Putin allows Russian American Express Bank to voluntarily liquidate

MOSCOW. May 23 (Interfax) - President Vladimir Putin has granted permission for American Express Bank LLC, the Russian operator of the American Express payment system, to voluntarily liquidate as prescribed by Russian law, an order posted on the website for laws and regulations showed.

American Express Bank LLC has a basic license to conduct banking operations with funds in rubles and foreign currency, without the right to take retail deposits, collect cash, promissory notes, payment and settlement documents or provide cash services for individuals and legal entities. It also does not have the right to conduct banking transactions with precious metals.