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Iran's CB Tightens Controls on Banks

Iran's CB Tightens Controls on Banks
Iran's CB Tightens Controls on Banks

Banks and credit institutions are barred from processing payment requests of customers lacking complete ID information stored in the banks’ data center as of April 26, an official with the Central Bank of Iran said. 
Mehran Mahramian, the CBI vice governor for innovative technology said the new restrictions are in line with improving transparency and security of transactions. 
"From April 26 transactions via banks that lack proper ID requirements will be denied by the PAYA system," he wrote, referring to specially launched automated interbank clearing house. The main requirement from clients is the national ID number.

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