Date: Oct 18, 2010 10:43 AM. SWIFT turning away Cuban banks. Access to the SWIFT interbank system may become difficult or impossible for Cuban banks as of March 31, 2012, Cuba says in its annual report to the United Nations about the economic impact of U.S. sanctions.">Date: Oct 18, 2010 10:43 AM. SWIFT turning away Cuban banks. Access to the SWIFT interbank system may become difficult or impossible for Cuban banks as of March 31, 2012, Cuba says in its annual report to the United Nations about the economic impact of U.S. sanctions.">

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SWIFT turning away Cuban banks

Date: Oct 18, 2010 10:43 AM. SWIFT turning away Cuban banks. Access to the SWIFT interbank system may become difficult or impossible for Cuban banks as of March 31, 2012, Cuba says in its annual report to the United Nations about the economic impact of U.S. sanctions.

The SWIFT financial transmission system plays a crucial role in international banking transactions.

According to the Cuban report, the Belgium-based Society for Worldwide Interbank Financial Telecommunications SCRL (SWIFT) told the Banco Central de Cuba (BCC) that a new version of the software participating banks must use will not be available to Cuba because it includes U.S. technology and components subject to sanctions under U.S. laws. SWIFT will introduce the 7.0 version of its SAA software on March 31, 2012.

Paul (pablo) Evrard, Belgica Infocuba, +32-16-261552

Source: Yahoo Group, Walter Lipman

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