You've probably seen this symbol a lot throughout the past couple of years on jewelry and what not. However, a lot of middle eastern homes will have this symbol up in their homes as a sign of protection. This symbol will be put on anything that would potentially attract greed, harm or envy. Many cultures believe that eyes can be extremely powerful even when you don't realize it. Some may even suggest that if you focus on something long enough with a bad intent/heart it could actually cause harm to it. That is why the evil eye is placed on new homes, cars, babies, and even adults to protect them from the evil eye.
The Kurdish writing in the middle says "ASHTI" which means PEACE.