ECONOMY   Banks   Investment  

Over €1.5b of non-oil income injected to NIMA in a month

Iran’s non-oil exporters injected €1.5 billion of their revenues into the Forex Management Integrated System, locally known as NIMA, during the fifth Iranian calendar month Mordad (July 22-August 21).

As stated by Hamid Zadboum, the head of Iran’s Trade Promotion Organization (TPO), expediting the process of returning non-oil export revenues to the economic cycle through NIMA has been the result of expert policies of the TPO and cooperation among the industry, mining, and trade departments of the provinces as well as chambers of cooperatives and guilds, and many fruitful measures have been taken in this regard.

NIMA, which seeks to boost transparency, creates competitiveness among exchange shops and promotes a secure environment for traders, is a new chance for importers to supply their required foreign currency without specific problems and for exporters to re-inject their earned foreign currency to domestic forex market. It was inaugurated to allow exporters of non-oil commodities to sell their foreign currency earnings to importers of consumer products.

In late May 2019, the Central Bank of Iran (CBI) unveiled a directive package that provided the country’s exporters with guidelines about how they should re-inject their foreign currency incomes into the country’s economy.

Based on the new directive, for the petrochemical sector, the exporters should present at least 60 percent of their foreign currency incomes into 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 of 20 percent could be distributed in form of hard currency and the rest can be used for imports.

The instructions aimed to lead the export revenues from the non-oil exports back into the country’s economy through NIMA, mandate all the exporters of goods and services to guarantee to bring back to the country the foreign currency amount allocated to them by the government at lower prices than the free market.

News No: 9880
Date: 2020/09/22 - 22:03
News Source: TehranTimes

Central Bank of Iran  NIMA  Trade Promotion Organization  Hamid Zadboum 


Leave a Comment:


2nd part of govt. support package for non-oil exports to be implemented

Head of Iran’s Trade Promotion Organization (TPO) announced the implementation of the second part of the government’s support package for non-oil export in near future, TPO portal reported.

Over $5b supplied for import of basic goods in 6 months

Central Bank of Iran (CBI) has managed to supply $5.267 billion for importing basic commodities in the first six months of the current Iranian calendar year (began on March 20), IRIB reported.

Housing price in Tehran rises 5.1% in a month

Housing price in Tehran city has risen 5.1 percent in the sixth Iranian calendar month (August 22-September 21), from its previous month, according to the latest report released by the Central Bank of Iran (CBI).

Inflation rate of 22% targeted

The budget plan for the next Iranian calendar year (starts on March 21, 2021) instructed to the executive bodies has targeted an inflation rate of 22 percent.

TPO to announce Iran’s top exporters of year

Iran’s Trade Promotion Organization (TPO) has finished the process of evaluating the country’s top exporting companies in the previous Iranian calendar year (ended on March 19) and 50 top companies, as well as six excellent ones, have been selected, TPO Head Hamid Zadboum announced.

Inflation rate rises 0.2%: SCI

The Statistical Center of Iran (SCI) announced that the inflation rate in the twelve-month period ended on September 21, which marks the end of the sixth Iranian calendar month of Shahrivar, stood at 26 percent.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners