The Central Bank has developed a draft law on restriction of departure from Russia for owners and managers of troubled banks
The Bank of Russia has developed a bill that proposes to temporarily restrict the right to travel abroad for the beneficiaries and executives who drove their banks to bankruptcy, reports “Interfax” citing a source in the financial-economic bloc of the government.
According to this source, the amendments will also affect owners and management of private pension funds and insurance companies. The document has already conceptually approved the economic development Ministry.
Recall that in October last year during the meeting with the Chairman of the Bank of Russia Elvira Nabiullina, President Vladimir Putin promised to give the government and law enforcement agencies the mandate to consider the issue of restrictions on travel abroad for holders of banks where there are signs of withdrawal of assets.
Elvira Nabiullina at the meeting with the head of state lamentedthat often the cause of the fall of the banks are not economic, and criminal actions, and business people in most cases come where already withdrawn their assets. Thus, for example, that citizens who do not pay for utilities or not pay the traffic police fines, has long been restricted in the possibility of going abroad.
Earlier, in January 2016, at the meeting of the interdepartmental Commission on combating illegal financial transactions was discussed a package of proposals aimed at increasing pressure on unscrupulous bankers. DIA offered the example of Turkey to enter the pre-trial ban on travel outside the country managers and owners of banks in respect of which the restrictions on deposits or a criminal case.
DIA estimated that at that time abroad was a shelter for the owners and top managers of more than 20 troubled banks. There are culprits in bringing banks to bankruptcy trying to “legitimize the proceeds of their criminal activities and hide them.”