Over a billion dinars in exchange rate difference.. Kurdistan pilgrims receive $2,000 at subsidized rate
The General Authority for Hajj and Umrah in the Kurdistan Region announced on Wednesday the start of disbursing $2,000 to each pilgrim at an exchange rate of 132,000 Iraqi dinars per $100, through visiting Cihan Bank branches.
The authority explained, in a statement received by Shafaq News Agency, that this amount in dollars was transferred by the Federal Central Bank to Cihan Bank and will be exchanged at the official approved rate, with each pilgrim being given 20 $100 bills.
She explained that this mechanism allows each pilgrim to benefit from a difference of more than 200,000 dinars compared to the market price. She noted that the number of pilgrims this year reached 5,136, meaning that the total benefit would exceed one billion Iraqi dinars if all of them exchanged this amount.
The authority confirmed that Cihan Bank has been provided with all necessary information. Each pilgrim is required to visit the bank in person with their passport and Hajj visa, as no one else is permitted to receive the amount on their behalf.
She noted that Cihan Bank branches in Erbil and Sulaymaniyah will provide the service, while pilgrims from Dohuk Governorate must visit the bank’s branches in Erbil for this purpose.
The Authority concluded its statement by noting that the review will be available during three periods daily: morning from 9 am to 12 pm, evening from 3 pm to 5 pm, and night from 7 pm to 10:30 pm.
Shafaq.com