The Central Bank of Russia (CBR) hopes that amendments to the law «On Banks and Banking Activity» will be drafted by the Finance Ministry as soon as this year. The bill will offer equal terms for both residents and non-residents, when reporting the CBR about the purchase of more than 1.0% of shares in Russian banks and receiving prior consent from the CBR for the purchase of shares.
Source: VEDOMOSTI, May 26, 2006
