The Central Bank of Iran said it has put into effect major parts of the Check Issuance Law, outlining a timeline for enforcing the remaining segments.
The new legislation was passed by parliament in Nov 2018. The CBI said depriving disruptive checkbook-holders of loans and other banking facilities, conducting regular credibility assessment of checkbook holders and inquiries about check transactions of those owning checkbooks have been realized.
Last year the CBI required all check transactions to be registered on a special electronic platform, named Sayyad. The system runs credibility checks on account holders wanting to write a check.
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