Iran's CB Payment Initiatives Focus on Transparency

The Central Bank of Iran’s Innovative Technologies Department has performed well in developing infrastructures to improve the transparency of banking transactions, the department said.
In a press release posted on CBI’s website, the bank said its Innovative Technologies Department is working on 50 technological projects for this purpose.
It said the regulator of payment network, a CBI affiliate known locally as Shaparak, has cracked down on more than 2.5 million payment devices whose users lacked valid identification documents.
The crackdown was in line with efforts to curb tax evasion and suspicious transactions through unidentified payment instruments.
In addition, Shaparak has sent the data about users of 4.8 million payment instruments to the Iranian National Tax Administration.