جستجوی مقالات مرتبط با کلیدواژه « swift » در نشریات گروه « فقه و حقوق »

The imposition of financial messaging sanctions against select states in recent years has proven to be a markedly effective measure within the realm of international affairs. In this context, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) has been particularly targeted by sanctioning entities- such as political blocs and sovereign governments- as a potent instrument to exert coercive pressure on recalcitrant states. This development has, in turn, prompted certain affected states to seek out alternative financial networks and technological solutions to circumvent the SWIFT system. Concurrently, the advent of recent advancements in financial and blockchain-based technologies has given rise to the notion of establishing faster, more cost-effective, and more transparent monetary transaction mechanisms as potential replacements for the existing SWIFT infrastructure. This confluence of developments has raised a series of issues in public international law that warrant rigorous examination. Employing a descriptive-analytical method, this article seeks to elucidate the multifaceted legal challenges surrounding the sanctioning of the SWIFT system in the realm of international law. While introducing the significance of SWIFT and exploring the relevant domestic laws in Iran, it critically examines the legitimacy, or lack thereof, of the international sanctions imposed on the SWIFT network. Furthermore, it evaluates the responses of various states to the SWIFT-related sanctions and some of the alternative solutions proposed by governments. Findings suggest that the imposition of sanctions on the SWIFT network has had profound implications on the global financial landscape. One key consequence has been the acceleration of efforts by sanctioned states to develop and implement alternative financial messaging systems, such as Russia's SPFS (System for Transfer of Financial Messages) and China's CIPS (Cross-Border Interbank Payment System).

With the emergence of the age of explosion of information and communication, all aspects of human life were affected by this. In such a way that the use of technology has become one of the inseparable parts of today's world. With the expansion of global trade, the need for advanced systems for monetary and financial exchanges was felt more. With the remarkable progress of information and communication technology, banking networks have decided to facilitate and develop their calls and orders regarding financial transactions by creating infrastructures based on information and communication technology. In this, financial messenger systems have been of special importance, because in fact, these systems are the main infrastructure of establishing communication between domestic and international banks. Also, these systems are used for large financial transactions such as issuing letters of credit and guarantees. The most famous international example of these systems is the SWIFT network, which is the most extensive financial messaging network where almost all banks in the world are in contact with each other through the infrastructure and language of this network. Due to the unique features that SWIFT has compared to other financial transfer networks and methods, it can be said that the monopoly of financial messaging networks is in the hands of this financial messaging network. This means that returning to bilateral methods or creating a parallel platform is impractical and uneconomical. On the other hand, in different systems, governments regulate regulations based on various motives, such as limiting the economic power of a company, securing the interests of a particular company, or even for political exploitation. One of the ways to achieve this goal, the public institutions regulating the sectoral regulations, in order to provide safe and continuous public services to the citizens, protect the rights of consumers and investors, and also use the order as much as possible in the way of the interaction of the players of the markets in question. The distinctive feature of the recognition of sector regulations should be considered as the monopoly of these regulations in the market and the constituent sectors. Therefore, it is considered the main inspection of non-competitive markets that the government enters this sector with the title of "regulator". That is, the government intervenes by using the policy of economic regulation and in the form of sectoral regulatory institutions, in order to, on the one hand, support the consumers by bringing the performance closer to the optimal conditions, and on the other hand, prevent the spread of inefficiency and economic anomalies. In this case, the purpose of sector regulatory institutions and economic regulation systems is to regulate the activities of natural monopolies, especially public benefit industries and services, to protect the interests of consumers and improve efficiency. Thus, by creating economic regulation systems, the government tries to simulate a competitive market in a way, and by imposing regulatory regulations, it forces the relevant monopolies to act like a competitive market. Natural monopoly and the creation of a banking messaging unit network for financial exchanges and transfers have led to a sharp reduction in transaction costs for banks. In other words, with the advancement of technology and the provision of suitable infrastructure for the communication and connection of all banks to each other, the creation of a platform and a single communication language made the use of traditional methods such as telex and two-by-two communication of each bank with the other bank eliminated. However, due to the fact that the control and supervision of SWIFT is in the hands of a minority of the member countries, this company has abused this position based on its economic interests and its influential members and can, based on unilateral contractual conditions, target the members of the minority. Deprived of their services this minority practically has no substitute. On the one hand, since the existence of a natural monopoly in a product and service excludes it from the supervision and control of the regulations of competition law, and since SWIFT, as a system that provides banking services, is a natural monopoly, and the creation of other networks for Financial transactions for banks have no relative advantage, so it seems that this monopoly network should be monitored and controlled through sectorial regulations. With regard to the above, this research by explaining the special features of banking financial messenger networks, emphasizing and relying on SWIFT features and the similarities of these features with natural monopoly industries; It is looking for a solution to set regulations to control and monitor this financial messenger network. First, by examining the structure and legal nature of SWIFT, it has acquainted with the mechanism of this financial messenger network and its relationship with banks, and by examining the role of information technology in creating a natural monopoly for monopoly networks and systems; it has to know the advantages and disadvantages of such a monopoly.

SWIFT is a Belgian Company which provides a variety of Services for banks and financial institutions in different countries and makes it possible for them to communicate securely and fast. Massaging is one of the most important services of SWIFT. In this respect SWIFT has developed Standard Massages for each transaction. One of the most important groups of SWIFT Massages is those related to letter of Credit that is in Category 7. Letter of Credit is one of the most common payment mechanisms in international business. SWIFT Standard massages facilitate banks’ operations and differences among banks due to different interpretations would be avoided. In this paper SWIFT messages for letter of Credit are studied.

In the last few decades, transferring of money had been through A T M (automatic transferring money) or business card because of its security issues. Beforehand, the transferring of money from one account to another account in companies or institutions had been via transmission. Nowadays, however, electronic system and huge classified institutions among them Swift and others are branches of electronic net payment. Since the basic aim of Swift is transferring messages to facilitate bank operations, the members of Swift not only did use this net for sending messages which is related to transferring of money, but also they used this net for facilitating currency operations, bank interest, and securities transactions In this paper, we will try to introduce Swift (international financial institution) and its services and advantages as well as its structure.