On February 26, 2015 the Central Bank of Iraq issued a press release announcing for the people of Iraq to stop using the 50 Iraqi dinar currency. The Central Bank is requesting all banks to accept the 50 IQD banknotes with fees or commissions and return the banknotes to the Central Bank.
I have the press release from the Central Bank of Iraq translated from Arabic to English. You can download the document in the Adobe PDF below.
Central Bank of Iraq Press Release on the recall of the 50 Iraqi Dinar banknotes from Iraq.