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NIC Directs Investment Companies to Adopt the Official Exchange Rate of the Dolla


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NIC Directs Investment Companies to Adopt the Official Exchange Rate of the Dollar

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Baghdad /NinaThe National Investment Commission on Wednesday directed all investment companies contracting with the Commission to build residential complexes to adhere to the official dollar exchange rate set by the Central Bank of Iraq of 1470 dinars to the dollar. The official spokesperson for the authority, Hanan Jassim, said that “the directive came based on the Cabinet Resolution No. (23026) of 2023, which stipulated that the necessary measures be taken by the companies concerned with investing in residential complexes, and not to require registered citizens on the aforementioned housing units for more than the official approved price, and vice versa, the violating companies will take the necessary legal measures./ End5
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Official Directive to Adopt Iraqi Dinar Rate

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By John Lee.

Iraq's National Investment Commission (NIC) has issued a directive to all companies building residential complexes in Iraq to follow the official dollar exchange rate set by the Central Bank of Iraq (CBI), specifically 1,470 dinars per dollar.

Mrs. Hanan Jassim, the official spokesperson, states that this directive is in accordance with Cabinet Resolution No. 23026 (2023) and requires companies to not charge citizens more than the official price.

"Companies violating this directeve will face legal action," she added.

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