The delegation of the National Bank of Georgia headed by Mr. George Glonti, Vice-President of the National Bank of Georgia, took part in the SWIFT (Society for Worldwide Interbank Financial Communication) Annual Congress and Sibos Exhibition hosted by Copenhagen, Denmark on September 4-9.  At the congress the National Bank of Georgia signed a Memorandum of Understanding with SWIFT.   At the exhibition about 200 financial institutions presented their latest achievements and new technologies in the context of customer services and cost reduction. The world leading banks such as Dresdner Bank, American Express Bank, The Bank of Mitsubishi etc., are the users of the technological products of the companies, which participate in the forum. More than 5000 representatives of the banking/financial sector attended the SWIFT meeting in Copenhagen this year.   According to Mr. George Glonti, Vice-President of the National Bank of Georgia, the delegation of the National Bank of Georgia had a business meeting with the employees of the software manufacturing companies (Logica, Montrani and CMA), which showed interest in the condition of the Payment System in  Georgia. On behalf of these companies they expressed a wish to visit Georgia and render assistance in the development of the Payment System of   the country.   7500 financial institutions of 200 countries worldwide are connected to SWIFT. The  National Bank of Georgia has joined the SWIFT system since 1996. At present 19 commercial banks in Georgia, which make transfers individually, use Swift service.