RT First Vice Premier Boris Pavlov takes part in international forum “Payments week”

On May 19 the RT First Deputy Prime Minister Boris Pavlov took part in the international forum “Payments week” and the third session of the CIS working group initiative on the stock market payment systems and accounts on the basis of the RT National bank of the RT Central Bank of the Russian Federation. The event was held in KRK “Korston”.

Representatives from Japan, Finland, the US, Brazil as well as from the Central banks of the CIS countries – Azerbaijan, Armenia, Belarus, Kazakhstan, and Ukraine took part in the work of the forum.

The main purpose of the event was to support activities and initiatives aimed at better efficiency, transparency and safety of the stock market payment systems and accounts in the CIS countries, strengthening the existing payment account systems.

Within the framework of the forum a wide range of pending issues such as modern tendencies and prospects of retail payment systems development, regulation and supervision of retail payment systems were considered. These themes were discussed among the representatives of the CIS national banks, foreign and Russian financial institutions and scientific circles.

Boris Pavlov reported on the influence of modern payment systems on financing innovative projects. He also said about development areas of the Tatarstan economy, its investment potential and innovative infrastructure.

Summing up Boris Pavlov invited all participants to further long-term and fruitful cooperation that will allow Tatarstan industry to introduce high-tech solutions and thus increase its production efficiency and competitiveness.

Representative of the National bank of Kazakhstan – the Director of department of payment systems, R.N.Musaev, the Director of department on development of financial and private sectors in Europe and Central Asia of the World Bank F.Montes-Negret, the Deputy Chairman of the Bank of Russia T.N.Chugunova, the Co-chairman of Committee on payment and account systems of the Bank of international accounts M.Hollanders, the leading specialist of financial sector of the Group of payment systems development of the World Bank, the chief coordinator of the Initiative of the CIS countries in the stock market payment systems and accounts of the World Bank M. Chirasino, the Deputy Head of the European Central Bank D.Reikhven and others also addressed the forum.