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Russia’s Ministry of Finance to introduce digital ruble in 2023
The digital ruble will be used in the budgeting process. The ministry began to discuss the initiative with the Central Bank.
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Russia's international reserves rise to $548.7 bn over week
As of September 30, the international reserves amounted to $540.7 bn.
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Ministry of Finance wants to increase number of banks in Russia
Under the sanctions, the number of banking market players should be increased in order to reduce risks, Deputy Finance Minister Alexey Moiseev believes.
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Iran to integrate Shetab and Mir systems in 2-3 months
Tehran and Moscow will complete the integration of the Russian and Iranian payment systems “Mir” and “Shetab” within a few months, according to the Iranian news site Hamshahri Online, citing a statement by Iranian Minister of Economy and Finance Ehsan Khanduzi.
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Russians show greater interest in currencies of CIS and Turkey
The interest in the currencies of Armenia and Kazakhstan grew the most.
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Sri Lanka develops mechanism for Mir card adoption
According to Sri Lanka ambassador to Moscow Janita Liyanage, this issue is now being discussed with the central bank.
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Egyptian banks may start accepting Mir cards
This was reported by the newspaper Al Shorouk, citing sources in the economic and tourism sectors.
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Russia and Turkiye discuss using TROY payment system
Ankara and Moscow are discussing the possibility of using the Turkish payment system Troy as an alternative to Mir, the Turkish newspaper Aydınlık reports, citing sources.
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Import substitution of cybersecurity tools reaches 90%
The remaining 10% are already being developed, but the process is more time-consuming.
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Bank of Russia approved list of systemically important banks
The Central Bank of the Russian Federation, in accordance with Directive No. 5778-U of April 13, 2021 “On the Methodology for Determining Systemically Important Credit Institutions”, approved the list of systemically important credit institutions.
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Moscow Exchange may sell ruble-dollar pair trading business
The Moscow Exchange does not rule out a future scenario of selling its dollar-rouble trading operations as a separate business.
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VTB bank head Kostin proposed entire banking system to get configured to sanctions regime
“Our settlements must be immediately adjusted to politics when our financial institutions are under sanctions,” VTB president and CEO Andrey Kostin said at a panel discussion at the “Banks of Russia — XXI Century” forum.
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Russia’s Central Bank and Finance Ministry agree on draft law on using cryptocurrencies in cross-border settlements
The Bank of Russia and the Ministry of Finance generally approved a bill on the use of cryptocurrencies in cross-border settlements, Deputy Minister Alexei Moiseev said at the 19th International Banking Forum “Banks of Russia - XXI Century”.
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Sberbank to open first Islamic finance office in Kazan
Sber plans to open the first partner financing office in Kazan before the end of the year, Sberbank Senior Vice President Oleg Ganeyev told the fourth annual Russian Islamic Economic Forum held in Kaspiysk, Republic of Dagestan.
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Russia’s financial market to develop based on digital ruble
Currently, the issue of legalizing the digital money and cryptocurrency circulation is under a wide discussion in the country.
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Statements by Bank of Russia Governor E. Nabiullina in follow-up to Board meeting
On September 16, a regular meeting of the Board of Directors of the Bank of Russia took place. Below are the main theses.
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Russia’s central bank lowered key rate to 7.5%
The last time the key rate was cut by the regulator to 8% on July 22. The Bank of Russia Board meeting took a decision to reduce the key rate to 7.5%.
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Russia’s financial market to develop based on digital ruble
Currently, the issue of legalizing the digital money and cryptocurrency circulation is under a wide discussion in the country.
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Malaysia to accept Russian Mir cards
“We already see the success of Vietnam in this regard. However, Thailand and Myanmar, which are also working on the introduction of the Mir cards, have not yet solved this problem.
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Ministry of Finance and Central Bank support legalization of cross-border cryptocurrency settlements
As quoted by TASS with reference to an interview with Deputy Finance Minister Alexey Moiseev on Russia 24 TV channel.