screwball Posted November 5, 2017 Report Share Posted November 5, 2017 No doubt the bill will need to be voted on... Quote Link to comment Share on other sites More sharing options...
Michymateo2001 Posted November 5, 2017 Report Share Posted November 5, 2017 if its floated, its the same thing as dinar? we can still exchange correct? Quote Link to comment Share on other sites More sharing options...
Michymateo2001 Posted November 5, 2017 Report Share Posted November 5, 2017 if they increase it by 300 or whatever they say they are doing, what does a million turn into? Quote Link to comment Share on other sites More sharing options...
screwball Posted November 6, 2017 Report Share Posted November 6, 2017 A member of Majlis Planning and Budget Commission has announced that the parliamentary body will convene in the coming days to review practical and executive solutions for removing the greenback from Iran’s trade deals. Quote Link to comment Share on other sites More sharing options...
screwball Posted November 6, 2017 Report Share Posted November 6, 2017 4 hours ago, Michymateo2001 said: if its floated, its the same thing as dinar? we can still exchange correct? Dinar is listed with Citibank, you can get buy and sell rates. If you are us citizen transactions cant start or end in usd, so at this stage travelling will be required. Iran has agreements with bureaux de change, swift, and swift postal takes effect dec 23 so you should be able to exchnage it just not into usd... 😁 1 1 Quote Link to comment Share on other sites More sharing options...
Michymateo2001 Posted November 6, 2017 Report Share Posted November 6, 2017 Awesome!! Thank you!! So if they drop 3 zeros and I have 1 million what does that convert to? 1 Quote Link to comment Share on other sites More sharing options...
Michymateo2001 Posted November 6, 2017 Report Share Posted November 6, 2017 Isn't there restrictions to how much currency you can bring into the country? 10000? So how does this all work? 1 Quote Link to comment Share on other sites More sharing options...
pokerplayer Posted November 6, 2017 Report Share Posted November 6, 2017 1 hour ago, Michymateo2001 said: Isn't there restrictions to how much currency you can bring into the country? 10000? So how does this all work? I will try and answer your questions in a little more detail after work today. Not much time at the moment. pp 1 1 Quote Link to comment Share on other sites More sharing options...
Michymateo2001 Posted November 6, 2017 Report Share Posted November 6, 2017 Ok ty so much!! 1 1 Quote Link to comment Share on other sites More sharing options...
pokerplayer Posted November 7, 2017 Report Share Posted November 7, 2017 (edited) 10 hours ago, Michymateo2001 said: Awesome!! Thank you!! So if they drop 3 zeros and I have 1 million what does that convert to? 7 hours ago, Michymateo2001 said: Isn't there restrictions to how much currency you can bring into the country? 10000? So how does this all work? Ok to start off Mich with your first question, to simplify we will use 1 USD = 35,000 IRR. So remove 3 zeros will in turn make 1 IRR worth .35 cents. This in turn would make a Million IRR worth $350,000 USD. Naturally your taxes would need to be paid so you would not realistically realize this amount but you would at least be able to buy a calculator {{{ Wink }}}. That being said there is some articles posted by ScrewBall that elude to the removal of 4 zeros which would make 1 IRR worth considerably more but until they hit the big red button we need to just wait and see. Secondly most countries regulate that anything over $10,000 must be declared or risk forfeiture.When the time comes ensure that you know exactly what the requirements are for your country as well as the country your traveling to for exchange as I am not sure if the rules are all the same across the board for every country. Hope this helps even a little, pp Edited November 7, 2017 by pokerplayer 2 2 Quote Link to comment Share on other sites More sharing options...
