After reading a few Iraq Dinar forums on the net, there is a perception that the CBI is transferring Iraqi Dinar currency to other countries to pay off debts or possibly depositing the Iraqi Dinar in interest bearing accounts in other countries.
If the CBI was indeed transferring currency to other countries to pay off debts or place in a deposit interest bearing account, it would do so only in US dollars and not in Iraqi Dinars. Doing so in Iraqi Dinars would violate the laws that are in place at this time.
In early 2005 the CBI made an announcement that it had deposited 5 billion US dollars inside the Federal Reserve in New York. This transaction was done in US dollars and not Iraqi Dinars. Keeping in compliance with current Iraqi Laws and maybe if at all any agreements made with the IMF and the World Bank.
The paragraph below is the law in regards to the Iraqi currency and the CBI.
CPA Order 56, Section 7 , para 1.
1. The CBI shall have the exclusive right to issue banknotes and coins intended for circulation in Iraq. Banknotes issued under this Article shall be a first charge on the assets of the CBI. The CBI shall make appropriate arrangements for the issue of its banknotes and coins as required for circulation in Iraq. Banknotes and coins issued by the CBI and intended for circulation in Iraq are not promissory notes, bills of exchange, or any other type of commercial document under the applicable commercial law, and the CBI is obligated to honor them only as provided for in this Law.