Russian PM approves Russia, Belarus, Kazakhstan financial information exchange deal

Russian Prime Minister Dmitry Medvedev has signed a resolution approving an agreement on the exchange of financial information between Russia, Belarus and Kazakhstan, the government said on its website Thursday.

Russian Prime Minister Dmitry Medvedev has signed a resolution approving an agreement on the exchange of financial information between Russia, Belarus and Kazakhstan, the government said on its website Thursday.

"The agreement will contribute to the development of coordinated approaches to the functioning of financial markets in Belarus, Kazakhstan and Russia, as well as the development of a common economic space, including on the basis of establishing organizational and legal conditions at a national and international level to develop integration processes in the financial sector," the message says.

The agreement talks about "exchanging information, including confidential [information], in the financial sector to ensure free movement of capital conditions on financial markets. It is aimed at creating a legal base for efficient information exchange between the authorized bodies of the participant countries on regulating and developing the banking sector, the currency market, insurance market and the market for securities and other financial instruments."

The agreement also details the procedures for exchanging, accessing and storing confidential information, as well as for meetings and consultations to monitor trans-border organizations.

It sets out procedures for placing information on official websites on the degree of integration of financial markets.

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