screwball Posted November 7, 2017 Report Share Posted November 7, 2017 Requirement is to end mcp.... he Iranian Cabinet has notified the Law on Combating Financing of Terrorism for implementation 20 months after the measure received the parliamentary approval. The announcement would be a step forward for Iran, as it is determined to meet the demands made by the Financial Action Task Force– an international group that monitors money laundering worldwide–in order for its banks to become eligible for working with major global lenders. The international group on Friday updated its document on engagement with Iran and urged the country to fulfill its commitments by the deadline of Jan. 31, 2018. The executive directive signed by First Vice President Es’haq Jahangiri was published on Monday, but had been originally approved by the Cabinet a week earlier. According to the directive, “involved persons” i.e. all natural and legal entities, including non-governmental and charity organizations subject to the Law on Combating Financing of Terrorism, are obligated to identify their clients and register their information in their systems while refraining from offering services to those on sanctions lists. They are obligated to evaluate the risk status of their clientele, namely their background, occupation, income and asset source, original birthplace and current place of residence, services they wish to use and a variety of other criteria, and should refuse to offer them services if they are unable to screen them through reliable independent data sources. “In case of identifying risky individuals, the people in charge must make enhanced efforts based on guidelines provided by the High Council of Anti-Money Laundering,” the directive states, adding that if there is evidence of another beneficiary, they must move to fully identify that beneficiary. As required by the Cabinet-approved directive, the involved entities must exercise constant supervision over their services and the “suspicious operations and transactions” of their clientele. The level of oversight must be proportionate to the risk previously designated to the client. Further Guidelines The directive also calls for designing and establishing systems to detect financial or transactional operations or “any unreasonable or suspicious operational pattern” of their clientele vis-a-vis terrorism financing. While they are obligated to adequately deal with any suspicious clients, they must also update the clientele list if any changes are made to the sanctions list. With regard to safeguarding archives and information, the law requires the entities involved to “maintain records related to financial operations and transactions both local and international for at least five years” so they can report them to related parties on demand, if necessary. According to the directive, the aforementioned records must include sufficient information on funds and assets, as well as the kind of currencies used in each transaction so that legal prosecution for criminal activity would be possible by reconstructing the processes of all transactions. The entities involved are required by law to introduce an official unit in charge of combating money laundering and financing of terrorism to the Financial Intelligence Unit of the Ministry of Economic and Finance Affairs. They are also obligated to immediately contact judicial officials to block the funds and seize the resources and assets of any client on the sanctions list. The directive separately addresses correspondent banking relations, directing Iranian financial institutions to undertake all measures to prevent financing of terrorism when developing banking ties with other institutions. “Financial institutions are obligated to refrain from establishing correspondent ties with shell banks to prevent the risk of terrorism financing,” while “having correspondent ties with banks that work with shell banks is strictly prohibited”. With regard to non-government and charity organizations, the Cabinet directs the High Council of Anti-Money Laundering to undertake measures to prevent any violations by these organizations to finance terrorism. It also orders the entities involved to hold regular educational programs for their personnel, set detailed measures, especially for Iranian financial institutions, and devise further guidelines for the Financial Intelligence Unit. 1 1 Quote Link to comment Share on other sites More sharing options...
screwball Posted November 7, 2017 Report Share Posted November 7, 2017 ran and Switzerland have made significant improvements in their banking ties. This was announced by Iran’s Deputy Economy Minister Mohammad Khazaei after a meeting with Philippe Leuba, economy minister of Switzerland’s Vaud state, on Sunday. “The atmosphere seems to be suitable for Iran and Switzerland to develop banking relations, as the pathways to bilateral banking cooperation are opening,” Khazaei was also quoted as saying by the official news outlet of the Economy Ministry during a Swiss delegation visit to Tehran. He said the visiting Swiss delegation consists of high-ranking banking and economic officials. “The main topic of discussion during the meeting with Swiss delegation was expansion of cooperation, particularly in the fields of biotechnology, information technology, health-related technologies, agricultural know-how and transportation, as some of our negotiations are expected to reach implementation stage within a month,” he added. Khazaei noted that the representatives of the two countries also discussed banking solutions for financing Iranian projects. They also touched upon insurance coverage for these investment projects by European companies. Leuba said: “During our stay in Iran, we held productive meetings with Iranian companies to expand economic cooperation and we believe that a good opportunity for boosting bilateral economic ties is ahead of us.” This is while about a month ago, a commercial delegation from Tehran's Chamber of Commerce, Industries, Mines and Agriculture had travelled to Geneva, Switzerland, and met with the Central European nation’s parliamentary officials among others, who heralded a better future for Iranian-Swiss banking ties. Leuba noted that Swiss banks are cautious because of their trade links with US-based entities, but they are ready to strengthen relations with Iran and remove hurdles. Reyl Bank and BCP are among Swiss banks that have reportedly started working with Iran. Back in May, Bank Pasargad Iran announced that it was seeking to launch a branch or a subsidiary in Switzerland, as banking relations between the two countries have not fully normalized. The Swiss government estimates that exports to Iran, valued at more than $620 million last year, could double or even triple within a decade. 1 2 Quote Link to comment Share on other sites More sharing options...
screwball Posted November 7, 2017 Report Share Posted November 7, 2017 1 hour ago, pokerplayer said: Ok to start off Mich with your first question, to simplify we will use 1 USD = 35,000 IRR. So remove 3 zeros will in turn make 1 IRR worth .35 cents. This in turn would make a Million IRR worth $350,000 USD. Naturally your taxes would need to be paid so you would not realistically realize this amount but you would at least be able to buy a calculator {{{ Wink }}}. That being said there is some articles posted by ScrewBall that elude to the removal of 4 zeros which would make 1 IRR worth considerably more but until they hit the big red button we need to just wait and see. Secondly most countries regulate that anything over $10,000 must be declared or risk forfeiture.When the time comes ensure that you know exactly what the requirements are for your country as well as the country your traveling to for exchange as I am not sure if the rules are all the same across the board for every country. Hope this helps even a little, pp Thanks very much pp for explains this.. 1 Quote Link to comment Share on other sites More sharing options...
