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Reuters reports that the European Central Bank (ECB) has decided to instruct Italy-based UniCredit to scale down its business activities with Russia.
compliance, regulation, financial sanctions, financial services
Russia-based MTS Bank has announced that it will hold an Initial Public Offering (IPO), aiming to accelerate its development and growth process.
product launch, banking, online banking, mobile banking, digital banking, financial services, financial institutions
US and UK authorities have analysed cryptocurrency transactions exceeding USD 20 billion that flowed through a Russia-based virtual exchange.
cryptocurrency, financial sanctions, cryptocurrency exchange, transactions , compliance, regulation
The European Union has agreed on the 13th package of sanctions against the Russian Federation following two years of aggression in Ukraine.
financial sanctions, fraud prevention, regulation, compliance
Vietnam-based Deutsche Bank has announced the raise of USD 100 million in capital allocation increase for its Ho Chi Minh City branch, for its development process.
funding, investment, mobile banking, online banking, banking, digital banking
German lender Deutsche Bank has announced it is closing down its remaining software technology centres in Moscow and St Petersburg.
mobile banking, Russia Ukraine War, financial sanctions, online banking
Tinkoff has cancelled interest payments due later in March 2023 on a dollar-denominated Eurobond, days after being targeted with Western sanctions.
payments , Russia Ukraine War, banks, financial institutions, financial services
Eric Grover, Principal at Intrepid Ventures, analyses the unbalanced competition between central banks and private-sector payment systems across the globe, revealing what are each’s strengths.
central bank, payments system, cross-border payments, fintech
Russia-based VTB Bank has suffered the largest cyber-attack in its history and is having technical difficulties as a result.
hacking, banks, online security, data breaches
A representative of Russia’s Ministry of Finance has stated the country is seeking a non-restrictive policy for using Bitcoin and crypto in international trade.
cryptocurrency, digital assets, cross-border payments, Bitcoin
UK-based electronic payments company ePayments Systems has started closing after years of being under regulatory scrutiny.
FCA, EMI licence, regulation, fraud prevention, digital payments
The Bank of Russia, the country’s central bank, has admitted that cross-border payments in crypto are inevitable in the current geopolitical conditions.
banks, cryptocurrency, cross-border payments, central bank, regulation
The Central Bank of Iran has entered negotiations to join Russia’s Mir card payment system in order to improve regional trade and bypass US sanctions.
online payments, payment processing, payments , payment processor
Iran’s association of importers has stressed the need for a regulatory framework for crypto now that the Iranian government has recently used crypto to pay for imports.
regulation, cryptocurrency, blockchain, cross-border payments
The Russian and Indian Governments have gotten closer to an agreement to have cards based on Russia’s Mir payment system be accepted at ATMs and POS in India.
Russia Ukraine War, financial sanctions, UPI, cross-border payments
Russia has jumped to become the third largest market for the yuan, according to Reuters, while Chinese digital lending apps are investigated by the Reserve Bank of India, moneylife.in reports.
Russia Ukraine War, lending, online fraud, digital banking, Mir
Kledjona Mollaj, Consultant at Be | Shaping the Future UK, discusses the latest changes in Russia’s internal payment system and the challenges faced by the government amid the invasion of Ukraine.
Russia Ukraine War, local payment method, remittance, SWIFT, debit card, credit card, Issuer, central bank, mobile payments, online payments
Credit Bank of Moscow - MKB and Bank DOM.FR have announced that they are preparing to issue UnionPay cards starting with Q1 2023.
credit card, expansion, Issuer, financial sanctions, card scheme
Mir bank cards, Russia’s alternative to Visa and Mastercard, have been considered by Iran to start accepting payments made with them, as per Reuters.com.
Visa, MasterCard, credit card, debit card, payment methods
HSBC has agreed to sell its Russia business to Expobank, signing a deal shortly before Moscow said it would move to block the sale of foreign banks' Russian businesses in retaliation for restrictions imposed on its own lenders.
banks, Russia Ukraine War