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Forex dealers will be able to remotely conclude contracts with clients in Russia




MOSCOW, 15 Jan – PRIME. Forex dealers in Russia have the opportunity to conclude contracts with clients without their personal presence at the company’s office, follows from the message of the Association of Forex Dealers (AFD). “The entry into force of the relevant law provides credit institutions and other organizations carrying out transactions with funds or other property … the opportunity to use the Unified Biometric System (UBS) for remote identification when receiving a wide range of financial services. This allows forex dealers to conclude contracts with clients without them. personal presence in the office of the company, “- said in the message of the AFD. The adoption of this law reflects the desire of the regulator and lawmakers to create the most comfortable conditions for clients – consumers of financial services, and for the financial industry, says the head of the AFD Evgeny Masharov. “The digitalization of many processes in the financial sector creates additional grounds for improving the financial security of our citizens. I hope that this service will become popular and in demand,” he added. Providing forex dealers with the possibility of simplified customer identification through the EBS will greatly simplify the mechanism for opening an account and will enable Russian citizens to make a choice in favor of foreign forex firms to a lesser extent, says Yaroslav Kabakov, Strategy Director of Finam Investment Company. The ability to remotely conclude an agreement with a client, especially during a pandemic, is a positive step towards the client, which removes the barrier between the financial institution and the client, says Alfa-Forex CEO Sergei Nikolyuk. “The next step we see is the possibility of a forex dealer performing simplified identification using the Unified Identification and Authentication System and the Interdepartmental Electronic Interaction System, which are now used by brokers and management companies,” he concluded.

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