Iran’s battle against its severe coronavirus epidemic now includes an increased transfer limit on card-to-card financial transfers to cut down on close contact between people requiring visits to bank branches and the exchanging of paper money.
The limit has been increased to Iranian rial (IRR) IRR100mn ($645 at the free market rate, $2,377 at the official rate) from IRR30mn, according to a memo sent on March 9, Banker.ir reported.
Central Bank of Iran (CBI) official Davoud Mohammad-Beigi announced the move.
Card-to-card payment in Iran is the most common large transaction method, whereby users transfer funds to one another via their card details. This was previously largely conducted on ATMs but it is now also available via mobile payment applications.
Bank branches in Iran are working according to limited hours in the run-up to the Nowruz Persian new year holidays that start on March 19 due to the ongoing fight to contain the spread of the coronavirus. Banks and businesses will close for the holiday break.
Uzbek media outlet Spot has compiled a list of Uzbekistan's domestic banks in terms of their profitability following the release of 3Q results. Its analysis showed that almost all of the financial ... more
Tarfin, a digital platform that provides Turkish farmers with inputs and credits, has sold Turkish lira (TRY) 50mn ... more
European peer-to-peer lending platform Robo.cash has said that its Kazakhstan originator saw loan volumes grow 29% q/q in the third quarter of 2021, Peer2Peer Finance News ... more