foir print

05.10.2000

"Center-invest" Bank

    In the October "EUROMONEY" issue (160 000 drawing, is sent to leading European financial institutes) was published article of "Center-invest" vice-president professor Visokov "Banking in Russia using IAS").

    Experience of "Center-invest" 4 years audit by "PriceWaterhouseCoopers" on international standards of financial reporting is discussed in the article.

    Main positions of article are concluded in following:

    • profitability and risks in Russia are conformed requirements of world financial markets and may be reduced by means of special "know-how";
    • "know-how" of "Center-invest" is included in reducing these risks by special infrastructure. The infrastructure ensures development of business for clients by means of broad spectrum of services.

    "Center-invest" was invited on the annual IMF and Worldwide meeting in Prague 26-28 September due to the unique experience of work according to international standards.

    Conforming to international standards is one of the main conditions of supporting Russia reforms by IMF. So Government and Bank of Russia have decided to activate transition to international standards by Russia business.

    An access to long-term sources of financing affords to Don enterprises by presence in the region the bank, working on international standards. Only this year "Center-invest" negotiated with Black Sea Bank of Trade and Developments, EBRR and financial organizations of World Bank, participated in the IMF meeting.

    Russia minister of finance Kudrin has thanked professor Visokov for the support of Russia reforms in eyes of the world public.