Kurdistan Region Announces Debt Forgiveness for Merchants and Companies

ERBIL, Iraq — The Kurdistan Region Union of Chambers of Commerce and Industry announced a full waiver of outstanding debts owed by merchants and companies to local chambers of commerce. Union President Gilan Haji Said stated that the decision was made in response to recent economic conditions and their impact on commercial activity. The debt relief program applies to all commercial sectors. Businesses must register for the exemption with their respective chambers of commerce by November to qualify. There are currently more than 120,000 merchants and companies registered with the union. Officials noted that members who fail to renew their chamber registration within the designated period will lose their membership and be required to pay all previously waived debts to regain status. Separately, Said addressed ongoing challenges within the customs management system. He noted that this issue remains a primary topic of discussion in current negotiations between Erbil and Baghdad.