Russian representative to join SWIFT board of directors

Today, the publication of RBC reported that a representative from Russia will join the board of directors of the international SWIFT system. This decision was made by the management of the system due to the active growth of payment traffic in Russia through SWIFT.

According to the executive director of the association "Rosswift" Roman Chernov, according to the results of last year, Russia ranked 13th in the world in terms of the payment traffic of the system. This allows the country to nominate its own candidate to the board of directors.

Most likely, the representative of Russia will replace the post of a member of the board of directors of the system with a representative of Hong Kong, who has shown the worst results. Note that the redistribution of shares among the countries participating in the system occurs once every three years, in proportion to the country's payment traffic in SWIFT. Accordingly, last year 10% of shares were redistributed, which was the reason for changes in the composition of the board of directors.
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According to Alma Obaeva, Chairman of the Board of NP National Payment Council, the introduction of a Russian representative to the board of directors does not reduce the likelihood of a country becoming disconnected from SWIFT. Nevertheless, the representative of the Russian Federation will be able to influence the decisions of the system relating to the introduction of new standards, the improvement of service and tariff setting.