Aid for businessmen or banks will pay away

Andrey Ageshin, Partner of ART DE LEX, commented in “Vesti FM” that he highly appreciates the modern changes in the legislation which enables sole proprietors to be recovered by the Deposit Insurance Agency in case of the withdrawal of licenses from banks. In his opinion, the introduction of such provisions will generally enhance the country’s business environment and provide additional safeguards for entrepreneurs.

At the same time, Andrey Ageshin notes that the Central Bank will continue “mopping up” the bad faith players in the financial sector. However, he estimates that the withdrawal of banking licenses will not always be followed with the prosecution of top bankers.