XXIII International Banking Forum: Outcomes and Strategic Guidelines for the FBA EAC

Alexander Murychev, Chairman of the Board of the Financial and Business Association of Euro-Asian Cooperation and Vice President of the RUIE, has concluded his participation in the XXIII International Banking Forum "The Banking Sector in the Global Economy: International Challenges and National Strategies," held in St. Petersburg from September 23 to 26, 2026. The forum was organized by the Association of Banks of Russia. As part of the business program, Alexander Murychev took part in a meeting of the Council of the Association of Banks of Russia, a traditional gathering of heads of major credit institutions and regulatory representatives.

The central event of the forum was the plenary session featuring Elvira Nabiullina, Chair of the Bank of Russia. The head of the regulator reported that within three weeks of the large-scale launch of the digital ruble, citizens have opened nearly 200,000 accounts. Thirty-six banks are now connected to the platform, and approximately 8,000 companies and individual entrepreneurs have also opened accounts. Ms. Nabiullina emphasized that there is no risk of a massive outflow of liquidity fr om banks, as no interest is accrued on funds held in digital wallets.

During the forum, Andrey Kostin, Head of VTB, stated that inflation remains the primary adversary of the Russian economy. He forecasted that 2027–2028 could be "less promising" in terms of profitability for the banking sector. Mr. Kostin also noted that Chinese investors are finally showing serious interest in investing in Russia, while Arab investors are taking a closer look. In his assessment, the investment climate is deteriorating not only due to sanctions but also due to a number of other factors, including issues concerning property rights. Separately, Mr. Kostin expressed hope for the establishment of a cross-border settlement system in digital rubles, acknowledging that a streamlined system has yet to be built with partners.

The forum also featured discussions on anti-fraud regulation, the evolution of banking oversight, the platformization of the financial market, open APIs and artificial intelligence, the secondary market for credit risk, and the protection of financial service consumers' rights. Prime Minister Mikhail Mishustin sent a greeting to the participants, highlighting the importance of balancing innovation with regulation, and technology with consumer protection. He identified the rollout of the digital ruble and the Faster Payments System as the main drivers of change.

For the FBA EAC, the outcomes of the forum provide several practical guidelines. First, the digital ruble is transitioning fr om the experimental phase into the real economy, making cross-border settlements based on it a central issue for the BRICS and EAEU countries. Second, the investment climate and the influx of capital from China and Arab countries represent an agenda area wh ere the FBA EAC can act as a vital link between businesses and financial institutions. Third, discussions on the regulation of digital assets and payment systems directly intersect with the objectives of the Moscow Forum "BRICS: New Horizons of Partnership," wh ere these topics will be further explored on November 26.