E-Checks Can Be Settled Remotely

The Central Bank of Iran said Sunday electronic checks can be processed electronically without referring to bank branches. Mehran Mahramian, the CBI deputy for innovative technologies said banks, however, will continue issuing print checks.

"Electronic checks are a new ecosystem and we are hopeful businesses will start using it. As such, we have no plans to discontinue [the use of] print checks," IBENA quoted him as saying.

All banks are obliged to accept electronic checks, Mahramian noted.