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Thursday, August 22, 2019

NOMOS-Bank, Otkritie Bank, Bank of Khanty-Mansiysk added to government-approved lending list

NOMOS-Bank, Otkritie Bank and the Bank of Khanty-Mansiysk have been included in the government-approved list of lending institutions for government contracts.

Online marketplace operators will be allowed to open and maintain accounts with the banks to secure government procurement orders once the directive of the government of the Russian Federation to that effect comes into force on Jan. 1.

Banks that have been selected for this purpose under the Law "On the Contractual System of Procuring Goods, Work and Services for State and Municipal Needs" have been recognized as financially stable by the Cabinet of Ministers and meet the requirements for the maintenance of government and municipal contracts.

The list comprises a total of 51 lending institutions. According to the document, the qualifying requirements included equity in excess of $1.07 billion and participation in the deposit insurance system.

The banks' involvement in tenders will make it easier for clients to deposit funds to secure their orders.