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The '''SWIFT banking network''' (Society for Worldwide Interbank Financial Telecommunications} system powers most international [[money]] and [[security]] transfers. SWIFT powers the [[Petrodollar]] system. SWIFT is a vast messaging network used by financial institutions to quickly, accurately, and securely send and receive information, such as money transfer instructions to resolve international transactions and [[balance of payments]] [[trade]] accounts.
The '''SWIFT banking network''' (Society for Worldwide Interbank Financial Telecommunications) system, which was founded in 1973 for the purpose of establishing common processes and standards for financial transactions, powers most international [[money]] and [[security]] transfers. SWIFT powers the [[Petrodollar]] system. SWIFT is a vast messaging network used by financial institutions to quickly, accurately, and securely send and receive information, such as money transfer instructions to resolve international transactions and [[balance of payments]] [[trade]] accounts.
SWIFT is a Limited Liability Company owned by its members, headquartered in [[Belgium]], and has over 11,000 member [[bank]]s and about 1,000 [[corporation]]s worldwide.
SWIFT is a Limited Liability Company owned by its members, headquartered in [[Belgium]], and has over 11,000 member [[bank]]s and about 1,000 [[corporation]]s worldwide.
*[[Systematics]]
*[[Systematics]]
*[[BCCI scandal]]
*[[BCCI scandal]]
== External links ==
*[https://iwayinfocenter.informationbuilders.com/TLs/TL_soa_ebiz_swift/source/intro_swift9.htm A Brief History of SWIFT]
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[[Category:Banking]][[Category:Economics]][[Category:International Relations]]
[[Category:Banking]][[Category:Economics]][[Category:International Relations]]