in the Iraqi banknotes

Private Aljornal-

Photo by Mohamed Kalash

The Central Bank of Iraq of the oldest institutions in Iraq and the oldest was the impact of his work for years a positive impact on the monetary and fiscal policy of the country and hurt the bulk of his interest in the plans and proposals for the strengthening of the local currency “dinar” The newspaper Il Giornale economic dialogue with the Director General of thebanking and credit at the central bank Ahsan Shomran Yasiri .


Journal: Let’s talk about the beginning of the shapes that accompanied the ten thousand dinars category and the much talk about the existence of fraudulent amounts?

Yasiri: The central bank to review its series of banknotes, conducts the necessary improvements, and that each banknote lifetime become his non-negotiable due to damage and damage to her therefore, between the duration and the other being reviewed to put the banknote technically or aesthetic or aspects, technical content and security features.When the CBI put the two papers Alnkaditin new categories (10000) dinars and 25,000 dinars after adding a number of new and powerful security features, the latest so big leap in the Iraqi banknotes, although that paper is printed after 2003 were good printing paper and it carried several excellent security features, and printed a major printed banknotes companies in the world have, the central bank decided to add several new security features, the most important transparent window, a new German technology used by a number of Arab Gulf states, as we have added a string escrow width (4 mm) a moving stimuli, the bar is being built inside the paper before printing Although the paper bearing the transparent window security thread and a moving stimuli become impossible to warping.

He asked the central bank from printing company technical modification in the 2015 edition that is causing the window (the window cut out of the paper) after the paper manufacturing and pre-printed. Then paste transparent tape covering the window, and then being printing on paper, and that makes part of the printing on transparent and not underneath the tape.

The company has requested that allows the existence of an empty area on the transparent window to ensure the printing quality even if creep happened fraction of a millionth of a millimeter, because the printed banknotes being put thousands (Alhitat) of paper on top of each and cut the window into the laser and then covered tape transparent crowd may note that banknote of a class (50000) dinars included this white space around the transparent window and also will include the edition 2015 of the banknote of a class (25000) dinars this vacuum white and therefore there is no counterfeiting of the new banknote, and I wish to refer to two things, first that the counterfeit banknotes Iraq is one of the types of inferior and simple forgery, which the public can not easily recognizable, and can the banking system, of course, revealed as easily as that counterfeiting in Iraq is one of the less crimes on Iraqi banknotes compared counterfeiting happens with banknotes of other countries, which constitutes a very small percentage of banknotes size deposited with banks or with the central bank and the second thing is that there is almost an exaggeration intended to show the issue of counterfeiting Iraqi banknotes, an argument might be to contribute to the weakening economy and the disarmament of the Iraqi public confidence in state institutions .


Journal: Continuous switch to the shape and type of work how citizens suffered at a time, with the appearance of defects and violations, and this shows that the preparation and the process of preparation of the specifications were not well thought out and the desired level of urgency and conducted in a manner as is going on in the street?


Yasiri: The process of changing the banknote or make some changes and developments it is not easily and are at different stages and are subject to the assessment of experts and committees Changing banknote starts with a decision of the Board of Directors proposal of the version and cabinets or committee currency Affairs Department, then the subject topic of studies and meetings between the Governing Council and the Commission currency Affairs and the version and cupboards. When you select a format and general content, costing an artist or a more developed initial design, then discusses and evaluates the design, if the case settled on the design of art as pallets referred topic for companies discreet in the world to develop design in banknotes format and sends it to the Central Bank, which restores each design to the company that designed with proposals that wants them. Typically Designers companies come to Baghdad to trade with them and request changes and the necessary developments, after the design is complete, ask the Central Bank of the companies submitting bids in accordance with the general rules, it means that all discussions designs that are made ​​with companies not be compared to the cost and when submitting companies for bids and choose the best offer, the referral of the tender to a certain company, a new phase of discussions and dialogues and meetings of the maturing design by the bank approval and allow it to proceed with course begins example, the changes that have taken place on the paper of a class (10000) dinars took about 3 years, and it took the paper design of a class (50000) dinars, and the stages of the design around (5) years and this is the nature of things that take a switch banknotes long time and can not be urgency and all comments received from the Iraqi banknotes are appreciated and pride from the central bank, as we realize that the overall taste of the diverse community, Iraqi and rich taste, and the Iraqi cultural and social heritage generates a large spectrum of visions and perspectives that can not satisfy no matter how painstakingly stylists .


Journal: Is the CBI fears of a Tzoiralamlh and how to deal if it happens?!

