Business And Markets

Iran: €5b Repatriated by Non-Oil Exporters

Iran: €5b Repatriated by Non-Oil ExportersIran: €5b Repatriated by Non-Oil Exporters

Exporters of non-oil products have repatriated €5 billion of their export earnings to the economic cycle of the country since the beginning of the current fiscal year (started March 21), a Central Bank of Iran’s official said. 
“Of this amount, €1 billion pertained to products exported by small- and medium-sized companies,” Samad Karimi, the head of CBI's Exports Department, was also quoted as saying by IRIB News.  
Speaking on the sidelines of a meeting with private sector representatives, the official noted that since the launch of the Integrated Forex Deals System (locally known by its Persian acronym Nima) in the last fiscal year (March 2018-19), a total of €18 billion worth of non-oil export earnings have been repatriated to the country.  


Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment