Minister: Iran Banks Successful In Money Transfer Despite Sanctions

Tehran, July 21, IRNA – Minister of Economic Affairs and Finance Shamseddin Hosseini said on Saturday that sanctions on Iranian Central Bank created difficulty for the banking system to transfer money, but, the Bank of Export Development of Iran is successful in doing the job. ˈEnemy has created difficulty for the banking system so that money transfer and exchange even in a friendly country has become somewhat difficult,ˈ said Hosseini in a meeting with members of the General Assembly of the Bank of Export Development of Iran. Hosseini expressed pleasure with Iranian economic progress and said that Iranian economy is progressing, notably in the export sector. He added that the gap between non-oil exports and imports has narrowed down and in some periods, especially in the first three months of the year, export of goods exceeded the imports. For his part, Governor of the Export Development Bank of Iran Bahman Vakili said the only way to foil sanctions is available to banks and despite sanctions, Iranian banks acted well in helping international trade with Iran. Vakili said export of non-oil commodities, including gas condensates, rose up about six-fold, reaching $215 billion over the past eight years, as export of non-oil commodities rose up by 22 percent./end