Exporters highly Welcome Currency Purchase at BMI Branches abroad

Wednesday, January 03, 2018
Bank Melli Iran (BMI) Board Member and Deputy Chairman in International Affairs, Gholamreza Panahi, said; "some branches of Bank Melli Iran abroad buy foreign currency from exporters at daily rate which's been highly welcomed."
Panahi in a meeting with Public Relations Dept. of this bank highlighted the possibility of purchasing proceeds originated from export trades at some branches abroad and added; "In international arena, our brokerage relations with other countries are improving steadily. Also, the growing trend of international banking measures of this bank to customers has been multiplied compared to the past years."

He restated; "Recently, BMI units abroad have been involved in purchasing foreign currency earned from export deals including Mir Business Bank in Russia, Iraq based branches, Paris and Hamburg."

Panahi emphasized that in this service, funds to an exporting entity can be paid to exporters easily. He continued his saying that exporters can ask the buyers to deposit currencies with BMI branches and sell to the bank according to market rates.

The Board Member emphasized; "The foreign currency purchase statistics in our branches show this service is highly welcomed by exporters due to banks involvement and safe process of foreign currency entry to the country as well as providng Rial equivalence of these funds according to market rates."        

He stated; "Also, other services such as opening of documentary credits, issuing payment orders for importers, patients or people whose children live abroad are available."

Highlighting services of Paris and London branches especially in the area of financing some deferred letters of credits, Panahi said; "These branches have recently started financing deferred letters of credit to make importing easier. The applicants of this service can pay their beneficiaries and then receive their money from the bank that's issued the credit at maturity."


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