Iran's EGFI Expands Operations to Support Regional Trade

As reimposed US sanctions restrict Iranian banks, the Export Guarantee Fund of Iran is set to expand operations to better support the country's exports, especially with regional partners.
"EGFI is set to play a more accentuated role in alleviating problems facing Iranian traders," the EGFI chief, Seyyed Kamal Seyyed Ali, was quoted as saying by the official news website of Tehran Chamber of Commerce, Industries, Mines and Agriculture.
First and foremost, the official explained, EGFI will help exporters receive their foreign currency incomes that, coupled with its endeavors to increasingly issue guarantees required by exporters, will mean that the fund will effectively replace banks in trade transactions.