According to PANews, Mohammad Reza Farzin, Governor of the Central Bank of Iran, discussed the digital rial at the 11th Annual Conference on Modern Banking and Payment Systems.
He called the launch of the digital riyal an important milestone in the modernization of the financial system and confirmed that the currency would be launched soon.
Farzin stressed the importance of the conference to the bank’s policy making and the insights shared will inform strategic decisions.
He praised Iran’s digital infrastructure, noting that the Shetab payment network is one of the most efficient systems in the region, processing transactions within two seconds.
Additionally, Farzin detailed efforts to integrate Iran’s Shetab network with Russia’s MIR system to facilitate cross-border payments.