CBI governor: Currency changes The Governor of the Central Bank of Iraq (CBI), Nizar Nasser Hussein, affirmed on Sunday, September 6, 2026, that redesigning or issuing new currency denominations falls strictly under the legal jurisdiction of the central bank, whereas re-denominating the currency by deleting zeros requires formal legislation passed by the Council of Representatives.
Currency Re-denomination vs. Currency Design: Hussein clarified the legal division of monetary authority: updating currency notes, aesthetics, and security specifications remains an autonomous CBI prerogative, but deleting zeros from the Iraqi Dinar necessitates primary statutory approval by parliament.
The total sovereign issued monetary mass stands at 107 trillion IQD, while active liquidity circulating within domestic market transactions approaches 40 trillion IQD, reflecting persistent physical cash-hoarding https://www.iraqinews.com/iraq/central-bank-iraq-currency-redesign-removing-zeros-parliament-nizar-hussein-2026/
7September 6, 2026 2.1K 30
