Payments system SWIFT to expel Iranian banks Saturday




 
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Payments system SWIFT to expel Iranian banks Saturday
 
March 16th, 2012  
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Topic: Payments system SWIFT to expel Iranian banks Saturday


Payments system SWIFT to expel Iranian banks Saturday
BRUSSELS (Reuters) - The world's biggest electronic payment system on Saturday will cut off Iranian banks blacklisted by the European Union in an attempt to further strangle Tehran's ability to finance a nuclear program. Belgium-based SWIFT, which facilitates the bulk of global cross-border payments, said it would disconnect designated Iranian financial firms from its messaging system on Saturday at 1600 GMT after European regulators ordered the company to do so. "The EU decision forces SWIFT to take action," SWIFT Chief Executive Lazaro Campos said in a statement on Thursday. ...




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