Iranian Minister of Economy proposes Asian banking communication system as Swift alternative

Iranian Minister of Economy and Finance Ehsan Khandozi presented the Asian project of banking communication between banks as an alternative to the Swift (International Association for Financial Telecommunications between Banks) system.

The statement was made at a press conference by the Iranian minister today, Tuesday. The minister also confirmed that the factors leading to inflation in the Iranian economy are well managed and controlled.

He explained that liquidity growth during the era of the previous government (its term ended in August 2021) peaked at that time, and with the introduction of some specific measures by the current government, the volume of liquidity decreased by 30 percent in the fiscal year ending March 20, 2023.

Source: Faris