While the infrastructure for money transfer with USSD codes were quickly developing, the Central Bank has announced that until such time that operators can guarantee the security of these services, the use by customers should only be limited to the payment of bills. Ghanun writes that this system supports 5 million transaction a day or 1.6 billion transactions a year. Cyber police (FATA) report that not even a single case has been reported of banking information being leaked. This leads to assumptions that this order was made simply to force transactions to the banking system and increase their income.
Related Articles
Iran Economy in Brief – No. 84
A new credit line for Iran: $10b During the last week’s visit of the Governor of the Central Bank of Iran to China, an agreement was signed to extend a 10-billion-dollar credit line between five […]
Iran’s banking crisis has nothing to do with Trump
“Solving the banking crisis is the priority for us now, our No. 1 problem, and we have to resolve it,” quotes Bloomberg Teymur Rahmani, professor of economics at the University of Tehran, in an article […]
Week in Brief 20.04.2018
A week ago, the government set a unified market rate for the US dollar, after decades, which could be seen as a positive development. However, the rate at 42 thousand IRR per USD seems unrealistic […]