TY - JOUR AU - Ahmad Mohammed, Shivan AU - Izdihar Hadi, Izdihar Hadi PY - 2021/05/23 Y2 - 2024/03/29 TI - Evaluate the Extent of Financial Literacy on cryptocurrency: An Exploratory Study of Managers and Owners Opinions from sample of companies and Forex offices in Kurdistan Region JF - Academic Journal of Nawroz University JA - ACAD J NAWROZ UNIV VL - 10 IS - 2 SE - Articles DO - 10.25007/ajnu.v10n2a1029 UR - https://journals.nawroz.edu.krd/index.php/ajnu/article/view/1029 SP - 113-136 AB - <p>The current study aims to identify cryptocurrencies, their types and characteristics and the extent of fiannciala literacy on cryptocurrencies by the traders in exchanging currencies in the Kurdistan region through an exploratory study of views of a sample of managers, company’s owners’ / Forex offices and currency exchange in the Kurdistan Region of Iraq for cryptocurrencies by designing a questionnaire form that included a number of essential phrases for study and all of them were answered. An initial survey was conducted (Pilot Test) for (30 companies / offices) currency exchange in the city of Duhok only in order to find out the suitability of the questionnaire form and its paragraphs to the study subject. Then the distribution was carried out on a more comprehensive sample that included (160) companies / offices, in three governorates (Duhok, Erbil and Sulaymaniyah). One of the most important conclusions reached by the study is that (83.1%) of individuals surveyed from the region does not have any financial knowledge about cryptocurrencies, its working mechanism, its types, how to use it and how to trade it. In other side, about (16.9%) of the respondents indicate that they have financial knowledge on cryptocurrencies. The results of the analysis revealed a (100%) that cryptocurrencies were not traded by companies and offices by the sample examined, whether it was a direct trading method or indirect trading. In light of these conclusions, the study suggests a number of recommendations, the most important of which are: recommending business organizations, especially companies specialzed in exchange currencies to follow up trading cryptocurrencies and to issue awareness leaflets continuously for their users to help them use them correctly, safely and away from risks in order to protect them from fraud and encourage the application of cryptocurrency trading to reduce the negative impacts facing the monetary policy and be an alternative to some currencies.</p> ER -