Starting new year

Kurdistan Region shifts housing loan payments from dollars to dinars

ERBIL, December 3 — Investment Board of Kurdistan Regional Government is devising a plan to transition housing loan installments from dollars to dinars, urging citizens to make payments in the local currency to project owners.

Bargasht Akrayi, the spokesperson for the Investment Board, revealed that “discussions are slated with project owners midway through this month to establish an agreeable dinar-based pricing structure for citizens. The initiative, aimed at benefiting the populace, seeks to address the prolonged instability and upward trajectory of the dollar exchange rate.”

Akrayi asserted, “What we are doing will be in the interest of the citizens,” underlining the government’s commitment to creating a more favorable financial environment. The implementation of this shift is anticipated to commence from the upcoming new year, marking a significant step in the currency dynamics of housing loan repayments in the region.