Visa Inc comments on reports about reentering Iran (Exclusive)

Business Materials 14 March 2018 12:12 (UTC +04:00)

Baku, Azerbaijan, March 14

By Leman Zeynalova – Trend:

Visa is not able to offer products or services to Iranian banks, merchants or consumers, a source in Visa Inc., US multinational financial services corporation, told Trend.

This is due to the ongoing restrictions by the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury, explained the source.

“Visa’s policy is not to process any transactions on Visa-branded cards at merchant locations in Iran,” said the source.

Earlier, Governor-General of Iran’s East Azerbaijan Province Majid Khodabakhsh said that the holders of Visa Card can make purchases in Tabriz City’s bazaar during an event in which the city represents the capital of Islamic tourism for a year in 2018.

"Proper measures have been taken to host tourists during the event … for example, holders of Visa Card are now capable of making purchases in the unique bazaar of Tabriz," Khodabakhsh told Trend.

The imposition of nuclear sanctions against Iran had made the official sales of leading debits cards namely Master Card and Visa Card illegal in Iran. The debit cards were slated to enter Iran following the implementation of the nuclear deal in January 2016 but the task was never realized.


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