Iranian central bank looking for alternative to Swift, local media says
Russia and China might be willing to help circumvent sanctions, expert says
The Central Bank of the Islamic Republic of Iran plans to abandon Swift and adopt another international payments system before new US sanctions come into force on November 4, according to a report in the Iranian news agency Mehr.
The report says an identified source at the central bank confirms that due “to the problems that Swift may bring about for the Islamic Republic of Iran, CBI is after replacing Swift with another financial messaging system.” The source adds “we hope these efforts will
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