Wednesday, 3rd January 2007 (4367 views)

The Central Bank of Iran (CBI) has decided not to impose a ban on imports of standard gold bars, instead allowing people to bring them into the country with its permission.

Seyyed Jalal Jalilian, manager of the CBI's Bureau for Printing Paper Money and Treasury, told Iran Daily: "Under a recent CBI directive, the Customs Administration of Iran would not impose a ban on those importing gold bars while observing all rules and regulations."

Standard gold bars, according to the CBI, are those that have the name of the manufacturing company, the fineness of the gold and the weight of the bar engraved upon them.

The importing of such gold bars will now be authorised by the CBI, although it is still forbidden to export them as Iran looks to support its domestic gold producers.

"Export of gold bars is viewed as flight of capital and is thus forbidden," explained Mr Jalilian.

Dubai and Turkey are thought to be Iran's main suppliers of imported gold bars.

 

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