Fairfax Media’s Nick McKenzie and Richard Baker have reported the Reserve Bank attempted to sell plastic bank notes to Saddam Hussein in May 1998.
According to the report, Note Printing Australia — wholly-owned by the RBA — launched “Project Delta” to secure $80 million in funding the dictator had allocated to buy plastic note printing technology.
Reportedly NPA directors knew of the secret discussions conducted through Hussein’s bodyguard and brother-in-law, which happened at the height of United Nations sanctions against Iraq.
RBA officials working on the project reportedly said the transaction could be conducted through a Jordanian bank “with the green light of SH [Saddam Hussein].”
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