8843
Bank Kicked Out of Checkavak
Economy, Business And Markets

Bank Kicked Out of Checkavak

An unnamed bank was reprimanded by the central bank due to noncompliance with e-check system Checkavak, a central bank official said on Monday.
“We cannot let one bank’s weak performance hurt the general consumer,” said Nasser Hakimi, Central Bank of Iran’s head of Communication and Information Technology.
Bank’s that cannot comply with electronic check management system will be marginalized by the CBI and will lose their privilege to process checks.
Checkavak’s recent malfunctions in some provinces, have led to speculation over the system’s readiness for operation. But CBI officials said that these shortcomings were fixed, so that the system can function properly, when it goes online in all of Iran on Feb. 11.
The check management and clearing system will easily handle all checking transactions. It is supposed to handle 60 percent of all check transactions.
Checkavak is using broadband intranet, and since the introduction of Tehran to the system on Dec. 27, it is using 20 percent of its band capacity.
The system has processed 405,000 checks in 14 provinces, seven percent of which have bounced due to various reasons.

 

Short URL : http://goo.gl/x0tV12

You can also read ...

BMW’s Tech-Stuffed Concept SUV Heralds Fancy, Electric Future
Changing notions of what customers want from cars have pushed...
Tesla Hits New Speed Bump
Tesla Inc’s Chief Executive Officer Elon Musk on Sunday...
Oil & Gas Sector Most Conducive for Business
The research arm of Iran’s Parliament has conducted a first-of...
3 CBI Officials  to Leave
Following the recent passage of the law banning the employment...
CBA Concerned About Forex Outflow to Iran
The Central Bank of Afghanistan raised concerns about the...
Anzali Port to Be Connected to National Railroad
Anzali Port in the northern Gilan Province will be connected,...
Mineral Trade Surplus Hits $2.9b
Iran exported more than 25.47 million tons of mineral products...
Departure Tax Revenues  Up 117 Percent
The government earned 3 trillion rials ($24 million) from...

Trending

Googleplus