SWIFT Relink

Central Bank of Iran started using the international interbank messaging network SWIFT on Sunday, Gholamali Kamyab, CBI deputy for foreign exchange affairs said on Monday. The CBI and the banking system were reconnected to SWIFT on January 17 but some technical adjustments, like installing software and defining new users, were required before operations resumed, IRNA reported.

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) provides a network that enables Financial Institutions worldwide to send and receive information about financial transactions in a secure, standardized and reliable environment.

Due to Sanctions by 5+1 Iran was cut off from the Swift servers since 2011. However the nuclear agreement that was reached between Iran and 5+1 in July led to the lift off of sanctions in late January.

Financial Tribune