CoI recovers millions of dollars in Switzerland, 23 OCT

Shafaq News / On Saturday, the head of the Federal Integrity Commission (CoI) announced the recovery of over 70 million dollars from a Swiss bank, and affirmed the recovery of billions of Iraqi dinars from individuals, including former Prime Minister Mustafa Al-Kadhimi's advisor, local officials, and a former intelligence agency officer.

Haider Hanoun stated that CoI has achieved significant milestones and laid the groundwork for combating corruption. CoI has addressed many gaps that were exploited by corrupt individuals. This was accomplished through collaboration with the executive authority, especially the government led by Prime Minister Mohammed Shia Al Sudani, who has placed a new focus on the fight against corruption in Iraq.

Hanoun explained that Law No. 9 of 2012 on the Recovery of Iraqi Funds aims to recover Iraq's financial rights acquired by Iraqis and foreigners through unlawful means as a result of the misuse of the Oil-for-Food program and the use of sanctions on Iraq to achieve financial gains at the expense of the Iraqi people.

This law applies to funds acquired by Iraq before 2003. There are many funds that were stolen and the former regime used Iraqi, Arab, and foreign companies to create funds and give money to Arabs and foreigners to establish companies that served the previous regime. The law has several advantages and exempts those who cooperate with the fund.

Hanoun explained that the Iraqi Money Recovery Fund managed to recover a sum of $70,610,000 from a Swiss bank. An earlier $800 million had been recovered from the same person who has since passed away. This money had been imported from the Central Bank (CBI). The funds have been transferred to the Ministry of Finance.

Moreover, $26 million was recovered, which had been hidden in the Rashid Bank. These funds belonged to the Huda Religious Tourism Company, which was established in 2000. It previously managed Iranian visitors and was linked to the former intelligence agency. The company was dissolved in 2004, but the bank did not return the money to the Tourism Authority. The funds were hidden, and they have been recovered and will be transferred to the Ministry of Finance.

CoI also managed to recover six billion Iraqi dinars from the United Investment Bank, part of the 15 billion dinars misappropriated by the bank. This resulted from corruption in the Iraq Export Support Fund, which was affiliated with the Ministry of Trade.

Hanoun noted that an additional five billion Iraqi dinars were recovered from Haytham Al-Jubouri, the financial advisor to former Prime Minister Mustafa Al-Kadhimi. Al-Jubouri, who is currently imprisoned, is accused of having received a total of nine billion dinars. All the recovered amounts will be transferred to the state treasury.

Finally, Hanoun reported the recovery of 1.5 billion Iraqi dinars from the defendant Raed Jaber Imran, the former Director-General of the Middle Oil Refineries. This is a recent recovery and represents a portion of the total misappropriation of seven billion dinars that is currently in the possession of the state treasury.

https://shafaq.com/en/Iraq-News/CoI-recovers-millions-of-dollars-in-Switzerland

Iraq’s Financial Revolution: A Journey Towards Digitalization and Growth, 22 OCT

 Iraq’s Financial Revolution: A Journey Towards Digitalization and Growth, 22 OCT

In the heart of the Middle East, far removed from the clamor of the foreign media, a quiet revolution is stirring. Iraq, a nation often portrayed as a turbulent hotbed of conflict, is now spearheading a transformative shift in its financial sector, seeking to usher in an era of digitalization and economic growth. This narrative isn’t forged in the crucible of sensational headlines, but it’s a story worth telling, for it signifies Iraq’s relentless drive towards stability and prosperity.

Steering the Winds of Change

The Prime Minister of Iraq, Muhammad Shaaa Al-Sudani, recently led a crucial meeting focusing on the unified treasury account and the electronic payment system – two pillars that could potentially redefine the nation’s financial landscape. Al-Sudani emphasized the pressing need to activate the work and responsibilities of the Payments Council at the Central Bank. This is more than a bureaucratic directive; it’s an urgent call to modernize Iraq’s banking sector, a critical step towards a broader economic transformation.

The Prime Minister also insisted on receiving a final report on the progress made, reflecting a demand for accountability and transparency. His directive to all ministries to implement the fourth paragraph of the Cabinet Resolution (3581 of 2023), and to accelerate the formation of committees, underscores the urgency of the task at hand.

