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MIFC: Key Facts

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

Task Assignments

06.12.2011 / Moscow

Task Assignments given by the President of the Russian Federation following the MIFC International Advisory Board session
on 28 October 2011.

MIFC Events

24.10.2012 MIFC / Moscow

Meeting chaired by Russian Prime Minister Dmitry Medvedev

On October 24, 2012, Prime Minister Dmitry Medvedev will chair a meeting to discuss investment climate improvement mechanisms, Moscow International Financial Center (MIFC) roadmap and financial markets regulation and oversight reform.

16.03.2012 - 17.03.2012
MIFC / Moscow / Digital October

Moscow International Financial Center Strategic Session

The Strategic Session will set priorities for the development of an international financial center in Moscow (MIFC).

Events Calendar

Media Coverage

08.04.2013 / Interfax

Ministry for Economic Development Will Procure Long-Term Visas for Foreign Investors

The Government has granted the Ministry for Economic Development the right to apply to diplomatic missions and consulates for visas to representatives or employees major foreign companies investing in Russia as well as Skolkovo project and MIFC project participants.

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.

25.03.2013 / Interfax

London Remains World’s Largest Financial Center Despite LIBOR Scandal

London has retained the status of the world’s largest financial center, despite the LIBOR manipulation scandal, according to Z/Yen.

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.

16.08.2012 / lenta.ru

Minfin to Lend 5 Times Cheaper

Moscow International Financial Center Roadmap will make Russian loans five times cheaper by 2018, says Vedomosti newspaper quoting ministry sources.

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.

16.08.2012 / «Expert-Online»

Global Leadership Roadmap

Minfin has initiated the MIFC Roadmap 2015 debate, with key measures of the draft placed on the next President’s Financial Market Council session agenda.

09.11.2011 / «Kommersant-Online»

Tax Relief Promised to Investors

The Federal Financial Markets Service (FFMS) is set on abolishing sales tax on securities owned by investors for 3-plus years. The idea has been voiced before, but failed to gain support from the Ministry of Finance.

19.10.2011 / Vedomosti

Ministry of Finance Ready to Soften Tax Consolidation

Officials and deputies have no time to improve the new transfer prices control regulations before they come into effect in 2012. However, they promise to pass the act, which allows holding companies to pay consolidated income tax. Not a few, but several dozen companies will be able to use this opportunity.

12.10.2011 / Interfax

No Investor In His Own Land

In the past two years the Government plan for the International Financial Centre formation was implemented. It`s too early to evaluate the results of this effort, but as for the internal market development it can be surely said that no progress has been made. Such is the common opinion of the members of the National Association of Stock Market Participants (NAUFOR) at "Russian stock exchange market" conference in Ekaterinburg.

10.10.2011 / gazeta.ru

Investors Promised Trillion Plus Kudrin. Dmitry Medvedev’s first time in public with Alexei Kudrin.

Dmitry Medvedev has chaired a meeting with Alexei Kudrin, the first one since Kudrin stepped down. The IFC project will not be hindered by neither the European crisis, nor the elections in Russia, stated the President: the Central Bank will fuel banks with a trillion roubles if necessary, while institutional changes include a Central Depositary and new IPO rules for Russia.

10.10.2011 / Izvestia

Moscow’s Own IFC Criteria

Russian government wants to promote Moscow as an international financial center (IFC). This requires a scale of criteria, similar to the existing Western analogues, but drawing on local specifics, left out of the picture in Western reports.

29.09.2011 / «Kommersant-Online»

Moscow is #61 in The Global Financial Centres Index (GFCI 10).

Russian capital is #61 in The Global Financial Centres Index, according to a consultancy company Z/Yen Group. The leaders are London, New York and Hong Kong. Moscow is not a very high entry (there are only 75 participants) but the position can be called a relative achievement versus last research’s #68.

29.09.2011 / gazeta.ru

Moscow is #61 out of 75 cities in The Global Financial Centres Index (GFCI 10).

Moscow is #61 out of 75 international financial centres, according to the research by consultancy company Z/Yen Group. The idea of creating an international financial centre in Moscow (MIFC) was proposed by the president Dmitry Medvedev during the St. Petersburg International Economic Forum two years ago.

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.

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.

20.07.2011 / gazeta.ru

Directors Declare Independence. Independent Directors of State Corporations Ask Medvedev for Less State Guidelines.

The Government should refrain from directive voting in state-owned companies, otherwise the replacement of state officials on state-owned companies` Boards of Directors is useless, independent directors told Dmitry Medvedev. The State should trust Boards of Directors more, and in case of any misuse of power the shareholder can always litigate. This practice should form, concurred the President, promising to slash directives.