MIFC: Key Facts

A source of basic facts about the International Financial Centre in Moscow

Task Assignments

06.12.2011 / Moscow

Task Assignments given by the President of the Russian Federation following the MIFC International Advisory Board session
on 28 October 2011.

Events Calendar

May 2019

Media Coverage

29.01.2014 / Interfax

Russia #3 Worldwide in Foreign Direct Investment

FDI in developing and transitional economies hit record highs in 2013, according to United Nations Conference on Trade and Development (UNCTAD) report.

06.04.2013 / Kommersant

Central Bank Builds Financial Center

FFMS merger with the CB will significantly improve regulation – as expected by reform participants and instigators alike. Yesterday the Bank of Russia, FFMS and Minfin reps made a public presentation of the financial megaregulator, as the process has entered implementation stage. In the meantime, MIFC mastermind Alexander Voloshin sees the future unification of oversight as a key milestone for Moscow as International Financial Center.

29.01.2013 / Interfax

MIFC Location to be Determined by Workgroup

Russian Prime Minister Dmitry Medvedev is planning to establish a workgroup to determine the location of Moscow International Financial Center (MIFC) infrastructure.

Our progress / Hot Topics

Trading infrastructure

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Clearstream and Euroclear to Gain Access to Russian State Bonds in 2012, Corporate Bonds and Shares in 2013, says Ministry of Finance

07.06.2012 12:14 / Interfax

International central depositaries Clearstream and Euroclear will be granted access to the Russian state bonds market this year and to corporate bonds and shares next year, said Deputy Director of Sovereign Debt and Financial Assets at the Ministry of Finance Peter Kazakevich at the Uralsib Capital Bonds Conference.

He says that the decision was made by the government following consultations with the Federal Financial Markets Service (FFMS) and the Central Bank of Russia.

“The decision has been made to open the state bonds market to foreign depos in the nearest future, literally in a few months after the central depositary has been registered, which means this year. Other instruments – corporate bonds and shares – will become available next year”, said Deputy Head of Department at the Ministry of Finance.

Kazakevich admitted that allowing foreign market players access the Russian market may ultimately drain some liquidity from Russia, however it will be compensated by a far greater inflow. “As for liquidity drain, the Ministry of Finance and the Central Bank consider these fears overrated. Yes, this is a two-way street, a certain drain could take place, and yet we see far more liquidity coming in”, he said.

He also stated that currently there are foreign speculators in the Russian market “taking advantage of the loopholes in the infrastructure”.

“In our opinion, if we make the market simple and comfortable, this will attract conservative long-term investors and prevent a surge in volatility”, says Kazakevich.

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