Baku, Azerbaijan, Jan. 27
By Khalid Kazimov - Trend:
Some 95 percent of the country's liquidity is not handled in the form of physical notes, but through electronic banking facilities, Director of the Iranian Monetary and Banking Research Institute Farhad Nili said.
He said that online banking has found a proper place in Iran, adding that 2.5 billion online banking transactions are registered in the country every year, IRIB News reported.
Nili said no other industry in Iran has made such great progress, adding that people have more trust in a text message confirmation than going to the bank.
He pointed out that not only is Iran enjoying a good regional ranking for the penetration of online banking, but it also holds a desirable place in the global community in terms of development indices reached in the area.
Nili said online banking has to be managed well so it would offer people proper services.
Meanwhile, director of Iranian Central Bank's ICT department, Naser Rahimi provided details on the newly launched Chakavak online banking system.
He said the problems with transactions through th
Naser Rahimi explained that the problems with transactions through the platform have appeared when the operators decided to expand the system's coverage from provincial areas to the capital Tehran.
Chakavak is an online banking system for check management that Iran is trying to introduce as a nationally viable platform.
Due to the different style as well as large number of transactions conducted by banks in Tehran, we faced problems that we previously didn't have, he said.
Rahimi said that currently 60 percent of the whole country's checks are registered and managed under Chakavak. He expressed hope that as soon as the errors are fixed, the platform will start working in full in a few months.
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