Iran's central bank unveils online forex system

29.04.18

The Central Bank of Iran (CBI) launched its Forex Management Integrated System, locally known as NIMA, in a bid to address the country's currency needs, boost transparency, create competitiveness among exchange shops and a secure environment for traders.

In this system, locally known by the acronym Nima, importers declare their currency needs, exporters–including the government as oil exporter–register their foreign currency proceeds, and banks and money exchangers act as mediators. (IRNA)