The Society for #Worldwide #Interbank #Financial #Telecommunications , called #SWIFT , is considered a cornerstone of global transactions. Before SWIFT came into existence, international interbank telecommunication was managed through #Telex - #Messages. After the decline of the telex message system, SWIFT was founded on 3 May 1973 as a non-profit cooperative organization to create a shared worldwide data processing and communication link …

Link : https://avim.org.tr/en/Analiz/POSSIBLE-EFFECTS-OF-A-RUSSIAN-CHINESE-JOINT-SWIFT-SYSTEM-ON-THE-EURASIAN-ECONOMY-AND-THE-WORLD-TRADE-SYSTEM

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