Rus News Journal

Credit cooperation has merited the right to life

the Chairman of Subcommittee on assistance to development of microfinancing and credit cooperation at Committee Trading - industrial Chamber on business RB Elena Valentinovna AHMETSHINA:

- In the State Duma of the Russian Federation the bills regulating sphere of credit cooperation are introduced. It is the new law About credit consumer co-operative societies of citizens About credit cooperation and amendments to the federal law About counteraction to legalisation (washing up) of the incomes received by a criminal way, and terrorism financing . Their basic purpose is more detailed description of requirements to credit co-operative societies, to protection of interests sberegatelej, to maintenance of financial stability. For the first time requirements to heads of credit co-operative societies both in the professional plan, and concerning reputation are designated.

So, the person having not removed or outstanding previous conviction for crimes in sphere of economy, and also for the crimes of average weight heavy and especially grave crimes cannot be the head, the chief accountant, a member of controls. Besides, co-operative societies will be obliged to inform in Federal Agency of financial monitoring (Rosfinmonitoring) all data on monetary operations. Now co-operative societies will be obliged to insure the professional risks in the insurance organisations (in t. ch. Mutual insurance societies) and to form in co-operative societies top (regional, federal) level funds of protection of savings (reserve, stabilisation). Besides, it is important to know that money sberegatelej the co-operative society has no right to place neither in real estate, nor at a stock exchange but only in loans to the shareholders, and for all financial operations specifications are provided. With introduction in action of laws on credit cooperation the federal authorised body at the Ministry of Finance of the Russian Federation will start to operate. The self-regulation system in this sphere will be provided also. It is expected that in November, 2008 bills will be accepted by the State Duma. However many co-operative societies of Bashkortostan have already started to work over conformity to the future laws.

diligent credit co-operative societies of republic in every possible way support introduction of these innovations. Giving thanks to it Russians will cease to name swindlers all credit co-operative societies, at last. It would be desirable to believe that very soon the financial market and the rules established by the advanced legislation, will not allow to appear to the structures operating by principles of financial pyramids. All it will raise trust from shareholders, after all credit cooperation is based on principles of mutual aid, trust and responsibility. Giving the savings to credit co-operative society, it is important to be convinced of its reliability, reputation and stable work. Together with lawyers familiarise with its documents, how the contract is made. It is important to remember that in a pursuit of the high income always there is a big risk of loss of money.

the POINT OF VIEW

Practically in each area of Bashkortostan the credit co-operative societies organised on classical principles credit to operation operate. For example: personal computer OVK finpo (Meleuz), a handheld computer the Ural national cash desk (Ufa), KPKG KreditTSentr (the item of Chishmy), KPKG Kama (Neftekamsk), personal computer OVK KreditTSentr (Sterlitamak), personal computer OVK Ihlas (Ishimbay) with divisions and others. By the way, the economy and common sense do not allow normal co-operative societies to offer sberegateljam superincomes. After all they should be fulfilled to borrowers. The rate in 40 - 50 % a year (and even in a month!) on savings - an occasion to doubt conscientiousness of the organisation. Be vigilant, do not trust the terribly earned means to swindlers. To understand a situation to you the Subcommittee on assistance to development of microfinancing and credit cooperation with which help of Torgovopromyshlenaja Chamber RB will soon start voluntary accreditation of credit co-operative societies will help.