Economy, Business And Markets

Bank Saderat Linked to Eurozone’s TARGET2

Iran’s Bank Saderat has been linked with the payment settlement system of eurozone and even successfully conducted several transactions
People walk by the Paris branch of Bank Saderat Iran.
People walk by the Paris branch of Bank Saderat Iran.
Bank Saderat’s CEO was quick to point out that his bank has yet to be connected to SWIFT, and referred to the issue as “the most important problem facing our branches outside the country”

Bank Saderat Iran, which boasts the most expansive overseas presence among the more than 30 Iranian banks and credit institutions, has recently been connected to TARGET2, its chief executive announced.
"Bank Saderat has connected to TARGET2 and conducted several successful deals and transactions of money using this system," Hojjatollah Seyyedi also told IBENA on Sunday.
He did not elaborate whether just one or all offshore branches of his bank have been granted access to the network. 


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