Business And Markets

Iran Pursuing Options to SWIFT

Iran Pursuing Options to SWIFT Iran Pursuing Options to SWIFT

Governor of the central bank says if Iran is disconnected from the Belgium-based financial messaging service SWIFT (the Society for Worldwide Interbank Financial Telecommunications), alternative systems will be used to preserve ties with its trading partners. 
Abdolnasser Hemmati made the comments as SWIFT said this week that it was suspending access of some Iranian banks. It made the decision, according to a statement, “in the interest of the stability and integrity of the wider global financial system.” SWIFT, however, said the decision was “regrettable”.
That decision came after the US re-sanctioned Iran last week after Donald Trump abandoned an international  nuclear deal signed in 2015 that aimed to curb Iran’s nuclear programs.


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