Business And Markets

Forex Smuggling Rules Tightened

Holding or transporting forex by individuals beyond the set limits is tantamount to contraband unless they present a receipt showing the currency was bought from an authorized exchange bureau
Forex Smuggling Rules Tightened
Forex Smuggling Rules Tightened

The Majlis has passed amendments to rules that government uses to curb forex smuggling, further restricting conditions for trading and holding foreign currencies.
The new legislation is an amendment to the so-called Combating Goods and Foreign Currency Smuggling Law, IRNA reported. 
In the new rules, currency trade is illegal unless one of the parties is a bank/credit institution or an exchange bureau with a valid license.  


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