Home / News/ Iran’s ¤ 14.4 million in blocked assets in Sri Lanka released

Iran’s ¤ 14.4 million in blocked assets in Sri Lanka released


Comments / {{hitsCtrl.values.hits}} Views / Tuesday, 12 September 2017 00:04


Iran yesterday announced that its € 14.4 million worth of foreign exchange assets in Sri Lanka have been released after the Joint Comprehensive Plan of Action (JCPOA) agreement.

The Head of the Financial Security and International Investment Department of the Iran Export Development Bank (IEDB) Kamran Rezvani said that after the JCPOA, € 22.3 million worth of Iranian foreign exchange assets in Sri Lanka and Cuba were released.

Rezvani said the preliminary steps for payment of the resources were made following frequent visits in the post-JCPOA era, IRNA reported.

He said that on the first leg, € 8 million out of the blocked assets were released in Cuba and € 14.4 million more have been freed in Sri Lanka.

He added that had the resources not been released, the damages should have been paid out of the resources of the Export Guarantee Fund and it would have definitely negatively affected the capability of the bank to pay damages.


Share This Article


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

To hang or not to hang!

Tuesday, 17 July 2018

President Maithripala Sirisena dropped a bombshell out of the blues last week, sans all ‘maître’ (loving-kindness) when he launched a coup de main on drug offenders. He threatened to use his powers to place his signature to execute the death sen


The demise of the superstar investor

Tuesday, 17 July 2018

The allure of the superstar investor can be irresistible. You know who they are – the confident, articulate individuals idolised either because of a spectacular non-consensus investment call, the size of their fortune or sometimes because they are


Disruptive economy and poverty of knowledge: Sri Lankans have a lot to learn

Monday, 16 July 2018

The poor are usually defined as those who are below a given level of income that would be insufficient to meet their basic needs. In my view, the poor – no matter whether it is an individual, family or a nation – are those who are unable to read


National prosperity through quality and productivity

Monday, 16 July 2018

I was so delighted to get involved with the national convention of the Sri Lanka Association for the Advancement of Quality and Productivity (SLAAQP) with the fitting theme, “National Prosperity through World Class Quality and Productivity”.


Columnists More