Tehran, Moscow mulling over to recognize MIR banking system

Kazem Jalali broke the news on Thursday and reiterated that Iran and Russia are mulling over the recognition of "MIR" banking system.

MIR is a financial transfer and payment system controlled by Central Bank of Russia that is used throughout the Russian Federation and was launched in 2014 following the imposition of Western sanctions on Russian institutions.

More than 50 percent of Russians are said to have at least one MIR bank card and more than 25 percent of their financial transactions are done through the system.

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