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NIMA system - headache for both Iran's sellers and buyers

Finance Materials 15 January 2019 17:47 (UTC +04:00)

Tehran, Iran, Jan.15

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Iran's exporters are facing various problems in returning the exports revenues to the country's Integrated System for Hard Currency Transactions (NIMA).

"The exporters have problems in exporting goods and returning the foreign currency revenues to the NIMA system since the foreign customers do not know the system," said the Chairman of Iran-China Joint Chamber of Commerce Assadollah Asgaroladi, Trend reports citing Mehr News Agency.

"To transfer money for the purchased Iranian goods, foreign buyers demand exporters to introduce an approvable bank for this purpose, but the NIMA system is not a bank and it is only an exchange platform for the Central Bank of Iran(CBI)."

"The exports are moving towards shut down. According to predictions, spring will be a hard season for Iran's economy therefore in regard to exports the Chamber of Commerce should hold meeting sessions with the Governor of CBI to solve the problems," he added.

The Central Bank of Iran (CBI), has started the Integrated System for Hard Currency Transactions (NIMA) to register the currency revenues from the exports and supply of foreign currency to importers.

"The Central Bank of Iran should precisely explain the functions of the NIMA system to exporters, otherwise working like this would be impossible," said Asgaroladi.

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