(Read Also:  Pentagon Bolsters Missile Defenses in Middle East Amid Rising Iranian Threat)

Al-Sudani’s call for an analysis of the non-moving bank accounts for each ministry within a month is a testament to the government’s resolve to tackle financial stagnation and inject momentum into the economy. It forms part of the larger effort to make the financial system more responsive and agile, aligning it with the changing dynamics of the global economic order.

Building a Digital Economy

At the first banking conference of the Central Bank of Iraq held in Erbil, the shift towards a digital economy was front and center. The conference, graced by the Prime Minister of the Kurdistan Regional Government, Masrour Barzani, the Second Deputy Speaker of the House of Representatives, Shakhwan Abdullah, and various political, economic, and business figures, showcased Iraq’s commitment to banking sector growth and international collaboration.

The Governor of the Central Bank, Ali Al Alaq, highlighted the risks associated with a cash-based economy, such as financial crimes and illicit practices. He painted a vision of a digital economy, where technology serves as a catalyst for growth and transparency. Al Alaq emphasized the importance of maintaining the stability of the exchange rate and prioritizing the infrastructure of financial systems and business rules.

(Read Also:  In the Face of Conflict: Israel Warns of Military Offensive Against Iran)

The Governor also underscored the importance of compliance with anti-money laundering and terrorism financing laws, demonstrating Iraq’s commitment to international norms and standards. These efforts aim to ensure the transparency and safety of financial operations and make Iraq a more attractive destination for international investments.

Moving Towards a Sustainable Future

The developments in Iraq’s banking sector are not isolated events but part of a larger narrative of progress and modernization. The country is taking significant strides towards building a stable, safe, and effective financial system, which is vital for attracting investment, promoting economic growth, and improving the overall quality of life for its citizens.

From the Prime Minister’s directives to the Central Bank’s initiatives, Iraq’s commitment to transforming its financial infrastructure is clear. Amid the challenges and complexities, the nation is charting a course towards a future defined not by conflict and crises, but by stability, growth, and digital empowerment. This is the untold story of Iraq – a story of resilience, ambition, and an unwavering resolve to secure a prosperous future for its people.

https://bnn.network/finance-nav/iraqs-financial-revolution-a-journey-towards-digitalization-and-growth/

Can Dinar Support Up to $16?💣Iraq's Goal 1 to 1!🤔Iraq Dinar RV Updates |...

Interior Ministry: 17,900 pledges not to deal in dollars in Iraq, 22 OCT

 Interior Ministry: 17,900 pledges not to deal in dollars in Iraq, 22 OCT

The number of written pledges that the Ministry of Interior took from shop owners not to deal in dollars during buying and selling amounted to 17,900 pledges from last May until this October.

This was reported by the Director of Operations at the Organized Crime Directorate, Brigadier General Hussein Al-Tamimi, to Al-Sabah, noting that the campaigns launched under the direction of the Ministry since last May to support the Iraqi dinar resulted in the arrest of a number of foreign currency speculators and smugglers.

He explained that the Ministry has taken written pledges obligating the owners of car showrooms, electrical materials stores, tourism and travel companies, wholesalers, and key cards, as well as the owners of residential complexes, not to deal (in dollars) during buying and selling

And to deal exclusively in the Iraqi dinar according to the price specified by the Central Bank / otherwise The violator is subject to legal accountability in accordance with Article 306 of the Iraqi Penal Code No. 111 of 1969, which stipulates imprisonment and the imposition of a fine on anyone who refuses to deal in the Iraqi dinar, indicating at the same time that the Central Bank and the Council of Ministers have permitted merchants importing basic and necessary materials from outside the country to enter. To the electronic platform and deal in dollars through it only.   link

Iraqi Dinar's Potential Surge | Iraq's Currency Shake-Up | Transition an...

US Issues Travel Warning for Iraq Due to Attacks on US Personnel, 22 OCT

 US Issues Travel Warning for Iraq Due to Attacks on US Personnel, 22 OCT

An Advisory Amidst Rising Conflict

In the recent light of events, the U.S. State Department has issued an advisory cautioning U.S. citizens to refrain from traveling to Iraq. The advisory is a call for precaution amidst growing incidents of violence in the region, primarily encompassing threats of terrorism, kidnapping, armed conflicts and civil unrest. The advisory states, “Do not travel to Iraq due to terrorism, kidnapping, armed conflict, civil unrest, and Mission Iraq’s limited capacity to provide support to U.S. citizens.”

