Online Forex System for Knowledge-Based Firms

The Central Bank of Iran has established an exclusive online system to allocate foreign currencies at cheap government rates to innovative and knowledge-based firms in collaboration with the Presidential Office’s Department of Science and Technology.
“Foreign exchange rate hikes and recent currency troubles in the country have certainly created problems for startups and knowledge-based firms that require foreign currencies to purchase equipment or work with foreign partners,” Sorena Sattari, vice president for science and technology, told IBENA.
“This issue is evident in the modern ecosystem of major companies and that is why the Presidential Office’s Department of Science and Technology held negotiations with the central bank and created a direct system to alleviate currency problems for these companies that has had suitable achievements so far,” he elaborated on reasons behind the move.