screwball Posted November 7, 2017 Report Share Posted November 7, 2017 My view is travel where you have too, bank it and then get some taxation advice, and pay what you have too! 1 Quote Link to comment Share on other sites More sharing options...
screwball Posted November 7, 2017 Report Share Posted November 7, 2017 1 hour ago, pokerplayer said: Ok to start off Mich with your first question, to simplify we will use 1 USD = 35,000 IRR. So remove 3 zeros will in turn make 1 IRR worth .35 cents. This in turn would make a Million IRR worth $350,000 USD. Naturally your taxes would need to be paid so you would not realistically realize this amount but you would at least be able to buy a calculator {{{ Wink }}}. That being said there is some articles posted by ScrewBall that elude to the removal of 4 zeros which would make 1 IRR worth considerably more but until they hit the big red button we need to just wait and see. Secondly most countries regulate that anything over $10,000 must be declared or risk forfeiture.When the time comes ensure that you know exactly what the requirements are for your country as well as the country your traveling to for exchange as I am not sure if the rules are all the same across the board for every country. Hope this helps even a little, pp What is four? 1 Quote Link to comment Share on other sites More sharing options...
pokerplayer Posted November 7, 2017 Report Share Posted November 7, 2017 Just now, screwball said: What is four? He asked about removing 3 zeros and I just stated I believe you had posted saying they were discussing removing 4 zeros or moving over 4 decimal points. same thing. pp Quote Link to comment Share on other sites More sharing options...
markb57 Posted November 7, 2017 Report Share Posted November 7, 2017 definitely want 4 0's removed 2 Quote Link to comment Share on other sites More sharing options...
screwball Posted November 7, 2017 Report Share Posted November 7, 2017 6 minutes ago, pokerplayer said: He asked about removing 3 zeros and I just stated I believe you had posted saying they were discussing removing 4 zeros or moving over 4 decimal points. same thing. pp Nah all cool just wanted to know rate with four removed... 1 Quote Link to comment Share on other sites More sharing options...
screwball Posted November 7, 2017 Report Share Posted November 7, 2017 4 minutes ago, markb57 said: definitely want 4 0's removed Well let’s hope trump is right about Iran 1 Quote Link to comment Share on other sites More sharing options...
screwball Posted November 7, 2017 Report Share Posted November 7, 2017 I want the same value they want as per in law...weirghted against four grams of gold 1 Quote Link to comment Share on other sites More sharing options...
screwball Posted November 7, 2017 Report Share Posted November 7, 2017 2.605will do nicely 1 1 Quote Link to comment Share on other sites More sharing options...
screwball Posted November 7, 2017 Report Share Posted November 7, 2017 36 minutes ago, pokerplayer said: He asked about removing 3 zeros and I just stated I believe you had posted saying they were discussing removing 4 zeros or moving over 4 decimal points. same thing. pp Yes under previous government the majlis approved four...they have put out so much misinformation we won’t know until the do it! Atleast we are in the game 2 Quote Link to comment Share on other sites More sharing options...
Michymateo2001 Posted November 7, 2017 Report Share Posted November 7, 2017 Ok I do get it better now. Thanks for explanation but I dont see how if they are saying no USD to us or Iran and only 10000 is the maximum how the heck are u cashing in? Their sanctions will not be lifted from what I gather. No international banking with them. Not for nothing but isnt that jail time?? Idk how they can have people sit on the currency it changes and not be able to cash in is basically what they are saying? Or am I totally totally off? Quote Link to comment Share on other sites More sharing options...
screwball Posted November 7, 2017 Report Share Posted November 7, 2017 4 hours ago, Michymateo2001 said: Ok I do get it better now. Thanks for explanation but I dont see how if they are saying no USD to us or Iran and only 10000 is the maximum how the heck are u cashing in? Their sanctions will not be lifted from what I gather. No international banking with them. Not for nothing but isnt that jail time?? Idk how they can have people sit on the currency it changes and not be able to cash in is basically what they are saying? Or am I totally totally off? Nah it’s us treasury saying you transactions can’t start or end in usd...they are doing deals with everyone else.. 2 Quote Link to comment Share on other sites More sharing options...
gregp Posted November 7, 2017 Report Share Posted November 7, 2017 1 hour ago, screwball said: Nah it’s us treasury saying you transactions can’t start or end in usd...they are doing deals with everyone else.. SB, are your banks trading with Iran? 1 Quote Link to comment Share on other sites More sharing options...
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