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Iran will reconnect to SWIFT system soon

Those banks that are delisted by the Implementing Regulation will now automatically be able to reconnect to SWIFT

Baku. 18 January. REPORT.AZ/ An Iranian official says the country will reconnect to SWIFT, the global provider of secure financial messaging services, by the end of January.

Rerpot informs the head of Iran Chamber of Commerce Mohsen Jalalpour told reporters in Tehran that, today Iran will re-apply to join the Society for Worldwide Interbank Financial Telecommunication (SWIFT).

Jalalpour said the SWIFT committee will examine Iranian application in a matter of two weeks and it is expected that sanctioned Iranian banks will reconnect to the system by January 30 at the latest, IRNA reported.

In an update on its website on January 17, 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. As previously stated, 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).

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