Exporters decry Iran’s CB inaction over forex repatriation rules

Financial Tribune – Central Bank of Iran’s conditions on non-oil exporters to repatriate their currency earnings has been criticized yet again by exporting countries after they reportedly received export ban warnings from lenders.

While officials have commended the performance of non-oil exporters and expressed satisfaction about the repatriated earnings, some exporters say CBI repatriation rules are too stringent and that it has done too little to pave the way for exporting firms to return their overseas income.

Many lament that they can’t bring their earnings back to simply because there is no banking channel to do so

“We have exported to many countries but due to the banking sanctions, we cannot bring the money back home,” said Hale Ahmadifar, a member of Tehran Chamber of Commerce, Industries, Mines and Agriculture.