Why Kurdistan needs to issue independent Banknotes in their region?


Kurdish banknotes

On Monday, the development movement and political reform Secretary General, Muhammad Baziyani issued a press statement that administration of Kurdistan region is looking for the issuance of private provincial banknotes to overcome the financial problems.

He pointed out that Kurdish currency issuance would be a positive step in order to get independence financially. He further added in a press interview that the government of Kurdistan region needs to issue a version of Kurdistan’s unique paper currency to overcome their internal financial crisis. He also said that this new paper currency would ensure the payment of staff salaries in their region.

Baziyani further added in his interview that these banknotes will be used for the Kurdish internal financial transactions. This kind of experience took place by the former Iraqi President Saddam Hussein, when international community imposed economic and financial sanction and created blockade against Iraq, then Iraqi government used this mechanism to pay staff salaries to their staff and employees without any trouble. Baziyani also said that Iraqi government is considering that it might be a step towards establishment of a Kurdish state after getting financial independence. He added that it can be a reality in the future. It is important that Kurdish regional government is experiencing critical financial crisis since the government of Kurdistan region has been unable for the payment of salaries of employees and staff members.

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