Bank Melli to Begin Exchange Transfers for Iranian Expatriates

Gholam–Reza Panahi, the deputy governor for currency affairs at the Bank Melli of Iran (BMI), said that the bank is ready to receive foreign exchange transfers from Iranian expatriates through its foreign branches or subsidiaries.

It will also be able to provide services including: the opening of foreign currency accounts at the request of payment order holders, and disbursing appropriate foreign currency interest payments; the receipt of payment orders; the issuing of payment orders; the purchasing of payment order funds; transfers to third parties; the opening of letters of credit (LCs); and a variety of banking services across the country.

He commented that using BMI transfer channels would be a relief for customers, providing them with a secure way to transfer their funds while also allowing them to reduce banking expenses and benefit from various other banking services.