IAAF approves application of three Russians to compete as neutral athletesSport February 24, 1:43
US lawmakers present no evidence of Russia’s interference in US election - Russian MPRussian Politics & Diplomacy February 23, 21:42
Russia to continue strengthen its Armed Forces - PutinRussian Politics & Diplomacy February 23, 21:37
4,000 Russian nationals fight among militants in Syria - PutinRussian Politics & Diplomacy February 23, 21:31
Opposition’s demand of Assad’s immediate resignation absurd - Russian envoy to GenevaRussian Politics & Diplomacy February 23, 16:34
Moscow celebrates Defender of the Fatherland DaySociety & Culture February 23, 16:19
ISS astronauts capture Dragon with manipulatorScience & Space February 23, 14:36
Vitaly Churkin’s body delivered to RussiaRussian Politics & Diplomacy February 23, 12:30
Ukrainian military shell Donetsk water purification plantWorld February 23, 11:45
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.