The second meeting of the Tak Force

. On December 19, 2017 the Russian National Committee of International Chamber of Commerce (ICC Russia) held the second meeting of Task Force on blockchain use in trade finance. During meeting the experts initiated a discussion concerning the upcoming amendments to Regulation No. 383- П, issued by Bank of Russia on June 12, 2012. The alterations were expected to provide clarification for the procedures of admitting and executing orders of funds transfer. The multilateral dialogue was followed by the presentations of Tatyana Ivashkova, Executive Director, Head of Documentary Operations and Trade Finance, Raiffeisen bank. Tatiana shed light on the perspectives of digital letter of credit implementation in Russia and complemented her speech with a draft proposal concerning the amendments of Regulation No. 383-P “On the rules for funds transfer”. Afterwards, Alexander Vasilyev, Head of Information Technology, AHML took the floor, sharing the AHML experience in implementing projects based on distributed ledger technology. Zhanna Tomashevskaya, Managing Partner, Tomashevskaya & Partners described the legal aspects of trade finance transactions execution through smart contracts. At the end of the session all participants came to the conclusion to form a working panel in order to work out a draft of proposals for amending Bank of Russia Regulation No. 383- on “The Rules for transfer of funds”.