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Central Bank of Iran to ease return of foreign currency revenues from exports

Finance Materials 17 November 2018 14:24

Tehran, Iran, Nov.17

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The Governor of the Central Bank of Iran Abdolnaser Hemmati, has promised to facilitate the return of foreign currency revenues from exports, back to the country.

"It’s natural that due to unfair sanctions, the return of foreign currency revenues of the exports to the country, faces complication and problems. The CBI will consider the rules and regulations to provide necessary adjustments in this area,", Hemmati's message on his Instagram account said.

"The promise to return the foreign currency revenues back to economy will include a combination of different methods of supplying currency to the Integrated System for Hard Currency Transactions (NIMA) or to insert currency in the form of payment order and banknotes to currency exchange agencies or importing order registrations. Certainly other solutions will be considered as capital outflow is contrary to economic development of the country," he added.

"After discussing the issue with the financial experts in the private sector, the CBI has adopted certain directives to ease the process for the exporters that will lead to return of foreign currency revenues of exports to the country's economy. The estimated revenue in this year will be $47 billion. We expect the cooperation between exporters, the CBI and the government. Our actions, including exporters in these turbulent time, will be judged by the people," he noted.

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