Economy, Business And Markets

CBI Issues High-Security Notes

CBI Issues High-Security NotesCBI Issues High-Security Notes

The secretary general of Central Bank of Iran (CBI) has stated that the bank is the main organization in charge of issuing banknotes with high security features.

Mahmoud Ahmadi said on Tuesday that Iran is now self-sufficient in producing paper used for monetary and banking purposes.

Speaking in a conference of Counterfeit Deterrence Headquarters in Tehran, he said it is the direct responsibility of the central bank as per law to issue and circulate Iran Checks (500,000 rial and one million rial notes) and other notes, though it is done through collaboration with other related authorities.

The process of printing banknotes started in 1984 with the 200-Rial banknote, and now by using advanced technologies, Iran has attained self-sufficiency in issuing all bank notes and securities, Ahmadi noted.

He asserted that considering the importance of the subject, Iran has been producing high security featured papers for notes and securities since 2003. Having the equipment and technologies required, the CBI also produces other documents with security features such as birth certificates and National ID Cards among others. As a result of Iranian experts’ quality work, “counterfeiting has not been an issue.”

According to an enactment by the Supreme National Security Council, organizations responsible for detecting counterfeit money and documents are obliged to report to the CBI.

The conference of Counterfeit Deterrence Headquarters was held by the central bank with the collaboration of 11 ministries on October 27-29 at the IRIB International Conference Center.