Domestic Economy
0

Iran's EGFI Expands Operations to Support Regional Trade

EGFI will help exporters receive their foreign currency incomes that, coupled with endeavors to increasingly issue guarantees required by exporters, will mean that the fund will effectively replace banks in trade transactions
Iran's EGFI Expands Operations to Support Regional TradeIran'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.

Premium

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

Financialtribune.com