Indeed, the past few months have seen a surge in hostile activities against U.S. forces stationed in Iraq and Syria. The escalation in conflicts arrived in tandem with the surfacing strife between Israel and the Hamas militants in Gaza. Recent highlights include an incident where a U.S war vessel intercepted over a dozen drones and several cruise missiles fired by Iranian-backed Houthi militias from Yemen.

Alert for Personnel and State Activities

Furthermore, the advisory has reinforced the plea for U.S government affiliates like non-emergency personnel and eligible family members based in the U.S embassy in Baghdad and the U.S consulate General Erbil to depart the premises. This action is grounded in the context of proliferating security threats against U.S. personnel and interests.

The war and its associated tensions, primarily between Israel and the Palestinian Islamist faction Hamas, have caused regional tensions to skyrocket. The war induced by Hamas’ violent actions against Israel has resulted in devastating consequences, including the loss of over 1,400 lives. In retaliation, Israel has launched numerous lethal airstrikes on Gaza, bringing the death toll to over 4,700, as per Palestinian official reports.

Emerging security challenges are an essential factor for the State Department’s advisory, as U.S. government personnel stationed in Baghdad are strictly advised against using Baghdad International Airport. The reason lies in the scope of threat that the region currently represents.

US Military Reinforcements

Given growing security concerns, the United States has escalated its naval power dispatched to the Middle East. Recent reinforcements include two aircraft carriers, their ancillary support ships as well as approximately 2,000 Marines. In addition to the naval force, a Terminal High Altitude Area Defense (THAAD) system, along with supplementary patriot air defense missile system battalions, is slated to be deployed to the Middle East, as confirmed by the Pentagon.

https://bnn.network/world/us/us-issues-travel-warning-for-iraq-due-to-attacks-on-us-personnel/

Iraqi Prime Minister and French President Unite in Urgent Call for Ceasefire and Humanitarian Aid for Gaza, 22 OCT

 Iraqi Prime Minister and French President Unite in Urgent Call for Ceasefire and Humanitarian Aid for Gaza

In a crucial diplomatic development, Iraqi Prime Minister Mohammed Shia Al-Sudani and French President Emmanuel Macron have jointly called for an immediate ceasefire in the ongoing crisis in Gaza. This heartfelt plea underscores the urgent need for humanitarian aid delivery to the besieged residents of Gaza and concerted international action to prevent further escalation.

Urgent Plea for Peace

Iraqi Prime Minister Al-Sudani and French President Macron joined forces to emphasize the pressing need for a swift ceasefire to end the violence in Gaza. They are deeply concerned about the grave incidents unfolding due to continued assaults on civilians in the Gaza Strip.

(Read Also: Teachers and Retirees in Iraqi Kurdistan Demand Salary Disbursements and Job Security )

Addressing Ongoing Crisis

Both leaders stressed the profound roots of the Gaza crisis, extending back decades of non-compliance with international laws by Zionist occupation authorities. They underlined that the unjust imprisonment of an entire population has led to a pervasive sense of oppression and injustice, not only in Palestine but beyond.

(Read Also: Israel deepening attacks on Gaza to prepare for ‘next stages of the war’, says military)

Preventing Escalation and Humanitarian Suffering

President Macron and Prime Minister Al-Sudani underscored the necessity of serious actions to prevent the conflict from spreading and to protect civilians from further consequences of escalation. They agreed on the vital importance of securing an immediate ceasefire, opening humanitarian corridors for aid delivery to Gaza, and ending the humanitarian suffering in the region.

https://bnn.network/politics/iraqi-prime-minister-and-french-president-unite-in-urgent-call-for-ceasefire-and-humanitarian-aid-for-gaza/

"RV UPDATE" BY SANDY INGRAM, 22 OCT

 Sandy Ingram 

 Article: "Iraq to end all dollar cash withdrawals by Jan. 1 2024 - Central Bank official". 

  Iraq is back on track...starting January 1, 2024.  The Central Bank of Iraq will only do banking with Iraqi citizens using the Iraqi dinar...

IQD investors outside of Iraq may have difficulty exchanging the currency.   Why? 

 Because we will not have access to IQD banking. 2.  The IQD may not be available on the Forex market thus not exchangeable by US banks...

In other words it is not beyond the US Federal Bank to help Iraq come up with a plan that could exclude individuals with Iraqi dinar but include different countries around the world...If we do not address this issue there is a real possibility we may have difficulty exchanging the IQD for the USD.

