MIFC: Key Facts

A source of basic facts about the International Financial Centre in Moscow

MIFC Roadmap

03.11.2015 MIFC / Moscow

MIFC Roadmap: Making progress.
October 2015


01.07.2013 MIFC / Moscow

MIFC Roadmap


01.07.2013 MIFC / Moscow

Interview with Alexander Voloshin

MIFC Events

24.03.2017

10th Russian-British MIFC Joint Liaison Group meeting

Events Calendar

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Media Coverage

29.01.2014 / Interfax

Russia #3 Worldwide in Foreign Direct Investment

FDI in developing and transitional economies hit record highs in 2013, according to United Nations Conference on Trade and Development (UNCTAD) report.

06.04.2013 / Kommersant

Central Bank Builds Financial Center

FFMS merger with the CB will significantly improve regulation – as expected by reform participants and instigators alike. Yesterday the Bank of Russia, FFMS and Minfin reps made a public presentation of the financial megaregulator, as the process has entered implementation stage. In the meantime, MIFC mastermind Alexander Voloshin sees the future unification of oversight as a key milestone for Moscow as International Financial Center.

29.01.2013 / Interfax

MIFC Location to be Determined by Workgroup

Russian Prime Minister Dmitry Medvedev is planning to establish a workgroup to determine the location of Moscow International Financial Center (MIFC) infrastructure.

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Media (48)

24.03.2017 17:15 / MIFC

10th Russian-British MIFC Joint Liaison Group meeting

Alexander Voloshin, Head of MIFC Taskforce, Miles Celic, Chief Executive of TheCityUK and Nikolay Kosov, Chairman of the Board, IIB signed a Memorandum of Understanding at the 10th Russian-British MIFC Joint Liaison Group meeting today.

07.10.2016 11:41 / MIFC

Alexander Voloshin Comments on Government Decree 2085 of 5 October 2016

On 5 October 27, Russian Prime Minister Dmitry Medvedev signed Government Decree 2085, voiding Decree 1012 of 19 June 2013 (“Approval of Moscow IFC Roadmap”). Head of the Moscow International Financial Centre Taskforce Alexander Voloshin comments.

29.04.2016 14:27 / TASS

Privatization Must Be Expedited, says Voloshin

Privatization in Russia must be expedited as it is vital for the economy, Head of MIFC Taskforce Alexander Voloshin told TASS. "I am certain that privatization must be expedited. We need to run privatization this year, and go for more of it in the years to follow. This process should be incremental, reaching the point where the state share in the economy is down to a reasonable minimum", he pointed out. Voloshin is positive that 'the right time' will never arrive.

12.04.2016 17:13 / MIFC

Better IIA Terms Under Discussion, says Voloshin

Head of MIFC Taskforce Alexander Voloshin says debates are underway with the Ministry of Finance on improved terms for Individual Investment Accounts (IIAs).

11.11.2014 00:00 / Kommersant

Voloshin Speaks to Kommersant

It is becoming apparent that the Russian economy will remain under the pressure of Western sanctions for a long time. CEO at Number One Cargo Company (PGK) Alexander Voloshin tells Kommersant how the business will survive, whether the Moscow International Financial Center project will proceed as planned, and how Russian state regulation is different from the US.

01.07.2013 20:34 / MIFC

Interview with Alexander Voloshin

Russian Prime Minister Dmitry Medvedev has signed off the Moscow International Financial Center Roadmap. Russia must reach ambitious goals set out in the document to make its mark on the map of the world’s leading financial hubs by the start of the next decade. Head of Moscow International Financial Center Taskforce Alexander Voloshin considers this complex objective achievable.

29.01.2013 14:36 / Interfax

MIFC Location to be Determined by Workgroup

Russian Prime Minister Dmitry Medvedev is planning to establish a workgroup to determine the location of Moscow International Financial Center (MIFC) infrastructure.

29.01.2013 08:02 / Interfax

Medvedev to Hold Meeting on MIFC Infrastructure

Prime Minister Dmitry Medvedev will hold a meeting on Tuesday on the use of Rublevo-Arkhangelskoye municipality for the needs of Moscow International Financial Center.

