SWIFT system analog between Russia and Iran to start functioning in coming months

SWIFT system analog between Russia and Iran to start functioning in coming months
# 18 October 2022 16:08 (UTC +04:00)

An analog of the SWIFT bank-to-bank information and payment system between Russia and Iran may start functioning in two-three months, Russian Trade Representative in Iran Rustam Zhiganshin said at the meeting with members of the Iran’s Chamber of Commerce and Industry, APA reports citing TASS.

"The decision to create an analog of the SWIFT system will be made at the meeting of the Russian-Iranian commission on trade and economic cooperation," Zhiganshin said. "If countries are able to reach the final agreement on this issue, the system will be able to start functioning as early as in two-three coming months," he added.

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THE OPERATION IS BEING PERFORMED