More and more capital leaves Iran

Iran Press News: Translation by Banafsheh Zand-Bonazzi

Following Ahmadinejad's installation to presidency and the increase of international pressure against the regime [on the nuclear issue], more and more capital has been leaving Iran. According to FARDA, Ahmdainejad's own web site, up to now, $200 billion has been taken out of the country.

Farda writes: "The total sum of the Iranian capital being taken to the United Arab Emirates at present is 740 Billion Drahams (equal to $200 billion); it is estimated that by 2006-2007 that sum will increase to 1200 Drahams (equal to $326 billion). Iranian investors own 31% of the multi-million dollar villas in the area of Al-Hamra in the Ras Al-Khalimeh Emirate and 20% of the stores and businesses in the U.A.E. Of course the U.A.E. is the number one investment destination in the world for Iranians.