  [Note:  Be sure you're on the Dinar Guru Alert list to stay informed about possible exchange procedure updates.  Blue box at top of this page...it's free.]

SECURITY ALERT EMBASSY IRAQ – OCT-22-2023, 22 oct

 SECURITY ALERT EMBASSY IRAQ – OCT-22-2023

By U.S. Embassy In Baghdad  October 22, 2023  The Department of State has updated the Travel Advisory for Iraq to reflect the ordered departure of non-emergency U.S. government personnel and eligible family members from U.S. Embassy Baghdad and U.S. Consulate General Erbil. Full text of Travel Advisory here .  Additionally, please read the most recent Security Alert from October 18, 2023 below:

Demonstration Alert: U.S. Embassy Baghdad, Iraq (October 20, 2023)

Location: Baghdad, Iraq   Event:  U.S. Mission Iraq is monitoring calls for demonstrations throughout the country, including a large demonstration with potential for anti-U.S. sentiment in Baghdad on Friday, October 20 around the 14th of July Bridge.

The U.S. Mission continues to advise U.S. citizens to monitor local media for updates and to avoid protests and large gatherings. U.S. citizens should be aware of the potential for demonstrations and protests related to the ongoing events in Gaza to spread rapidly throughout Iraq. Such demonstrations can develop quickly without prior notice, often interrupting traffic, transportation, and other services, and sometimes turning violent.

The State Department’s Travel Advisory for Iraq remains at Level 4: Do Not Travel due to terrorism, kidnapping, armed conflict, civil unrest, and Mission Iraq’s limited capacity to provide support to U.S. citizens. For more information, please visit the Iraq Country Information page on travel.state.gov . Please also review what the U.S. government can and cannot do to assist you in a crisis overseas .

Actions to Take:

– Avoid the area of the demonstrations and large gatherings.

– Exercise caution if unexpectedly in the vicinity of large gatherings or protests.

– Keep a low profile.

– Monitor local media for updates.

https://iq.usembassy.gov/security-alert-embassy-iraq-oct-22-2023/

Iraqi PM chairs meeting to discuss treasury account and electronic payment system, 22 OCT

 Iraqi PM chairs meeting to discuss treasury account and electronic payment system, 22 OCT

Shafaq News / Today, Iraqi Prime Minister Mohammed Shia Al Sudani chaired a meeting dedicated to discussing the completion of the unified treasury account and the progress of the electronic payment system. The meeting also addressed challenges facing public and private sector institutions and electronic payment companies. The participants reviewed the facilities and incentives that can be provided to citizens and user entities to encourage electronic payments.

During the meeting, the officials examined the progress and necessary requirements to achieve the objectives. Prime Minister Al Sudani emphasized the need to prioritize encouraging the public sector and identifying any underperforming or lagging entities. They also approved a report containing recommendations to be presented to the Cabinet.

Furthermore, Al Sudani directed the activation of the Central Bank's (CBI) Payments Council and the importance of submitting a final report on the achievements for presentation at the Cabinet meeting. Concerning the completion of the unified treasury account, he stressed the need for all ministries to implement the fourth paragraph of Cabinet Resolution No. 3581 for the year 2023. This includes the swift formation of committees and the analysis of the stagnant bank accounts for each ministry within one month.

The meeting aimed to enhance the use of electronic payment methods in Iraq, streamline financial processes, and improve accountability in public financial management.

https://shafaq.com/en/Iraq-News/Iraqi-PM-chairs-meeting-to-discuss-treasury-account-and-electronic-payment-system

Iraqi Dinar✅Finally CBI Significant Exchange Rate Stability / Iraqi Dina...

International and international pressure to pass the oil and gas law, 22 OCT

   International and international pressure to pass the oil and gas law

{Politics: Euphrates News} KDP leader, Wafaa Mohammed Karim, revealed international and international pressure to pass the oil and gas law.

“The issue of passing the oil and gas law cannot be overcome if there is no political agreement on the draft law,” Karim told {forat News}.

"At the moment there are political parties that are not served by the passage of the law, but there is international and international pressure on the government to pass the law," he added.

Karim explained, the reason for this to "Iraq's position as the second oil-producing country in OPEC by exporting 4 million and 250 thousand barrels and does not yet have an oil export law."

It is noteworthy that since the first session of the House of Representatives, in 2005, the oil and gas bill has remained locked in drawers, as disagreements prevent its final approval.

