Iran Press/Iran news: Speaking at the launch ceremony, Mohammad Reza Farzin, the Governor of Iran's Central Bank proudly stated, “Today, we take a major step toward dollarization reduction and enhancing economic ties between the Islamic Republic of Iran and the Russian Federation.
He emphasized that by connecting the two countries' national payment networks, electronic payment barriers have been eliminated, opening a new chapter in the economic and cultural cooperation between the two nations.
The project aims to create integration in the payment systems and streamline financial transactions for citizens of both countries. Farzin highlighted that the first phase of the project, which was completed by the end of September and is now being unveiled, enables Iranian bank cardholders to use their Shaparak network cards at ATMs in Russia.
With this new system, Iranian tourists can now easily withdraw Russian rubles from ATMs in Russia using their Iranian bank cards, and the transactions are conducted in Iranian rials.
Currently, the Central Bank of Iran's designated travel currency is available through this platform, with plans to expand this service in the future to include other types of service-related foreign exchange for Russia. This initiative marks a significant step in facilitating smoother financial interactions and reducing dependence on the US dollar in transactions between the two countries.
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