Iranian Central Bank to encourage exporters

Baku, Azerbaijan, Feb. 14

By Elnur Baghishov - Trend:

The Central Bank of Iran has made a decision to encourage exporters, Trend reports with reference to the bank’s website.

The bank’s policy committee on the return of foreign currency obtained from exports made a number of decisions for the return of foreign currency to Iran’s economic turnover.

Group of exporters

Export value below 1 million euros

Export value is 1-3 million euros

Export value is 3-10 million euros

Export value over 10 million euros

Exporters that fulfilled their commitments by over 60%

Can sell foreign currency to currency exchange offices

Can import products with money obtained from exports

Can sell foreign currency worth no more than 1.5 million euros to currency exchange offices

Should sell 40% of foreign currency to Forex Management Integrated System (locally known as NIMA)

Can import products with remaining money obtained from exports

Can sell foreign currency worth no more than 2 million euros to currency exchange offices

Should sell 40% of foreign currency to NIMA

Can import products with remaining money obtained from exports

Can sell foreign currency worth no more than 4 million euros to currency exchange offices

Should sell 70% of foreign currency to NIMA

Can import products with remaining money obtained from exports

Exporters that fulfilled their commitments by 30-60% (have agreement with Central Bank of Iran)

Can sell foreign currency to currency exchange offices

Can import products with money obtained from exports

Can sell foreign currency worth no more than 1.5 million euros to currency exchange offices

Should sell 45% of foreign currency to NIMA

Can import products with remaining money obtained from exports

Can sell foreign currency worth no more than 2 million euros to currency exchange offices

Should sell 55% of foreign currency to NIMA

Can import products with remaining money obtained from exports

Can sell foreign currency worth no more than 2 million euros to currency exchange offices

Should sell 80% of foreign currency to NIMA

Can import products with remaining money obtained from exports

Exporters that fulfilled their commitments by less than 30%

Can sell foreign currency to currency exchange offices

Can import products with money obtained from exports

Can sell foreign currency worth no more than 1 million euros to currency exchange offices

Should sell 50% of foreign currency to NIMA

Can import products with remaining money obtained from exports

Can sell foreign currency worth no more than 2 million euros to currency exchange offices

Should sell 70% of foreign currency to NIMA

Can import products with remaining money obtained from exports

Can sell foreign currency worth no more than 2 million euros to currency exchange offices

Should sell 90% of foreign currency to NIMA

Can import products with remaining money obtained from exports

Exporters that didn’t return foreign currency to economic turnover

Central Bank of Iran must report about these exporters to judiciary in short time

This decision is valid until March 21, 2019.

The priority of the Central Bank of Iran will include exporters who return 60 percent of the earned foreign currency to the economic turnover in accordance with the previous decisions in case if they need foreign currency.

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