BRICS states working on their SWIFT alternative: Putin

EghtesadOnline: "This is the exchange of financial information among central banks. An alternative to SWIFT, the one supporting international settlements," the head of state said, TASS reported. 

Opportunities are also being explored of broadening the use of national currencies and creating instruments enabling to make this work safe, Putin noted.

"As I have already mentioned, we are considering an opportunity of using electronic instruments. [There is a] need and such work is underway - to establish relations between central banks and ensure reliable exchange of financial information that would be independent from those international instruments of financial information exchange that introduce certain restrictions for political reasons and violate principles of the global economy," Putin added. / Mehr