Iraq Central Bank Launches Online Damaged-Banknote Replacement Portal: How to Apply Today
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The Arab Post
- . October 19, 2026
- . Update: October 19, 2026 3:53 pm
This weekend brought a significant shift in the financial landscape in Baghdad, with a major leap towards digitalization. On Sunday, October 18, 2026, Iraq Central Bank banknote replacement, Iraq Central Bank launches online damaged-banknote replacement, which is meant to make it easier for people to deal with the national monetary authority.
The new system has been designed so that individuals and businesses can start swapping currencies 100% online, according to a statement made by the Central Bank of Iraq (CBI). The CBI hopes to eliminate the huge amount of paperwork involved and drastically shorten waiting periods for the public by leveraging the government’s single Ur electronic platform.
The Iraqi economy is a cash economy, although in recent years the Government has looked to digital banking solutions. CBI data shows that some 102 trillion dinars, equivalent to about $67 billion or almost 92% of all the currency issued, have not yet been collected by the regular banking system. It is therefore essential that there is a rapid, efficient method for replace damaged banknotes in Iraq.
How to Access the CBI Damaged Currency Exchange
There is a strict protocol for citizens to follow to use the new CBI damaged currency exchange; it is a digitized protocol. All the users can avail the service on the portal of the CBE immediately after they visit it, which is dedicated for using the service; the address of which is currency.app.cbi.iq.
The claim is submitted when the users log in the Ur electronic platform and fill the electronic application form. They need to be uploaded copies of the National Identity Card and residence card. In addition, the portal requires applicants to submit official documents if they are applying for large amounts of money, to prove the origin of the money is legal.
The request is submitted to the central bank’s Issuance and Vaults Department for review from afar. Applicants will get SMS text messages that will update their application status with an automated message indicating that they are provisionally approved, according to statements made by the Iraqi News Agency (INA).
Finalizing the Physical Swap – Iraq Central Bank banknote replacement
Note that there is still a short and planned in-person visit required to facilitate the exchange. After passing preliminary verification process by digital application, the user visits the cash counters at CBI where he/she books a specific time slot.
When employees arrive at their banks, they just compare the payment that’s been approved in the digital file to the real currency. If the currency submitted is mutilated or has defects, the teller performs the replacement in one visit, following the CBI’s replacement procedures. The officials stated that if this scheduled appointment is missed then the applicant’s application will be automatically cancelled and he or she will have to reopen the digital process.
This marks a decisive step towards national e-governance by the Iraq Central Bank through the start of protocols for replacing damaged banknotes on the Internet. The CBI made the most cumbersome administrative process online, making it easier than ever for anyone in Iraq who needs to exchange damaged banknotes with an efficient and transparent process. Keep an eye on policy announcements by the General Secretariat for the Council of Ministers for more information on national digitisation initiatives.
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