Damaged banknotes can now be replaced via online service, Iraqi Central Bank says

BAGHDAD — Iraqis can now apply online to replace damaged banknotes, the Central Bank said Sunday, launching a system meant to cut paperwork and expand digital banking services.

Applications are submitted through the government’s Ur e-services platform, without the initial paperwork having to be completed in person, the bank said. Applicants enter their details and register the request online, and the relevant Central Bank departments then process the replacement. The portal is at currency.app.cbi.iq.

Iraq remains heavily reliant on cash despite efforts to expand electronic payments. About 102 trillion dinars (about $67 billion at the official rate), nearly 92% of the currency issued, was held outside banks at the end of June, according to Central Bank data.