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Iran's policy to return export revenues resulted in problems for exporters

Business Materials 7 December 2020 11:07 (UTC +04:00)
Iran's policy to return export revenues resulted in problems for exporters

TEHRAN, Iran, Dec.7

Trend:

Iranian government's policy of returning export foreign currency revenue created problems for exporters, said the head of Chamber of Commerce in Ardabil Province.

"The government's policies on export have forced exporters to return non-oil export foreign currency revenues back to the NIMA system, despite sanctions against banking transactions, but in such situation, exporters don't have such capacities," Behrouz Soleyman told Trend in an interview.

"The Central Bank of Iran has recently created advances that helped increase exports considerably, with the foreign currency rate of 250,000 rial per USD dollar export could have grown and in this situation everything had the capacity to be exported, but we did not reach the necessary outlook in export due to the Central Bank's preventive policies," he said.

"This forced exporters to return revenues to the NIMA system," Soleyman said.

"The government have forced exporters that were exporting goods to Central Asia, Iraq and Afghanistan to return foreign currency revenues to the NIMA system," he said.

"The Central Bank of Iran allowed exporters to use their export revenues and imports that caused considering increase in Iran's export," he said.

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