After 18 years, he announced, in late August, the formation of a committee to draft an “oil and gas law and present it to the government and the House of Representatives.”

The committee formed between Baghdad and Kurdistan to draft an oil and gas law includes "the Minister of Oil, the Minister of Natural Resources in the region, the Director General of Sumo Company and the advanced staff in the Ministry of Oil, as well as the oil-producing provinces such as Basra, Dhi Qar, Misan and Kirkuk."

The Prime Minister, Mohammed Shia Al-Sudani, said at the beginning of last August that "the draft oil and gas law is one of the basic and important laws, represents a factor of strength and unity for Iraq, and it has been stuck for years, at a time that the country today is in dire need of its legislation and benefit from this natural wealth, in all fields and sectors, as well as the contribution of the legislation of the law to solving many outstanding problems."

The Prime Minister's financial adviser, Mazer Mohammed Saleh, confirmed in a press statement that accelerating the approval of the federal oil and gas project law in the House of Representatives as soon as possible will establish a stable national road map for investment and production for the country's main sovereign resource, which is oil and gas.

Iraq exports an average of 3.3 million barrels of crude oil per day, and black gold accounts for more than 90 percent of Iraq's treasury resources.

"RV UPDATE" BY MILITIAMAN, 22 OCT

 Militia Man  

 Article quote:   "The decision to collect fees in Iraqi dinars at border crossings is an important decision aimed at preserving the hard currency and also straightening the Iraqi dinar" 

 They have a goal of stop using the dollar and using the Iraqi dinar at the customs borders.  Everybody should be clicking their ruby slippers because that's going to be a lot money.  A lot of revenues are going to come through those borders.

  Quote:  "Any party that does not adhere to this decision will be subject to punishment."  They're getting strict.

  When people say there's not too much progress going on -  well some of these things take a long time to put together and most of them are coming into fruition as we speak. 

Iraqi-Saudi coordination council has played a major role with their bilateral relations.  Iraq is doing a good job.  If you've noticed in the news, Iraq is a mediator.  It's almost like the Switzerland of the Middle East.  Kudos to Al-Sudani...

They've increased the interest rate to encourage citizens to save their money. 

 They're going to be paying 7.5%... What's the main goal here?  I think what they're really trying to do is to get large amounts of money off the street...mattress money is what they call it.  They're still trying to get that money in...

"RV UPDATE" BY FRANK26, 22 OCT

 Frank26 

 Question "Many years ago Dr. Shabibi said the dinar would be able to support it up to $16.  Would that still be true for the RI?" 

 No, it's far past that but it would be illogical to come out at $16 or $28 or whatever.   You need that margin for the float. 

  You don't need it to show off.  That's what Kuwait did and they realized their mistake...The next day 

they brought it back down very quickly.

  It gave a window for sharks and whales...and they made massive amount of money.  Obviously it was done on purpose.   And obviously the IMF doesn't allow that to happen again.

[Iraq boots-on-the-ground report] 

 FIREFLY:  There's a restaurant coming into Iraq.  It's called Johnny Rockets. It's a burger join. 

FRANK:  I told you the whole world is pouring in...When you stop and think about it, those places that are coming into your country, they're either stupid or they know exactly what the monetary reform is about to do for them and you Iraqi citizens...

 The goal is to get to 1 to 1 for what reason?

  To add purchasing power. 

 There is the key, to add purchasing power to the currency of Iraq.  I didn't say the Iraqi citizens are going to get rich.  I said to add purchasing power to buy good and services with their currency...

The Iraqi Dinar Dream | Iraq's Pursuit of a 1-to-1 Exchange Rate | Dr.Shabibi

Iraqi PM warns of escalation in Israel-Palestine conflict with global energy implications, 22 OCT

Iraqi PM warns of escalation in Israel-Palestine conflict with global energy implications

Shafaq News / Iraqi Prime Minister Mohammed Shia Al Sudani issued a warning on Saturday regarding the potential for the ongoing conflict between Israel and Palestine to escalate to a point that threatens global energy markets. He also emphasized Iraq's firm rejection of any attempts to depopulate the Gaza Strip and called for the establishment of a fund to support and rebuild the region.

These remarks were delivered during the Cairo Peace Summit 2023, which was convened to address the evolving situation in the occupied Palestinian territories.

