CBI Official: Iranian Banks No Longer Need SWIFT

Date: 20 February 2023 - 22:19

News ID: ۱۱۲۶۱۴

TEHRAN – Iranian Central Bank deputy governor Mohsen Karimi has said that all banks of Russia and a number banks have been connected to Iran’s financial telecommunications system, obviating the need for Worldwide Interbank Financial Telecommunication (SWIFT).
All Iran-China banking agreements sigend during Presidnent Raeisi’s visit to Beijing are confidential, Karimi told reporters, noting that this is because it’s publication will cause challenges in its realization.
Karimi made the remarks on the sidelines of the 9th Annual Conference on Electronic Banking and Payment Systems on Monday.
He also said that Iranian banks do not need to use SWIFT for financial transactions anymore.
All Iranian banks are connected to a number of foreign banks in Russia and all Russian banks, Karimi also said, adding that these banks do not need SWIFT for their financial transactions because they use the national systems of their own countries.
Saying that the removal of the dollar fron banking transactions is on the agenda, the Iranian Central Bank Vice Governor said, “Therefore, we no longer need SWIFT in this area.”
Iranian and Russian banking officials on January 29 signed a MoU in Tehran, following which the deputy CBI governor Karimi announced the launch of a banking messaging system between the two nations.