Can I do business with Iranians?

bmstuff

Hello,

Got an email today from a potential customer based in Iran, he wants to buy in car entertainment products from me.

I get customers from all over the world, so getting an email from Iran is not really surprising me.

Not sure what the situation is with making business with Iran with the embargo etc since the last few years.

Can I?

Cheers

mneylon

You might want to review this:
http://ec.europa.eu/trade/policy/countries-and-regions/countries/iran/

pedroeibar1

First question – Why would anyone in Iran want to source in-car entertainment systems from a supplier of in Ireland? Its near neighbours are renowned for electrical car accessories. Why not source there? Suspicious, no? (and sorry, I do not believe that an Iranian would be aware that your product/skillsets make you special.)

Even if the guy is genuine, you would find it a lot more trouble than it’s worth. Iran has the poorest business rating you could find, down there with Iraq, Libya, Nigeria, Syria, Ukraine, and Zimbabwe. Their financial system is creaky at best and even at ILOC levels not without problems. Forget it, concentrate on what you are good at

RUDOLF289

I also suggest to have a look at this document

http://www.bscn.nl/sanctions-consulting/sanctions-list-countries

My understanding is that a number of sanctions have been lifted. Therefore it should be possible to trade with Iran, certainly in the articles you mentioned, unless they have a "dual use" application, i.e. Civil and Military.

Let me know if you have any further questions.

Cheers,
Rudolf289

pedroeibar1

pedroeibar1 wrote: »

First question – Why would anyone in Iran want to source in-car entertainment systems from a supplier of in Ireland? Its near neighbours are renowned for electrical car accessories. Why not source there? Suspicious, no? (and sorry, I do not believe that an Iranian would be aware that your product/skillsets make you special.)

Even if the guy is genuine, you would find it a lot more trouble than it’s worth. Iran has the poorest business rating you could find, down there with Iraq, Libya, Nigeria, Syria, Ukraine, and Zimbabwe. Their financial system is creaky at best and even at ILOC levels not without problems. Forget it, concentrate on what you are good at

Indeed. I have one experience doing business with Iranians selling an off plan apartment through an exhibition in Dubai. They said to me at the time, now you know we are not terrorists like George Bush says!
The 50% downpayment was paid, and then they refused to pay the balance on completion - at which point I cancelled their contract and kept the 50% as per the terms . So if you do consider this, its payment upfront and nothing else.

bmstuff

pedroeibar1 wrote: »

First question – Why would anyone in Iran want to source in-car entertainment systems from a supplier of in Ireland? Its near neighbours are renowned for electrical car accessories. Why not source there? Suspicious, no? (and sorry, I do not believe that an Iranian would be aware that your product/skillsets make you special.)

Even if the guy is genuine, you would find it a lot more trouble than it’s worth. Iran has the poorest business rating you could find, down there with Iraq, Libya, Nigeria, Syria, Ukraine, and Zimbabwe. Their financial system is creaky at best and even at ILOC levels not without problems. Forget it, concentrate on what you are good at

Hu? Because I sell bespoke in car entertainment products for specific cars, that nobody else in the world actually does, and because I am based in Ireland, I am not worthy?
I don't sell 50 euros Lidl radio alright.

Strange reasoning my friend, if I may.

I sell regularly to the US, Japan, Taiwan, Finland, Sweden, Ukraine etc. Why not an Iranian assuming there is no restriction.

I also have local customers too, British ones too driving from mainland UK and norther Ireland too, accidentally

Hachiko

I don't doubt your skills, but Iran is a kettle of fish you probably would not want to get involved with. I would stick with your existing client base.

Thailand is probably a place you might have more success, they love the gadgets but might not have the necessary skills or abundance of places to outfit prestige cars (and there are plenty of prestige cars in Bangkok).

antodeco

Are you MDS?

bmstuff

antodeco wrote: »

Are you MDS?

Na, different league from me, I am more on the higher end of stuff

pedroeibar1

bmstuff wrote: »

Hu? Because I sell bespoke in car entertainment products for specific cars, that nobody else in the world actually does, and because I am based in Ireland, I am not worthy?
I don't sell 50 euros Lidl radio alright.
Strange reasoning my friend, if I may.

Get off your high horse and read my post again. I never suggested that you were unworthy or selling cheapo product. It is your response that is strange, not my reasoning.

