The Iraqi Interior Ministry has issued a ban with stricter proceedings outlawing the use of the US dollar for both personal and business transactions.
Anyone who violates the ban, could face an imprisonment penalty of up to five years, the ministry said.
The fresh proceedings are part of a growing ‘de-dollarization’ trend and an overall decline in Washington’s economic influence.
Brigadier Hussein Tamimi, director of criminal operations at the Iraqi Interior Ministry, said they launched a campaign in coordination with the central bank to prevent the use of the US dollar for transactions and said that transactions must be in dinars only.
He said there has been a good response to the campaign in all Iraqi provinces except the Kurdistan Region, whose committees and units monitor markets, shopping centers and car showrooms.