Iranian Banks can Access SWIFT Int’l Payment System

The Central Bank of Iran (CBI) announced on Tuesday that Iranian banks and their foreign branches “received the opportunity to reconnect to SWIFT international payment system”.

SWIFT said in a statement:

“Those banks that are delisted by the Implementing Regulation will now automatically be able to reconnect to SWIFT, following the completion of our normal connection process (i.e. administrative and systems checks, connectivity and technical arrangements).”

According to CBI public relations department, Iranian banks will be able to connect to SWIFT without any discrimination. It means that one main obstacle on the way of Iranian banks’ international relationships is removed. The negotiations focused on the following points:

  1. Official statement of sanction relief and entry of Iranian banks into international financial messaging system;
  2. Nondiscriminatory connection of Iranian banks as well as their domestic and foreign branches and subsidiaries to SWIFT;
  3. Collective and immediate reconnection of delisted banks to SWIFT;
  4. Reimbursement and release of bank claims against SWIFT.

(Source: CBI)

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