Scrutiny different approaches to the Nafisabil rule and its implications for international financial messagers and comparing alternative Swift solutions to meet this rule
Document Type : Research Paper
Authors
1 M.Sc. Student of Islamic Education and Economics, Faculty of Economics, Imam Sadiq University, Tehran, Iran
2 PhD in Economics, Faculty of Economics, University of Tehran, Tehran, Iran
Abstract
After the Islamic Revolution and the continuation of the hostile approach of the enemies especially the USA, Iran also had to prepare and confront in all areas. In the economic sphere, the USA in the first years of the revolution put Iran under the pressure of its sanctions, and began extraterritorial sanctions against Iran in 1984, which took effect in 1996 due to legal obstacles. However, most of Iran's sanctions were imposed in 2010, and the monetary and financial system, especially Iranian banks and the Central Bank of Iran, were added to the sanctions list. Swift messengers help facilitate international business transactions by accurately recording financial transaction information. US access to Swift's non-European data center and oversight of all of Iran's international financial transactions have facilitated the imposition of sanctions and the recognition of some bottlenecks to circumvent sanctions. Therefore, Swift can be considered as the most important tool in the hands of the USA to monitor the implementation and exertion of hostile sanctions against Iran. This article, which is based on the analytical-library method written, we intend to evaluation different approaches to the Nafisabil rule, to show in which view the use of centralized international financial messengers, including Swift, can lead to a violation of the Nafisabil rule. Characteristics of decentralized messengers, based on DLT such as blockchain, we will show how these messengers help to implement the Nafisabil rule in the trade relations of the Islamic Republic of Iran by preventing the aristocracy and supervision of the USA.
Keywords
Holy Quran
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