Date Posted 16/11/2017 02:49 PM
The Central Bank of Iraq decided to increase the fines on banks that deposit counterfeit securities to 700 percent, noting that the foreign currency deposited will be confiscated as Iraqi securities.
The Central Bank of Iraq aims to limit the appearance of counterfeitpapers and spreads in the increase, decrease and different categories and the emergence of foreign currency notes within the deposit filed by the citizen with this bank, it was decided to increase the fines on these cases, noting that the fines will include banknotes that are counted and sorted from November 11 And the percentage of fines for counterfeit banknotes will be increased from 500 to 700 percent. The foreign banknotes discovered in Iraqi securities will also be confiscated and revenues will be recorded to the public treasury.
altahreernews.com
