Guidelines for Issuing Rial Debit Cards to Foreign Tourists Issued

The Central Bank of Iran has issued the “Guidelines for Issuing Rial Prepaid (Debit) Cards to Tourists and Other Non-Resident Foreign Individuals” to the banking network after it was proposed and approved by the bank’s Commission for Regulation and Supervision of Credit Institutions.

According to the Public Relations Department of the Central Bank of Iran, under the 2023 Law on Financing Production and Infrastructure, “The Central Bank of the Islamic Republic of Iran is obliged to arrange, through authorized banks or exchange offices, for tourists, investors, merchants, and foreign individuals entering the country to receive a time-limited, renewable rial prepaid (debit) card based on the amount of foreign currency they exchange at bank branches or banking exchange offices inside or outside the country at the agreed-upon daily exchange rate. At the end of the card’s validity period, any unused currency shall be returned to them at the agreed-upon daily exchange rate.”

Based on this legal mandate, the Central Bank has developed regulations titled “Guidelines for Issuing Rial Prepaid (Debit) Cards to Tourists and Other Non-Resident Foreign Individuals,” which were approved during the session of the Commission for Regulation and Supervision of Credit Institutions on November 24, 2024, and subsequently issued to the banking network.

According to these guidelines, eligible banks can issue rial prepaid (debit) cards to non-resident foreign individuals over the age of 18, upon their request, through the bank’s physical or digital channels, including branches, airport counters, ATMs/cash recyclers, or kiosks. Each non-resident foreign individual is entitled to only one rial prepaid (debit) card.

The initial and subsequent funding of the rial prepaid (debit) card is permitted solely through the purchase of foreign currency notes or incoming foreign currency transfers from the non-resident foreign individual, in accordance with the requirements outlined in the attached guidelines, via the physical or digital channels of the issuing bank or its affiliated banking exchange office.

The transaction limits for these rial prepaid (debit) cards, including purchases, card-to-card transfers, cash withdrawals, and bill payments, are the same as those set for the debit cards of Iranian individuals.

Furthermore, the settlement of any unused rial balance on the prepaid (debit) card must be conducted by selling foreign currency from the bank’s own foreign currency resources (excluding currency from exports or Central Bank resources). The type of currency and the method of payment (transfer or cash) shall be determined based on an agreement between the bank and the non-resident foreign individual, in line with the requirements specified in the attached guidelines.