16.01.2013 17:01 / Interfax

New MIFC Roadmap to be Presented to the Government

The Russian government will be shortly presented with a new Moscow International Financial Center (MIFC) Roadmap, said Deputy Finance Minister Alexey Moiseev at the Gaidar Forum on Wednesday.

11.12.2012 18:14 / RIA Novosti

UK-Russia Liaison Group on MIFC to Meet in Moscow, May 2013

The fifth meeting of the UK-Russia Liaison Group on Moscow as an International Financial Centre is scheduled for May 2013 in Moscow and will coincide with the annual visit of the Lord Mayor of the City of London to Russia. This decision was passed Tuesday at the fourth Liaison Group meeting in London.

24.10.2012 16:29 / Interfax

FFMS Boost Named Possible Megaregulator Scenario

Russian Prime Minister Dmitry Medvedev allowed a month for analysis of megaregulator scenarios, including possible preservation of Federal Financial Markets Service (FFMS).

24.10.2012 08:02 / Interfax

Medvedev to Talk Investment Climate, MIFC and Financial Markets Oversight

Russian Prime Minister Dmitry Medvedev will chair a meeting on Wednesday to discuss investment climate improvement mechanisms, Moscow International Financial Center (MIFC) roadmap and financial markets regulation and oversight reform.

21.09.2012 13:54 / Interfax

Financial Ministries Agree to Central Bank as Megaregulator

Minfin, Central Bank and Federal Financial Markets Service (FFMS) have agreed to transfer regulatory functions to the Bank of Russia, except for legislative powers, to be retained by Minfin.

18.09.2012 10:34 / RBC - daily

No Affiliation in New Civil Code

The debate over the final version of the new Civil Code is in full swing. By the second reading, the draft lost affiliation and controlling entity norms, supported by MIFC Taskforce. Head of MIFC Taskforce Alexander Voloshin has pleaded with the Head of Duma Legislative Committee Pavel Krashennikov to retain the norms in the new CC draft. Expert opinions are divided: some say the omitted norms will mean a return to the `wild 90`s`, some point out that retaining these norms will be responsible for mass miscarriages of justice.

16.08.2012 / vedomosti.ru

Minfin Drafts MIFC Roadmap

The Ministry of Finance has circulated a draft MIFC Roadmap 2015, according to a ministry source.

04.07.2012 19:49 / Interfax

FFMS May Take Back Functions from Finance Ministry

The Federal Financial Markets Service (FFMS) may take back the functions transferred out of its purview to the Finance Ministry a year ago.

29.06.2012 08:01 / Interfax

Clearstream and Euroclear Will Access State Bonds by 1 July 2014

By 1 July 2014, Federal Financial Markets Service (FFMS) will open access to the state bonds market only for Clearstream International SA (Luxembourg) and Euroclear Bank SA/NV (Belgium), among other 136 companies eligible for foreign nominee account opening at the Central Depositary.

06.06.2012 11:18 / Interfax

Russia Can Allow Euroclear and Clearstream on Federal Bonds Market Only

The Russian authorities can allow immediate opening of nominee accounts in the Russian central depositary for international central depositaries such as Euroclear and Clearstream for federal bonds only, a source close to inter-regulatory debates told Interfax.

20.04.2012 22:23 / Interfax

Euroclear and Clearstream May Be Denied Direct Presence in Russia

By majority vote on Friday, The Presidential Financial Market Council Workgroup passed a decision to deny international settlement systems the right to open nominee accounts at the Russian Central Depositary, according to three Workgroup session participants.

27.03.2012 18:34 / Interfax

Moscow Down to #65 in GFCI Rating

Moscow is down from #61 to #65 in the Global Financial Center ratings by Z/Yen Group.

19.03.2012 10:23 / Vedomosti

Road Map to Financial Center

The Ministry of Finance and the MIFC Taskforce to develop MIFC Roadmap.

