Rules Tightened for Cashier’s Check

The Central Bank of Iran Tuesday enforced more segments of the new check rules broadening the scope of cashier’s checks. 
A cashier's check is a check guaranteed by a bank, drawn on the bank's own funds and signed by a cashier. Cashier's checks are treated as guaranteed funds because the bank, rather than the purchaser, is responsible for paying the amount. They are commonly used for real estate and brokerage transactions. 
According to a press release on the CBI website, all cashier checks issued as of Tuesday must be registered with Sayyad system and receive a special 16-digit ID number.