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Iranian Rial


VIZIOIRAQI
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  • 2 months later...

Hiya folks,

For those who are still keeping track on this Iranian Rial behind the scenes for a while would know things in the news for what we are looking for have been somewhat.....sloooooow....

Check out what I had stumbled upon while I was having my late night whiskey drink :cheesehead: : http://www.forbes.com/sites/dominicdudley/2016/06/05/iran-offshore-bank/#7409cdb973e2

JUN 5, 2016 @ 07:58 AM 3,003 VIEWSThe Little Black Book of Billionaire Secrets

Iran To Launch Offshore Bank To Process International Payments

 

Opinions expressed by Forbes Contributors are their own.

 
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A US 100-dollar bill next to Iranian rial banknotes, photographed in Tehran on January 18, 2012 (Photo: ATTA KENARE/AFP/Getty Images)

Iran is to launch an offshore bank on one of its Gulf islands “within a month”, according to a report by the official IRNA news agency, as it continues to seeks ways around restrictions on international payments.

The bank will be set up on Kish Island, which has been developed as a tourism destination and a free trade zone over the past few decades. The aim is to tap into rising demand for cross-border banking transactions, according to comments by Ali Jirofti, deputy head of the Kish Free Zone Organization. He told IRNA on June 5 that the new, unnamed offshore bank will be able to transfer money and facilitate domestic and foreign investment activities.

As yet there has been no confirmation from the Central Bank of Iran about a new institution being licensed, but Jirofti says it will be established in July. If that does indeed happen, it could play a useful role for a country which is still searching for ways to tap into the international financial system.

 

Iran’s banks have struggled under punitive sanctions in recent years and the banking system overall is weak and in urgent need of being recapitalized. Although sanctions have been lifted on many banks, they still struggle to find counter-parties willing to work with them. Most major international banks remain reluctant do business with Iran, for fear of contravening the remaining US sanctions on the country, including a bar on using dollars when dealing with Iran.

Perhaps coincidentally, a recent news report suggested that the US government is considering altering its rules to allow Iran to transact in dollars using offshore financial institutions.

 

Despite the lingering problems, the Iranian economy has been showing signs of improvement of late, partly because of the lifting of sanctions and partly because of more sensible economic policies being pursued by the government of President Hassan Rouhani. Oil production is returning to pre-sanctions levels, inflation has fallen to below 10% and the gap between the official and market exchange rates is narrowing.

And the country is attracting large amounts of foreign direct investment. A recent report by FDI Markets showed that there were 22 FDI projects worth a total of $3.5bn in the first quarter of this year, the highest level of investment in a single quarter since it began tracking the Iranian market in 2003.

Iran has been the third largest recipient of foreign investment in the region so far this year, behind the UAE and Saudi Arabia. The main sources of that investment into Iran were South Korea and Germany, which together accounted for $2.2bn of the total.

________________________________________

Something may give just right after the Ramadan holidays?  Who knows :shrug:

Hope you guys are still hanging in there!

Best regards,

Freedomwish :cheesehead:

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3 hours ago, blueskyline said:

Thank You Freedomwish . Still with you ! Keep posting !

Thanks buddy, whiskey and faith keeps me going!! LOL! :lol::cheesehead::praying:

1 hour ago, VIZIOIRAQI said:

FreedomWish

Thank You for keeping us up on current Iranian news it's much appreciated my friend!

:rolleyes:

Your welcome and thank you Viz, here's to hoping that something great comes out of this indeed!! :cheesehead::praying:

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Kish (Persian: کیش‎‎  listen ) is a 91.5-square-kilometre (35.3 sq mi) resort island in thePersian Gulf. It is part of the Hormozgān Province of Iran. Due to its free trade zonestatus it is touted as a consumer's paradise, with numerous malls, shopping centres, tourist attractions, and resort hotels.[1] It has an estimated population of 26,000 residents and about 1 million people visit the island annually.[2][3]

Kish Island was ranked among the world’s 10 most beautiful islands by The New York Timesin 2010, and is the fourth most visited vacation destination in Southwest Asia afterDubai, United Arab Emirates, and Sharm el-Sheikh.[4][clarification needed] Foreign nationals wishing to enter Kish Free Zone from legal ports are not required to obtain visas prior to travel. Valid travel permits are stamped for 14 days by airport and Kish port police officials.

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3 hours ago, gregp said:

Kish (Persian: کیش‎‎  listen ) is a 91.5-square-kilometre (35.3 sq mi) resort island in thePersian Gulf. It is part of the Hormozgān Province of Iran. Due to its free trade zonestatus it is touted as a consumer's paradise, with numerous malls, shopping centres, tourist attractions, and resort hotels.[1] It has an estimated population of 26,000 residents and about 1 million people visit the island annually.[2][3]

Kish Island was ranked among the world’s 10 most beautiful islands by The New York Timesin 2010, and is the fourth most visited vacation destination in Southwest Asia afterDubai, United Arab Emirates, and Sharm el-Sheikh.[4][clarification needed] Foreign nationals wishing to enter Kish Free Zone from legal ports are not required to obtain visas prior to travel. Valid travel permits are stamped for 14 days by airport and Kish port police officials.

