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26 November, 17:08

When did it become legal to establish private commercial banks in russia?

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  1. 26 November, 17:15
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    According to the book Petrostate: Putin, Power and the New Russia by Marshall Goldman, it became legal to establish private commercialized banks in 1987, wherein the capital requirement was of $750,000. The non-spetbanks, which appeared after the announcement of the Law on Cooperation in1988 and registered before 1991, and the new banks which were registered after 1991 all function as private commercialized banks.
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