The Central Bank has firmly opposed the import of luxury cars and the use of the residency cards of Iranians abroad. Given the recent uproar regarding this issue and the efforts of brokers to profit from it, this monetary policymaking body has decided to halt this trend.
Correspondence of the Central Bank with the Ministry of Industry
In a correspondence that the Central Bank had with the Ministry of Industry, Mine and Trade (IMT), it was emphasized that if this practice continues, no SATA code (currency allocation code for imports) will be issued. The SATA code is vital for passing through customs and finalizing the import process, and not issuing it means a complete halt to the import of luxury cars.
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Warning about Rent and Currency Fluctuations
The Central Bank, understanding the current currency conditions and the concern about creating rent in this path, has decided not to turn the legal capacity for car imports into a tool for speculation and the outflow of currency resources. This approach reflects the Central Bank's priority in maintaining currency stability and preventing the formation of a false market for car imports.
The Central Bank's decision has significantly impacted the dreams of applicants seeking huge profits by purchasing cars like the Lexus LX700, Mercedes, and BMW, effectively bringing it to a standstill. This decision has become even more significant in the current situation where the luxury car market is experiencing turmoil due to currency fluctuations.
Applicants and active participants in this field must now separate themselves from intermediary markets and await the final determination of regulations by the responsible authorities. In the meantime, the Central Bank's emphasis on adhering to laws and preserving currency resources demonstrates this institution's serious determination to optimally manage the country's resources.
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