‘We need to move forward despite the problems’, banking forum kicks off in Kazan
The 19th Banks of Russia — 21st Century International Bank Forum organised by the Association of Regional Banks opened in Kazan on 22 September. Tatarstan President Rustam Minnikhanov, President and Board Chairman of VTB Andrey Kostin, Chairman of Promsvyazbank Pyotr Fradkov arrived to participate in it. Head of the State Duma’s Committee for Financial Market Anatoly Aksakov became the moderator.
State Duma speaker Vyacheslav Volodin sent his greetings to the participants. Andrey Kostin was congratulated on his birthday first, then Rustam Minnikhanov delivered his speech.
The forum was usually held in Sochi, but this year it was decided to host it in Kazan for the first time. The republic has big potential to develop the banking system. “It is necessary to move forward despite the problems,” noted Anatoly Aksakov.
Chairwoman of the Central Bank Elvira Nabiullina was expected to deliver a speech at the 19th Banks of Russia — 21st Century International Bank Forum. It became known on 21 September she wouldn’t come.
The head of the Bank of Russia is a regular of the forum. She has delivered reports and participated in panel discussions and sessions at least at the four last international banking forums.
It is “necessary to strike the balance” in information disclosure
On day one of the banking forum, on 21 September, a meeting of the Russian Council of Bank Associations and a panel discussion Partner Finances: the State and Development Prospects took place in Kazan. Adviser to the chairwoman of the Bank of Russia Alexey Simanovsky was the moderator.
At the meeting of the Russian Council of Bank Associations with representatives of the Central Bank and Finance Ministry, they discussed the supervision and risk-oriented stimulation of lending in the current conditions, conservation of the investment potential of the banking sector for the economy and interaction of banks with other financial market players.
President of the Russian Association of Banks Georgy Luntovsky pointed out two aspects going to the forefront: the search for resources to invest in the economy and information disclosure by banks and issuers.
“It is necessary to strike the balance between the occlusion of information not to push anybody to new restrictive measures. On the other hand, it is necessary to provide the market with enough information to be able to evaluate the financial situation of its participants. This will help the stock market to grow,” Luntovsky noted.
Later, during the press conference,hHead of the State Duma’s Committee for Financial Market and Chairman of the Council of the Association of Russian Banks Anatoly Aksakov said that a bill on an experiment on launching Islamic banking in some Russian regions including in Tatarstan was introduced to the State Duma.