Banking services in Russia

in Russia: theory and fact. Do they differ?

and in prolonging bank operations for companies.

money.

services.

services. Specific services include:

bank on deposit.

While keeping money for its clients, the

bank pays them interest.

clients and receiving, in exchange interest rates on those loans.

Credit operations are the main operations of a bank.

in transfer payments. Banks can open different account numbers for

their clients and can fulfill their payment orders related to buying or selling goods, paying wages, transferring tax payments and making all other important payments.

many of them, such as:
intermediary services;
giving guaranties and collateral;
providing accounting

help to the companies;
presenting the clients’ interests in the court;
tourists services etc.

how to raise their money supply. They have decided to

do it in a real new Russian style: if people do not want to give them their money, the banks will force them to do it.

non traditional operations
Payment operations in private sector:
no transferring of

the money allowed
Payment operations for companies:
all operations through the central bank
time delays are allowed by the law
payments abroad are through custom checks
Credit operations in private sector:
maximum term of loans is 10 years
Cash operations:
time delays are allowed by the law
Additional operations:
only the central bank has the license for operations with gold, precious metals and ingots
tax-agencies register and check currency operations

it has to conform to the standards and try to

approximate the generally accepted level. As we can see from the facts, however, Russia is yet far away from the accepted standards and the real practice of the Russian banking services is different from what it should be according to the Russian law and theory of the banking system.

wants to see a stable economy in Russia.