BMI Raises Cap for Forex Payment Orders
BMI Raises Cap for Forex Payment Orders

BMI Raises Cap for Forex Payment Orders

BMI Raises Cap for Forex Payment Orders

Bank Melli Iran has more than doubled the ceiling for its non-commercial foreign exchange payment orders to €5,000 ($5,866) from the previous €2,000 ($2,347) per person. According to the new measure, the cap for each branch issuing payment orders has also risen from €40,000 ($46,931) to €60,000 ($70,400) per day. Following the 2015 nuclear deal, BMI has expanded its presence in the international banking system and reestablished correspondent relations with foreigner counterparts. In the first 10 months of the last fiscal year (started March 20, 2016), the bank had issued 2.6 times as many payment orders, registering an increase of 1.9 times compared with the previous year. BMI is the largest commercial bank of Iran with over 3,300 domestic branches and 43,000 employees. The lender has 14 branches overseas and is planning to open a branch each in the holy cities of Najaf and Karbala.


Short URL : https://goo.gl/8A7SVC
  1. https://goo.gl/WNBcRp
  • https://goo.gl/ezxhmZ
  • https://goo.gl/WSNUpa
  • https://goo.gl/LXA7wQ
  • https://goo.gl/PTQSsP

You can also read ...

Iran is the world’s biggest saffron producer and accounts for more than 90% of the global production.
Iran Mercantile Exchange launched saffron futures trading for...
Tesla Admits Model 3 Braking Issue, Promises Fix
Tesla Inc’s Chief Executive Officer Elon Musk admitted on...
Uber Plans Taxi-Hailing  in Japan
Uber Technologies plans to launch its first taxi-hailing pilot...
German firms, especially those without business links to the US, want to continue their Iran business.
While Germany’s big banks are studiously avoiding Iran-related...
New Rules Allow  Direct Forex Sale
Businesspeople that have validated their purchase orders are...
Iran Khodro Expanding Presence in Iraqi Market
Iran’s largest carmaker, Iran Khodro, is set to export 6,000...
19 Gov’t Assets Up for Privatization
The third month of the current fiscal year (May 22-June 21)...
Prices have been jacked up by car dealers and some makers by 6-22% only in the past few weeks.
Authorities are set to ratify new car prices for models...

Add new comment

Read our comment policy before posting your viewpoints