Kazakh foreign minister denies talks on sending troops to SyriaWorld June 23, 8:05
Russian fighters scrambled 14 times in past week to intercept foreign aircraft — ministryMilitary & Defense June 23, 6:17
EU summit participants show unity on anti-Russian sanctions — MerkelWorld June 23, 4:11
Moldovan parliament refuses to hold no confidence vote in Foreign Minister Andrei GalburWorld June 23, 2:03
Google.ru’s temporary ban should serve as reminder to others — lawmakerBusiness & Economy June 23, 1:59
Russian lawmaker slams EU’s decision to extend sanctions on Moscow as absurdRussian Politics & Diplomacy June 23, 0:32
IOC spokesperson confirms Bach’s words about possible sanctions on RussiaSport June 22, 23:27
Germany-Chile Confederations Cup encounter in Kazan ends with 1-1 drawSport June 22, 23:12
Putin praises Moscow International Film FestivalSociety & Culture June 22, 21:49
MOSCOW, March 05. /ITAR-TASS/. The Central Bank of Russia (CBR) has issued a decree on March 5, 2014 revoking a license for banking transactions from the Kemerovo-based lending organization Bank of Business Development, the financial regulator said in a statement.
The Bank of Business Development is a member of deposit insurance system.
The decision to impose an extreme restriction revoking a license was taken by the CBR over numerous violations of requirements under Article 7 (except for Clause 3 Article 7) of the federal law on counteraction to money laundering and terrorism funding.
The financial regulator noted that the bank had broken legislative requirements in counteraction to money laundering and terrorism funding in submitting information in an authorized body about transactions subject to compulsory control and proper identification of its clients.
The internal control rules in the Bank of Business Development did not meet the CBR requirements. Meanwhile, the crediting organization was involved in major dubious cash and non-cash transactions. The volume of these transactions has reached 4.8 billion rubles (around $132.1 million) in 2013.
Provisional administration is appointed in the bank until a bankruptcy manager or a receiver is named. Powers of executive authorities of the lending organization are suspended according to federal laws.
As for the size of assets, the crediting organization was ranked at the 790th place in Russian banking system as of February 1, 2014.