Bank of Russia Approves Road Map of Russian Financial Market
The document covers information on financial market development scheduled events, terms of their implementation and expected results. Some tasks are currently being accomplished or drafted; however, the greater part of events is scheduled to take place in 2017-2018. Work on some tasks never stops.
The road map includes both measures to develop individual segments and cross-sectoral events. For example, within Bank of Russia long-term activities to provide consumer rights protection and enhance financial literacy the annual plan includes topical workshops and conferences as early as in 2016. To solve such an important task as the enhancement of financial inclusion, according to the road map, in 2016, the regulator will start working on the concept of making bonded loans more accessible and developing project lending tools for medium enterprises strong enough to be classified as big ones.
The Bank of Russia is expected to continue developing such road maps on an annual basis. Besides, it will publish reports on the progress made.
The road map is aligned with the document called Key Activities for the Development of the Russian Financial Market in 2016-2018 drafted by the Russian Ministry of Finance jointly with interested departments and the Bank of Russia in accordance with the Guidelines for the Development of the Russian Financial Market in 2016-2018.