Economy, Business And Markets

Bank Guarantees for Exporters to Oman

Bank Guarantees for Exporters  to OmanBank Guarantees for Exporters  to Oman

Bank Melli Iran has started offering bank guarantees for exporters of engineering services to Oman through its branch in Muscat. BMI’s guarantees are offered at 0.05%, in line with the government’s plans to support exporters of engineering services, Iran-Oman Chamber of Commerce announced on its website on Tuesday.  Exporters are allowed to sell their revenues in foreign currencies to both BMI and Bank Melli Exchange Brokerage Company, at the market rate. Besides, the Muscat branch of the bank make it possible for traders and investors to transfer and sell Omani rial, based on the legal framework. The bank also offers letters of credit for imports from Oman.