PANews reported on November 26 that Mohammad Reza Farzin, the 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 the upcoming introduction of this currency.
Farzin also emphasized the importance of this meeting for formulating banking policies and pointed out that the shared insights will provide references for strategic decision-making. Additionally, he praised Iran's digital infrastructure, stating that the Shetab payment network is one of the most efficient systems in the region, capable of processing transactions in two seconds. Furthermore, Farzin detailed efforts to integrate Iran's Shetab network with Russia's MIR system to facilitate cross-border payments.