Central Banking

Bank of Russia presses ahead with rating agency plans

elvira-nabiullina
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

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