www.cbsnews.com - BRUSSELS - An international banking clearinghouse crucial to Iran's oil sales said Friday that it is preparing to discontinue services to Iranian financial institutions, an unprecedented and potentially devastating blow to Tehran as the West ramps up a campaign to stop its nuclear program.
The statement by the Society for Worldwide Interbank Financial Telecommunication, known as SWIFT, suggests that the European Union — under pressure from Washington — is close to approving regulations that will require the Brussels-based hub to evict Iranian institutions from its ranks. (source)
Showing posts with label swift. Show all posts
Showing posts with label swift. Show all posts
Saturday, 18 February 2012
Wednesday, 24 November 2010
BELGIUM - SWIFT Sharia compliant for murabaha
SWIFT has announced that ISO 15022 message standards for the processing of treasury murabaha transactions have been certified compliant with the international Islamic finance standards issued by AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions). This certification paves the way towards the automated processing of murabaha treasury transactions, said to represent 60 percent of all Islamic financing.
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