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Majlis Tightens Controls on Forex Smuggling

Majlis Tightens Controls on Forex Smuggling Majlis Tightens Controls on Forex Smuggling

Lawmakers on Sunday voted in favor of modifying laws related to currency and goods smuggling, increasing fines and penalties for those who smuggle foreign currency to and from Iran. 
They set a fine of one to two times the value of the smuggled amount in rials for those who smuggle forex into the country. The fine is four times the amount for those who take out hard currency from the country illegally, IRNA reported.  
As per the law, bringing in and taking out foreign currency by mailing and shipping above €10,000 or its equivalent in other currencies is banned.

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