The Society for Worldwide Interbank Financial Telecommunication (Swift), has cancelled its annual international banking and operations seminar (Sibos) because of "current global security concerns".
The annual interbank conference and exhibition was due to take place next week in Singapore. The decision to abandon the show, which attracts 3000 delegates and over 200 exhibitors, marks a sudden reversal of policy for the Swift board - which has been sending out reassuring messages to the back office community - and follows the US-led bombardment of Afghanistan.
The Society emphasises that the decision to cancel does not reflect "in any way" concerns about safety and security in Singapore.
In a notice posted on the organisation's Web site, Swift states: "The fundamental role of Swift and its community is to ensure the security, reliability and continuity of the global financial system. Our paramount responsibility is to ensure that operations continue in our respective headquarters and offices worldwide."
Further information regarding cancellation procedures for delegates and exhibitors will be advised by Friday, 12 October 2001.