Translation. Region: Russian Federal
Source: Central Bank of Russia –
An important disclaimer is at the bottom of this article.
Law, which extends the experiment in partnership financing, also provides for the improvement of its mechanisms. The law was adopted by the State Duma and approved by the Federation Council.
The experiment will be carried out from September 1, 2023, on the territory of Bashkortostan, Dagestan, Tatarstan and the Chechen Republic. It was initially announced for two years.
The law expands the list of partnership financing operations, including opening accounts by banks that have the appropriate license. The list of operations also includes mutual insurance.
A special committee will be created to approve standards for partner funding. Companies should indicate in their advertising that they are participants in the experiment.
In addition, the list of grounds for refusing to include organizations in the register of experiment participants is being expanded, as well as the list of grounds for exclusion from it. This will reduce the risks of unscrupulous companies participating in the experiment.
The purpose of the law is to create a more correct and uniform provision of partnership financing services, to increase the transparency and attractiveness of the experiment, including for foreign investors.
Preview photo: Ele Sviridova / Shutterstock / Fotodom
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