Prime Minister’s economic adviser Mazhar Muhammad Salih said on Monday that the Central Bank of Iraq’s new electronic system for replacing damaged banknotes is an important step toward modernizing banking services.
Salih said the system could make the process easier for citizens by reducing paperwork, cutting delays and improving transparency and efficiency. He added that using technology in government services could help protect citizens’ rights and strengthen public confidence in the banking system. currency exchange
However, he stressed that the system’s success will depend on how well it works in practice, not simply on launching the electronic platform. He said the process must be easy to use, the replacement rules must be clear, and requests must be handled quickly without unnecessary complications.
Salih also said the initiative could serve as a model for improving other banking services and expanding digital government services across Iraq.
The Central Bank previously announced that citizens can request the replacement of damaged banknotes electronically through the “Our” platform. Applicants must enter and verify the required information, after which the relevant Central Bank departments will complete the necessary procedures.
