CBI Elaborates on E-Wallet Fintechs

Ahead of the publication of the latest regulatory framework by the Central Bank of Iran for fintechs operating electronic wallets and account management facilities, the regulators’ deputy for innovative technologies has elaborated on the limitations of the fledgling businesses.
Nasser Hakimi, who was speaking specifically about fintechs planning to offer electronic wallet services, added that they must involve a financial institution into their work.
“Fintech startups must include an authorized bank or credit institution into the cycle of their wallets, as this can be strictly done with the participation of a bank,” he told IBENA.