28.02.2012 17:30 / Interfax

Ministry of Finance Finalizes Draft of Central Depository Status Decree

The Ministry of Finance of the Russian Federation has finalized the Central Depositary Status Decree, a ministry source told Interfax.

17.02.2012 18:14 / Interfax

Ministry of Finance Drafts Central Depositary Accreditation Procedure

The Russian Ministry of Finance has drafted the Central Depositary accreditation procedure. The draft has been forwarded to the relevant ministries and Alexander Voloshin’s MIFC Taskforce.

19.12.2011 15:42 / Interfax

Voloshin - Stock Exchanges Merger will Help Establish International Financial Centre in Russia

"Undoubtedly, this event is important for the MIFC establishment. This is a work result within each of the two exchanges. I am sure, that a joint stock exchange will become one of the best in the world", said the Head of MIFC Taskforce in Russia Alexander Voloshin during the opening ceremony at the combined MICEX-RTS Stock Exchange.

19.12.2011 11:30 / MICEX-RTS

Russia`s MICEX, RTS exchanges unified trading platform opening

On the 19th of December 2011 at 10.00 a.m., a MICEX-RTS unified trading platform opened. Alexander Voloshin, head of MIFC Taskforce, and Dmitry Pankin, head of Federal Financial Market Service (FFMS) triumphantly struck the bell.

09.12.2011 20:18 / MIFC

A.S.Voloshin speaks at Moscow Urban Forum “Global Solutions for Russian Cities” on 9 December 2011.

09.12.2011 11:09 / Interfax

Voloshin: Financial regulation in Russia may be up to international standards in 3-4 years

Financial regulation and financial infrastructure development in Russia may be brought up to international standards in the course of three-four years, said Alexander Voloshin, Head of MIFC Taskforce, at the Moscow Urban Forum Conference on Friday.

21.10.2011 14:19 / Interfax

Pankin Succeeds Savatugin as Secretary of President’s Financial Market Council

Russia’s Deputy Minister of Finance Alexei Savatugin has stepped down as Secretary of President’s Financial Market Council, following a Presidential decree of 18 October.

05.09.2011 / «Kommersant-Online»

MIFC Boosts Shareholder Rights

The MIFC Taskforce, headed by Alexander Voloshin, has proposed a right for shareholders to disclose confidential business information to protect their rights, e.g. in court. They also propose introducing criteria for ‘controlled entities’ and holding the head company responsible for their non-disclosure.

17.08.2011 10:00 / RBC - daily

PARTAD appeals to Head of SEC

Professional Association of Registrars, Transfer Agents and Depositories (PARTAD) replied to the US-based Association of Global Custodians (AGC), concerned over the future of the Moscow International Financial Center.

12.08.2011 10:00 / Torgovo-Promyshlennye vedomosti

Moscow Capitalist Manifesto

The capital of Russia is still a long way from becoming an International Financial Centre. The economic and legal reforms will help solve this problem.

03.08.2011 10:00 / Kommersant

Fast Lane Civil Code Amendment. Ministry for Economic Development and Presidential Legal Directorate proceed before general Civil Code reform is agreed upon.

As a result of hearings at the Ministry for Economic Development on August 2, which were devoted to draft amendments to the Civil Code, the Ministry informed that the State Duma may consider its own draft amendment to the CC in Autumn 2011, and does not support the initiatives of The Russian President’s Codification Council. According to Kommersant, all the parties, except the Council, are considering the general version of the CC amendments by the Presidential Legal Directorate (PLD).

03.08.2011 / Kommersant

Fast Lane Civil Code Amendment. Ministry for Economic Development and Presidential Legal Directorate proceed before general Civil Code reform is agreed upon.

As a result of hearings at the Ministry for Economic Development on August 2, which were devoted to draft amendments to the Civil Code, the Ministry informed that the State Duma may consider its own draft amendment to the CC in Autumn 2011, and does not support the initiatives of The Russian President’s Codification Council. According to Kommersant, all the parties, except the Council, are considering the general version of the CC amendments by the Presidential Legal Directorate (PLD).

