Tasnim Irans financial telecommunications system, known as SEPAM, has replaced the Society for Worldwide Interbank Financial Telecommunication (SWIFT) in the countrys financial transactions with Russia, the governor of the Central Bank of Iran (CBI) said. In remarks released on Tuesday, Abdonnaser Hemmati said banking ties between Iran and Russia ...

TEHRAN (Tasnim) The Central Bank of Iran has developed a home-made financial telecommunications system, known as SEPAM, as a replacement for SWIFT. Developed to get around the unilateral sanctions imposed on Iran, electronic financial messaging system (whose acronym in Farsi is SEPAM) has been introduced by the countrys Central Bank as a substitute ...