Holy cow! :blink:

I had no idea about this hidden paradise! You can guess and possibly bet where we can probably go to make our exchanges, should things on the Central Bank of Iran's end goes according to plan! WOW! :blink:

And I haven't had my next shot of whiskey yet from reading this! Keeping the faith!! :praying:

Thanks Gregp! :cheesehead:

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:rodeo:i'm thinking about getting my passport. I can't believe this hasn't become the cash-in paradise. Although it say's no passport needed if coming from a secure port. Not sure about all that. This island was made for currency exchange. It's funny how this seemingly slipped through the cracks, with all of Obummers crack down on international banks. Sounds like a politicians cash-in secret paradise. 

I can't get rid of the cigar icons. They must really like to smoke! :lmao: Opened up the reply box and they were already puffing the magic wand!

:cigar::cigar::cigar::cigar::cigar:

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12 hours ago, gregp said:

:rodeo:i'm thinking about getting my passport. I can't believe this hasn't become the cash-in paradise. Although it say's no passport needed if coming from a secure port. Not sure about all that. This island was made for currency exchange. It's funny how this seemingly slipped through the cracks, with all of Obummers crack down on international banks. Sounds like a politicians cash-in secret paradise. 

I can't get rid of the cigar icons. They must really like to smoke! :lmao: Opened up the reply box and they were already puffing the magic wand!

:cigar::cigar::cigar::cigar::cigar:

Dude, you definitely would need to have a passport handy and soon!!  I'm gonna' do some more homework (sober lol) on traveling all about on this island both from a tourist and financial planning/investing perspective, you never know!!  This has to be one on the hush-hush no one knew about and now because of how things are heating up in the currency news, it'll come to light!!

Don't worry about the cigar icons - I'm an avid cigar smoker myself along with my whiskey drinking so it's all good to me!!:cheesehead::cigar:

Hope we get to hear some more awesome news soon!!  Keeping the faith!!:praying:

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  • 1 month later...
10 hours ago, pokerplayer said:

Is it legal now to purchase the rial ? From what I'm reading it seems to be ? Does anyone have a reputable dealer they can steer me towards ?

 

   pp

Good morning PP!  This thread is a real contentious issue for me... and many others.  So, please do not take this personally, my Canadian friend!  Are you sure you want to support a Terrorist State... legally or not?  Just continuing to bring it to everyone's attention... maybe read some of my prior responses in this thread.  With all due respect... Jax

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1 minute ago, pokerplayer said:

No worries my friend. I am looking hard at both sides of the coin on this one. Appreciate your comments. Enough so that +1 is in order.

 

   Cheers, +1

:tiphat:Plusing you back!

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4 minutes ago, screwball said:

As for this being a real contentious issue, are they really supporters of terrorism, think about this we were lied too about iraqs weapons of mass destruction, this came out in British parliament when Cameron and Blair both said they had been lied too! So the war was about the usd and oil! Now that's terrorism! Lives lost for oil and bankers! So for me this is a no brainer! And if you want to talk about supporters of terrorism, look at Hillarious and her arms deals with Syria and al Qaeda! Witch!

I guess you're addressing my post, screwball?  Regardless of how you, or anyone feels they can rationalize any participation in a Terrorist State's finances... it's still an active choice.  So... assuming your terrorism examples are valid... you're justifying your own participation because "others" have done so?  That's scary.  Knowing that even just $1 of yours went to support ANY terrorist organization or State should be abhorrent.  You're right... no-brainer.  It's greed, at the possible expense of American lives... perhaps even someone you might know.  Sleep well.

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13 hours ago, Jaxinjersey said:

I guess you're addressing my post, screwball?  Regardless of how you, or anyone feels they can rationalize any participation in a Terrorist State's finances... it's still an active choice.  So... assuming your terrorism examples are valid... you're justifying your own participation because "others" have done so?  That's scary.  Knowing that even just $1 of yours went to support ANY terrorist organization or State should be abhorrent.  You're right... no-brainer.  It's greed, at the possible expense of American lives... perhaps even someone you might know.  Sleep well.

Investing in any currency in the Middle east can put you into this category your speaking of especially Iraq . Iran runs the Iraqi government ! Iraq is also the creation if ISIS it's where it all began and will continue even though Syria will be the main hub!

 

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3 hours ago, VIZIOIRAQI said:

Investing in any currency in the Middle east can put you into this category your speaking of especially Iraq . Iran runs the Iraqi government ! Iraq is also the creation if ISIS it's where it all began and will continue even though Syria will be the main hub!

 

I have to respectfully disagree Viz... again, this can't simply be rationalized as, "well, who really knows where my (invested) money will end up..." It's about choice when KNOWING who/what you're dealing with.  That would be the same as saying any USA investment/finances can be ruled "suspect", as our government uses our tax dollars on nefarious enterprises.  But, we have no choice/control over that, other than in affecting our own political processes.   Iraq is not a terrorist state... and our dinar speculation is based on a NEW country, struggling to be free and democratic, as best it can.  Iran is an identified, labeled, known Terrorist State overtly sponsoring proxy terrorism, as well as politically and publicly declaring such.    We do have control over our choices to participate in KNOWN nefarious/criminal/terroristic activities.  THAT's the difference... and it's a huge clear difference to be intellectually honest about... and not rationalize it into a greedy, hands-off, head-in-the-sand, distanced decision.  How would any such "investor" feel if they found out/knew their dollars cost the life of another American?  And the fact that you probably never will know... should be enough cause for not doing so.  I'm very discontent with the apathetic perspective  toward this... it's shameful.

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