Iran Raises Foreigners' Bank Account Limit

EghtesadOnline: In its most recent meeting, the Money and Credit Council, a top financial decision-making body, has ruled to raise the ceiling set for the annual turnover of rial accounts allowed for foreigners in Iranian banks.

News ID: ۷۴۳۷۰۱

06 September 2017

According to the ruling, foreigners will now be able to keep a yearly turnover of up to 5 billion rials ($130,000) in their accounts while the previous cap had been set at 1 billion rials ($25,800).

In mid-February, it was announced that for facilitating banking services provided to foreign investors, CBI has communicated a directive approved by MCC, which allows foreigners to open rial deposit accounts in the country’s banking network, according to Financial Tribune.