Prime Minister Al Sudani stated that the Palestinian people are experiencing a process of genocide, as civilians in residential areas, churches, and hospitals become targets. He pointed to the massacre at the Hospital in Gaza as revealing the true face of the Zionist occupation, surpassing all red lines.

He went on to assert that "what is happening constitutes a full-fledged war crime, beginning with the killing of the vulnerable and the imposition of a suffocating siege on the remaining neighborhoods." He affirmed that it is challenging to put into words the daily occurrence of horrific acts and massacres, including the burial of innocents under the rubble of their homes on the very land from which they were first displaced during the Nakba of 1948.

Prime Minister Al Sudani described Gaza as a new test for the global system, which has repeatedly failed to uphold the values of humanity, justice, and freedom. He stressed that Palestine stands as a living testament to this failure.

He further emphasized that "the time has come to put an end to this odious occupation and to alleviate the suffering of the Palestinian people." He affirmed that injustice cannot produce lasting peace, and the only way to achieve security and end violence is by addressing its root causes, beginning with the occupation and policies of racial discrimination.

The Iraqi Prime Minister pointed out that the Zionist entity continues to violate laws, including the laws of war. He highlighted that such violations will impact international security and potentially lead to regional conflicts, endangering global energy supplies, exacerbating global economic crises, and opening the door to deeper and wider conflicts.

He also noted that the Zionist entity persistently breaches the Third Geneva Convention on prisoners of war, the Fourth Geneva Convention that provides protection for civilians in occupied territories, the International Covenant on Civil and Political Rights, and more than 78 United Nations Security Council resolutions related to the Palestinian issue.

Prime Minister Al Sudani stressed that if international resolutions were respected and international bodies fulfilled their responsibilities, the Palestinian situation would not have reached its current tragic state.

Furthermore, he conveyed Iraq's strong rejection of any attempt to depopulate Gaza. He firmly stated, "There is no room to discuss resettlement or the creation of refugee camps. Palestinians have no place except their homeland."

He called for an immediate ceasefire, the opening of border crossings, the allowance of humanitarian aid and relief supplies, and the safe and comprehensive exchange of prisoners and detainees.

Moreover, he insisted on the urgent need to completely lift the blockade on Gaza to prevent a recurrence of the current tragedy. He called for the creation of a fund to support and rebuild the region, assuring that Iraq will not delay in providing any possible assistance.

Prime Minister Al Sudani concluded by emphasizing that the Palestinian issue should not be buried or bargained away. It is not within anyone's right to compromise, concede, or donate on behalf of the Palestinian people, as they are the rightful owners of the land and the cause.

He emphasized that international legitimacy, along with all free peoples, calls for a Palestinian state with its capital in Jerusalem, unmarred by settlements, and unburdened by checkpoints and policies of starvation.

He warned that continuing to disregard the legitimate rights of the Palestinian people will only yield more violence, extremism, and greater instability in the region and the world.

https://shafaq.com/en/Iraq-News/Iraqi-PM-warns-of-escalation-in-Israel-Palestine-conflict-with-global-energy-implications

To Support The Dinar... Nearly 18,000 Pledges Were Signed By Shop Owners Not To Deal In Dollars, 22 OCT

 To Support The Dinar... Nearly 18,000 Pledges Were Signed By Shop Owners Not To Deal In Dollars

2023-10-22 | 969 views  Al-Sumaria News – Local   The number of written pledges that the Ministry of Interior took from shop owners not to deal in dollars during buying and selling reached 17,900 pledges from last May until this October.

This was reported by the Director of Operations at the Organized Crime Directorate, Brigadier General Hussein Al-Tamimi , noting that the campaigns launched under the direction of the ministry since last May to support the Iraqi dinar resulted in the arrest of a number of foreign currency speculators and smugglers, according to the official Al-Sabah newspaper.

He explained that the Ministry has taken written pledges obligating the owners of car showrooms, electrical materials stores, tourism and travel companies, wholesale and key cards, as well as the owners of residential complexes, not to deal (in dollars) during buying and selling, and to deal exclusively in the Iraqi dinar according to the price specified by the Central Bank,

otherwise The violator is subject to legal accountability in accordance with Article 306 of the Iraqi Penal Code No. 111 of 1969, which stipulates imprisonment and the imposition of a fine on anyone who refuses to deal in the Iraqi dinar. He added that the Central Bank and the Council of Ministers  have authorized merchants importing basic and necessary materials from outside the country to enter the platform. Electronic and deal in dollars through it only.   LINK