Sepam
SEPAM, electronic financial messaging system, has been implemented for computerizing the banking message interchanges and for creation of an integrated infrastructure for banking services. When fully in operation all banking systems can be inter-connected under standard protocols with communications, correspondence and interchanges among banks and CBI can be conducted on electronic and secured platforms and above that CBI supervisory tools on these interactions can be implemented as part of the scheme’s functionalities. SEPAM not only considered the first national financial messaging infrastructure which handles major banking transactions such as Rial and foreign exchange documentary credits, bank guarantees, foreign exchange remittances, correspondence, enquiries and negotiations on a single platform, but it is also capable of being connected to cross-border foreign banks for financial interchanges with a common language and supported by the latest technology while eliminating the need for using SWIFT with concerns associated with it.
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