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The Financial Times has obtained documents that showcase Iran’s efforts to evade sanctions by using accounts at two of the UK’s largest banks.
banks, financial sanctions, regulation, compliance
India and Indonesia have engaged in talks to settle bilateral transactions in local currencies and link up their fast payments systems.
partnership, cross-border payments, transactions , local payment method, trade finance
All members of the Asian Clearing Union have agreed to move towards local currency settlement in a bid to reduce dependence on the US dollar.
partnership, trade finance, settlement, transactions
Jean Sideris and Rawad Nasser from Edgar, Dunn & Company analyse the increasing challenges of international card schemes in the context of rising domestic initiatives.
card scheme
The central banks of Russian and Iran have signed a deal to connect national interbank communication and transfer systems to spur trade and facilitate transactions.
online banking, mobile banking, money transfer, central bank, payments infrastructure
The Russian Vedomosti news agency has revealed in an article that Russia and Iran are gearing up to launch a new gold-backed stablecoin.
stablecoin, cryptocurrency, cross-border payments, partnership, regulation
Uzbekistan's UZCARD has suspended payments processing through Mir cards issued by Bank of Russia's National Card Payment System due to necessary technical procedures.
payment processing, financial sanctions, online payments, payment processor
The Central Bank of Egypt has entered negotiations to join Russia’s Mir card payments system in a bid to improve Russian tourism in Egypt as well as trade ties between the two countries.
online payments, cross-border payments, payment processing, payment processor, central bank
Iran’s Ministry of Industry, Mine and Trade has approved the use of cryptocurrencies as payment methods for imports.
cryptocurrency, digital assets, central bank, cross-border payments
The Central Bank of Iran has entered negotiations to join Russia’s Mir card payment system in order to improve regional trade and bypass US sanctions.
online payments, payment processing, payments , payment processor
Russia has jumped to become the third largest market for the yuan, according to Reuters, while Chinese digital lending apps are investigated by the Reserve Bank of India, moneylife.in reports.
Russia Ukraine War, lending, online fraud, digital banking, Mir
Iran has made its first official import order using cryptocurrency, in a move that could allow the Islamic Republic to circumvent US sanctions that have crippled the economy.
cryptocurrency, crypto asset, cross-border payments, central bank
Kledjona Mollaj, Consultant at Be | Shaping the Future UK, discusses the latest changes in Russia’s internal payment system and the challenges faced by the government amid the invasion of Ukraine.
Russia Ukraine War, local payment method, remittance, SWIFT, debit card, credit card, Issuer, central bank, mobile payments, online payments
Iran will not recognize cryptocurrencies as a means of payment, as a high-ranking government official has indicated.
central bank, regulation, cryptocurrency, digital currency, CBDC, Bitcoin
The Central Bank of Iran has given details about its recently announced instant payment system for the country’s banking and payment network.
instant payments, product launch, money transfer, bank transfer
banks, credit card, central bank, regulation
Russia’s central bank governor, Elvira Nabiullina, has said for CNBC that digital currencies will be the future of financial systems, as the economy moves online.
CBDC, digital currency, SWIFT, cybersecurity, central bank
Iran, banks, The Central Bank of Iran, CBI, Sepah Bank, Mehr Eghtesad Bank, Hekmat Iranian Bank, Ghavvamin, Ansar, Samen Institute of the Islamic Revolution Guards Corps, banking, US
MIR, a Russian-backed bank payment system, is set for its European debut, when a pilot project will be launched in collaboration with PayXpert, a Dutch global payment company.
Mir, Visa, MasterCard, dollar, payments , Europe, Russia, caredit cards, debit cards, acquirers, electronic services
The Central Bank of Iran has developed a new platform, Diba, to supervise open banking operations.
Central Bank of Iran, Open Banking, regulates forex operation, payments , banking, bank, foreign exchange, Forex, card-based transactions, Diba, CBI, Shaparak, Iran, Middle East