Central Bank of Iraq Warns about Fraudulent Banknotes
By John Lee.
The Central Bank of Iraq (CBI) has issued a warning to the public regarding the circulation of foreign banknotes - including authentic, withdrawn, and counterfeit currency - used by fraudsters to deceive citizens.
According to the CBI, criminals lure individuals into exchanging these notes for Iraqi dinars at inflated rates under the false promise of exceptional investment returns. It gave examples of Venezuelan and Belarusian currencies.
The bank urges citizens and relevant security and regulatory authorities to remain vigilant and avoid dealing with any foreign notes outside the officially recognised currencies handled by the central bank and licensed banks.
(Source: CBI) Tags: banking, Belarus, Central Bank of Iraq (CBI), cg, counterfeit, currency, featured, foreign exchange, forex, fraud, Venezuela
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Iraq Business
2 hours ago
- Iraq Business
Esyasoft, ZK Holding sign MoU on Iraq Energy
By John Lee. Esyasoft Holding has signed a Memorandum of Understanding (MoU) with Abu Dhabi-based investment company ZK Holding Group, with the aim of "transforming Iraq into a regional hub for sustainable energy through cutting-edge innovation and cross-border collaboration." The agreement was signed by Abdul Karim Sawan, Vice President of International Business at Esyasoft, and Ahmed Muhsin, Chief Commercial Officer of ZK Holding. Key goals of the partnership include: Revolutionising Iraq's energy infrastructure; Innovating in solar energy, AI-powered smart grids, and energy storage; Enhancing technical capabilities and attracting sustainable investments and stimulate long-term economic growth. The partners aim to position Iraq as a regional hub for clean energy and innovation through strategic collaboration and technology deployment. (Source: Esyasoft)
Shafaq News
12 hours ago
- Shafaq News
Iraqi forces launch security sweep in Mosul
Shafaq News/ Iraqi security forces launched a wide-ranging security operation on Saturday in southeastern Mosul, aimed at searching for wanted individuals. The Popular Mobilization Forces (PMF) stated that the operation involves units from PMF Operations Command—including the 30th, 58th, and 59th brigades—alongside army and police forces, intelligence units, and various PMF directorates specializing in medical services, explosives, engineering, and information technology. The operation includes the search of villages, canals, islands, and riverbanks along the Tigris River, as part of a coordinated effort with security agencies. The PMF emphasized that this operation is part of its ongoing security plan to prevent any disturbances during Eid al-Adha.
Shafaq News
12 hours ago
- Shafaq News
Iraq's domestic debt surpasses $60B by March 2025
Shafaq News/ Iraq's domestic debt increased to 85.536T IQD ($60.5B) by the end of March 2025, the Central Bank of Iraq (CBI) reported on Saturday. The figure marked a rise from 82.608T IQD ($58.5B) in February and a 2.91% increase compared to the end of 2024, when domestic debt stood at 83.050T IQD ($58.8B). Over the longer term, the debt has surged by 17.53% from 70.585T IQD ($50B) in 2023. According to CBI, the debt comprises bonds valued at 12.567T IQD ($8.9B), loans from state-owned banks totaling 5.800T IQD ($4.11B), and loans from financial institutions amounting to 13.352T IQD ($9.4B). It also includes 2.030T IQD ($1.4B) in treasury bills for the Finance Ministry, 51.030T IQD ($36.16B) in treasury transfers, and an additional 755.519B IQD ($535.32M) in obligations on the Finance Ministry. CBI did not elaborate on the potential impact of this rising domestic debt on Iraq's fiscal landscape.
