Iranian banks have begun issuing credit cards for the first time in decades, local media reported on Monday.

The report by several newspapers, including the daily Donya-e-Eqtesad or World of Economy in Farsi, said the cards will be for domestic use only and do not involve any sort of partnership with a major international credit card company.

The cards are usable for purchasing products and services from Iranian online shops as well. The move is aimed at helping to boost Iran's sanctions-damaged economy.... Read More: mercedsunsta