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Twentieth International Banking Congress opens in St. Petersburg

25 May 2011 13:07 15
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ST.PETERSBURG. May 25. KAZINFORM The 20th International Banking Congress (IBC-2011) is starting in St. Petersburg on Wednesday to discuss modernization, innovations and investments; Kazinform refers to Itar-Tass.

"During plenary meetings and workshops the participants will discuss modernization of the Russian banking system, the role of banks in innovative economy and their participation in investment projects; risk management, the application of new technologies in the banking business as well as urgent aspects of banking regulation and supervision," the congress's organizing committee told Itar-Tass.

Representatives of both chambers of the Russian Federal Assembly, the Federation Council and the State Duma, the Russian government, the Bank of Russia, international financial institutions, foreign banks, audit firms, consulting and IT-companies and bank associations are traditionally attending the forum.

The first day will offer a busy cultural program. The participants in the congress will have a chance to meet in an informal atmosphere during a sightseeing tour of St. Petersburg and a concert in the Smolnyi Cathedral where the Singing Cappella of St. Petersburg will perform its "Golden repertoire."

The main discussions kick off on Thursday. The leaders of St. Petersburg and the Bank of Russia, representatives of bodies of state power, financiers, deputies and scientists are expected to deliver speeches at the plenary meeting.

Several discussions on international reform of banking regulation, development of national settlement systems and the banking sector's participation in economic modernization will take place on the congress's sidelines.

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