SWIFT
SWIFT
Socitey for Worldwide Interbank Financial Telecommunication (SWIFT) was founded 1973 by 239 bank in 15 countries. Their objective was to establish and operate a worldwide financial messaging network in which messages are securely and reliably exchanged between banks and other financial institutions.
The first message was sent 1977 and 30 years later 13.7 million messages on average are delivered daily through the network. There are currently 8282 members of SWIFT operating in 208 countries.
Further information on SWIFT can be found at www.swift.com.
Iceland became a member of of SWIFT in June 1988. As of this day the following financial institutions: Arion, Glitnir, Kaupthing bank, Landsbanki, Icebank, Central Bank of Iceland and Straumur are all members of SWIFT.
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The National Member Group comprises all of a nation's SWIFT shareholders, and proposes candidates for election to the SWIFT Board of Directors. It serves in an advisory capacity to the Board Directors and SWIFT management and serves the interests of the shareholders by coordinating their views. The National Member Group is chaired by a Chairperson elected by SWIFT shareholders of each particular nation.
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The National User Group comprises all SWIFT users within a nation and acts as a forum for planning and coordinating operational activities. The user group is chaired by the User Group Chairperson who is a prime line of communication between the national user community and SWIFT.
National Member Group is currently being chaired by Delia Howser from Kaupthing Bank while the National User Group is being chaired by Auður Bjarnadóttir from Landsbanki.
Other members of the board are Oddur Rúnar Oddsson from Icebank, Erla Árnadóttir from the Central Bank of Iceland, Salome Birgisdóttir from Arion and Jón Þórðarsson from Straumur.
Applications for membership in SWIFT are administered on their home page www.swift.com.
