Economy, Business And Markets

Majlis Approves Plan to Combat Banking Sanctions

A seven-point plan outlining measures to combat US banking sanctions by clinching currency swap deals and bank card switch integration has cleared its first hurdle in parliament
Majlis Approves Plan to Combat Banking Sanctions
Majlis Approves Plan to Combat Banking Sanctions
In order to diversify and facilitate the country’s instruments and methods of payment, CBI is obligated to prepare the ground for the creation and issuance of digital currencies with state and non-state backing

Members of Iran’s Parliament have ratified a single-urgency plan containing seven articles that propose measures to nullify or weaken the impact of sanctions the US plans to reimpose on the country’s banking and financial sectors in August.
The plan, ratified on July 4, emphasizes the speedy implementation of measures that have already been proposed or pursued at various levels. It was passed after 103 MPs voted in favor and 67 opposed it. 
It has now been referred to Majlis Economic Commission for further expert review, IRNA reported.


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