Committee to Scrutinize Delays in Export Revenue Repatriation

Mohammad Reza Farzin, the governor of the Central Bank of Iran, announced the formation of a special committee at the CBI to look into delays in the repatriation of foreign exchange revenue by exporters. 
“The committee will work on three types of violations: the first is the failure to fulfill forex commitments – those who have not returned their overseas export earnings on time,” Farzin told reporters on Wednesday. 
Regulations oblige especially petrochemical exporters to return at least 60% of their revenue through Nima, the platform where exporters sell their currency earnings to importers of non-essential goods, whereas non-petrochemical exporters must return 50% of their currency.