10 October 2016

Belarus' National Bank devising financial market development strategy up to 2020

The National Bank is working on a financial market development strategy up to 2020, First Deputy Chairman of the Board of the National Bank Taras Nadolny said at the conference "The Role of the Export-Import Agency in the Belarusian Economy" on 7 October, BelTA has learned.

The National Bank is drafting a financial market development strategy up to 2020. This strategy will be aimed at gradual increasing the use of market mechanisms in financing the activities of institutions, ensuring the development of the securities market, promoting the development of non-bank financial institutions and the insurance sector," Taras Nadolny said.

The draft strategy also provides for the development of digital banking.

Taras Nadolny recalled that the interbank identification system was launched in Belarus on 1 October. According to him, this is a significant step in the development of the banking industry.

BELARUSIAN NEWS