Arab Today, arab today putin signs law banning opening of foreign bank branches in russia
Last Updated : GMT 15:18:37
Arab Today, arab today
Arab Today, arab today

Putin signs law banning opening of foreign bank branches in Russia

Arab Today, arab today

Arab Today, arab today Putin signs law banning opening of foreign bank branches in Russia

Moscow - Itar-Tass

Russian President Vladimir Putin has signed the law introducing a ban on the opening of branches of foreign banks in Russia, the Kremlin website reported on Friday. According to the amendments, the notion of branches of foreign banks is removed from the Laws “On banks and Banking Activity,” “On the Central Bank of the Russian Federation (Bank of Russia),” “On Currency Regulation and Currency Control.” The RF Government that proposed to introduce such a ban explains it by the impossibility for RF regulatory authorities to fully supervise operation of branches of foreign banks due to the fact that the order of functioning of branches of foreign banks does not fall within the jurisdiction of the Russian Federation. Such specifics of activity of foreign bank branches in the conditions of Russia’s WTO membership may negatively affect the competitiveness of Russian banks. The RF Government therefore considers it premature at the current stage to establish branches of foreign banks in Russia. This position was a condition of the negotiations on Russia’s accession to the WTO. However, the ban on the opening of branches of foreign banks in Russia is actually already in place because of the absence of the order of their registration, set by the Bank of Russia, and at the moment not a single branch of a foreign bank has been registered in Russia.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today putin signs law banning opening of foreign bank branches in russia Arab Today, arab today putin signs law banning opening of foreign bank branches in russia

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today putin signs law banning opening of foreign bank branches in russia Arab Today, arab today putin signs law banning opening of foreign bank branches in russia

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday