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Finance Ministry is for allowing promptly time deposits - Siluanov

The finance minster stressed the bill is very significant for the resource base of Russian banks

Photo ITAR-TASS

Photo ITAR-TASS

MOSCOW, March 21 (Itar-Tass) — Russia’s Finance Ministry is for reiterating discussion of time deposits, Finance Minister Anton Siluanov said on Wednesday.

“The bill, which has been with the government for several years now, was discussed rather actively,” he said. “We as the finance ministry are for having such deposits allowed.”

Siluanov explained that a client should have a right to choose, whether to receive a high interest but only after the term of the deposit agreement, or to receive a smaller interest and to terminate the agreement at any time.

“I am convinced that deposits of the kind should be introduced as soon as possible, and we as the finance ministry will raise the question of reiterating the bill and will promote it,” he said.

The finance minster stressed the bill is very significant for the resource base of Russian banks.

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