Iranian banks have begun issuing credit cards for the first time, 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.

Valiollah Seif, the head of the central bank of Iran, cautioned that it could take some time for banks to get used to the credit card system.

"It would be incorrect to think that these cards will be used quickly within the banking network," Iranian Students' News Agency (ISNA) quoted Seif as saying.

The credit limits and fee percentages will be fixed by Iran's Central Bank, although individual banks will be responsible for determining if a customer qualifies to receive a card.

Cards will come in three set credit limit amounts, $3,000, $10,000 and a top tier of 50 million rials, or about $14,000. Bills that are not paid within a month will be subject to 18 percent APR fees.

So far, Iranian banks have only issued debit and prepaid cards.

The move comes following last summer's landmark nuclear deal that brought the lifting of international economic sanctions in return for capping Iran's nuclear activities.