Finance for Development

July 12–14 2017, Saint - Petersburg

The 26th International Financial Congress (IFC-2017) will take place on July 12–14, 2017 in St. Petersburg, Russia.

The theme of the Congress is ‘Finance for Development’.

The IFC is a major international financial forum held annually in Russia that traditionally brings together renowned experts, representatives of Russian and foreign government authorities as well as the heads of central and commercial banks, financial organizations and the business community.

The IFC sessions are interactive discussions that address relevant problems facing the global financial system. In 2016 the IFC was attended by more than 1,000 people from 34 countries.

You are invited to take part in the IFC 2017 working programme as well as cultural events held in Russia’s northern capital during the most beautiful time of the year – white nights season.

of the XXV International Financial Congress
5 plenary sessions 1,000 participants

5 plenary sessions:

1.      Global economic growth and financial stability

2.      Monetary policies in a time of global uncertainty: lessons and opportunities

3.      The banking industry: through hardships to the stars?

4.      Major trends in Russia’s financial market

5.      Emerging technologies on the financial market: market and regulator perspectives

20 round tables:

·          RT 1.1 Trust management: the future of the industry

·         RT 1.2 Improving insurance regulation

·         RT 1.3 Rating information and its uses

·         RT 1.4 Defending the rights of financial services consumers and investors: current issues

·         RT 2.1 Banking conditions: international standards and particular features of Russian regulation

·         RT 2.2 Monetary policy tools of the Bank of Russia

·         RT 2.3 Improving business reputation and qualification standards

·         RT 2.4 Financial conglomerates: challenges facing the mega-regulator

·         RT 2.5 Cash circulation and non-cash payments strategy: vision of the regulator and market participants

·         RT 3.1 Coordinating budgetary and monetary policy when targeting inflation.

·         RT 3.2 Risk management: levels, tools, technologies, procedures, and points of contention

·         RT 4.1 Accessibility of financial services: challenges and opportunities for development

·         RT 4.2 Compliance vs. Judgement

·         RT 4.3 The future of private pension funds

·         RT 4.4 Restructuring financial institutions: objectives, methodologies, and the role of the state and market players

·         RT 5.1 The growth of Russia’s financial instruments market

·         RT 5.2 The future of financial broker business models

·         RT 5.3 The future of microfinance: challenges and opportunities

·         RT 5.4 The MIR Card: ensuring widespread accessibility of national payment mechanisms

·         RT 5.5 Financial literacy: the cornerstone of financial market growth

Address by Governor of the Central Bank of Russia Elvira Nabiullina

Keynote speech by Nouriel Roubini, Chairman and CEO of Roubini Macro Associates, USA

Signing ceremony for a Memorandum of Cooperation between the St. Petersburg Government and the Central Bank of the Russian Federation (Bank of Russia), which pledges to build on the existing MIR payment system by creating and promoting the new Universal St. Petersburg Card

Presentation of the results of the round tables held at the 2016 St. Petersburg International Legal Forum by Russian Minister of Justice Alexander Konovalov

Over the course of 5 plenary sessions and 20 round tables, Congress participants discussed ways forward for the economy and finance, monetary policy, banking, payment systems and the financial market.

The Congress took a different format this year, with discussions moving beyond just the banking sector to cover the financial sector as a whole. Russian and international banks took part in discussions covering the most pressing financial issues alongside figures from insurance companies, pension funds and other financial market participants, as well as representatives from the central banks of various countries and international financial institutions. The Bank of Russia was represented by its deputy or vice-deputy in each of the sessions. 

In 2016, the International Financial Congress was attended by around 1,000 participants from 34 countries: Argentina, Armenia, Austria, Belarus, Belgium, Bosnia and Herzegovina, Chile, China, Croatia, Cyprus, Czech Republic, Finland, France, Germany, Hungary, Iceland, India, Iran, Israel, Italy, Japan, Kazakhstan, North Korea, Laos, Malaysia, Mexico, Moldova, Montenegro, the Netherlands, Russia, Switzerland, the US, UK, and Vietnam, including 349 heads of companies.

The following organizations were represented at the Congress:

·        93 credit organizations from 17 cities. Among these were leading Russian banks: Sberbank of Russia, VTB Bank, Gazprombank, VTB24, Otkritie FC Bank, Russian Agricultural Bank, Alfa Bank, UniCredit Bank, Promsvyazbank, Rosbank, BIN Bank, Rossiya Bank, Bank Saint Petersburg, Khanty-Mansiysk Bank Otkritie, Citibank, and others

·        The central (national) banks of 24 countries: Armenia, Austria, Belarus, Bosnia and Herzegovina, Chile, China, Croatia, Czech Republic, Finland, France, Germany, Iceland, India, Iran, Israel, Italy, Kazakhstan, North Korea, Laos, Moldova, Montenegro, Russia, Switzerland, and Vietnam

·        68 insurance companies and 29 private pension funds
66 professional securities market participants, 33 microfinance organizations, 20 management companies, 18 pawn-brokers, and 16 consumer credit cooperatives
9 self-regulatory organizations, 5 trade or exchange organizers.

·        24 credit institution associations and other participants in the Russian and CIS financial markets, 7 audit and consulting firms, 11 IT companies, 6 payment systems, 5 rating agencies, scientific experts from 11 Russian universities, telecommunication companies, funds, and non-banking credit organizations

·        The World Bank, International Monetary Fund, European Commission, the European Supervisory Authorities, Alliance for Financial Inclusion, the German Financial Supervisory Authority, Financial Action Task Force on Money Laundering, Eurasian Bank, Interstate Bank, London School of Economics, Inter-bank Deposit Insurance Fund, Pension Funds Supervision Commission Italy (COVIP), Department of Telecommunications of India

·        Legislative and executive authorities at various levels: the Presidential Administration of Russia and the Federal Assembly: the Federation Council, State Duma, Ministry of Finance, Ministry of Economic Development, Ministry of Justice, Ministry of Internal Affairs, Ministry of Labour and Social Protection, Ministry of Education and Science, General Prosecutor’s Office, Accounts Chamber, Federal Antimonopoly Service, Federal Tax Service, Federal Financial Monitoring Service, Deposit Insurance Agency, the St. Petersburg City Administration, the Economic Council under the President of the Russian Federation.