Illegal buying and selling of dollars is one example of currency smuggling. For this reason, laws have been enacted to regulate the country’s economy and maintain economic order.
According to the news site Saed News,
Laws on Buying and Selling Dollars
Under the Islamic Penal Code, illegal buying and selling of dollars is considered a form of currency smuggling. For this reason, laws have been enacted to regulate the country’s economy and maintain economic order. Since the buying and selling of dollars must be done through licensed exchange offices, individuals who engage in buying and selling dollars illegally and without a license are considered criminals and will be punished.
Is buying and selling dollars a crime?
Currency transactions and buying and selling dollars must be conducted through one of the following two channels:
By the Central Bank
Licensed exchange offices in the city
If individuals interfere or engage in buying and selling dollars outside these channels, they have committed a crime and, depending on the nature of their involvement, will be punished according to the law.
Punishments for Buying and Selling Dollars
The types of crimes and punishments for buying and selling dollars are as follows:
Illegal buying and selling of dollars with a value less than one million tomans:
Confiscation of the amount of dollars involved and recording it in an official report signed by the accused.
Illegal buying and selling of dollars with a value greater than one million tomans:
Confiscation of the amount of dollars involved along with a fine equal to twice the amount of the discovered dollars.
Illegal buying and selling of dollars with a value greater than one million tomans discovered at the time of leaving the country:
Confiscation of the discovered amount of dollars, delivery to the Central Bank, along with a fine equal to four times the amount of the discovered dollars.
In addition to the above punishments, if an individual or group illegally buys and sells large amounts of dollars and it is proven that their goal is to disrupt the country’s economic system or harm the regime, the penalties for buying and selling dollars will be severe. Such individuals or groups are considered “corruptors on earth” (Mofsed Fi Al-Ard), and usually judges and courts issue the death penalty for them.
