The Central Bank of Iran is striving to enhance the banking industry by supporting new technologies. Pointing to the significance of information technology in promoting the efficiency of the key banking sector, Valiollah Seif, the bank CEO welcomed improvements to and innovation in technology related to banking operations, the CBI website reported on Wednesday.

Seif referred to the CBI development roadmap for the year 2021 as one of the elements to help address the visible drawbacks in local banking practices. Ali Kermanshah, CBI’s newly-appointed deputy for innovative technologies pointed to the dilemma of employing new technology for businesses and said while advanced technologies help boost business activities, their careless usage could be destructive.

Kermanshah, a former director of the Informatics Services Corporation on Monday filled the seat of innovative technologies at the top bank that was vacant since 2008.

By Financial Tribune