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 GoKish -> News -> We have no limitations for foreign currency transfers
We have no limitations for foreign currency transfers
The Export Development Bank Kish Branch Manager said: "This bank has no limitations for international activities, opening L/Cs, and transferring foreign currency in Kish Free Zone". In an interview with IRNA on Tuesday, Mohammad Ali Monafzadeh added: "At present, a large percentage of foreign currency transfers in the country take place through the Export Development Bank of Iran in this free zone". He stated: "Foreign currency transfer services, opening L/Cs, and issuing guarantees for its customers take place at this bank as previously". In answer to a question about opening import L/Cs at the Kish Branch, he said: "Following credit evaluations, the bank is currently opening required L/Cs for the import of raw materials and permitted goods". Regarding a drop in banking facilities interest rates at the bank, Monafzadeh said: "These interest rates have dropped 3-4% in KFZ during the current year". He added: "Last year, interest rates at this bank were 16% for exports, 17% for industry and mines, and 18% for commerce and services. This dropped to 12% for exports, 14% for industry and mines and 15% for commerce and services. He said the priority for banking facilities lies with exports and added: "The Export Development Bank of Iran in the Free Trade-Industrial Zones is ready to accept and study applications for banking facilities in commerce, services, and industry". Monafzadeh stated: "With the direct effect of interest rates on the finished price of goods and services, a drop in these rates will benefit the bank, economy and the prosperity of the Free Trade-Industrial Zones of the country.
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