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Iraq eases financial restrictions on Kurdistan region

Iraqi Parliament in session on 27 September 2017 [Murtadha Sudani/Anadolu Agency]
Iraqi Parliament in session on 27 September 2017 [Murtadha Sudani/Anadolu Agency]

Iraq's central bank yesterday eased financial restrictions imposed on the Kurdistan region, after receiving a cooperation pledge from Kurdish banks, an Iraqi banking source said.

Dollar and foreign currency transfers were allowed to continue yesterday, with the exception of four Kurdish-owned banks, the source told Reuters.

The central bank had informed the Kurdistan Regional Government (KRG) on Tuesday it would stop selling dollars to the four Kurdish banks, and halt all foreign currency transfers to the autonomous region, banking and government sources said.

The measures were taken in retaliation for a referendum held on 25 September in which the region voted overwhelmingly for independence.

Read: Why does Israel support the establishment of a Kurdish state?

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