Nice photos, lotsa waffle but you have yet to state the bleeding obvious – how are you going to be paid?

bmstuff wrote: »

I sell regularly to the US, Japan, Taiwan, Finland, Sweden, Ukraine etc. Why not an Iranian assuming there is no restriction….I also have local customers too, British ones too driving from mainland UK and norther Ireland too, accidentally

That comment reinforces my view that you are totally out of your depth when it comes to managing export risk.
Do you know anything about Iranian banking? The impact of Sharia? Silent confirmations? Transfer risk? Bank Markazi? Bank Melli?

Any gobadaw can have sales, business is about getting paid. You've yet to show that you have some idea of that - i.e. business beyond a wiring loom.:rolleyes:

bmstuff

pedroeibar1 wrote: »

Get off your high horse and read my post again. I never suggested that you were unworthy or selling cheapo product. It is your response that is strange, not my reasoning.

Nice photos, lotsa waffle but you have yet to state the bleeding obvious – how are you going to be paid?


That comment reinforces my view that you are totally out of your depth when it comes to managing export risk.
Do you know anything about Iranian banking? The impact of Sharia? Silent confirmations? Transfer risk? Bank Markazi? Bank Melli?

Any gobadaw can have sales, business is about getting paid. You've yet to show that you have some idea of that - i.e. business beyond a wiring loom.:rolleyes:

Yet again you are insulting my intelligence.

You clearly said : Its near neighbours are renowned for electrical car accessories. Why not source there? Suspicious, no? (and sorry, I do not believe that an Iranian would be aware that your product/skillsets make you special.)

I did not ask for help to be told neighbouring countries are more qualified that me and this is exactly what you did without even knowing what I build from scratch and sell. You should get down you high horse yourself, you are nobody to tell me that.

Then you go on insulting me towards my payment risk management, without even knowing how I get paid?

Well most of the time this is by bank wire, this is how I handle my risk management. I use a card payment processor too that handles Visa, Mastercard etc, not 100% risk free of course, but I also always check the transactions details.But I do not accept card payments from many locations.
Incidentally the only card fraud I was a victim off some time ago, was from a local Irish guy. Nobody from Ukraine, Japan, US etc ever used a stolen card to pay me.But I am very careful and cancelled card transactions in the past.

You went way out of line and your comments did not address any of my questions.

Please refrain from further posting in my thread, I really hope you don't do this professionally.

bmstuff

pedroeibar1 wrote: »

Any gobadaw can have sales, business is about getting paid. You've yet to show that you have some idea of that - i.e. business beyond a wiring loom.:rolleyes:

An no if that was that easy everybody would be selling stuff on the internet. It takes months and years of hard work to keep an ecommerce going. Trust builds only over time, people check reviews online before buying, they check you use HTTPS, check your products.

Getting paid is the easy part once you have the trust. You are mixing everything up. You are a very confused individual.

PhoenixParker

Your two big problems will be getting paid and getting the product to them. Getting pad because the big international credit card and online payment companies don't work in Iran - visa, MasterCard etc. Getting the product to them because again the usual channels aren't operating there (as far as I know)

They may have their own workarounds they use already. Have they suggested how both of those will work? Can you do it in such a way that there's no chance of a chargeback?

bmstuff

bmstuff wrote: »

Getting paid is the easy part once you have the trust. You are mixing everything up. You are a very confused individual.

Yeah but its not in this case. This is the part your worried about hence why your posting. It is in fact the only reason your posting - will I get paid if I do business with Iran.

A simple way to cut through this nonsense to and fro would be to mail the client and say, yes I'll send you your product, but pay for it 100% upfront, and any if there are any political reasons the package does not arrive you are liable and not me.

If the business with Iran is worth a lot of money, then find yourself a local distributor and make a deal with them to bring in the product from you and give them a cut to handle all the crap over there, but again at least cover your costs before you send anything.

Forget things like trust when you are dealing with places like this, it doesn't exist!

pedroeibar1

bmstuff wrote:

Please refrain from further posting in my thread, I really hope you don't do this professionally.

Your thread? I will post what and where I like, while remaining within the Charter. I do not “do this professionally” anymore, but for decades I was involved in exports, many USDmillions of which went to Iran, which is why I responded to your OP.
You state

bmstuff wrote:

Getting paid is the easy part once you have the trust. You are mixing everything up. You are a very confused individual.
Well most of the time this is by bank wire, this is how I handle my risk management. I use a card payment processor too that handles Visa, Mastercard etc, not 100% risk free of course, but I also always check the transactions details.

