Financial Tribune - The Central Bank of Iran has developed a new platform, Diba, to supervise open banking operations, says Aboutaleb Najafi, CEO of Informatics Services Corporation, noting that regulated forex market is also planned to function on this platform.

"Diba is a regulatory platform like Shaparak, which was developed to regulate the operation of payment service provider companies. Banks have started to offer open banking services, allowing developers to create applications and offer innovative financial services," he was quoted as saying by IBENA.

Banks will be required to get their open banking platforms connected to Diba, so that the CBI can supervise account-based transactions (as opposed to card-based transactions), he said.