26.07.2011 / Kommersant

Civil Code Under Triple Siege. The President’s lawyers share their opinion on the amendments.

The Presidential State Legal Consultancy (SLC) has come up with a third edition of Civil Code amendments.

15.07.2011 15:00 / UK Trade & Investment

Russia moves towards development of international financial centre

City delegation advises Moscow on its development as international financial centre and considers the opportunities for business in a potentially huge market.

18.06.2011 14:55 / Interfax

RECAP: MIFC Ready by Autumn

Preparatory stages of the MIFC project could be finalized in October-November this year. A number of issues remain unresolved, while the authorities consider moving the MIFC to the city centre or outside the Ring Road.

18.06.2011 11:36 / Interfax

Voloshin hopes that the Centralized Depositary issue is resolved by the year-end

Head of the MIFC taskforce Alexander Voloshin hopes that the Centralized Depositary issue will be resolved by the end of the year.

17.06.2011 10:00 / The Moscow News

Moscow Is the Centre

Moscow can already be called a Regional Financial Centre, says Moscow Mayor Sergey Sobyanin. The city infrastructure is rather well-developed, and all the companies working in Russia seek to open an office in the capital. Government officials do not share the optimism for now: the Russian capital still has a long way to go to become an international financial center.

17.06.2011 10:00 / Vedomosti

Shuvalov: modernization will not succeed without foreign investment

During the St-Petersburg International Economic Forum, a panel discussion on "International Economic Centre Development" took place. The moderator, First Deputy President of VTB Yuri Soloviev asked why Russia needs an IFC. Russia is forming for itself the order for modernization and accelerated development, and any "new Russia" initiatives need significant funds, the first Deputy Prime Minister Igor Shuvalov answered.

07.06.2011 12:22 / Interfax

Pankin: Duma could adopt centralized depositary law in autumn.

FSFM Head Dmitry Pankin hopes the State Duma will adopt the Centralized Depositary Act in autumn.

06.06.2011 14:00 / MIFC

Welcome message from А.Voloshin, Head of the MIFC Taskforce

Dear Friends, welcome to the Moscow International Financial Centre website.

01.06.2011 15:08 / Interfax

Investors concerned with lack of Centralized Depositary in Russia, says Head of MICEX

‘Foreign investors’ major concern is the absence of a Centralized Depositary in Russia’, said MICEX CEO Ruben Aganbegyan, following investor one-on-one meetings at the VTB Capital “Russia Calling!” forum in London.

01.06.2011 08:00 / Kommersant

The Civil Code Equally Shared. Public companies get justice, the rest get freedom of contract.

MIFC Taskforce lawyers have prepared a series of proposals for the Russian Civil Code (CC) reform, designed to at least partially mitigate the amendments planned by the Codification Council.

31.05.2011 22:01 / gazeta.ru

Close affiliation. Family can now be legally affiliated.

Letting relatives qualify as affiliates, more freedom to non-public companies, more responsibility for corporate management and between shareholders — these are some of the amendments to the Civil Code proposed by MIFC Taskforce.

18.04.2011 08:08 / Interfax

Russia planning world class IPOs - Voloshin

The Russian authorities are keen to host several world class initial public share offerings (IPOs) per year, Alexander Voloshin, head of MIFC taskforce, said in Hong Kong.

18.04.2011 08:08 / Interfax

Russian exchange may opt for foreign partner strategy, but not merger - Voloshin

The unified MICEX and RTS might work in a strategic partnership with other exchanges, but a merger or unification is not on the cards, head of MIFC taskforce Alexander Voloshin said on Sunday.

18.04.2011 08:07 / Interfax

Official: Moscow international financial center to have certain advantages

Russian presidential aide Arkady Dvorkovich sees the future international financial center in Moscow having a number of advantages.

18.04.2011 08:07 / Interfax

Domestic aspects of setting up international financial center in Moscow settled - Medvedev

Russian President Dmitry Medvedev believes that half of the road to the establishment of an international financial center in Moscow has been covered.