Iran to be hooked up to global banks in weeks - Middle East Bank
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International banks are preparing to re-establish links with their Iranian counterparts using the SWIFT transactions system, the head of Iran's Middle East Bank told Reuters on Friday.
But it is likely to take at least two weeks before the connections will be set up, which will allow Iranian lenders to engage with the global banking world for the first time since international financial restrictions were imposed in 2012.
The SWIFT system, or Society for the Worldwide Interbank Financial Telecommunications, is used to transmit letters of credit and payments.
