The board of directors of Russia’s Central Bank has approved in the final version the document setting guidelines for the national financial market development in 2016-2018, the regulator’s press service reported. The decision was made at the board’s meeting on Thursday, May 26.
The document envisages measures on protection of rights of consumers, improving financial literacy of population, increasing access to financial services, combating unfair behavior on financial markets, development of bond market and syndicated loans etc.
“The implementation of measures envisaged by the document, depends not only on the actions of the Central Bank, but also on the well-coordinated work of ministries, Prime Minister, and the State Duma in terms of adoption of laws, the judicial system of Russia,” the regulator said in the statement.
Currently, Russia’s Finance Ministry together with the agencies concerned and the Central Bank is working on an action plan for the development of the financial market for the period 2016-2018 years, which is to be approved by the government.
At the same time the Central Bank is preparing a “roadmap” with the main activities for the development of financial market in 2016. This roadmap will contain specific objectives and actions of the regulator for the current calendar year.