{"id":54619,"date":"2023-08-29T21:49:47","date_gmt":"2023-08-30T01:49:47","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/russian-banks-to-quiz-central-bank-on-digital-ruble\/"},"modified":"2023-08-29T21:49:50","modified_gmt":"2023-08-30T01:49:50","slug":"russian-banks-to-quiz-central-bank-on-digital-ruble","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=54619","title":{"rendered":"Russian Banks to Quiz Central Bank on Digital Ruble"},"content":{"rendered":"
\n

Russian banks will have the opportunity to question the Central Bank on its digital ruble pilot next month.<\/p>\n

The Central Bank is facing a backlash from some sections of the banking industry after beginning \u201creal-world\u201d transactions with its CBDC earlier this month.<\/p>\n

The megabanks Sberbank and Tinkoff Bank also withdrew from the pilot at the eleventh hour for undisclosed reasons.<\/p>\n

The Association of Banks of Russia (ASROS), Russia\u2019s biggest banking industry group, has previously written to the Central Bank to ask for guarantees about the CBDC\u2019s future.<\/p>\n

ASROS claimed that its members\u2019 customers were \u201cwary\u201d of the CBDC.<\/p>\n

And it appears that ASROS will get answers when it holds the 20th edition of its \u201cinternational banking\u201d forum in Sochi next month.<\/p>\n

Per an official announcement, Central Bank officials will attend the event, including Governor Elvira Nabiullina, along with the bank\u2019s financial stability chief and two Deputy Governors.<\/p>\n

Nabiullina is the digital ruble\u2019s chief architect, a close ally of President Vladimir Putin, and one of the country\u2019s fiercest crypto skeptics.<\/p>\n

Central Bank\u2019s Digital Ruble Plan: Russian Banks \u2018Wary\u2019<\/h2>\n

Nabiullina hopes to fast-track the digital ruble\u2019s nationwide launch \u201cby 2025-2027,\u201d an announcement that appears to have spooked many commercial banks.<\/p>\n

The ASROS forum will feature a round table session entitled \u201cThe Digital Ruble: Future or Reality?\u201d<\/p>\n

The session will be chaired by Georgy Luntovsky, President of ASROS.<\/p>\n

He and others will have the chance to question Alla Bakina, Director of the Central Bank\u2019s National Payment System Department, along with other Central Bank officials.<\/p>\n

Executives from banking heavyweights such as Promsvyazbank (PSB) and Center-Invest Bank will also have the chance to grill Bakina.<\/p>\n

The Central Bank, Interfax reported, is expected to discuss the preliminary \u201cresults\u201d of the pilot and its vision for \u201cfuture stages of the [CBDC\u2019s] development.\u201d<\/p>\n

Luntovsky stated:<\/p>\n

\n

\u201cI look forward to an open conversation with the [Central Bank] about the results of the first pilot stage. [This will also be an] opportunity for banks to ask questions about their [CBDC-related] concerns.\u201d<\/p>\n<\/blockquote>\n

The forum will be held on September 27-30.<\/p>\n

PSB customers this month became the first non-bank employees in the nation to use the coin, with one of the bank\u2019s clients using the token to pay for \u201ceducation-related B2C services.\u201d<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Russian banks will have the opportunity to question the Central Bank on its digital ruble pilot next month. The Central Bank is facing a backlash from some sections of the banking industry after beginning \u201creal-world\u201d transactions with its CBDC earlier this month. The megabanks Sberbank and Tinkoff Bank also withdrew from the pilot at the […]<\/p>\n","protected":false},"author":1,"featured_media":54620,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-54619","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nRussian Banks to Quiz Central Bank on Digital Ruble | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Russian banks will have the opportunity to question the Central Bank on its digital ruble pilot next month.The Central Bank is facing a backlash from some\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=54619\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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