The Central Bank of Iran has developed a roadmap aimed at expanding the use of electronic checks and reducing the issuance of paper checks. This program is designed to increase the number of electronic checkbooks and facilitate financial services across the country, and will be implemented starting from October 2026.
Implementation Phases and Set Goals
According to this roadmap, in the first phase, which will be implemented from the beginning of October to the end of December 2026, the ratio of the number of electronic checkbooks to the total number of issued checkbooks (paper and electronic) in each bank must reach 25 percent. Additionally, the ratio of the number of electronic checks issued through non-physical channels to the total number of electronic checks issued in the Chekavak system must also increase to the same level. This action is in line with the legal obligations specified in the Seventh National Development Plan.
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Gradual Development of Electronic Checks
In the second phase of this program, which will be implemented from the beginning of January to the end of March 2027, the set goals will increase to 40 percent. Then, in the third phase, which will continue from the beginning of April 2027 to the end of May 2027, these ratios will reach 60 percent, and finally in the fourth phase, from the beginning of June 2027 to the end of July 2027, it will reach 80 percent. These measures will be continuously monitored and evaluated by the Central Bank.
Legal customers will also not be exempt from these changes. From the beginning of October 2026 to the end of May 2027, the issuance of paper checkbooks for this group will be limited to a maximum of 100 pages, and from the beginning of June 2027 to the end of July 2027, this amount will be reduced to 50 pages.
Consequences and Monitoring of Banking Network Performance
The performance of the banking network in achieving the set goals will be continuously monitored, and the results obtained during specific time intervals will serve as the basis for performance evaluation in this area. Additionally, if these goals are not met, the participating banks will be subject to specific restrictive measures outlined in the Central Bank Law. These changes could have profound effects on the banking system as well as on customer behavior in financial transactions.
The Central Bank hopes that with this program, it will take a significant step towards facilitating and improving banking services and reducing paper use, which will benefit not only customers but also the environment.
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