site map
Gateway to Russia
 RUSSIA IN FACTS
02 June 2004 17:06
Russian depositors bare bottoms in protest over lost savings
[Presenter] Half-naked people in the centre of Moscow. A protest against the [Russian] Central Bank, which has withdrawn Sodbiznesbank's licence over allegations of money laundering, was held today. The demonstrators decided to use a non-verbal method of expressing their opinion regarding the liquidation of the bank. Vladimir Kobyakov reports from the scene. [Correspondent] Sodbiznesbank's new management has started getting to know its depositors. Since this morning, everyone of the bank's 70,000 customers has had the right to fill out an application. The bank's temporary management requires customers to write who they are and how much money they would like to be returned. People in the queue are filling out the applications in their own way: they also write what they would like to spend their deposits on. [Unnamed customer] They are my last savings that I've put aside for my funeral. [Correspondent] People began joining the queue during the night. People who came in the morning were given a number around the 3,000 mark. [Unnamed customer] I got number 2,917. There's not much point in joining the queue. It's like the old story: either the sultan or the donkey will die first. By the time my turn comes around, a lot might have changed. [Correspondent] By midday another queue had formed at Sodbiznesbank's wall. These people did not have money in the bank, but they drew the attention of all the deposit holders with their actions. [Group of people bare their bottoms] Entertainer Oleg Nazarov coordinated the alternative queue. He said that it was his way of fighting for his mother-in-law who had savings in Sodbiznesbank. [Nazarov] All these bankers, Central Bankers and bastard bankers wanted to strip us of our possessions. Well, here we are stripped bare. They wanted to see us naked and now they can. [Passage omitted: parliamentary official says depositors should have access to information about banks' finances] [Correspondent] The bank's temporary management say on their web site that they will accept all applications from deposit holders. They will then add up the claims and see if there is enough money to pay them. So far the temporary management have received applications from 100 depositors. [Editor's note: the Russian Central Bank withdrew Sodbiznesbank's licence on 13 May over money laundering allegations]
[NTV]
Subscription to the daily news digest
Click here to subscribe to the daily news digest.
You will be able to choose your own topics of interest.
Your e-mail address will be kept confidential and will be used exceptionally for sending you this digest.
MOST POPULAR ARTICLES
MORE OF THE LATEST NEWS

The Expert 200: Precious Metals and Diamonds
The Expert 200: The Timber Industry
Dust in the Wind
How Fast They Grow
Russian lawmakers to fight spam
Taking Inventory of the Republic

No hurry over wholesale power
Gazprom to decide on share liberalization
Russia pays $28.47m to IMF
The former Vice-premier of Chechnya shot down together with his wife
Russian lawmakers to fight spam
Gazprom`s net profit up 64% in 2003
top        Send article by e-mail
Get more info about Russia

Contact Us

© Copyright Gateway to Russia 2003

The site is created and administrated by Expert Group within the framework of exclusive contract with the Financial Times