13% annual interest rate? | General financial discussion | Discussion forum

ashkan66, you say "there's no problem in terms of trust, etc" and are wondering how much to put into the account. If you truly believe there are zero issues with trust and security, and if after taking Peter's very important proviso re currency fluctuations into consideration you still think it's a good idea, well, it's your money and you're not going to get near 13% guaranteed around these parts. Note also the account may be under Islamic banking system wherein paying and receiving interest (riba) may be haram (not lawful) so maybe it's not "interest" as we in the West understand it, there may be some shared risk between lender and borrower to make the situation halal. But you may already know about that. Also, there may be withholding tax in that country so you'd want to check out the tax situation, existence of a tax treaty, reciprocal agreements, etc. In any event, make sure to do your due diligence to reduce the risk of this ending up to be a bad call.