TEHRAN Managing Director of Export Promotion Bank of Iran Nowruz Kehzadi said "Electronic currency is to replace the present bank notes and coins since it will contribute to dropping the expenses

Addressing the 12th Annual Conference on Currency Policies here Monday, he added that the special feature of electronic money of being without border accounts for bringing up some problems with receiv

Referring to the effects of electronic money on the large-scale economic variables, he said that the extension of its application will be followed by increased efficiency, while it might make the proc

He said that Central Bank of Iran might either limit its distribution or take upon distributing it to contradict its negative effects.

Also they might oppose assets of electronic currency by imposing high legal deposit interest rate similar to that applying to bank notes and coins.