You came here for advice, yet you post comments that would make the newest of exporters cringe. You’ve ignored most of what has been said to you, sensible stuff like the pointer above that credit cards do not work in Iran (FWIW some few have and use debit cards, as interest is not permitted by Sharia). Nor have you any idea of how their international payments system works, or the difference between commercial and political credit risk. You are seriously out of your depth, now off you go and learn the hard way.

RUDOLF289

bmstuff wrote: »

Hello,

Got an email today from a potential customer based in Iran, he wants to buy in car entertainment products from me.

I get customers from all over the world, so getting an email from Iran is not really surprising me.

Not sure what the situation is with making business with Iran with the embargo etc since the last few years.

Can I?

Cheers

Gentlemen,

It appears you are going ever so slightly "off thread". Carefully look at the question asked above. Nowhere do I see any question about getting paid. The question is, can OP legitimately trade with a potential client in Iran.

I do agree with the OP that some of the comments can be construed as condescending. Possibly not intended, however, let's keep on point and support a local manufacturer, with a unique product in his efforts to develop additional sales.

Cheers,
Rudolf289

RUDOLF289

RUDOLF289 wrote: »

Gentlemen,

It appears you are going ever so slightly "off thread". Carefully look at the question asked above. Nowhere do I see any question about getting paid. The question is, can OP legitimately trade with a potential client in Iran.

I do agree with the OP that some of the comments can be construed as condescending. Possibly not intended, however, let's keep on point and support a local manufacturer, with a unique product in his efforts to develop additional sales.

Cheers,
Rudolf289

Well with respect Rudolf, trading with Iran is legal, and getting paid is the only real issue here isn't it?

RUDOLF289

Hello El Rifle,

not 100% sure that all trade with Iran is legal, but some of the embargoes have been lifted. And as I said, the question was is trade with Iran legal. Looks to me the OP is savvy enough to figure out acceptable payment terms.

cheers,
Rudolf289

pedroeibar1

RUDOLF289 wrote: »

Hello El Rifle,

not 100% sure that all trade with Iran is legal, but some of the embargoes have been lifted. And as I said, the question was is trade with Iran legal. Looks to me the OP is savvy enough to figure out acceptable payment terms.

cheers,
Rudolf289

Splendid post Rudolf, really adds value. However, from what has been posted by the OP I doubt that the he is savvy enough on Iran to structure anything there (other than a bad debt), which is why I pushed him. It is a rather different "ghilayat min al'asmak" to China. Almost all trade with Iran is legal today, as is apparent to anyone who can use Google. However, payment always was, is and will be a problem. And it will get worse.

You ever see a Ferrari/Beemer/Merc drive down Bobby Sands Street in Teheran with a boom box on the go? (Actually, you ever been to Iran, Rudolf?) Can you imagine the harm one or two of the Sharia Police could inflict on a car playing the music of the Great Satan? (Not to mention a driver foolhardy enough to irritate them!)

It is a concern when any potential exporter places Iran in the same category as Grade A markets, as the OP did, and goes on to talk about payment by credit card or "wire". But then, lil old me probably knows nothing, ‘cos since the middle of the Iran-Iraq war (1980's) I was involved with supplying both sides and have in my career done large amounts of work in the ME among other areas.
“Guns, Butter & Videos”, (and the odd Toyota Corolla for the pilot’s families) and the rival stances on payment by the different authorities. If you know anything about trade with what was Iraq and today’s Iran you will get my drift.
OP, get cash with order, no other way for the piddling amounts in question.
Cheers,
Pedro.

delahuntv

why does certain poster always insult people when the ask legitimate questions?

Do you notice how many people who used to give great advice ahve left this thread - even I can't be arsed making constructive comments because one particular ahole will find some fault on it because he is so effin brilliant and must at this stage be a multiple holder of business person of the year award.


To the OP - these days if you post here, even a gu=enuine query, you will get slated by ne or 2 posters in particular.

Those who used to give excellent advice have mostly left the forum.

fits

pedroeibar1 wrote: »

. If you know anything about trade with what was Iraq and today’s Iran you will get my drift.
OP, get cash with order, no other way for the piddling amounts in question.
Cheers,
Pedro.

I think your views are outdated. Iran has opened up a lot in recent years.

delahuntv

delahuntv wrote: »

Those who used to give excellent advice have mostly left the forum.

Which posters are you talking about?

