Economy, Business And Markets

EGFI Looking to Raise Exports

EGFI Looking to Raise ExportsEGFI Looking to Raise Exports

Banks must further help exporters and investors as the banking sector plays a central role in the development of non-oil exports, CEO of the Export Guarantee Fund of Iran, Taher Shah-Hamed said.  Currently however, banks do not support exporters and financial facilities are insufficient in this regard.  At a ceremony in which a Memorandum of Understanding (MoU) was signed between the EGFI and Ansar Bank, the official said that with EGFI’s support, private, quasi-private, and state-owned lenders could channel part of their resources towards boosting exports.  Through signing such MoUs, the EGFI hopes that the National Development Fund of Iran would also support exports by providing financial assistance.  Also, according to the MoU, certain branches of Ansar Bank shall be required to hold informative seminars and educational workshops and also release public announcements for customers whenever necessary about the bank’s offered services.