Business And Markets

Exporters and Government Caught in the Crosshairs

Exporters and Government Caught in the CrosshairsExporters and Government Caught in the Crosshairs

Head of the Tehran Chamber of Commerce, Industries, Mines and Agriculture again faulted stringent CBI rules that govern the repatriation of export earnings.  
In a meeting with chamber members on Tuesday, Masoud Khansari pointed to three flaws with the controversial earnings’ repatriation rules. 
Firstly, the rules oblige exporters to bring back earnings within four months from the date of export. “Our proposal was to extend the timeline to six months. Revenue repatriation takes time,” he was quoted as saying by IRIB news. 
Due to the US economic sanctions export companies are finding it increasingly difficult (impossible) to bring their money back home via banks because most foreign financial institutions, fearing Donald Trump’s wrath, refuse to handle Iranian transactions. 


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