CBI warns exporters of name-and-shame path

Financial Tribune – The Central Bank of Iran issued an ultimatum on Sunday to non-oil exporters to expedite repatriation of their overseas earnings. If they fail to comply their names will be made public through the media.

In a notice published on its website, the CBI said it will reveal the names of exporters of goods and services who refuse to repatriate their earnings over the past two years.

“The public should be informed about those who for personal gain impose hefty costs on the society by creating turmoil in the currency market,” the CBI said. It was an explicit warning to exporters who do not meet their forex commitments and have created a supply crunch in the currency market pushing up prices to levels never seen before.