Kurdistan will prevent dealing in the dollar in 2024 if Baghdad wants - a special statement
The Minister of Commerce in the Kurdistan Government, Kamal Muslim, confirmed in a statement to the 964 Network that the region only adopts the Iraqi dinar in transactions at the level of border crossings and airports, and said that measures to prevent the circulation of the dollar will include the real estate market, car trade, and other activities during the next year, if a decision is issued to do so by Central Bank of Iraq.
The Central Bank of Iraq decided earlier in 2023 to limit all local transactions to the Iraqi dinar, and after that the Ministry of Interior launched a campaign to prevent dealing in dollars in all governorates with the exception of the Kurdistan region, while indicating that the penalty for violating the law reaches 5 years in prison.
Kamal Muslim - Minister of Trade in the Kurdistan Region:
We are committed to all instructions and decisions regarding stabilizing the dollar exchange rate and increasing the value of the Iraqi dinar, as we deal in the Iraqi dinar exclusively at the level of border crossings and airports.
At the market level, we will also commit to imposing dealing in the dinar if a decision is issued by the Central Bank requiring it to be used in all market transactions, such as buying and selling goods, homes, and cars in the Kurdistan region.
Network:
Currency market experts say that the issue of “dinarising” local buying and selling operations in the Kurdistan region will have a major impact on the rise in the value of the dinar, because only merchants and tourists need the dollar, and they can obtain it from the Central Bank of Iraq. link
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