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Development of Proportional Regulation of Professional Creditors in Russia, Brazil, India and Mexico

Yury Kondrashin – Research fellow of the Department for Financial Studies of the Gaidar institute. Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Michael Khromov – Head of Department for Financial Studies of the Gaidar Institute; Senior Research fellow of the Center of Structural Research, Institute for Applied Economic Studies, Russian Presidential Academy of National Economy and Public Administration. Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

At present, the concept of proportional regulation of professional creditors’ activities is increasingly applied by financial regulators in different countries within the prudential supervision frameworks. For the Russian financial system, the experience of countries which are close to the Russian Federation as regards the standards of economic development, economic structure as well as socioeconomic and political conditions is believed to be more relevant.

Key words: мicrofinance, financial inclusion, prudential regulation, risk-based.