Business in the Middle East for Swift, one of the world's leading providers of electronic payment systems, outperformed the rest of the globe by nearly half last year as greater numbers of banks and companies signed up to the service.
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The pickup in activity in the region came despite the impact of 30 Iranian banks being barred from using its service and a dip in demand in some countries hit by the Arab Spring.
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"The Middle East region is a vital market for Swift. It has outperformed our other regions and contributes significantly to the growth of our business globally," said Gottfried Leibbrandt, the chief executive of the Society for Worldwide Interbank Financial Telecommunication, to give Swift its full name. "We are excited with the growth potential this market can bring to Swift and are bringing more resources, services and opportunities to the local financial community."
Read more: http://www.thenational.ae/business/technology/fast-profit-for-swift-as-middle-east-leads-way#ixzz2K9yLwrKC
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