The Central Bank of Iran announced new guidelines based on which banks and credit institutions are allowed to issue credit cards holding up to 2 billion rials ($7,400).
As per previous procedures, credit cards belonged to three categories of 100 million, 300 million and 500 million rials.
According to a press release posted on CBI’s website, “the rise in credit card ceiling is in line with the regulator’s measures to adapt rules governing credit card usage with new conditions, [for example rising inflation] and facilitate household and business finances”.
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