In the context of the International Banking fora, ‘SWIFT’ is
[A] A messaging network that financial institutions use to securely transmit information
[B] A Bank for International Settlements (BIS) programme to help member country-banks improve the quality and speed of Credit Appraisal Procedures
[C] A model policy of the International Monetary Fund which provides guidelines on ways and means to recover loans
[D] None of the above
Correct Answer: A [A messaging network that financial institutions use to securely transmit information]
Behind most international money and security transfers is the Society for Worldwide Interbank Financial Telecommunications (SWIFT) system. SWIFT is a vast messaging network banks and other financial institutions use to quickly, accurately, and securely send and receive information, such as money transfer instructions.
Which among the following is the only country to share a border with both Iran and Iraq?
Correct Answer: A [Turkey]