Bank reform takes on new urgency

The mini bank crisis Russians faced in the summer has underscored the urgent need for bank sector reform and the creation of a system that can respond to the credit needs of businesses and individuals.

The foreigners are coming

Cabinet defines new banking sector strategy

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THE PARALYSIS OF parts of Russia’s banking system has wreaked havoc on some of the minority of Russians that have accounts.

“I don’t know what to do,” says Dinar Akhmetov, who runs his own tax consultancy. “I have to pay about $10,000 to the tax authorities on behalf of my clients this week but all the money is in the bank and the most they offered me was $100 until this month.

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