In an effort to support the Iraqi dinar and discourage the use of the US dollar in buying and selling operations, the Ministry of Interior has collected over 17,900 signed pledges from shop owners. These written pledges indicate that the shop owners will not engage in any transactions using the US dollar.
The Director of Operations at the Ministry’s Organized Crime Directorate, Hussein Al-Tamimi, noted that a series of campaigns resulted in the arrest of foreign currency speculators and smugglers from May to October.
As per the new decision taken by the Ministry, the owners of car showrooms, electrical stores, tourism, travel, and wholesale companies in Iraq are required to sign written pledges to deal in Iraqi dinars as per the price set by the Central Bank. Failure to comply with this decision may lead to legal action as per the country’s laws.
Merchants importing basic and necessary materials are allowed to use dollars only through the electronic platform.
