IFP Exclusive

Iranian speaker: BRICS’ equivalent of SWIFT can replace US-owned money transfer system

Iran’s Parliament Speaker Mohammad Bagher Ghalibaf says BRICS has its own money transfer system which can replace US-owned SWIFT.  

Ghalibaf added that Iran will officially become a BRICS member from January 1st and that this is going to be a great opportunity for working with powerful countries.

The Iranian parliament speaker noted that BRICS member states comprising Brazil, Russia, India, China, and South African account for 20 percent of Iran’s transactions with foreign countries and these possibilities can be used through BRICS and its money transfer system.

The US has cut off Iran’s access to SWIFT as part of its sanctions on the Islamic Republic.

Mahdi Arman

Mahdi Arman is an Iranian journalist who works as the head of the Iran Front Page (IFP) news website's Business Department. He also has a special interest in the latest social and cultural developments in Iran and the world.

Recent Posts

Two Iranians arrested abroad for alleged involvement in equipping drones used against US forces

Iranian nationals Mohammad Abedini and Mehdi Mohammad Sadeghi have been arrested in Milan and Massachusetts…

11 hours ago

7 soldiers killed in road crash in Iran’s Lorestan province

A tragic bus accident occurred on Saturday in Lorestan province, western Iran, killing seven soldiers…

11 hours ago

Azerbaijan president thanks Iran for support of Baku’s membership in D-8 group

Azerbaijani President Ilham Aliyev has expressed gratitude to Iranian President Massoud Pezeshkian in a letter,…

11 hours ago

Over 12,000 civilians killed in Ukraine during Russia’s full-scale war: UN

More than 12,300 civilian deaths have been recorded in Ukraine since Russia launched its full-scale…

11 hours ago

Israel leaves Palestinian bodies for stray dogs in Gaza: Report

Gaza's Civil Defense reported on Saturday that Israeli troops are killing Palestinians and leaving their…

11 hours ago

FT: Trump plans to continue US military assistance to Ukraine

US President-elect Donald Trump plans to continue military aid for Ukraine, the Financial Times has…

11 hours ago