The Financial System: Stability for Growth

6–8 June 2018, ST. PETERSBURG

Ladies and Gentlemen,

We would like to inform you about the 27th International Financial Congress (IFC-2018), which will be held in St. Petersburg, Russia, on 6–8 June 2018.

The International Financial Congress is Russia’s largest professional event devoted to finance. Topics discussed at the Congress include current problems facing the financial industry, the development of regulation and oversight for financial markets, monetary policy, and issues in economic development.

The Congress will be attended by representatives from the Bank of Russia, legislative and executive authorities, foreign regulators and international organizations, major banks and financial institutions, and professional financial associations, as well as renowned Russian and international experts.

The Congress is operated by the Roscongress Foundation.

We would like to invite you to take part in the IFC-2018 business programme, and to attend the cultural events which will take place in Russia’s northern capital during the White Nights season – the most beautiful time of the year in St. Petersburg.

Be sure to save the dates of the Congress so that you don’t miss out.

We look forward to seeing you in St. Petersburg in 2018.

Results of the 26th International Financial Congress
BUSINESS PROGRAMME 1,300 participants

Plenary session: Finance for Development

4 panel sessions:

1.      Banks’ fate: how to survive the challenges of fintech and regulatory pressure

2.      Major trends in the development of Russia’s financial markets: half-way there

3.      Information security: current challenges and practices

4.      Global economic challenges for central banks

24 roundtables:

  • RT 1.1: Macroprudential policy and its role in ensuring financial stability

  • RT 1.2: Banking regulation for stimulation of economic development: opportunities and limitations

  • RT 1.3: Insurance market growth drivers

  • RT 1.4: Insider trading and market manipulation

  • RT 1.5: Protecting the rights of investors and financial services consumers: the role and objectives of conduct oversight

  • RT 1.6: The digital economy and innovations in the financial sector

  • RT 1.7: The role of the regulator in enhancing the financial market’s confidence in the performance of auditors

  • RT 2.1: The Russian economy: beyond the horizon (in cooperation with Vedomosti)

  • RT 2.2: Dialogue with the regulator: from cleaning up of the market towards a consultative approach to banking supervision

  • RT 2.3: Financial market infrastructure: from tradition to innovation

  • RT 2.4: Improving financial literacy: regional perspectives and the role of the private sector

  • RT 2.5: The Mir payment system: current and future services and technology

  • RT 2.6: The problems and opportunities of Russia’s pensions market

  • RT 2.7: Development of cross-border payments in national currencies

  • RT 3.1: OSAGO 2017: what lies ahead for compulsory vehicle insurance?

  • RT 3.2: The role of self-regulation in the financial market

  • RT 3.3: Financial inclusion strategy: reaching a new level

  • RT 3.4: Professional judgment: process justification, procedure and transparency

  • RT 4.1: 4% inflation: what now? International experience in sustaining inflation close to targets

  • RT 4.2: Banking: the search for drivers of growth (strategy, products, technology)

  • RT 4.3: Professional participants: the transformation of professional activity in the securities market

  • RT 4.4: Bondization: a priority of the Guidelines for the Development of the Russian Financial Market

  • RT 4.5: The future of microfinance: challenges and opportunities

  • RT 4.6: Corporate information management

Presentation by Elvira Nabiullina, Governor of the Bank of Russia

A dialogue between Minister of Economic Development of the Russian Federation Maksim Oreshkin and Governor of the Bank of Russia Elvira Nabiullina

Fintech Innotribe Startup Challenge Russia

A summer macroeconomic school for graduate and post-graduate students was organized as part of the additional programme

Four conferences were held on Zero Day ahead of the main Congress programme.

The Congress business programme covered all aspects of financial market operations. The International Financial Congress 2017 discussions focused on development of the economy and finances, monetary policy, banking, the payment system, the pension savings market, insurance, microfinance, fintech, financial inclusion, financial literacy and much more.

For the first time this year, the Bank of Russia presented seven economic and financial studies dedicated to various aspects of how Russia’s current financial system functions.

The results of the fintech Innotribe Startup Challenge co-organized by SWIFT and the Bank of Russia were announced at the Congress. Finalists presented ten fintech startups from which three winners were selected by voting. Oz Forensics presented an ID technology using digital photographs or video that helps prevent digital fraud; the Scorista project team proposed a modern borrower assessment service for non-banking lending institutions; and the Talkbank technology provides banking services using instant messengers.

An exhibition was held as part of IFC 2017 with ten participants: VTB Bank, Gazprombank, Sberbank, Mir National Payment System, Rosselkhozbank, Goznak, Rosinkas, Asteros, Fintech Association and FinCERT.

Some 1,300 participants from 35 countries attended the International Financial Congress in 2017: Austria, Armenia, Belarus, Belgium, Brazil, the UK, Virgin Islands, Germany, Hong Kong, Greece, Israel, Ireland, Spain, Italy, Kazakhstan, Canada, Cyprus, Kyrgyzstan, China, Malaysia, The Netherlands, Guernsey Island, Island of Man, Portugal, Russia, Romania, the US, Tajikistan, Turkey, Finland, France, Croatia, Czech Republic, Switzerland and Japan, including 349 corporate chief executives.

Representatives of the following organizations attended the Congress:

·        99 lending institutions from 17 cities, including leading Russian banks: Sberbank, VTB Bank, Gazprombank, VTB24 Bank, Rosselkhozbank, FK Otkrytie, Alfa Bank, Raiffaisenbank, UniCredit Bank, Promsvyazbank, Rosbank, Binbank, Bank St. Petersburg, Citibank and others;

·        Central (national) banks from 14 countries: Austria, Armenia, Belarus, Brazil, Spain, Kazakhstan, Kyrgyzstan, Portugal, Russia, Turkey, Finland, France, Croatia and the Czech Republic;

·        31 insurance companies; 12 non-state pension funds; 15 investment companies; 20 professional securities market participants; 23 asset managers; 11 micro lenders, pawnbrokers and consumer credit cooperatives; 7 self-regulating organizations and 4 trading organizers/exchanges.

·        25 associations/unions of lenders and other financial market players from Russia, the CIS and other countries; 15 audit and advisory companies; 20 IT companies; 7 payment systems; 5 rating agencies; academics from 24 Russian higher educational institutions; representatives of telecoms, funds, non-banking lending institutions, manufacturing companies and law firms;

·        The World Bank, International Monetary Fund, European Commission, European Banking Authority, Alliance for Financial Inclusion, Belgium’s Financial Services and Markets Authority, Hong Kong Monetary Authority, Portuguese Securities Market Commission, Hellenic Republic Capital Market Commission, CyberSecurity Malaysia, an agency under the Ministry of Science, Technology and Innovation (MOSTI), Eurasian Development Bank, Eurasian Economic Union, Interstate Bank, and the International Labour Organization;

·        Legislative and executive authorities of different levels: Administration of the President of Russia, Federal Assembly: Federation Council and State Duma, Ministry of Finance, Ministry for Economic Development, Ministry of Justice, Ministry of Labour and Social Security, Ministry of Education and Science, Prosecutor General’s Office of Russia, Audit Chamber of Russia, Supreme Court of Russia, Federal Antimonopoly Service, Federal Tax Service, Federal Financial Monitoring Service, Social Insurance Fund, Deposit Insurance Agency State Corporation, St Petersburg and Novgorod Region governments and Vnesheconombank.