Iran judiciary forms special panel to prosecute currency crimes

Iran’s judiciary said on Tuesday it had created a special panel with authority to pursue criminal cases against people accused of violating export foreign-exchange return rules, as the country grapples with sharp currency instability.

Judiciary spokesman Asghar Jahangir told a news conference that the head of the judiciary issued a new order on Monday to form the panel.

“He gave a new instruction for a special board to be created that must, with the cooperation of other officials and urgently, enter cases involving those who have committed currency crimes,” Jahangir said.

He said the focus included exporters who were required to return foreign currency proceeds but failed to do so, a practice officials blame for worsening volatility in the FX market.

Jahangir said the panel would have the power to launch criminal prosecutions related to those alleged violations.