Economy, Business And Markets

CBI Seeks Collaboration with IRICA

CBI Seeks Collaboration with IRICACBI Seeks Collaboration with IRICA

Governor of the Central Bank of Iran Valiollah Seif acclaimed the launch of ‘’Electronic Customs System’’ designed by the Islamic Republic of Iran Customs Administration, a move he hopes will end up boosting the country’s business environment and business ranking. “The online system is expected to prevent corruption and increase efficiency and productivity as it would provide transparent data and prevent waste of resources,” Banker news website reported on Wednesday, citing Seif. As the system integrates import-export data, the central bank can take advantage of the information to better monitor total import and export, according to the CBI governor. “In exchange, IRICA can utilize CBI’s facilities to link banks into the network to facilitate financial operations,” Seif added.