History: The National Bank of Iraq became the Central Bank of Iraq in 1956. Saddam Hussein, president of Iraq (1979–2003). The dinars shown were “a powerful instrument of repression”. Beginning on 18 March 2003 (the day before United States forces entered Baghdad as part of the 2003 invasion of Iraq), nearly US$1 billion was stolen from the Central Bank of Iraq.
That month, a handwritten note signed by Saddam Hussein surfaced, ordering $920 million to be withdrawn and given to his son Qusay Hussein. Bank officials stated that Qusay and another unidentified man oversaw the cash– boxes of $100 bills secured with stamped seals known as security money, being loaded into trucks and trailers during a five-hour operation. This was considered the largest bank heist in history until 2011, when on June 14, 2011 / CBS NEWS Report: $6B missing in Iraq may have been stolen from Iraq reconstruction program.
Shown are Saddam Hussein regime 5-and 100-dinar notes. (Iraqi Dinar 1 IQD = 0.000929 CAD as of Jan 2023).
The Iraqi dinar notes bear his image, with a vignette depicting the Battle of Qadisyyah on the 5-dinar note. The currency shown is 6½” long x 2¾ inch high.