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Central Bank warns against circulation of $1 million commemorative notes
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Baghdad today -
The Central Bank of Iraq renews its warning against the circulation of commemorative notes in the denomination of one million US dollars that are used to defraud and defraud citizens.
Stressing that the security and regulatory authorities will pursue those who promote these commemorative notes and take legal action against them. He pointed out that the highest denomination of the US dollar in circulation is the $100 denomination.
It is noteworthy that the aforementioned commemorative note is not circulated in the global currency markets as it was issued by the American Millionaires Association. This note is not considered cash as it was not issued by the US Federal Reserve and does not represent any financial instrument. It is used for gifting purposes only.
In February 2020, the Central Bank of Iraq warned against circulating the “one million” dollar bill because it is a non-cash note.
Central Bank of Iraq
information Office
25 - July - 2024
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