Showdown in Kazan between Officials and Angry Depositors

Tatfondbank Depositors Protest in Kazan
RBC
March 4, 2017

On Saturday, March 4, depositors of Tatfondbank, whose license has been revoked, held a protest rally outside the Republic of Tatarstan’s government house. The protesters presented Ildar Khalikov, the republic’s prime minister, with a petition demanding the government challenge the Russian Central Bank’s decision to revoke the bank’s license and compensate depositors for their losses. The depositors gave the authorities three days to think it over. Otherwise, they will call for the republic’s president and cabinet to resign. Tatfondbank’s license was revoked on March 3.

Translated by the Russian Reader. See the rest of Mikhail Zakharov’s photoreportage here. For more information on the Russian Central Bank’s recent crackdown on insolvent banks, see Evgeniya Pismennaya and Gregory White, “Russia’s Central Banker Is on a Tear,” Bloomberg Markets, February 14, 2017. Thanks to Sean Guillory for the heads-up on the Bloomberg article