Central Bank Sets Four Phase Roadmap to Expand Electronic Checks

Iran's Central Bank has notified the banking network of a roadmap to expand electronic checks, implementing a provision of the country's Seventh Development Plan law that bars paper checks starting the plan's third year. Under letter No. 65381/05 dated 25 Khordad 1405 and a decision by the Central Bank's Executive Board at its 17th session on 16 Shahrivar 1405, the four phase roadmap takes effect from the start of Mehr 1405 (late September 2026). In phase one (Mehr through the end of Azar 1405), the share of electronic checkbooks issued out of each bank's total checkbooks, and the share of electronic checks deposited through non in person channels, must both reach 25 percent. That threshold rises to 40 percent in phase two (Dey through Esfand 1405), 60 percent in phase three (Farvardin through Ordibehesht 1406), and 80 percent in phase four (Khordad through Tir 1406). At the same time, the maximum number of pages in a paper checkbook for individual customers will shrink progressively from 100 pages in phase one to 10 pages in phase four. The Central Bank said it will continuously monitor bank performance, and banks that miss the targets will face restrictive measures under Article 25, clause 3 of the Central Bank Law.