Launch of banking messengers parallel to SWIFT, promotion of monetary treaty, ‘essential’

TEHRAN, Jul. 22 (MNA) – Member of Parliament Economic Commission Mahmoud Bahmani said Monday that launch of banking messengers parallel to SWIFT (Society for Worldwide Interbank Financial Telecommunications) and development of monetary treaty in the country is essential, the issue of which should be followed up seriously.

All banking transactions of the country can be tracked by SWIFT precisely, he said, adding, “in this regard, it is necessary to launch a banking messenger operating in the country in tandem with SWIFT.”

Former governor of Central Bank of Iran pointed to the plan of using financial messengers and conclusion of multilateral monetary treaties in foreign trade and added, “in the current situation, development and promotion of monetary treaties in the country is essential, so that regional monetary treaties are ‘effective and influential’ in the field of facilitating trade and economic exchanges.”

It is hoped that the mentioned plan will be voted by legislators in the Parliament, he emphasized.

With regard to the launch of banking messenger substitute with SWIFT in the country, he reiterated, “it seems necessary that a domestic banking messenger should be defined in the country in tandem with SWIFT.”

Like SWIFT, EU’s trade mechanism with Iran dubbed “INSTEX” will also provide other countries to get access financial information of the country, Bahmani stated.

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News Code 147922

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