In the ceremony of linking “Mir” and “Shatab”, which took place yesterday, Monday, at the headquarters of the Central Bank in Tehran, the Governor of the Central Bank of Iran, Mohammad Reza Farzin, described the measure as a major step towards strengthening economic cooperation and getting rid of the dollar in trade between the two countries, as well as facilitating economic and tourism relations. Between the two countries.
According to the Iranian official, the linkage project aims to create integration between the two payment networks and facilitate financial transactions between citizens of the two countries, noting that the process consists of three stages.
In the first stage, Iranian tourists will be able to use bank cards via ATMs in Russia, and he said: “Thanks to this method, Iranian tourists can now withdraw Russian currency from ATMs in Russia using the Iranian currency balance present in special “Shtab” cards. “With them.”
In the second stage, Russian citizens will be able to withdraw cash in Iran using their Russian “Mir” bank cards, and in the third stage, Iranian “Shtab” cards will become accepted through devices installed in Russian stores.
The “Mir” system is a Russian bank card that operates using a national payment system. It was launched in 2015 after Russian banks faced problems with “Visa” and “MasterCard” due to Western sanctions imposed against Moscow.
Today, it is possible to pay for goods or services or withdraw money from ATMs using “Mir” in a number of countries around the world.
Source: RT
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**Interview with Mohammad Reza Farzin, Governor of the Central Bank of Iran**
**Interviewer:** Thank you for joining us, Governor Farzin. Yesterday marked a significant milestone with the linking of the “Mir” and “Shatab” payment systems. Can you explain how this will impact trade and tourism between Iran and Russia?
**Farzin:** Thank you for having me. This linkage is a pivotal step toward enhancing economic cooperation between Iran and Russia. By reducing our dependency on the dollar for transactions, we’re ensuring smoother financial exchanges that will also help boost tourism. Iranians traveling to Russia will enjoy easier access to funds, and vice versa.
**Interviewer:** You mentioned a three-stage implementation process. Can you elaborate on the stages and what they mean for ordinary citizens?
**Farzin:** Certainly. In the first stage, Iranian tourists can withdraw Russian currency using their “Shatab” cards at Russian ATMs. This simplifies the travel experience significantly. The second stage allows Russian citizens to withdraw cash in Iran using their “Mir” cards. the third stage will enable merchants in Russia to accept Iranian payment cards, creating a seamless shopping experience for tourists and visitors.
**Interviewer:** The introduction of the “Mir” system, designed as an alternative after Western sanctions, is quite interesting. Do you believe that utilizing these payment systems could lead to increased economic independence for both nations?
**Farzin:** Absolutely. By developing and using our own payment systems, we mitigate the risks associated with volatile international economics and sanctions. This fosters greater financial resilience for both countries.
**Interviewer:** Given the geopolitical implications of this linkage, how do you foresee reactions from Western nations?
**Farzin:** It’s likely that this move will be viewed critically by Western nations, as it may be seen as a challenge to their financial dominance. However, our focus remains on strengthening our economies and fostering mutual cooperation between Iran and Russia.
**Interviewer:** This initiative seems promising, but do you think the public is ready to embrace such changes? Will there be any resistance to moving away from traditional systems like the dollar?
**Farzin:** Change often comes with challenges, and there may be some hesitation. Yet, the benefits—such as easier transactions and reduced reliance on a single currency—will likely encourage acceptance over time.
**Interviewer:** what would you say to those who are concerned about the potential risks associated with this shift?
**Farzin:** It’s natural to have concerns during periods of transition. Transparency in implementation and robust infrastructure for security will be our top priorities. The advantages of increased trade and cooperation will contribute to broader economic stability in the long run.
**Interviewer:** Thank you for your insights, Governor Farzin. It’s certainly an intriguing development.
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**Debate Question for Readers:**
With Iran and Russia moving towards a more integrated economic model that reduces reliance on the dollar, how do you perceive the long-term impacts on global trade dynamics? Will this shift challenge Western economic influence, or is it a risky endeavor that could backfire for both nations? Share your thoughts!
