E-Checks Could Pose Challenges

November 18, 2020
banking

G iven the widespread use of checks in Iranian trade and transactions, the Central Bank of Iran will likely face a tough time in getting people accustomed to changes in the check issuing system, the CBI's deputy for payment systems said.

The CBI plans to unveil electronic checks to substitute the conventional paper checks from this weekend as part of the amendment to the Check Issuance Law.

'The CBI has two tasks with regard to digitizing checks: first launching the e-check system and second the transition from physical checks,' Davoud Mohamad-Baigi was quoted as saying by the CBI public relations office.

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