Qatar replacing UAE as hawala trade hub for Iran
Video     Photos     Pakistan     World     Islam     Health     Crime     Islamic News     Business     Society     India     Travel     Middle East     Sport     sci/tech      Contact      RSS
Search

Muharram & Karbala: The Martyrdom Anniversary of Imam Husayn(A.S.)

Saudi Arabia invited to become third strategic partner in CPEC: Fawad Chaudhry

Bannon: Saudi, Egypt, UAE prepared to occupy Qatar

Talks again: Positive overtures between Modi and Khan

Shafaqna Exclusive: The deal behind Nawaz Sharif's release

Religious affairs minister discusses treatment of Xinjiang Muslims with Chinese envoy

US envoy says Washington seeks a treaty with Iran

'Saudis gave MKO gold, Rolex watches worth hundreds of millions of dollars'

India outclass Pakistan in one-sided Asia Cup affair

What happens next after IHC orders Nawaz Sharif's release?

Sentences of Nawaz Sharif, Maryam Nawaz, Capt Safdar suspended

CJP takes notice of 10-year-old Amal’s death in Karachi

Is Saudia paying $2bn for Nawaz Sharif's safe passage?

The Man Behind Imran Khan

Video: Who Hussain is and why Shia Muslims mourn for him?

Lives of hundreds of thousands of Yemeni children hang in balance

Why IMF looks unavoidable?

Sarfraz, Rohit promise blockbuster India-Pakistan clash

ICC launches investigation into Myanmar’s crimes against Rohingya Muslims

Afghanistan arrests over two dozen Daesh terrorists ahead of Ashura

Motives behind Saudi largesse: Is Bin Salman wooing Imran Khan with Petr-dollars?

Azadars under attack by terrorists in Ratto Dero Larkana

Sarfraz bats for Indo-Pak series on home soil

Farhan Junejo, close aide of late PPP leader, reportedly arrested in UK

Democrats planning to stop Trump’s military support for Saudi war on Yemen

Can India and Pakistan cooperate on water?

CTD Punjab ‘breaks’ TTP, Hizbul Ahrar network

Pakistan's Imran Khan vows to give citizenship to some Afghans, Bengalis

NATO warships moving closer to Syria shores amid looming US airstrikes: Report

29th Annual Ashura Day Procession in London to be held on Thursday

Number of prisoners of conscience in Saudi Arabia increases to 2,613

US always has a political bias against Muslims, says Minister Shireen Mazari

Pakistan Embassy commemorates Defence Day in Tehran

Run out/match ratio: Pakistan remains best fielding side in ODIs in last two years

Pakistan, UK reach agreement on repatriation of 'looted wealth'

Manzoor Pashteen, PTM leader – declared a proclaimed offender

China struggles with Belt and Road pushback

PPP warns of strong ‘resistance’ if Kalabagh dam project is revived

Yemeni forces shoot down Saudi spy drone in Jizan

Iran says Saudis, UAE turned OPEC into “tool” for US

Pakistani Student Wins Award for Improving LTE & 5G Wireless Systems

Outlawed Sipah-e-Sahaba threatens shopkeepers over Nohas in Hub city

A massive paradigm shift: US envoy claims Pakistan ready to open Afghan land route for India: US envoy

South Asia Cup: Pakistan takes on Hong Kong today

Indian army has crossed all limits of cruelty in Indian Occupied Kashmir

Mismatch between Imran Khan’s words and Punjab govt’s deeds!

New laws: Opposing Dam can be treason in Pakistan

A proactive foreign policy: Can Pakistan replace India in Afghanistan?

Iran envoy: World should take MI6's Syria plot seriously

Syrian military downs Israeli missiles fired at Damascus airport

Freedom of speech and blasphemous caricatures

Iran envoy speaks at National Defense University on Pak-Iran strategic cooperation

Malik Riaz of Bahria Town extends sincere apologies to Shia Muslims

UK legislators’ team rejects plea for Ishaq Dar’s deportation

Turkey pledges to support Pakistan on Kashmir at UN

Medical, dental colleges’ entry test on September 23

Bilateralism between India and Pakistan

Israeli forces fatally shoot three Palestinians in Gaza

Not my fault that I'm Inzamam’s nephew: Imam-ul-Haq

Saudi Arabia holds religious oppression as a normalized system of governance

Senior UAE official pays secret visit to Israel: Report

Taliban for minus Pakistan talks with US administration

Youm-e-Ali Asghar observed to commemorate Imam Hussain’s infant

Begum Kulsoom Nawaz's funeral

Un-poisoning the chalice!

