Unregistered KRI Firms Locked Out Of Official Dollar Rate
At a Glance
- KRG Investment Board urges companies to use the official 132,000 IQD per $100 rate.
- The CBI denies official-rate dollars to firms missing from its electronic platform.
- Unregistered investors buy market dollars at 155,000–156,000 IQD with zero government compensation.
Mohammed Shukri, Chairman of the Kurdistan Region Investment Board, stated that the board is actively encouraging investors and companies to price transactions for buyers using the official exchange rate of 132,000 Iraqi Dinars per $100.
Key Statement and Focus Area
- Kurdistan Region Investment Board Chairman stated that a portion of the companies are not registered on the Central Bank of Iraq's electronic platform.
- The Investment Board is in favor of companies receiving 100 dollars at 132 thousand dinars from buyers.
The board chairman emphasized that the Central Bank of Iraq does not provide dollars at the official rate of 132,000 dinars to unregistered companies.
Kurdistan Region investors are forced to purchase dollars on the parallel market at rates between 155,000 and 156,000 dinars per $100.
This is because the Iraqi government does not compensate them for the spread between the market price and the official CBI rate.
FYI
Accessing dollars at the official Central Bank of Iraq rate remains one of the primary financial challenges facing investors and companies across the Kurdistan Region.
Because many firms are missing from the CBI’s electronic platform, implementing the official rate has proven impossible, leaving pricing highly inconsistent across various development projects.
Currently, a large portion of housing companies and investors in Erbil, Slemani, and Duhok are pricing transactions at 135,000 dinars per $100; however, due to their lack of CBI registration and subsequent exclusion from official currency allocations, the standardized rate has not been universally adopted.
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