Draft Law "On banks and banking activities" to have new edition
The Central Bank held a round table discussion on the Draft Law "On banks and banking activities " in the new edition, on February 13-14.
The Central Bank held a round table discussion on the Draft Law "On banks and banking activities " in the new edition, on February 13-14.
The draft was developed in cooperation with the World Bank, taking into account the Basel principles of effective banking supervision, best international practice, and implies changes significantly different from the current banking legislation. In particular, it provides for such innovations as strengthening the powers of the regulator, the establishment of increased requirements for proper compliance control of investors, the use of reasoned judgment and early response measures in the implementation of risk-based supervision.
As a result of the discussion, it was agreed that it is necessary to continue work on bringing the draft in line with the concept of improving law-making and its revision, taking into account the comments and suggestions of representatives of departments.
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