The new governor of the Iraqi central bank reverses a controversial decision

Shafaq News/ The Central Bank of Iraq confirmed on Tuesday that it is taking a new mechanism to manage and improve the Iraqi currency, indicating that it decided to use the official signature on the banknote instead of signing the name.  

The bank's media office said in a statement received by Shafaq News Agency, "The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mokhif, chaired today, Tuesday, a meeting of the currency affairs committee in the bank in the presence of all members".

The statement quoted Mokhif stressing, "the importance of resuming the use of official signature on the exported currency and not using the signature with the name that was previously approved by the committee in a previous meeting".

This is mokhif's first decision since taking the office last week.

The new governor indicated that, "the committee discussed several issues and took a number of decisions that would contribute to raising and improving the level of currency management".

It is noteworthy that the Central Bank of Iraq issued in 2018 a banknote of one thousand, five hundred, and two hundred and fifty dinars, and the name and signature of the governor were added to the design of the currencies.

The economic expert, Salam Sumaisem, told Shafaq News at that time, that the governor of the Central Bank, Ali Al-Alaq, committed "A big violation" by placing his name on the Iraqi currency in its new edition, "changing the signature is not something easy for a central bank governor. Countries of the world, especially in international banks, which are member states of the International Monetary Fund", wondering, "Is there any currency of a strong country that has a person's name on it? Is the Iraqi dinar deteriorated to this degree until it is made in the name of a person?".