Prime Minister Vladimir Putin sends greetings to Russian Central Bank chairman Sergei Ignatyev and participants and guests of the international conference “Central Banks and Development of the World Economy: New Challenges and Prospects”
The message of greetings says, in part:
"I sincerely congratulate you, the employees and veterans of the Central Bank on this remarkable date, the 150th anniversary of the State Bank of Russia.
Founded in the 1860s, in the "Era of Great Reforms," the State Bank can rightfully be called a key element in the country's financial system, contributing much to Russia's prosperity and enhancing the well-being of its citizens.
As it has over the years, the Russian Central Bank maintains the stability of the national currency, manages inflation, provides settlements and payments and supervises the commercial banks.
I particularly want to note the constructive interaction between the Central Bank and the Russian government on the key issues of the country's economic policy.
We have been working together on the development of a law for deposit insurance which would guarantee the safety of our citizens' deposits. We have also initiated a project to liberalise currency regulations and transit for the full convertibility of the rouble.
Currently, the Central Bank and the government are working on a strategy for the banking sector for the next few years, from 2011 to 2015. This strategy will address the key challenges faced by the country's financial system, find ways to increase the efficiency, competitiveness and stability of Russian banks, while improving the accessibility and the quality of banking services for individuals and companies.
No less important is the effort to establish an effective, non-redundant system of supervision over the credit industry, to develop mechanisms to prevent "bubbles" in financial markets, to prevent the laundering of illegally gained assets through credit organisations for the financing of terrorism.
I am confident that the professionalism and devotion of Central Bank employees will continue to help them accomplish their objectives."
