Rezai withdraws complaint


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The defeated Iranian presidential candidate Mohsen Rezai withdrew complaints made to the country's electoral watchdog about the disputed presidential election, IRNA news agency said. In a letter written to the Guardians Council, Mr Rezai said he was withdrawing his complaints as the country's "political, social and security situation has entered a sensitive and decisive phase, which is more important than the election.

"I feel it is my duty... taking into account my pledge as a soldier of the revolution, the leader and the people, to inform you that I renounce following up on my complaints." Mr Rezai was one of the three defeated candidates who had complained to the Guardians Council of "irregularities" in the June 12 election that saw President Mahmoud Ahmadinejad return to power. Mr Rezai, the former head of the elite Revolutionary Guards Corps, also ran in the 2005 presidential campaign but withdrew two days before the election.

* AFP

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Fixtures

Sunday, 10am, ICC Academy, Dubai - UAE v Scotland

Admission is free

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Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.