Arab Bank of Iraq offers a service to replace damaged banknotes in accordance with the instructions and regulations of the Central Bank of Iraq, ensuring the protection of customer rights and regulating the cash circulation process.
What constitutes damaged banknotes?
A banknote is considered damaged and unfit for circulation if any of the following conditions apply:
• It is torn or damaged, even if no parts are missing.
• It consists of two separate pieces held together with tape, and its area is similar to that of the original banknote.
• It is held together by one or more pieces of transparent tape along its length or width.
• It is cut in more than one corner.
• It has a printing defect in terms of design, size, color, or security features.
• It contains stamps or writing that do not affect its external appearance.
• It has lost a portion of its area within the percentage permitted by the Central Bank of Iraq's regulations.
Service Procedure
• Damaged banknotes are accepted at all bank branches.
• They are inspected according to the regulations approved by the Central Bank of Iraq.
• The outstanding amount will be either refunded or deposited into the customer's account according to the approved procedures.
At Arab Bank Iraq, we are committed to providing reliable banking services that enhance confidence in the banking sector and support the regulation of cash transactions in accordance with official regulations and instructions.
For more information, please visit your nearest branch or contact our Customer Service Center at +9647844444466
