Iran requires visitors to declare cash in excess of $10 thousand upon arrival in the country

Almaty. November 22. Silkroadnews – Central Bank of Iran issued a directive to declare the currency in the amount of more than $10 thousand when arriving in the country, IrTAG writes.

According to the directive, when entering the country travelers and truck drivers must declare currency in excess of $10 thousand at the financial intelligence unit of the Ministry of Economy of Iran, in accordance with the international laws to combat money laundering.

The new measures are designed to “close the loopholes in the existing laws”. Travelers bringing large amounts of cash should contact the Customs administration, where they will be asked to go to the border branch of Melli Iran bank (the branches are also located in the territory of airports) to receive a due receipt there. After that, the financial intelligence unit will allow to bring the cash. With this the travelers can either get their cash back or sell it at the Melli Iran bank at the open market interest rates.

Offices of financial intelligence units operate at 14 border crossing points.