World’s longest straight-line sea route connects Pakistan to Russia

CPEC: Exposed to hybrid warfare

Spain gives in to Saudi pressure to deliver 400 precision bombs

Saudi forces tear down Muharram mourning tents in Shia Qatif region

Saudi Arabia buys Israeli ‘Iron Dome’ system amid détente: Report

Syrians dodge death with air strike warning app

Four senior Shia Islamic scholars gagged as no change seen under PTI govt

Kulsoom Nawaz’s funeral prayers held in London

Mini budget Bomb: Govt to impose new taxes of Rs400bn

India beat Pakistan 3-1 to reach SAFF final

Prime Minister House to be converted into high-quality postgraduate institute: minister

Dam Mania: Can Pakistan go for Kala Bagh dam?

An old Mantra: Is US planning again to control Pakistan nukes?

India’s push on Iran's Chabahar puts US in tight corner

Pompeo appreciates Saudi respect for civilians in Yemen war, lets aid continue

Official: UAE convinced Yemen’s Saleh to ally with Houthis

Sharifs' Raiwind residence declared sub-jail as Nawaz, Maryam parole extended by three days

High security needed in Moharram due to threat of terrorism

Will Imran Khan continue support with Saudi led military coalition?

A hope for a better education system

Pompeo said US would not block Pakistan if it seeks IMF bailout: Fawad Chaudhry

PM Imran Khan forms task force on sports

At key ‘2+2’ talks, India should take US demands on Iran oil sanctions with a pinch of salt

Govt allows Nawaz Sharif, Maryam to attend Kulsoom funeral in Lahore on parole

Bus crash in India's Telangana state kills at least 53

UK urged to relax rules on foreign students

Suicide bomber kills 32 in Afghanistan’s Nangarhar province

Sindh education dept orders private schools to return extra fees

Election Commission rejects petition against renamed banned terrorist outfit PRHP

Wife of Ex-Prime Minister Nawaz Sharif passes away in London after long battle with cancer

Is ‘South Punjab’ possible?

Sarfraz wants Pakistan to post 300-plus in every Asia Cup game

Turkic Muslims: China and the Muslim world’s Achilles heel

Pakistan, China react angrily to Financial Times report on CPEC

Gen Bajwa donates Rs1bn for dam fund on military's behalf

2018-04-24 13:08:21

Qatar replacing UAE as hawala trade hub for Iran

Iran will use Qatar to facilitate payment orders in foreign currencies, phasing out such operations in Dubai where restrictions imposed by the UAE government are making financial transactions difficult.

“Several Iranian banks have opened accounts with Qatar National Bank, through which the transactions of payment orders in foreign currencies will be carried out,” Fars news agency reported Tuesday, citing what it described as a senior official at the Central Bank of Iran.

“Due to the difficulties that have arisen with Dubai for foreign exchange transfers, forex relations are expanding with Qatar,” the official said, adding “our effort is to turn Qatar into a forex hub” for Iranian financial transactions and fill the void as a result of problems with Dubai.

Dubai emerged as an important link between Iran’s economy and the rest of the world after the Islamic Republic was frozen out of the international banking system under intensified US and European sanctions in 2011.

Informal dealers replaced normal banking channels to process flows of money into and out of Iran, providing currency to ordinary Iranians and turning Dubai into a center for handling trade and investment for Iran.

The system being used is called hawala, under which dealers take in payments in Dubai and pay out in Iran through their connections.

The dealers were licensed by UAE authorities and while the hawala trade initially did not appear to violate any regulations, new restrictions are reportedly complicating it.

The practice has also created problems in Iran where dealers have been at the center of a rush by some Iranians buying foreign currencies in the face of the depreciating rial.

Categories:   Business ،
Tags:   Iran ، UAE ، Qatar ،
From other agencies (RSS Reader)

Dilemma of Sharifs

- The News

درس حسین ؓکیا ہے؟

- ایکسپریس