Yasiri: Iraqi banknotes printed with the well-known global printing companies and the Central Bank to deal with companies that have factories for paper, because some of the security features included in the pulp which is pure cotton, while the construction of other properties within the paper, and therefore the machines to print banknotes manufactured images and security features on banknotes, which is itself considered one of the security features and therefore all attempts of counterfeiting by the criminals do not live up to what banknote purebred available for it, and it becomes detectable easy once inform the public about it, not to mention the banking system and must refer to the great efforts carried out by the security services in the fight and the fight against counterfeiting operations, which contribute between two and the other in the arrest of gangs who are trying to enter such securities to tradingbased on the foregoing, all the modern appliances that you would expect their contribution to the printed false papers will not be able to pass paper fakes of the banking system, and everything can be located is outside the banking system .


Journal: Are there certain actions carried out by the Iraqi banking system in the detection of counterfeit currency, and what are the measures taken in the event of forged currency received or captured quantities?


Yasiri: the banks and the Central Bank as well as large scanners and shops with financial institutions revealed the fake and when it detects fake and sent to the Central Bank and the central bank when the discovery of counterfeit securities in banks’ deposits in imposing a fine on the bank equivalent to five times the counterfeit paper value of this procedure comes induce banks and employees where the necessary diligence when receiving banknotes from its customers. But when the bank discovers counterfeit paper in customer deposits, it will be confiscated and an investigation with the customer under the stomach form for this purpose and sends it to the central bank. Here, the bank is not exposed to the fine but calls for the results of the investigation carried out .


Journal: Currency damaged another problem facing citizens, with some refusing to receive a number of arguments to the ball dose not uncles and bind in this matter?


Yasiri: the public has encountered a problem in dealing with damaged or affected leaves. The central bank has responded to this issue through several measures, we have to pump very large quantities of new securities (non-current), especially of small groups (one thousand dinars or less) as of the beginning of 2013 to the banks and we had to open the window in the Central Bank to switch to the public (which of course, is not the function of the central bank ,and we have to take tough measures against banks that refuse to receive banknotes damaged or torn from the customers. as banks to prevent us from paying the damaged leaves or shredded to the public or paid staff or pensions. we asked the actors received by banks such as these papers to inform us or the amount banks departments so for the purpose of fines and penalties on them. We continue to follow-up and we look forward to that we receive specific information about the names of the banks and their affiliates are acting in that vein because we can not restrict the problem only through inspection committees that we do in addition to the cooperation of institutions and people and means media .


Journal: on Small currencies also did Atawwad coins as it was and what an inhibitor of readdressing including existing ones?


Yasiri: The central bank will put coins when they initiate the implementation of the project to delete the zeros in the future, more sustainable mineral Currencies in circulation and exposed to damage, such as banknotes, especially small groups that are inherently not Thoudy carefully holders .


Journal: Is there a correlation between the dollar auction and the emergence of especially large groups of counterfeit currency 25 000 dinars?


Yasiri:  There is no relationship between the dollar auction of counterfeit banknotes. All banknotes deposited with banks or the central bank, whether it’s for the purpose of buying the dollar or to promote the accounts, they are checked thoroughly and are fake detect if any.By the way, there is no category (25000) dinars fakes as Zkrtkm, the existence of the fake of this class and other classes, is very limited .. For example, the proportion of fake discovered in deposits of banks for the month as 1/2015 up to 8 ppm which is a very low rate compared international standards .


Journal: announcement by the print category for 50,000 dinars, followed by 100,000 dinars, which increases people’s fears and perhaps are not taken to deal with large-scale Are there any guarantees that the ability to forge?


Yasiri:  The Print category (50000) dinars came to improve the current series structure of the Iraqi banknotes, although the Iraqi currency Exporting cover very high marketable than many which exist in other countries, but the Iraqi currency structure is limited, as the highest category in the current series is 25,000 dinars, which sometimes fail to meet the big-Alokiem transactions, which are forced to use public dollars to complete the transaction. When we printed the category of (50000) dinars or the (100,000) dinars if the bank decided that in the future, will the presence of these securities to meet public demands in the achievement of high financial value of the transaction and will ease their suffering carrying many banknotes and will reduce the cost of storage and transport and for the paper the (50000) dinars has met with wide acceptance from the public because it is convenient to transport and storage, as well as security specifications that we have mentioned a signs and characteristics guaranteed and powerful .


Journal: Do you have a number for the size of the fake money received by the market and Almtdolh now, if any?


Yasiri: Statistics fake sent monthly to the parliament and the security authorities a minimum limits. For example, it was discovered the limits of (1700) fakes a sheet of banks total deposits in excess of 250 million sheets .


Professor Ihsan Shomran Yasiri general manager of banking and credit of the Central BankThank you for this economic dialogue and sensitive except you more success in the development of monetary and fiscal policy for Iraq.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s