Aleo Christopher: 'To facilitate Ukrainian users we have introduced a Zero Fee policy on all commissions for Ukrainian customers for one year'

LUGANO, SWITZERLAND, September 12, 2022 /EINPresswire.com/ -- The horrible war started by Russia against Ukraine is shocking the whole world, but especially a country of over 44 million inhabitants, to which it has not only brought death and destruction. More than a third of Ukrainian industries are at a standstill, and prices, especially for fuel and bread, have risen fivefold. A record number of Ukrainians are out of work. The cost of a kilo of bread has risen from 50 euro cents before the war to over 4 euro today. The humanitarian emergency that is ripening before our eyes cannot leave anyone indifferent. Even the world of economics, finance and business cannot remain indifferent. For Aleo Christopher, managing director of iSwiss, which employs many people from Ukraine in its offices, it is necessary to start rebuilding now and get out of the horror of such a war, creating the conditions for the rebirth and development of the Ukrainian business environment.

"The financial system can and must make a fundamental contribution to the reconstruction of Ukraine by enabling local producers to receive and make payments worldwide, instantly and cost-effectively. Indeed, to facilitate Ukrainian users, who surely have other problems right now, we have introduced a Zero Fee policy on all fees for Ukrainian customers for one year," says Aleo Christopher.

iSwiss also presented the Ukrainian version of its app with several services that will be permanently integrated soon. The iSwiss app represents a small revolution for Ukrainian entrepreneurs. Ukrainian banks in fact only use the SWIFT system and a network of correspondents to make transfers and transactions outside Ukraine. They are not connected to the SEPA or TARGET2 system massively used by European banks. This means that a transfer to and from Ukraine takes an average of 10 days to be processed, and the costs are very high: commissions for a few tens of thousands of euros can be as high as EUR 150 per transaction.

"In the global world, physical infrastructure, such as highways and railways, on which goods and people travel, must be accompanied by efficient financial infrastructure, which allows entrepreneurs to collect and pay their suppliers in China or Europe. That is why the reconstruction of Ukraine will have to pass - also through the reconstruction, and integration, of the national financial system with the global one. "Furthermore, " continues iSwiss CEO Christopher Aleo, "our research centre is confident in Ukraine's well-deserved and speedy entry into the European community and in its firm intention to open new offices in this country. "

Andrew Anderson
Euronewspress JSC
press@euronewspress.com