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Iran Central Bank rejects halting trade with UAE in dirham

Source: ISNA

Iranian Central Bank dismissed reports that the county has halted trade exchanges with the UAE in dirham. The Central Bank rejected the smear campaign about ban on opening letter of credit for imports from the UAE and halting trade exchanges with the UAE in dirham.

Central Bank of Iran
Central Bank of Iran

The Central bank noted Iran's transaction with UAE continues as it did over previous years under the framework of the protecting national interests. The organization stressed opening letter of credit for imports from the UAE was not stopped and that the problems are being resolved.

Registration of orders from the UAE in Iran shows the two countries are continuing trade exchanges, said the Chairman of Iran-UAE Business Council Massoud Daneshmand, adding there may be some problems on opening letter of credit, but the trade criterion for Iran and the UAE is order registration.

He said problems were resulted from banking system, adding Iranian Central Bank's assets are in forms of euro and dollars and there will be some problems when the currencies are transferred to the UAE banks and changed to dirham.

He reiterated that trade exchanges between the two countries are underway.

Daneshmand said Wednesday the problem of goods register order from the UAE to Iran was resolved.

"The issue related to goods register order from the UAE to Iran lasted for 24 hours due to technical problems, but it was resolved Tuesday night," he had told ISNA.

He added a technical problem in Iran's Trade Development Organization (ITDO) computer system was source of the issue.

Also Iranian Foreign Ministry Spokesman Ramin Mehmanparast had dismissed reports on halting trade relations with the UAE.

Mehmanparast said the Iranian Industry, Mines and Commerce Ministry's order registration website was down on Tuesday due to technical problems and the relevant minister has not have any interview in this regard.

Daneshmand had said Iran has never sought halting trade ties with any country and it has trade relations with the US despite its obstructionism.

Related Report: Iran bans opening LCs for UAE imports

... Payvand News - 12/24/11 ... --

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