PANews reported on November 26 that according to Tasnim News Agency, Mohammad Reza Farzin, Governor of the Central Bank of Iran (CBI), discussed Iran's central bank digital currency (CBDC) - the digital rial at the 11th Annual Conference on Modern Banking and Payment Systems. He described the launch of the digital rial as an important milestone in the modernization of the country's financial system and confirmed that the currency will be launched soon.
Farzin also stressed the importance of the meeting for the formulation of banking policies, noting that the insights shared will inform strategic decisions. In addition, he praised Iran's digital infrastructure, saying that the Shetab payment network is one of the most efficient systems in the region, capable of processing transactions within two seconds. In addition, Farzin detailed efforts to integrate Iran's Shetab network with Russia's MIR system to facilitate cross-border payments.
