5 Dinars

Iraq's paper currency in 1940 was issued not by a central bank but by the Currency Board system established under the British Mandate — meaning this note was ultimately backed by sterling reserves held in London, a colonial-era arrangement that persisted well into the independent state's early decades. Bradbury Wilkinson, a firm with a long pedigree in high-security intaglio work, handled the printing, as they did for much of the Iraqi series through this period.

The 1940 issue came during a politically volatile stretch: the following year saw the short-lived Rashid Ali coup and a brief war with Britain, after which the currency board structure was reasserted under firmer Allied control.