CBI Import Allocations Rise on Growing Banking Ties

The Central Bank of Iran allocated $48 billion in hard currency for imports during the last fiscal year that ended on March 20, 2018, according to its governor, who put it down to new openings in banking ties with other countries.
“CBI allocated $48 billion for import of goods and services during the previous year, which indicates a significant rise compared with $39 billion of the year before,” Valiollah Seif was also quoted as saying by the official website of CBI.
The latest CBI report on correspondent banking relations published in mid-February to mark the 39th anniversary of the Islamic Revolution indicated that by Jan. 20, Iranian banks had established 818 correspondent banking relations with 284 foreign peers.
Iran has recently made efforts to accentuate the role of its banking sector in processing the country’s import orders.