Finance and banking system.

Yamalo-Nenetsky Autonomous District has a well-developed finance and banking system. Since January 1994 in Salekhard the Department of the Central Bank of Russian Federation is functioning. Its activity contributes to the acceleration and regulation of money operations in Autonomous District. The wide network of cash-account centres of the Central Bank was formed in the towns Salekhard, Labytnangi, Nadym, Noyabrsk, Novy Urengoi, Gubkinsky and Muravlenko and in the urban-type settlements Urangoi, Tarko-Sale, Tazovsky and Krasnoselkup.



To the beginning of July 1997 nine commercial banks and 30 branches of credit organizations (not counting the branches of RF Central Bank) were registered in Autonomous District. Commercial banks and branches of credit organizations do not reduce their activities to the administrative centre - Salekhard - but spread to all towns and urban settlements of Autonomous District. Apart from two joint-stock centres ("Noyabrsky gorodskoi bank" and "Noyabrskneftekombank"), the others are shareholding banks. The total stocks of credit organizations on July 1, 1997, were equal to 29 863 530 thousand roubles (on July 1, 1996, - 19 737 820 thousand roubles; growth - 51%).

The largest gas and oil extracting companies are the chief clients of commercial banks in Autonomous District. Thus, the credit organizations of YaNAD work first of all with the real production sector of economy.

Western-Siberia Commercial Bank has the most widespread network of branches on the territory of Autonomous District. This bank was created on the basis of Tiumen Regional Department of Promstroibank of the USSR and inherited its regional network (10 branches). In YaNAD there are also the branches of some other banks from Tiumen, Surgut, Nizhnevartovsk, Ekaterinburg, Omsk, Kaluga and Moscow. The presence of these banks, on the one side, ensures the rapidity of bank operations with other regions of Russia, and on the other hand - ensures the competition between banks and the diversification of banking services. First of all it may be referred to Nadym, Noyabrsk and Novy Urengoi - each of them has five or more branches of various banks. The development of correspondence relations between the credit organizations of Autonomous District and those of other regions as well as the creation of banking systems also contribute to the close inter-regional contacts' establishment. Thus, the banks of Nadym take part in the All-Russian system of smart cards payments "Golden Crown".

Three commercial banks of Autonomous District have licences for the operations in foreign currencies. The branches of some non-local banks also carry out similar operations.

As for the operations with precious metals, in July 1997 none of the credit organizations on the territory of Autonomous District had licence for this kind of activity.