The Central Bank of Iran has limited individuals to a maximum of 10 active rial-denominated deposit accounts across the banking system, seeking to reduce redundant accounts, strengthen financial transparency and curb banking risks.

The regulation entered its operational phase on September 22, 2025, following years of rapid growth in the number of accounts held across the country. Iran is estimated to have around 650mn deposit accounts, many of which were opened to access specific loans, housing programmes, car purchase schemes or temporary banking services and remained active after their original purpose ended.

The policy is intended to reduce banks’ account-maintenance costs while making it easier for regulators to track financial flows and identify unusual transactions.

It also forms part of broader efforts to strengthen anti-money laundering controls and improve customer identification across Iran’s banking system.

Under the new rules, customers who already hold 10 active accounts will not be permitted to open additional accounts unless they close existing ones. Individuals with unresolved accounts in the central bank’s SAYAH monitoring system may also be denied new banking services.

The central bank said customers would be able to review their accounts, outstanding loans and bounced cheques through its electronic services portal after completing identity verification through the government’s digital services platform.

A separate centralised system is also expected to allow individuals to view all their accounts and request the closure of surplus or inactive accounts. Banks will be required to process closure requests within a maximum of 10 days.