IBU Executive Board finds no grouns to suspend Russia's biathlon teamSport January 21, 22:53
Russia terrified watching monuments destroyed in Palmyra — culture ministerRussian Politics & Diplomacy January 21, 17:08
Russian bombers deliver successfully strikes on terrorists' facilities in SyriaWorld January 21, 15:39
Denmark uses Russian data in its application for expanding shelf — ministerBusiness & Economy January 21, 15:15
Agreement on bases in Syria to serve strengthening of stability in Middle East — MPRussian Politics & Diplomacy January 20, 21:18
Trump's inaugural address: When America is united, America is totally unstoppableWorld January 20, 20:57
Hermitage chief: New Palmyra destruction comes across as militants' vengeanceRussian Politics & Diplomacy January 20, 20:29
Russia's first deputy PM wants to keep current tax system for next political cycleBusiness & Economy January 20, 19:53
Russia’s Shipulin clinches gold in 20km individual race of IBU World Cup stage in ItalySport January 20, 19:18
ST. PETERSBURG, June 18. /TASS/. An analogue of the SWIFT payment system for the countries of the BRICS, a loose association of Brazil, Russia, India, China and South Africa, may be an alternative to the international system but it may well cooperate with it, Sergei Katyrin, the President of the Russian Chamber of Commerce and Industry, told TASS.
"I think it is a realistic project, which may be seen as a rival to SWIFT. But this system should be capable of integrating and working along with SWIFT," he said. "I think this project should be tackled not only from the point of view of operating within the BRICS but also with the rest of the world."
He said that at the initial stage, this project would not override SWIFT but in a span of ten to fifteen years when the BRICS countries were among the leading ones this project would be capable of being a certain alternative to SWIFT.
"But I think it will take years. It takes rather serious economies. Besides, banks are to recognize this system, to work with it. We do not want to isolate ourselves, the five or six of us, to work in this system, while all others work in another one. It should be system capable of being integrated," Katyrin said.