I don't understand why people can't be a bit more thicker skinned around here, its a business forum after all, and people need to be a lot tougher.

I just disagreed with some shoddy advice a guy gave the other day, and he went off in a huff and deleted his account, I didn't even say boo to him!

In this thread I think the OP showed some naivety (we have all done so in our careers at some point) and so he got his ass kicked a bit, which is to his benefit. He will really know what he should be careful on now and the real problems with what he was looking at (getting paid). In my opinion thats all positive for the OP and can only be to his benefit. Sure it wasn't sugar coated but thats just the way some people deliver advice. Often it takes that kind of deliver to get through to people, I wish I had had some of that in my 20's.
If you ask me the two best posters in this forum and the most valuable with the most knowledge are the one or two guys you are talking about as insulting. Without them the place would be severely less well off.

Plenty of times I've been given strong advice and been too stubborn at the time to take it, or got upset because I was patronised or whatever but it should all be water off a ducks back in business for an entrepreneur. Being sensitive as an entrepreneur is highly detrimental if you ask me.
Maybe I'm wrong and the OP is very upset but I doubt it and my feeling is he certainly won't be naive in dealing with Iran after this.

pedroeibar1

fits wrote: »

I think your views are outdated. Iran has opened up a lot in recent years.

I agree there is absolutely no doubt that Iran has become more open. My views are not outdated, Iran remains a very difficult place in which to do business and because of the (now-lifted) sanctions its economy has been declining. Currently, it probably is static for a variety of reasons, among them being depressed oil prices, oil accounting for about 80% of its export income. However, investment in the oil industry was heavily hit by the sanctions and that industry has not yet recovered. Add to that an economic downturn in China (its main trading partner), taking about 30% of its exports and the effect is obvious. Unemployment is high at more than 15% so household consumption will remain down. A current trend in the rise in "religious risk" throughout the world of Islam has a number of people worried, but that is not for here.

@ delahuntv, if you do not like what I post, attack its content, not me.:P

pedronomix

I refrained from posting on this as I have no experience of tradiing in that region, but it is quite clear that this is right uo pedro eile's field of knowledge and experience. As a long time exporter I do know that you only seek to do business with someone abroad that can satisfy yourself that you will get paid. A good test is to establish if the mark or the region is capable of being covered by trade insurance, if not walk away.

As to all the "watch with mother" PC drivel, it has no place in the jungle that is the world of commerce, only the tough survive in this game. Smart takes on board better knowledge/advice and uses it to their own advantage.

Bluefoam

pedroeibar1 wrote: »

Splendid post Rudolf, really adds value. However, from what has been posted by the OP I doubt that the he is savvy enough on Iran to structure anything there (other than a bad debt), which is why I pushed him. It is a rather different "ghilayat min al'asmak" to China. Almost all trade with Iran is legal today, as is apparent to anyone who can use Google. However, payment always was, is and will be a problem. And it will get worse.

You ever see a Ferrari/Beemer/Merc drive down Bobby Sands Street in Teheran with a boom box on the go? (Actually, you ever been to Iran, Rudolf?) Can you imagine the harm one or two of the Sharia Police could inflict on a car playing the music of the Great Satan? (Not to mention a driver foolhardy enough to irritate them!)

It is a concern when any potential exporter places Iran in the same category as Grade A markets, as the OP did, and goes on to talk about payment by credit card or "wire". But then, lil old me probably knows nothing, ‘cos since the middle of the Iran-Iraq war (1980's) I was involved with supplying both sides and have in my career done large amounts of work in the ME among other areas.
“Guns, Butter & Videos”, (and the odd Toyota Corolla for the pilot’s families) and the rival stances on payment by the different authorities. If you know anything about trade with what was Iraq and today’s Iran you will get my drift.
OP, get cash with order, no other way for the piddling amounts in question.
Cheers,
Pedro.

What the hell are you taking about????!!!!

OP, I live just across the water from Iran & while I haven't visited yet, I can tell you that it is a normal functional country, irrespective of the propaganda/perception you'd get from living in Ireland...

I have friend who holiday there (skiing is particularly popular, no joke), I have colleagues who do business there regularly. I come in contact with Iranians on a daily basis...

While its true that allot of car audio equipment is available there, it is often of the knock off type. If you want high quality in this region it is often better to purchase from Europe, US or parts of Asia... Sometime the prices here are inflated, sometimes you need additional accessories that are not available in this limited market and sometimes the suppliers here are less reliable than elsewhere... Many people are happy to pay a premium to get the right product for them!

