1/2 Dinar

Iraq's first nationally issued banknotes, introduced under the 1947 National Bank of Iraq Law, replaced the Indian rupee-linked Iraq Currency Board notes that had circulated since the 1930s. The half dinar was the smallest denomination in this inaugural series — a deliberate choice given the purchasing power involved and the rural economy it was designed to reach.

Bradbury Wilkinson printed this series from their New Malden works, a firm with deep experience in colonial and post-colonial currency contracts across the Middle East and Africa. The watermark is the primary security feature — relatively modest for the period, but consistent with the specifications the National Bank negotiated for this first issue.