Russian Financial Sector Update

Bank of Russia FINANCIAL SECTOR OVERVIEW The Central Bank of the Russian Federation 52 42 FINANCIAL INCLUSION Strong international background helps to promote financial inclusion - G20 GLOBAL PARTNERSHIP FOR FINANCIAL INCLUSION (GPFI) Acts as an inclusive platform for G20 countries, non-members and other parties for knowledge and experience sharing, policy advocacy and coordination in promoting financial inclusion - Russia is an original GPFI member since November 2010 Endorsed the 'original' FIAP in 2010 and the 'updated' FIAP in 2014 and 2017 - G20 World Bank · - OECD conference on empowering consumers of financial products and services was hosted in Moscow in June 2013 The third annual GPFI Forum was held in St. Petersburg in 2013 Financial Inclusion Promotion by the Bank of Russia - Improving financial inclusion for people and SMEs is one of financial market development priorities for 2016-2018 - - The Bank of Russia annually publishes financial inclusion indicators and the Report on Financial Inclusion in Russia (with supply-side and demand-side data starting from 2015) The technical note on financial inclusion was prepared in the context of a joint WB / IMF FSAP mission in Russia during February-March 2016; the note was published in May 2016 - Early in 2018 the Bank of Russia launched the Financial Inclusion Strategy in Russia for the period of 2018-2020 - ALLIANCE FOR FINANCIAL INCLUSION (AFI) The global knowledge exchange network empowering policymakers to increase access to quality financial services for the less well-off communities and households · The Bank of Russia became a member of AFI in February 2014 In September 2014 the Bank of Russia joined the Maya Declaration setting up the priorities for AFI members on financial inclusion In September 2015 the Bank of Russia joined the Maputo Accord to improve funding accessibility for SMES The Bank of Russia and AFI co-hosted the 'Financial inclusion and shadow banking: innovation and proportional regulation for balanced growth' conference in November 2015 In June 2016 the Bank of Russia hosted the AFI GSPWG meeting. CBR will host the 2018 AFI Global Policy Forum

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