EghtesadOnline: International credit cards have found their way to one of Iran’s free trade zones, offering a credit of up to $100,000 to Iranian businessmen, an official with the Kish Free Trade Zone Organization said.
“We have obtained the licenses and made arrangements with foreign banks. Merchants endorsed by KFTZO will be eligible to make currency transfer worth as much as $100,000 through these cards,” Abbas Nourbakhsh also told IBENA on Tuesday. “This is a major step toward facilitating trade and cutting the payment and currency transfer costs. The cards are accepted in over 200 countries and can be used in ATMs and for Internet payments,” he added. The introduction of new international payment technology to Iran’s market could help the government slow the outflow of foreign currency, according to Financial Tribune.