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Have Iranian banks rejoined SWIFT?

Currently the SWIFT press office are saying:

  • SWIFT is aware of the Joint Comprehensive Plan of Action and the potential sanctions relief this may entail.
  • For the time being, all the current EU sanctions remain in place, including measures prohibiting companies such as SWIFT from providing specialised financial messaging services to EU-sanctioned Iranian banks. SWIFT is incorporated under Belgian law and has to comply with the related EU Regulation, as confirmed by its home country government. 
  • As a utility with a systemic global character, SWIFT has no authority to make sanctions decisions. Any decision to lift sanctions on countries or individual entities rests solely with the competent government bodies and applicable legislators. 


Payments, cards & mobile web-site (see) is saying:

  • Just hours after the historic settlement and lifting of years old sanctions against Iran regarding their nuclear capabilities, the Iranian banks have rejoined the SWIFT international banks settlement network.
  • Now the financial blockade appears to be crumbling, as Day Bank governor Ahmad Shafizadeh announced joining the system after a lengthy campaign, the Iran News Daily reported.
  • Representatives of Belgium-based SWIFT reportedly visited Tehran in April to meet officials from Iranian private banks over a possible resumption of its services in the country.
  • The news comes as Iran and six leading world powers are in the final phase of negotiating a comprehensive nuclear deal, which would lift international sanctions from Iran in exchange for greater transparency and restrictions put on its controversial nuclear program.

CTMfile take: Iranian banks will rejoin SWIFT, but they will be very cautious in approving these banks, as their Press Release shows.

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