Bagfuls of Cash Show Iran Currency Squeeze Behind Nuclear Thaw - Bloomberg:
"When Mohammad-Reza needed parts for his heater company in Iran last month, he carried a bagful of 500-euro notes on a plane to Dubai and paid his German supplier over coffee in a hotel lobby. Often, he says, he has to use even riskier channels.
Mohammad-Reza, who declined to give his surname for fear of reprisals, says he uses informal currency transfers called hawala to get around the sanctions that cut Iran off from the global banking system. “Everything’s based on mutual trust,” he said in an interview in his Tehran office, describing a widely used network of unofficial middle-men. “The currency shops in Tehran don’t give you a receipt, and it’s not clear when the supplier in Germany, the Czech Republic or South Korea will receive it. Sometimes money gets lost in transmission.”"
'via Blog this'
No comments:
Post a Comment