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    Emil Lazarian
  • 10 years ago
    • Categories: News

Iranian banks reconnect to SWIFT banking system

The Central Bank of Iran and 15 other banks have re-engaged with the banking world as international lenders link up with their Iranian counterparts using global transaction network SWIFT, said the head of Presidential Office Mohammad Nahavandian on Tuesday, reports.

According to the senior official, Iran is now reconnected to the Society for Worldwide Interbank Financial Telecommunication (SWIFT), the global provider of secure financial messaging services through which LCs can now be issued as well.

In an update on its website, SWIFT said the European Union has announced that the Implementing Legislation has taken effect. SWIFT has informed the relevant stakeholders about the necessary measures that need to be put in place to make it possible for those banks that are delisted by the Implementing Regulation to reconnect to SWIFT.

The announcement follows implementation of Iran’s nuclear agreement, where the EU, the United Nations and the United States lifted sanctions on the country in exchange for curbs on its civilian nuclear activities.

Emil Lazarian: “I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS
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