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On Currency Repatriation Rules MRC Asks Gov’t to Rethink Policy

On Currency Repatriation Rules MRC Asks Gov’t to Rethink PolicyOn Currency Repatriation Rules MRC Asks Gov’t to Rethink Policy

The Majlis Research Center holds the view that the government can significantly boost its foreign currency earnings by rewriting the Central Bank of Iran’s controversial policy on repatriating currency earnings from non-oil exports. 
The research arm of the parliament took stock of the complaints of exporters and the hurdles they encounter in relation to currency repatriation rules. 
Data has it that of the $44 billion worth of goods exported in the last fiscal (March 2018-19), only $20 billion was repatriated. The MRC says the figure can be doubled. 
The main snag in implementing currency repatriation rules is the aversion of exporters to sell their overseas earnings via Nima (Persian acronym for Integrated Forex Deals system). 

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