About us / Project Groups

Project Group №2 →

Corporate law and governance, financial transaction taxes

Project Group №1

Financial infrastructure and financial market regulation


Back to Media

State Duma Passes Amendments on Facsimile Signatures for the Visually Handicapped

25.02.2014 17:11 / MIFC

On Tuesday, the State Duma passed the Government bill allowing the visually handicapped to use facsimile signatures in cash transactions.

This abolishes current rules, forcing the blind to personally affix their signature in the process of cash-in, withdrawal and exchange of cash.

The bill lists the documents that are to be provided to the visually handicapped. Bank staff are also required to read out the amount and type of transaction.

“By communicating the wrong type and amount to the visually handicapped in the process of transaction processing, bank/company staff commit a criminal offence, punishable by Russian law”, states the bill memorandum.

The amendments also introduce a new concept to the Russian notary law – authentication of the facsimile signature for the visually handicapped.

The bill has been drafted in accordance with Point 7 of the International Financial Center and Investment Climate Change Roadmap, approved by the Russian Federation Government Resolution 1012-R of 19 June 2013.

Project Group №1