On December 6, 2022, FinU hosted a joint meeting of the Council for the Development of the Financial Market under the Federation Council of the Federal Assembly of the Russian Federation and the Financial University under the Government of the Russian Federation on the topic “Role of the Financial Sector in Ensuring Economic Development and Technological Sovereignty of the Russian Federation”, which was held by Deputy Chairman of the Federation Council Nikolay Zhuravlev.
The event was attended by First Deputy Chairman of the Bank of Russia Vladimir Chistyukhin, Deputy Minister of Finance of the Russian Federation Alexey Moiseev, President of the RSPP Alexander Shokhin, representatives of the Financial University under the Government of the Russian Federation and the professional community.
The meeting participants were welcomed by Stanislav Prokofiev, FinU Rector.
In his welcoming speech, Stanislav Prokofiev expressed gratitude for the opportunity to hold the event at the FinU, noting that this format allows students and teachers to see the process of forming the country’s financial policy.
The Rector also added that the FinU experts take part in the preparation of its elements, and the formation of technological and financial sovereignty and the development of financial markets based on their own strength and capabilities are among the most important priorities in the university’s research.
Deputy Chairman of the Federation Council Nikolay Zhuravlev pointed out during the meeting that financial organizations not only survived on their own, but also ensured the implementation of anti-crisis measures to support citizens and businesses. In addition to system solutions, operational measures were also introduced – relief on loans with a floating rate, credit holidays for businesses and for participants of the special military operation, currency regulation was relaxed, and a number of others.
“The focus of our constant attention is how to protect the rights of financial services’ consumers. Our previous meeting was devoted to this very topic. According to its results, the most important laws have already been adopted or are close to adoption – on the preservation of the subsistence minimum when collecting debts, a ban on writing off social payments, credit holidays, a new procedure for calculating the full cost of the loan and a number of others. We have recently launched a project on financial literacy, which parliamentarians are engaged in locally, in their regions.”
According to the senator, the issue of social banking tariffs for poor citizens is on the agenda.
Nikolay Zhuravlev stressed that today there is a common task to ensure the economic transformation. This requires investment incentives – the return of the state guarantees’ institute, the taxonomy development of technological sovereignty projects and modernization of the economy in addition to the already familiar lists. In this regard, banking regulation should also become stimulating. We will also have to strengthen the capital market role, the development of which has not been so active in recent years.
“It is important to develop affordable domestic near-financial infrastructure: audit and information agencies, national ratings. To introduce a domestic transparent system of price indicators. Such a bill is already in a high stage of readiness and will be submitted by us in the near future,” Nikolay Zhuravlev said.
