Registration of checks in Sayad system by customers is obligatory

According to the public relations of the Tose’e Ta’avon Bank, in line with the implementation of Article 21 of the Law on Amending the Law on Issuance of Checks, approved by the Islamic Iranian Parliament In November 2009, the Central Bank has announced instructions related to this law in the banking network will be required From the current 12nd of December.

According to the contents of the new law, the issuance and transfer of each check requires registration in the "Sayad system". With this mechanism, from the 22nd of December of this year, it is necessary for all checks to be issued in the name of specified beneficiary, and the registration of the check transfer in the Sayad system will replace the check endorsement.