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E-bulletin, January 2009
 E-bulletin, January 2009 — Download >
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The Meeting of the Expert Council on the Competition Protection at the Financial Services Market at the FAS Russia
On 21 January 2009 the Federal Antimonopoly Service hosted the meeting of the Expert Council on the competition protection at the financial services market at the Federal Antimonopoly Service (FAS) Russia (bank services market section).
The meeting topic was «Creation of equal competitive environment of allowing credit organizations to receive additional state financial resources to ensure banks' credit activity within the framework of financial market and economy branches support implementation of the Russian Federation. Providing credits availability for the small and medium-sized business entities within the framework of the RF financial market support implementation».
The meeting chairman - A. Kashevarov, Deputy Head of FAS Russia conceived the topic broader, paying attention to the necessity of sustainable financial market development, including its microfinance sector. The Association of Russian Banks (ARB) President G.Tosynyan expressed the point of view of banking community, he stressed out that the main crisis is a crisis of confidence. The problems of lowering tax burden on the small business, ratings and audit checks of economical position of banks and other financial-credit organizations issues were raised at the meeting. The issue of the interest rate on provided state resources caused heated discussion: already now there are negative examples when financial means given to several banks at 8%, were divided by them at much higher percents.
NAMMS President M.Mamuta emphasized to the meeting participants the necessity of the target-oriented flow of financial resources for microfinance support as a financial component of small entrepreneurship, to reach this goal the sections «credit organization» and «microfinance institutions» should be allocated during the auction. This proposal was mentioned in the final Protocol of the Expert Council meeting.
The abstracts from the Protocol of the Expert Council meeting are available for downloading at the RMC website at: http://www.rmcenter.ru/about/news/detail.php?ID=2877.
The Meeting of the Government Commission on SME Development
On 23 January 2009 the meeting of the Government Commission on SME Development under the leadership of the First Deputy Chairman of the Government of the Russian Federation I.Shuvalov was held. NAMMS President M.Mamuta participated in the meeting.
Two main issues were included in the meeting agenda: about the measures on SME funding support at the expense of commercial banks and about the measures on microfinance development and credit cooperation. Within the framework of the first issue the current situation when the banking system receives budget support to distribute among the real sector of economy and how it performs this task was considered.
The total crisis reduction of rate of increase in lending to SME in the second half of 2008 in comparison with the first half of the year, as well as raise of interest rates and unjustified complications of receiving loans order for small enterprises was noted. To improve the situation several steps were offered. In particular, Gennadiy Melikyan – the Russian Federation Central Bank First Deputy Chairman spoke about the measures assumed by the RF Central Bank to create favourable conditions for SME funding.
The Banking Regulation and Supervision Department of the RF Central Bank has approved new rules for construction of homogeneous loans portfolio to small business which allows establishing substantially smaller reservation amount on such credits. These measures must stimulate banks to save and raise amount of credit to SME. The State Secretary, the RF Deputy Minister for Economic Development A.Popova presented the supposed mechanism of budget resources distribution in the amount of 30 billions rubles aiming to credit SME and microfinance at the expense of the Vnesheconombank means. The principal innovation of this scheme is the mechanism of refinancing the homogeneous credits to SME issued by the banks – partners of the Russian Bank for Development instead of direct crediting. It will allow banks-partners to raise SME loan portfolios without raising their own assets which is important in the current situation of lack of investments.
The Moscow Mayor Yu.Luzhkov, Vnesheconombank's chairman V.Dmitriyev, President and CEO of VTB 24 M.Zadornov, Director of the Small Business Cooperation Department of the Sberbank of Russia S.Sagaydak also made presentations. Yu.Luzhkov and M.Zadornov in their speeches, in particular, mentioned high efficiency of joint program on the microfinance agencies system development in Moscow, implemented at the RMC methodical support.
First Deputy Minister of Finance of the Russian Federation S.Shatalov spoke about the second question. He remarked on the large part that microfinance plays in beginning business support and favored NAMMS main thesis about the necessity of building in Russia a two level financial-credit system, where on the upper level there are banks, and on the lower – microfinance institutions of local development. Among high priority measures he underlined the improvement of legislation, in particular, the necessity to accept as soon as possible the framework law «Of credit cooperation», as well as precise and considered development of the federal law project «Of microfinance organizations». Representing the interests of market participants, NAMMS will participate in the development of these significant law projects.
The analytical note «About high priority measures on microfinance development as an institute of support for starting entrepreneurs and self-employment of citizens in crisis period», prepared for the meeting is available for downloading at the RMC website at: http://www.rmcenter.ru/publications/library.
New RMC consulting training for MFI Associations
On 27-29 January 2009 in Moscow Russian Microfinance Center delivered a new pilot training especially developed for the MFI Associations with the Citi Foundation financial support within the framework of the joint project of RMC and the Small Enterprise Education and Promotion (SEEP) Network “Citi Network Strengthening Program” with Russian and foreign experts participation. Until now there existed no integrated training, uniting knowledge and experience of organization and principles of successful functioning of associations. Pilot training was delivered by its developers А.Kadrov and М.Kokhanova. RMC Senior trainer T.Dikova also participated in the training. The participants analyzed the most wide-spread problems which MFI Associations encounter; the practical strategies for raising efficiency of Associations performance in the sphere of strategic planning and management, financial viability, gaining stability, and other themes were discussed.
2nd Annual Microfinance Forum "Implementing Innovative Tools and Opening New Horizons"
Uniglobal Research with the Russian Microfinance Center support invites you to the 2nd Annual Microfinance Forum "Implementing Innovative Tools and Opening New Horizons" to be held on 19-20 March, 2009 in Vienna.
Uniglobal Research is a leader in focused, tailor-made business events serving a wide range of industries in the financial sector. They cooperate with decision makers and senior-level executives. Their objectives are to inform, educate, train and entertain in order to provide their clients with a high degree of satisfaction and profitability.
Uniglobal Research – is a European leader in organization and delivery of business conferences and forums aimed for the companies working in the sphere of economy and finance. They invite all who are interested to participate in the conference during which leading microfinance companies all across the globe will share their experience supporting at the same time microfinance development in less developed regions.
More information on the event, including the program and the registration form is available at: http://www.uniglobalresearch.eu/en/event/2009-66
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