With regard to payment... They may have credit cards from other regions, Paypal accounts or wire services... these are functional across the internet and the world... If the OP is dealing as an online trader, he will be aware of how to collect payments etc.

I find it funny sometimes to hear how some uneducated people consider the outside world... Iran has its own idiosyncrasies and problems. It has its share of baddies, but it also has an overwhelming amount of good people too...

Bluefoam

Bluefoam wrote: »

What the hell are you taking about????!!!!

OP, I live just across the water from Iran & while I haven't visited yet, I can tell you that it is a normal functional country, irrespective of the propaganda/perception you'd get from living in Ireland...

Isn't iran run by a 10% minority of fundamental religious people who control the politics of the country, while the other 90% if they dissent or protest in the streets get shot and killed? As far as I know when the public last held a rally during the last election the army just opened fire on the crowd killing many dozens of people but reporting the deaths of just 7.
A place where music is banned, women have no rights, and men are executed for being gay.

Would you consider the above part of a normal functioning country?


Its a place that has a very different business culture, just like its arab neighbours have their own different business culture that needs experience to navigate.



A lot of understanding different business culture is actually doing business and having experience of their mentality. How they react to different problems and situations in comparison to say an Irish person, never mind the laws and trade rules. Its a very steep learning curve. Assuming everything is fine in a place so different from your own country is a mistake. And mistakes cost you money. Places like France can be hard, its a whole other level dealing with the middle east.

RUDOLF289

pedroeibar1 wrote: »

First question – Why would anyone in Iran want to source in-car entertainment systems from a supplier of in Ireland? Its near neighbours are renowned for electrical car accessories. Why not source there? Suspicious, no? (and sorry, I do not believe that an Iranian would be aware that your product/skillsets make you special.)

Even if the guy is genuine, you would find it a lot more trouble than it’s worth. Iran has the poorest business rating you could find, down there with Iraq, Libya, Nigeria, Syria, Ukraine, and Zimbabwe. Their financial system is creaky at best and even at ILOC levels not without problems. Forget it, concentrate on what you are good at

pedroeibar1 wrote: »

Splendid post Rudolf, really adds value. However, from what has been posted by the OP I doubt that the he is savvy enough on Iran to structure anything there (other than a bad debt), which is why I pushed him. It is a rather different "ghilayat min al'asmak" to China. Almost all trade with Iran is legal today, as is apparent to anyone who can use Google. However, payment always was, is and will be a problem. And it will get worse.

You ever see a Ferrari/Beemer/Merc drive down Bobby Sands Street in Teheran with a boom box on the go? (Actually, you ever been to Iran, Rudolf?) Can you imagine the harm one or two of the Sharia Police could inflict on a car playing the music of the Great Satan? (Not to mention a driver foolhardy enough to irritate them!)

It is a concern when any potential exporter places Iran in the same category as Grade A markets, as the OP did, and goes on to talk about payment by credit card or "wire". But then, lil old me probably knows nothing, ‘cos since the middle of the Iran-Iraq war (1980's) I was involved with supplying both sides and have in my career done large amounts of work in the ME among other areas.
“Guns, Butter & Videos”, (and the odd Toyota Corolla for the pilot’s families) and the rival stances on payment by the different authorities. If you know anything about trade with what was Iraq and today’s Iran you will get my drift.
OP, get cash with order, no other way for the piddling amounts in question.
Cheers,
Pedro.

I am glad we have a genuine expert on Iran amongst the contributors to this forum. I am impressed by his modesty and humility and his eagerness to help and guide people in the right direction.

Thank you Pedroeibar1, you make the world a better place !

Cheers,
Rudolf289

pedroeibar1

pedronomix wrote: »

...... A good test is to establish if the mark or the region is capable of being covered by trade insurance, if not walk away.....

Fair point Pedronomix. Credit insurance cover for Iran is not available from the world’s biggest private specialist credit insurers (Atradius, Coface, Euler). AFAIK the main Irish banks are also closed for confirming Iranian ILCs. Iran is rated at the very bottom of the credit rating scale by all main agencies for payment risk, and near the bottom as a place in which to do business.

As for those who wrote comments on Iran being a beautiful place with lovely people, yes, it has some lovely scenery and nice people but has had series of oppressive political regimes and some of the nastiest people you can find anywhere. Syria also is a beautiful country, as is Lebanon and Iraq. None of that provides a guarantee of payment to me, nor does it mean I have them on my holiday destination list.

