Central Banking

Bank of Russia presses ahead with rating agency plans

Elvira Nabiullina

Russia is closing in on its own electronic payment system and financial ratings agency, Bank of Russia governor Elvira Nabiullina told the country's president Vladimir Putin in a meeting on August 10.

Nabiullina revealed an operations and clearing centre is already up-and-running, while there are plans to issue a 'national payment card' from December.

The central bank will start with a "pilot project" before issuing "around 30 million" national cards in 2016, Nabiullina told Putin, noting Russia

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