CBI Wants to Keep Assets Overseas
Economy, Business And Markets

CBI Wants to Keep Assets Overseas

Gholamali Kamyab, deputy chief of the Central Bank of Iran for foreign exchange affairs says the preference is to receive the freed assets from overseas in installments to avoid inflationary impact.
“Receiving the total amount (hard currency) in a lump sum will generate inflation as it will have to be changed into the local currency that will increase the money base,” he said in an interview with ISNA.
CBI prefers to retain much of the assets broad for investment purposes, he said without elaboration.
The senior official noted that Iran’s foreign exchange reserves declined due to the extended period of sanctions but ‘the overall situation is satisfactory.”
He pointed to the lifting of sanctions on Iran’s crude oil exports saying that this would help replenish the forex resources and reserves. “Foreign exchange resources are sufficient for supporting the rial and for imports.”

 More Clarity
In a meeting with banks’ international reps he said the banking sector is to provide the CBI with a daily report on the number of transactions, trade and  letters of credit issued in move to help improve transparency.
“Some foreign banks might initially hesitate to resume their relations with Iran, but operations should not be interrupted,” he said. CBI intends to quicken the process of opening L/Cs, according to the official. “ L/Cs can be issued by any bank and in any foreign currency.” 

Short URL : http://goo.gl/G4aenb
  1. http://goo.gl/8XMDa2
  • http://goo.gl/Yblj9j
  • http://goo.gl/n72r3B
  • http://goo.gl/dBF6X8
  • http://goo.gl/2MB1xF

You can also read ...

Alcatel’s Android Go Cellphone in the Offing
Two of the phones Alcatel revealed last month will be coming...
NASA Seeks Help to Check Satellites
NASA is asking all cloud gazers to snap photos of the sky and...
Iran has signed a contract with China Railway Group Limited in 2015 to build a 415-km (260-mile) high-speed north-south rail line between Tehran and Isfahan via Qom.
The Economy Ministry sold 2 trillion rials ($41.6 million) of...
Trade With Afghanistan Tops $2b
Iran and Afghanistan exchanged 5.32 million tons of non-oil...
Iran-Lithuania Trade Falls 44% in 2017
Trade between Iran and Lithuania stood at more than €11.1...
Banque Delubac Ready to Service Iranian Businesses
Executives with Banque Delubac and Cie, an independent French...
Gov’t, Workers, Employers Deadlocked in Setting Minimum Wage
With only a day left for the Supreme Labor Council to set the...
Golestan’s Exports Earn Over $180m
About 240,000 tons of commodities worth $184 million have been...