The government of the Russian Federation has approved the main directions of development of financial markets

The government of the Russian Federation has approved the main directions of development of financial markets


MOSCOW, March 3. The government of the Russian Federation has approved the main directions of development of henrykow, the Central Bank will make the final document before 30 may 2016. This was announced at a government meeting Russian Prime Minister Dmitry Medvedev.

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“Take note of the report of the Chairman of the Central Bank, the project of the basic directions of development of the financial market approve. The Ministry of Finance and other Federal Executive authorities together with members of the government with the participation of Bank of Russia, will need to entrust the finalization of the action plan on financial market development and, as proposed in the report to may 30, 2016 to submit to the government in the prescribed manner”, – he instructed.

As previously reported, the priority objectives of the new strategy identified increasing the level and quality of life of citizens of the Russian Federation, the growth and development of the real sector of the Russian economy and creation of conditions for growth of the financial industry.

The strategic document provides for the operation of the regulator on such key areas as the protection of rights of consumers of financial services, ensuring financial inclusion and improving financial literacy of the population.

Among the measures planned by the Bank of Russia, – the inclusion of a course in financial literacy mandatory in school curricula, the establishment of the Institute of financial Ombudsman, which will settle financial disputes with participation of citizens and financial organizations, as well as the creation of specialized financial products and services for different population groups and explanation of how to use these products.

The Bank of Russia on February 26 sent to the President of the Russian Federation and the government the first strategic document on the development of the financial market of the Russian Federation for the period 2016-2018,

The document was approved by the Board of Directors of the Bank of Russia on February 19. Its first version was published on the regulator’s website in December 2015.

With the aim of finalizing the Bank of Russia in late 2015 and early 2016 discussed the draft with interested ministries and departments. In addition, to obtain feedback, the Bank of Russia conducted in January-February a series of discussions with representatives of the financial market in Moscow, St. Petersburg, Nizhny Novgorod, Yekaterinburg, Novosibirsk, Vladivostok, Rostov-on-don and Krasnodar.

It is planned that after the approval of the government the finalized document will be submitted to the state Duma.