BRICS wants to create their own analogue of SWIFT

BRICS wants to create their own analogue of SWIFT

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Deputy Governor of the Iranian Central Bank for International Affairs Mohsen Karimi said that the BRICS member countries are considering creating an alternative to SWIFT.

“BRICS will consider creating its own system for exchanging financial messages between members of the organization, similar to SWIFT,” Karimi said.

According to him, the union also plans to discuss an initiative to create its own organization to combat money laundering and terrorist financing, similar to FATF.

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