ACU meaning in Banking ?

Answer: What is Asian Clearing Union mean?

The Asian Clearing Union (ACU), with headquarters in Tehran, Iran, was established on December 9, 1974, at the initiative of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). The primary objective of ACU, at the time of its establishment, was to secure regional co-operation as regards the settlement of eligible monetary transactions among the members of the Union to provide a system for clearing payments among the member countries on a multilateral basis.

In October 2013, Iran unveiled a plan suggesting that members of the union – Bangladesh, Bhutan, India, Maldives, Myanmar, Nepal, Pakistan, Sri Lanka and Iran – employ a home-grown system developed by the Central Bank of Iran to get around SWIFT called SEPAM in Persian.

reference

Full Form	Category
Ajayi Crowther University, Ibadan	Academic & Science
Arizona Christian University	Academic & Science
Association of Clinicians for the Underserved	Academic & Science
African Christian University	Academic & Science
Atmospheric Control Unit	Academic & Science
Acquisition Control Unit	Academic & Science
Abilene Christian University	Academic & Science
Association of Commonwealth Universities	Academic & Science
Advisory Committee on Uranium	Academic & Science
Automatic Client Update	Accounts and Finance
Achutupo	Airport Code
Asian Clearing Union	Banking
African Copper (de-listed)	Business
Avantogen Ltd	Business
Acme United Corporation	Business
Allco Credit Union	Business
Alliance Credit Union	Business
Arrowhead Credit Union	Business
America's Credit Union	Community
Associated Credit Union	Community
Association of Commonwealth Universites	Community
Alabama Credit Union	Community
Allegiance Credit Union	Community
American Cuck Union	Community
Asian Cultural Union	Community
Access Control Unit	Computing
Acoustic Sensor	Computing
Address Control Unit	Computing
Arithmetic and Control Unit	Computing
Antenna Control Unit	Computing
Address Calculation Unit	Computing
Autodesk Certified User	Computing
Adobe Connect Update	Computing
Avast Cleanup	Computing
Auxiliary Control Unit	Computing
Automatic Call Unit	Computing
ACU Platform	Cryptocurrency
Acuity Token	Cryptocurrency
Armor Command Unit	General
Atheros Client Utility	General
Asset Containment Unit	General
Azure Compute Unit	General
Armored Command Units	General
Airman Combat Uniform	General
Air Cooling Unit	General
Air Compressor Unit	General
Azure Compute Units	General
Advanced Control Unit	General
Animal Care and Use	General
Agrupacion Catolica Universitaria	General
Autopilot Control Unit	General
Air Conditioning Unit	General
Airbag Control Unit	General
Automotive Communications Unit	General
Automovil Club del Uruguay	General
Auto Cycle Union	General
Alarm Control Unit	General
Audio Control Unit	General
Auto Crime Unit	General
Auto Centrale Utrecht	General
Army Comabt Uniform	Governmental
American Conservative Union	Governmental
Area Command Unit	Governmental
Ambulatory Care Unit	Healthcare
ACHUARA HALT	Indian Railway Station
Asian Currency Union	International
Asian Clearing Unit	International
Acute Care Unit	Medical
Annihilation Cell Units	Medical
All Completely Useless	Messaging
Area Common User	Military and Defence
Air Control Unit	Military and Defence
Arctic Command Unit	Military and Defence
Army Combat Uniform	Military and Defence
Assault Craft Unit	Military and Defence
Aironet Client Utility	Networking
Automatic Client Upgrade	Networking
Australian Catholic University	Regional
Asian Currency Unit	Regional
Array Configuration Utility	Softwares
Attitude Control Unit	Space Science
Arm Computer Unit	Space Science
Arm Control Unit	Space Science
Automatic Calling Unit	Telecommunication