Guaranteed Cheques to Be Paid Instantly From September 29; Central Bank Bans Coded Cheques

According to Boursenews, in a report published Thursday, 5 Shahrivar 1405 (August 27, 2026), Iran's Central Bank announced that from 7 Mehr 1405 (September 29, 2026), guaranteed cheques will be paid instantly, and banks must pay the amount to the beneficiary without conditioning payment on interbank settlement. At the same time, the issuance of coded cheques was banned effective the same date.

Under the ruling, from the first day of Dey 1405, trading of previously issued coded cheques will also be banned. The Central Bank set this timeframe to allow the banking network to prepare and said the deadline will not be extended again. Because guaranteed cheques are similar to coded cheques and carry no bounced status, banks must begin paying them instantly as soon as the first phase takes effect.