EghtesadOnline: Iran’s banking sector, for a variety of reasons, has failed to keep up with the rapid pace of technological advancement in most countries since early 2000. However, lenders have resorted to some new approaches towards banking and financial technologies in their quest for not being left too far behind. But much more needs to be done.
EghtesadOnline: The Central Bank of Iran has resumed rating lenders based on their performance in corporate governance and the level of their progress in digital banking, according to a CBI official familiar with the matter.
EghtesadOnline: Banks met nearly 57% of industrial units' capital need in the last Iranian fiscal year (ended March 2019), says a deputy minister of industries.
EghtesadOnline: In a directive to banks and credit institutions, the Central Bank of Iran has warned that lenders would be held responsible for any loss resulting from their negligence to activate disposable debit card passwords.
EghtesaadOnline: While the government insists on lenders to get rid of their surplus properties, it seems that this is better said than done.
EghtesadOnline: In a move to curb cybercrime pertaining to debit card fraud and increase the security of online banking, the Central Bank of Iran has instructed banks and credit institutions to use one-time password (OTP) in order to protect their clients' ID and bank account data.