MOSCOW, May 26. /TASS/. The Bank of Russia authorized financial institutions to make contracts with nonresident banks without legalization of official foreign documents supporting their status, the regulator said.
"Financial institutions will be able to enter into agreements with nonresident banks without legalization of official foreign documents evidencing their status. The Russian Ministry of Justice has registered such instruction of the Bank of Russia," the Central Bank said.
The new instruction primarily simplifies the procedure of opening bank accounts for foreign clients because it makes easier to identify and interact with such clients, the Bank of Russia said.
"Financial institutions will require legalization of documents evidencing their status from all other foreign customers - legal entities and unincorporated entities, only in case doubts arise as regards trustworthiness or accuracy of documents provided, or suspicions are in place that the customer enters into the agreement for money laundering or terrorism financing operations," the regulator added.