Bank of Russia makes decision on state registration of new settlement non-bank credit institution (11.01.2024)

The Bank of Russia made a decision to officially register the Moscow-based Euro-Asian Settlement Company (the Company) and to license it to carry out banking operations for settlement non-bank credit institutions (NCIs) in rubles and foreign currencies. The regulator will issue the licence after the authorised capital of the Company is paid.

On 10 January 2024, the Russian Federal Tax Service Directorate for the city of Moscow made an entry on the state registration of the Company in the Unified State Register of Legal Entities (primary state registration number 1247700004056).

The Company will focus on rendering settlement services to legal entities engaged in foreign trade.

At present, 37 NCIs, including 27 settlement NCIs, operate on the basis of licences issued by the Bank of Russia.