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Iranian banks rejoin SWIFT

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.

Iran’s Day Bank announced re-joining the SWIFT transaction system. The Society for

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Iranian banks rejoin SWIFT

Worldwide Interbank Financial Telecommunication (SWIFT) blocked 30 Iranian banks from its services after the EU joined American sanctions against the Iranian banking sector.

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.

Iran denies accusations by the US and Israel that it tried to secretly develop a nuclear weapon, insisting that its nuclear industry is purely for civilian purposes.

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