Russia Initiates SBP Transfers to Five Countries

28 November 2023

Transfers through the fast payments system (SBP) have become available for Russians to five countries. Among these countries are Uzbekistan, Tajikistan, and Belarus, according to Alla Bakina, the Director of the Department of the National Payment System of the Central Bank of Russia. Bakina highlighted that SBP is actively developing its international direction, and cross-border interaction depends on the willingness of the other party. Currently, transfers from abroad to Russia are operational, but from one country so far.

 

Various banks in Russia, including VTB and Alfa Bank, are offering SBP transfers to select countries. For instance, Alfa Bank's application lists four countries where money can be transferred via SBP, namely Belarus, Kyrgyzstan, Tajikistan, and Uzbekistan. VTB's press service mentioned that the bank's clients can send money to four countries without specifying which ones. The list of foreign financial organizations where SBP transfers are possible is continuously expanding. Other banks, such as Rosselkhozbank, have reported plans to implement international transfers through SBP, with Pochta Bank planning to introduce the service in the first quarter of 2024.

 

 

GSV "Russia - Islamic World"

Photo: Public Domain

Based on materials from TASS