One of my client is importing date from Dubai. Port of Loading is Dubai & certificate of origin is from Iran. The bank are refusing to make payment. Is payment banned in such cases? Few importer from our region are able to make payment in this case. Kindly guide what can be done to resolve.
Also, Bank have informed that if payment is directly from Iran then import payment will be allowed to be made in INR.
Bank Refuses AED Payments for Dubai Date Imports Due to Iranian Origin; Suggests Convertible Currency or RBI Consultation. A client is facing issues with a bank refusing to process payments in AED for dates imported from Dubai due to the certificate of origin being from Iran. The bank indicated payments directly from Iran can be made in INR. Some importers have managed payments in similar situations. The suggestion provided is to attempt payment in a freely convertible currency to Dubai and consult the Reserve Bank of India if issues persist. (AI Summary)
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