The OP has enough to go on, the inane contributions of many others speak for themselves..

pedroeibar1

RUDOLF289 wrote: »

I am glad we have a genuine expert on Iran amongst the contributors to this forum. I am impressed by his modesty and humility and his eagerness to help and guide people in the right direction.

Thank you Pedroeibar1, you make the world a better place !

Cheers,
Rudolf289

No problem Rudolf, as you are aware genuine experts tend to be blunt and sometimes upset people by their knowledge/experience. That is why I admire your posts on dealing with the Chinese market.
Cheers,
Pedro.

BuilderPlumber

Deleted User wrote: »

Isn't iran run by a 10% minority of fundamental religious people who control the politics of the country, while the other 90% if they dissent or protest in the streets get shot and killed? As far as I know when the public last held a rally during the last election the army just opened fire on the crowd killing many dozens of people but reporting the deaths of just 7.
A place where music is banned, women have no rights, and men are executed for being gay.

Would you consider the above part of a normal functioning country?


Its a place that has a very different business culture, just like its arab neighbours have their own different business culture that needs experience to navigate.



A lot of understanding different business culture is actually doing business and having experience of their mentality. How they react to different problems and situations in comparison to say an Irish person, never mind the laws and trade rules. Its a very steep learning curve. Assuming everything is fine in a place so different from your own country is a mistake. And mistakes cost you money. Places like France can be hard, its a whole other level dealing with the middle east.

The above describes SAUDI ARABIA more accurately than Iran. Iran's unelected 'religious' leadership are far from perfect but are preferable anyday to Saudi Arabia's. Iran's current moderate elected government is trying to open things up. Saudi Arabia's government has made no effort at all to modernise things. People have more rights in Iran than Saudi Arabia. Music is not bannned in Iran: restricted, yes, not too unlike Ireland in fact where only 2 genres (modern pop and boyfolk aka country pop) is promoted and where other genre practicioners cannot make a living out of music at all. Saudi Arabia has more restrictions on music than both Ireland and Iran. True, women should have a LOT more rights in Iran than they do but to say they have no rights is not true. They have a lot more rights than Saudi Arabian women.

Still, and all, we have no problem doing business with Saudi Arabia which is much more repressive than Iran. So, why not do business with Iran and you will find the less isolated Iran becomes, the more modern it will get.

BuilderPlumber

pedroeibar1 wrote: »

I agree there is absolutely no doubt that Iran has become more open. My views are not outdated, Iran remains a very difficult place in which to do business and because of the (now-lifted) sanctions its economy has been declining. Currently, it probably is static for a variety of reasons, among them being depressed oil prices, oil accounting for about 80% of its export income. However, investment in the oil industry was heavily hit by the sanctions and that industry has not yet recovered. Add to that an economic downturn in China (its main trading partner), taking about 30% of its exports and the effect is obvious. Unemployment is high at more than 15% so household consumption will remain down. A current trend in the rise in "religious risk" throughout the world of Islam has a number of people worried, but that is not for here.

@ delahuntv, if you do not like what I post, attack its content, not me.:P

I think that we ignore and write off Iran as a place to do business at our peril. In recent decades, Iran has had its fair share of war, poor governments, bullying from arrogant US and Israeli regimes, superpower chess games, unfinished revolution, corruption, unfavourable treatment and the like. It also suffers from the fact that it is in a region where despite the fact that Iran itself has been relatively stable of late, the countries around it have frightened anyone from going to the region. To name a few: Iraq, Syria and Afghanistan with the first and third bordering Iran.

Iran has suffered from poor governance both in itself (Ahmadinejad's regime seemed to be the Basil Faulty of Iranian politics making one blunder after the next that hurt only Iran) and in the world (The Bush administration seemed to be the Basil Faulty of world politics making one blunder after the next that hurt not only Iran but America and the rest of the world too). But now Iran's much more competent Rouhani administration is improving things. True, a lot has to be done. But we should all look towards Iran and help it become what it has the potential to be. It has oil, a modern-outlooking popultation, other resources, tourist attractions and a strategic location. It does need to reform its banking sector and provide more access to services like credit cards. As sanctions cease, this will be more possible and mark my word, it will soon become the new Eastern Europe for developers! We need to be careful we do not start treating Iran and our banks like we once did Bulgaria and our banks!