CIS needs one single paying system
The Commonwealth of Independent States needs one single paying system working in a real time regime. In this regard the members of CIS are intended to ditch the US dollar in settlements among one another; Rossiyskaya Gazeta quoted Igor Suvorov, President of the CIS Interstate Bank.
According to him, ditching dollar and using national currencies in mutual settlements will reduce the cost of transferring money significantly. “The cost of transferring money will be reduced by dozens of times,” he said.
"Settlements between the CIS banks are made through the US or western European banks. Others from the faraway countries benefit from commission fees and transfers take up one to two days. There is a need for a single payment and settlement system. The CIS Interstate Bank may be an operator for this system,” he added.