37821
SWIFT Link Normal
Economy, Business And Markets

SWIFT Link Normal

According to the CEO of the Bank of Industry and Mine, Iranian banks are now connected to SWIFT, the Society for Worldwide Interbank Financial Telecommunication. Ali Ashraf Afkhami, said that SWIFT is now open to Iranian banks, Bourse Press reported. In 2012, SWIFT cut off Iranian banks subjected to EU sanctions over Iran’s nuclear energy program, shutting down a major avenue of doing business with the outside world. However, Iranian banks, their overseas branches and affiliates were officially removed from SWIFT’s sanctions list on January 17 after Iran’s nuclear accord with the six world powers came into effect. Afkham added that although Iranian banks could open LCs on the first day of the implementation of the nuclear deal, they had to resort to the traditional method for opening LCs because they had access only to the pre-sanctions’ passwords for LCs. “Even though reconnecting to SWIFT took almost three weeks, it is now ‘routinely’ processing transactions for Iranian banks.”  

 

Short URL : http://goo.gl/LZjFqB
  1. http://goo.gl/2PxeIH
  • http://goo.gl/3RVjz4
  • http://goo.gl/3GP3DC
  • http://goo.gl/BiclSK
  • http://goo.gl/0qvmmk

You can also read ...

Support for  Forex Measures
The head of Competition Council welcomed efforts made by the...
The looming crisis in the emerging markets, set off by the run on the Turkish lira, has had a more direct impact on the Iranian rial than anything the US has claimed.
Since the beginning of the fiscal 2018-19, the Iranian rial...
Yu Chang Hwang (L) and Mohammad Reza Bakhtiari
South Korea’s new ambassador to Iran, Yu Chang Hwang, said...
UK Firm: Progress Made With Iran Airport Contract
UK-based security solutions supplier Westminster Group said it...
Without Waivers, US Sanctions on Iran Will Cripple Iraq
Iraqi officials, struggling to form a new government months...
CBI: Currency Inflow Growing Steadily
Governor of the Central Bank of Iran said on Saturday that...
Uber in Talks to Buy Food-Delivery Company
Uber Technologies Inc. is in early talks to buy food-delivery...
Aston Martin Aims to Steer  Around Brexit to $6.7b IPO
Luxury British carmaker maker Aston Martin is seeking a price...

Trending

Googleplus