Yakov and Partners - In the media

Although the dollar remains the key global settlement and reserve currency, there are more and more indicators that global central banks are looking for alternatives, as evidenced, in particular, by central bank gold buying, emphasizes Ilya Ivaninsky, Expert Partner at Yakov and Partners and Director of the Center for Business Education and Analytics at Central University

Russia presents its vision of the future global financial system. The alternatives include developing a network of commercial banks that can conduct such transactions in local currencies as well as establishing direct links between central banks, according to a report prepared by the Russian Finance Ministry, the Bank of Russia and Yakov and Partners

Bank deposits and growth accounts took over from cash as the preferred type of savings, says Elena Kuznetsova, director of the Yakov and Partners Institute for Economic Research. These findings stand in contrast to the results of a similar study conducted 1.5 years ago. It is expected that older generations save more than younger generations. However, it is somewhat surprising that people with average income save the most, at 67%

A company can use two types of resources for making investments: its own funds and borrowed funds. However, due to the current high interest rates, borrowing has become an expensive option for companies. This is true for both loans for investment purposes and bonds, according to Ilya Ivaninsky, expert partner at Yakov and Partners and director of the Center for Business Education and Analytics at the Central University

A more reliable approach would be to communicate with banks directly, rather than through cards. In this system, any card — VISA, Mastercard, MIR or UnionPay — serves only as a way to identify the customer. Making BRICS Pay operational requires joint effort of many parties, i.e. not only domestic banks and regulators, but also their counterparts in other countries where BRICS Pay will be implemented. Ilya Ivaninsky believes that only a consortium would we be able to build an effective system

Businesses are now actively pursuing revolving credit facilities — loans designed to replenish their operational funds, such as for vendor payments or employee compensation. As working capital costs continue to grow, lending remains a sought-after tool among domestic businesses. Such loans are short-term (compared to capital projects), and companies have the opportunity to refinance them once the base rate is lowered, explains Ilya Ivaninsky

Ilya Ivaninsky, expert partner at Yakov and Partners and director of the Center for Business Education and Analytics at the Central University, explains that fintechs are the main way of monetization within ecosystems around the globe. For example, the South Korean IT giant Kakao generates most of its revenues through its bank; financial services also add nicely to Apple's revenues

Declining transparency of certain types of information is a global trend, says Ilya Ivaninsky, expert partner at Yakov and Partners and director of the Center for Business Education and Analytics at the Central University. He cited China as an example, where from May 1 on, companies will be obliged to protect data "that are not state secrets but will cause certain adverse effects if leaked"

A joint study by Yakov and Partners and the Central University finds that the annual economic effect from the introduction of the digital ruble may amount to RUB 328 bn.Experts suggest that there is currently a foundation in the country for the widespread adoption of a digital Russian currency. The currency has been tested in pilot projects with 13 major Russian banks