Economy, Business And Markets

CBI Moves Assets

CBI Moves AssetsCBI Moves Assets

Valiollah Seif, Central Bank of Iran’s governor said on Tuesday Iran has transferred some of its freed assets from banks in Japan and South Korea to other banks in Germany and the UAE.

“CBI has successfully transferred some of its assets to ensure that financial sanctions have been fully lifted in accordance with the historic nuclear deal,” IRIB quoted him as saying on the sidelines of an event to review the economic opportunities in that post-sanctions era. The amount of the transfers was not known.

Tehran regained tens of billions of dollars blocked overseas after the nuclear deal with P5+1 came into effect at the weekend effectively ending the decade-plus international economic and banking sanctions.

Seif did not mention the amount of the transferred funds. Earlier he had said that out of $32 billion of the unfrozen funds, $28 million belongs to the CBI and the rest to the government.

Referring to calls by economists and businesses leaders to unify foreign exchange rates, he suggested that that could be possible in the next six months.

“The CBI wants a stable forex market and favors currency rates that would be friendly to creating employment, boosting manufacturing and improving exports.”