The decision came after lawmakers resolved the Guardian Council’s objections to the bill during a public session on Sunday.
The bill was passed with 144 votes in favor, 108 against, and 3 abstentions out of 262 members present.
Once implemented, the reform will change the official unit of currency from the rial to the “new toman,” equal to 10,000 current rials or 100 qerans.
According to the approved legislation, the Central Bank of Iran will oversee a three-year transition period, during which both the rial and the new toman will circulate simultaneously.
The Central Bank must also prepare necessary executive measures within two years of the law’s enforcement and officially announce the start of the transition through public channels.
Additionally, the bank is tasked with determining foreign exchange rates in accordance with the country’s legal and economic framework.
The executive bylaw of the reform must be drafted within three months and approved by the Cabinet following endorsement by the Central Bank’s High Council.
