This article is a review of the textbook “International Financial Law” by V.M. Shumilov and I.M. Lifshitz published by «Justitia» publishing house. The authors argue that the book will undoubtedly draw attention of international law scholars and international lawyers as well as those who take the first steps towards understanding international financial law (IFL). The book is of particular interest because of how Shumilov and Lifshits understand IFL (its scope, subjects, sources etc.) and how they delimit IFL from transnational financial law (lex finanziaria). Some authors’ approaches and conclusions seem to be questionable but at the same time they may become starting points for profound discussion on the structure and the scope of IFL.