This is a strange article because it apparently avoids issues in Russia regarding central banking that we and others have reported on in the recent past.

The profile of this central banker is essentially adulatory and thus provides us with more questions than answers as it doesn't mention that Putin seems embarked on a course to replace his current Western-initiated monetary system. What an essentially vacuous article it is …

The individual in question, we are informed, is small, female and incredibly disciplined. As with Janet Yellen, it is not her gender that makes the difference, but the breadth of her knowledge, her determination, her honesty, her intellect and the respect she creates.

One would hardly believe she was in the business of debasing money and ruining Russia gradually. Certainly the article provides an alternative viewpoint.

More:

Today, after an unprecedented three-year purge of the dark corners of Russian finance, that number is down to "no more than about 10", Ms Nabiullina says. And she is only just getting started.

"What pleases us is that people are realising that punishment is inevitable for those who don't respect the law," the central banker, praised recently by President Vladimir Putin for her "energetic efforts [against] banditry", tells the FT in an interview in her neoclassical Moscow headquarters, across the street from the Bolshoi Theatre.

"Unscrupulous bankers are being punished and going to prison, and it's very important to avoid that happening again."

Outwardly, little about the mild-mannered 52 year old marks her out as a crusader against financial malpractice. Since taking over, she has shut down 276 banks and put a further 28 through the regulator's financial rehabilitation programme.

An ethnic Tatar and opera lover who can recite French poetry from memory, she served as economy minister before Mr Putin chose her as a compromise candidate to lead the central bank in 2013.

According to Financial Times under Elvira, "The banking system has fully returned to profitability." Exactly what that means is difficult to understand. Can't most large countries print a lot of money at will without an immediate, overwhelming impact on price inflation?