Central Bank: Fees imposed on currency damaged due to negligence
Central Bank: Fees imposed on currency damaged due to negligence
10-19-2026
The Central Bank of Iraq announced on Monday fees for currency damaged due to neglect.
The bank’s media director, Haider Ghazi, told the official agency that “requests to replace damaged currency are received directly through banks, as any citizen can visit the bank to deposit the damaged cash amounts.”
He explained that “some banks do not accept damaged currency, which has caused problems for citizens, while the Central Bank deals directly with banks and financial institutions, and does not deal directly with citizens.”
He added: “The Central Bank decided to open an electronic platform via the OR platform, which allows the citizen to access it and enter all the required data according to the attached video and complete the necessary procedures, after which an appointment will be set for him to visit the concerned authority and hand over the damaged currency, regardless of the amount.”
Regarding the mechanism for replacing damaged currency, he explained that “there are instructions in this regard, as some cases of damage are due to negligence, lack of caution, and lack of concern for preserving the currency, while other cases result from circumstances beyond the control of citizens, i.e., they occur by fate and destiny.”
He continued: “In cases where the damage is not due to negligence, the currency is replaced free of charge. However, if the damage is due to lack of caution or negligence, the bank is not obligated to bear the full replacement costs, as a specific percentage is charged according to the approved instructions.”
burathanews.com
