Iran, Vietnam Sign MoU on Postal Order

Iran and Vietnam are going to cooperate on exchange of international postal money order through the International Financial System in Universal Postal Union.

Managing Director of the Islamic Republic of Iran Post Company Hossein Mehri, Post Bank of Iran's board of directors' member, Mohammad Hossein Mehrani, and managing director of Vietnam Post Corporation signed a memorandum of understanding on the sidelines of the 12th Asian-Pacific Postal Union Congress, IRNA reported.

Mehrani noted that the permits to run the International Financial System have been acquired from the Central Bank of Iran and the preparations for setting up and running the system have been taken care of.

Next month, the system will have a trial run in the presence of UPU representatives and would be launched in the Iranian month of Azar (Nov. 22-Dec. 21), he added. The 12th APPU Congress, held in Tehran on July 3-7, was attended by its 32 member states.

IFS is a standalone application that takes care of the electronic transfer of international money orders.