The State Council Decision also provides that Iraqi banks owned by foreigners are allowed to acquire real estate on the basis of Paragraph 2 of Article 33 of the Banks Law Number 94 of 2004 which allows the acquisition of property when required in the context of undertaking their operations, including for staff and …

Real estate prices in Baghdad have skyrocketed. A two-bedroom apartment in a safe area currently costs around $400 per month. A small house in a lower-middle-class neighborhood is out of reach at $150,000.

It is illegal in the U.S. and most other major economies to market an investment without appropriate securities registration. The scammers get around this requirement in two ways. First, it is technically legal to sell hard currency for its numismatic value.

Iraqi dinar

Iraq devalued its currency by the most on record as the cash-strapped government faces an economic crisis brought about by low oil prices and crude-production cuts. The official rate was cut from about 1,190 previously, the first devaluation since 2003. “What has been done is a preemptive step,” he said.

The value of Kuwaiti Dinar — first issued in 1961, is 3.30 dollars. It is considered the most valuable currency due to its stable value, as it’s not subjected to supply and demand. Kuwait ended the link between its Dinar and the US dollar since 2007 and connected the currency with the value of a package of currencies.

The Iraqi dinar — a currency so hyper-inflated as to be virtually worthless in the real world — is gaining fresh value among collectors. In the three weeks since the start of war in Iraq, sellers of bank notes have seen a surge in demand from collectors for currency containing images of Saddam Hussein.