Iran's Central Bank to Supply Tour Firms With Foreign Exchange

The CBI has said that tour operators will have no trouble obtaining the foreign exchange needed for their transactions
Tour companies need a letter of approval from ICHHTO to apply for foreign exchange. Tour companies need a letter of approval from ICHHTO to apply for foreign exchange.
Travel services for outbound tourists had been excluded from the list of priorities for foreign currency allocation

Following complaints about the exclusion of travel services from the list of priorities for foreign exchange allocation, the Central Bank of Iran has pledged in a verbal announcement that tour operators will be provided with foreign currency through drafts. 
According to Hormatollah Rafiei, head of the Travel Agents Guild Association, CBI forex deputy Ahmad Araqchi has said travel agents that conduct foreign exchange transactions will have no problem in obtaining their required currency and a credit line has even been set up for the purpose. 
"However, like other sectors in the list of priorities, these businesses need to have a letter of approval from their authority, i.e. Iran's Cultural Heritage, Handicrafts and Tourism Organization," Rafiei quoted Araqchi as saying in a talk to ISNA. 
The official added that no official directive regarding the case has been issued yet, but the CBI has reportedly admitted that there are forex challenges in the tourism sector and has come to agreement with the ICHHTO to address the problem. 
After the introduction of the new forex strategy, 11 sets of regulations were issued by the CBI to outline the details of the policy.  One of the guidelines determined 33 groups as eligible to receive foreign currency, including outbound tourists and select companies operating hajj and pilgrimage tours. 
However, conducting tours to other international destinations was surprisingly left out, raising widespread criticism by tour operators who found themselves on the brink of bankruptcy. 


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