New Law is Ready for Approval, Good News for Iraqi Dinar Investors?

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On Monday, the Iraqi Parliamentary Legal Committee has confirmed that legal discussion regarding general amnesty of the Federal Court has been completed and it will be forwarded to Iraqi Parliament for approval.

A member of the Parliamentary Legal Committee issued a press statement that Iraqi Parliamentary Legal Committee arranged a special session to discuss the general amnesty law of the Federal Court and we have completed discussion for all the concerning issues and aspects. He also pointed out that the legal committee finalized all the issues on two laws. We have suggested a number of opinions and now it is up to the heads of political blocs and the House of Representatives to finish this process and approve it.

Most of the economic, financial and legal experts indicated that implementation of this law would empower the Iraqi economy. It is a positive sign to stabilize Iraqi economy, which would boost up the Iraqi dinar exchange rate against most of the major foreign currencies, especially against the U.S dollar. Some speculators have predicted that currency investors should focus to Buy Iraqi Dinar to secure their future investment. These rumors also indicated that it would provide a handsome support for Iraqi Dinar Revaluation process. So, don’t Sell Iraqi Dinar because it would give you a remarkable profit in a very short amount of time. The member of Iraqi Parliamentary Legal Committee said that law has been forwarded to the Presidency of Iraqi parliament for further process.

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