Iran exports revenues Archives - Iran News Daily https://irannewsdaily.com/tag/iran-exports-revenues/ Tue, 13 Oct 2020 04:52:42 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.4 https://irannewsdaily.com/wp-content/uploads/2020/04/cropped-iranlogo-32x32.png Iran exports revenues Archives - Iran News Daily https://irannewsdaily.com/tag/iran-exports-revenues/ 32 32 Iraq to Release Iran Exports Revenues: CBI https://irannewsdaily.com/2020/10/iraq-to-release-iran-exports-revenues-cbi/ https://irannewsdaily.com/2020/10/iraq-to-release-iran-exports-revenues-cbi/#respond Tue, 13 Oct 2020 04:52:42 +0000 https://irannewsdaily.com/?p=119963 TEHRAN (Iran News) – The Trade Bank of Iraq (TBI) has agreed to release Iran’s exports revenues and financial resources accumulated in the Iraqi banks, the governor of Central Bank of Iran (CBI), currently in Iraq, said on Monday. Abdolnaser Hemmati said the announcement was made during a trilateral meeting with governors of the Iraqi […]

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]]> TEHRAN (Iran News) – The Trade Bank of Iraq (TBI) has agreed to release Iran’s exports revenues and financial resources accumulated in the Iraqi banks, the governor of Central Bank of Iran (CBI), currently in Iraq, said on Monday.

Abdolnaser Hemmati said the announcement was made during a trilateral meeting with governors of the Iraqi Central Bank Ghalib Makhif and the Governor of the Iraqi Trade Bank Salem Jawad Abdul Hadi Al-Jalabi in Baghdad, Mehr News Agency (MNA) reported.

He added the assets are to be used for purchasing basic goods to supply the need of the Iranians demands which are exempted from oppressive and unilateral US sanctions.

Hemmati added that in the meeting, constructive negotiations have been held between the sides.

He added Prime Minister of Iraq Mustafa Al-Kadhimi has expressed content about the accorded agreement. Hemmati said that the Iraqi PM has vowed to weekly follow up on the implementation of the agreement.

As the CBI governor explained, Tehran has huge financial resources in Iraqi banks due to its exports of electricity and gas to Iraq.

Hemmati expressed hope that the made agreement would end into taking positive steps in developing economic and banking relations with Iraq and the expansion of mutual banking and economic relations.

Heading a high-ranking banking and business delegation, Hemmati arrived in Baghdad Monday morning on a one-day visit to meet with senior Iraqi officials, including the prime minister and Minister of Finance Ali Abdul Amir Allawi and the country’s banking officials.

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]]> https://irannewsdaily.com/2020/10/iraq-to-release-iran-exports-revenues-cbi/feed/ 0 Industry ministry unveils directive on re-injection of export income https://irannewsdaily.com/2019/06/industry-ministry-unveils-directive-on-re-injection-of-export-income/ https://irannewsdaily.com/2019/06/industry-ministry-unveils-directive-on-re-injection-of-export-income/#respond Sat, 22 Jun 2019 07:30:47 +0000 https://irannewsdaily.com/?p=94837 Based on the new directive, for the petrochemical sector, the exporters should present at least 60 percent of their foreign currency incomes into the domestic Forex Management Integrated System (locally known as NIMA), and a maximum 10 percent could be injected into the financial system in the form of hard currency and the rest could […]

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]]> Based on the new directive, for the petrochemical sector, the exporters should present at least 60 percent of their foreign currency incomes into the domestic Forex Management Integrated System (locally known as NIMA), and a maximum 10 percent could be injected into the financial system in the form of hard currency and the rest could be used for importing necessary goods.

As for other exporters, at least 50 percent of the total earnings should be presented at the NIMA system and a maximum 20 percent could be distributed in form of hard currency and the rest can be used for imports.

In early May, the CBI Governor Abdolnaser Hemmati said that so far the country’s exporters have re-injected 60 percent of their total exports revenues in the form of foreign currency into the country’s financial system.

Hemmati noted that last year some $18.7 billion of foreign currency was returned into the country’s financial system by the exporters.

Iran provides foreign currency for the country’s exporters with significantly low exchange rates and the exporters are obliged to return the equivalent of the supplied fund in the form of foreign currency.

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