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14-04-09
Total Volume of Russian Market of Digital Content will Double to 2011

According to J&P Consulting research, total volume of Russian market of digital content will double from USD2.5 billion in 2008 to USD5 billion in 2011.

13-04-09
Moscovite’s Social Card will be Used as Driving License?

According to Moscow Mayor Yury Luzhkov, Moscovite’s Social Card could be used as driving license in future. Moscow Mayor said that corresponding agreement exists already.

08-04-09
Russian Parliament Council will Establish Mediation Committee on Bill about Payment Agents

According to Speaker of Russian State Duma Boris Gryzlov, State Duma Council will make decision on the bill “About Payment Agents Activity of Consumer Payments Acceptance” declined by the Federation Council during a week.

08-04-09
Mortgage Loans in Russia Significantly Reduced

Russian banks in fact stopped granting mortgage loans. According to Bank of Russia, financial institutions granted only RUR8.5 billion of mortgage credits to the population in February, 2009.

07-04-09
Russia's Central Bank should Reduce Refinancing Rate

According to the President of Association of Russian Banks (ARB) Gagerin Tosunyan, Russian banking community will insist on reducing of refinance rate to increase credits’ availability.

01-04-09
Senators Declined Bill “About Payment Agents Activity of Consumer Payments Acceptance”

Russian senators declined the bill “About Payment Agents Activity of Consumer Payments Acceptance” on April, 1, 2009.

01-04-09
New Electronic Signature Law is under Preparation in Russia

It emerged that the law About Electronic Digital Signature passed in 2002 contravenes the Russian legislation and international practice.

30-03-09
Putin about Possibility of “Building-and-Loan Associations” Creation

Vladimir Putin, Prime Minister of the Russian Federation offered to consider a possibility of “building-and-loan associations” creation.

26-03-09
Russian Ministry of Finance Expects the Second Wave of Problems in Financial System

Ministry of Finance of the Russian Federation expects the second wave of problems in financial system connected with credit defaults in real economic.

25-03-09
Ministry for Economic Development and Trade of Russia about Debt Restructuring Bill

Ministry of Economic Development and Trade of the Russian Federation considers that it’s necessary to work out legal mechanisms, which allow restructuring debts of consumers who have no opportunity to repay credits by reason of salary or part of income lost.

19-03-09
Standard Requirements for Terminals are Prepared

National Association of Electronic Commerce Members (NAUET) prepared list of required information, which must be included in receipt, generated and printed by electronic payment terminal as a result of payment transaction, and payment terminal’s interface.

16-03-09
Eurasian Economic Community Plans to Introduce Common Currency

The President of Kazakhstan, Nursultan Nazarbayev offered to introduce the commoncurrency 'euraz' for Eurasian Economic Community countries. He supposes that this currency rate would not depend on world currency fluctuations.

12-03-09
E-commerce Market’s Volume Totaled RUR128.31 Billion in Russia

Press conference dedicated to presentation of National Association of Electronic Commerce Members’ (NAUET) report “Situation in electronic commerce in Russia in 2008” was held in Moscow.

05-03-09
Miljukov: Volume of Credits’ Non Repayment Grew by 50% – 60% in 2008

According to Vice-president of Association of Russian Banks (ARB) Anatoly Miljukov, the total volume non repayment of credits increased by 50% – 60% in 2008.

04-03-09
40th Anniversary of Russian Payment Card Industry

On March, 3, 2009, Gala Night devoted to 40th anniversary of Russian payment card industry (40th anniversary of the first banking cards’ appearance in the USSR and then in Russia) was held in President Hotel Moscow.

03-03-09
“Bad Bank” May Appear in Russia

Member of the board of directors of VTB Capital and former Chairman of Central Bankof Russia Sergey Dubinin supposes that it’s necessary to create a specialized fund to buy up troubled assets.

03-03-09
Prosecutor-General's Office of Russia: Collectors Will be under Special Supervision

According to the Prosecutor-General's Office of Russian Federation, rough law violation in collector agencies activity became more frequent in the regions of Russia.

27-02-09
Mobile Penetration Reached 134% in Russia

According to J'son & Partners, the quantity of SIM cards that were registered in Russia grown to 189.9 million in January, 2009.

26-02-09
Russian Ministry of Finance Estimates Non Repayment of Credit for Largest Banks

Ministry of Finance of the Russian Federation estimates non repayment of credit  for thirty largest Russian banks as 10% of the total credit portfolio volume in 2009.

24-02-09
Plastic Cards’ Popularity Decreases

Central Bank of Russia reported that in Q4 2008 the total volume of transactions reduced by almost 4% to RUR214.8 billion compared with Q3 2008, and the number of transactions increased by 2.7%.
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