The Criminal Intervention in Illegal Buy and Sell of Foreign Currency Looking at the Judicial Precedent

Mohammad Jaefar Habibzadeh (), Mahmud Saber () and Mohammad Bahoo ()
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Mohammad Jaefar Habibzadeh : Faculty of Law, Tarbiat Modares University
Mahmud Saber : Faculty of Law, Tarbiat Modares University
Mohammad Bahoo : Faculty of Law, Tarbiat Modares University; Interrogator of the Prosecutor's Office for Money and Banking Crimes

Journal of Money and Economy, 2018, vol. 13, issue 2, 245-265

Abstract: Buy and sell of foreign currency is one of the banking operations and the Central Bank is responsible for formulating and setting its regulations, as well as monitoring their implementation. The essential criminal laws supporting exchange policies are; the Monetary and Banking law of the country approved 09/07/1972, the punishment of the disarrangers of country’s economic system approved 10/12/1990, the regulation law of the non-monetary market approved 11/1/2005, as well as the anti-smuggling of goods and currency, approved 24/12/2013. In this study, we investigate these rules and answer the question by the descriptive and analytical method that whether the criminal legislator’s intervention in the protection of the government communication’s policies in buy and sell of foreign currency is based on the principles including clarity and transparency, or not. We have concluded that the non-observance of some tenets of criminalization as well as the lack of attention to other laws which are approved in this area, causes ambiguity and the conflict between laws as well as controversy in the judiciary precedent. This matter eventually leads to the failure of adopting a single and coherent criminal policy which has been used to confront this illegal behavior.

Keywords: Foreign Currency; Monetary Governance; Judicial Precedent; Criminal Intervention; Exchange Smuggling; Exchange Policy (search for similar items in EconPapers)
JEL-codes: G00 K00 (search for similar items in EconPapers)
Date: 2018
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