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Russia preparing draft law granting foreign banks access to Mir payment system — media

January 19, 9:52 UTC+3 MOSCOW
According to another source, one of amendments being developed is aimed at granting to foreign lenders the right to receive the status of settlement banks within the Mir system
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© Anton Novoderezhkin/TASS

MOSCOW, January 19. /TASS/. Russia’s Central Bank is working at amendments to the law "On national payment system" aimed at expanding the number of participants and settlement banks within the national payment system Mir by attracting foreign lenders, Kommersant business daily reported on Tuesday with reference to sources in the banking sector.

"First, the issue is about expanding the list of participants within the Mir payment system by granting access to the system to foreign banks and payment systems, which is not specified by the current legislation," one of the sources said. According to the information published on Mir website, it has 39 participating banks now, though there are no foreign lenders among them. The amendments could enable not only Russian but also foreign banks to issue and accept Mir cards, the source said.

According to another source, one of amendments being developed is aimed at granting to foreign lenders the right to receive the status of settlement banks within the Mir system.

Earlier representatives of Russia’s Central Bank have repeatedly announced the plan to cooperate with other countries, the Customs Union in the first place, within the Mir system. Cooperation was expected to be launched in 2016.

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