The Minister of Commerce and Industry, Khalifa Al-Ajeel, issued a decision to ban cash transactions for the sale and purchase of cars, starting from the first of October.

This decision limited all sales or dealings in car trade to the use of banking channels and electronic payment methods only.

The Ministry of Commerce and Industry said in a press statement on Wednesday that this decision comes within the framework of its efforts to reduce suspicions of money laundering and financial crimes in the country. The cash circulation will effectively contribute in reducing financial crimes and closing loopholes related to money laundering in particular.