By John Lee.
Iraq is introducing new Iraqi Dinar notes with improved security features, such as guarantee ribbons and the internationally used SPARK feature.
The Central Bank of Iraq treasury director Ihsan Shamran al-Yasseri announced the move, noting that this was a positive step forward that would help strengthen the currency.
The new notes, to be used alongside the old until they are phased out, will include 250, 500 and 1,000 Iraqi dinar denominations as well as larger denominations of 5000, 10,000 and 25,000 dinars. Al-Yasseri said of the move:
“The new currency, of which the small value ones have been offered for circulation, is not much different in form from the notes currently being used by the public. But these are infused with safer and more effective technical specifications containing security symbols and many technical characteristics that will give the notes longer life and make it difficult or almost impossible to counterfeit. Many of the present currency notes have become overused and it was necessary to renew them with the addition of features that would make the notes more able to effectively resist the constant circulation as well as attempts at forgery.”