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30 October 2019, 17:49

Belarus, Russia agree on approaches to integration in finance

MINSK, 30 October (BelTA) - The National Bank of Belarus and the Central Bank of Russia agreed on approaches to the deepening of the integration between the two countries in the financial markets at the meeting of the Interbank Monetary Council, BelTA learned from the information and public relations department of the National Bank.

The meeting in Minsk was attended by Chairman of the Board of the National Bank Pavel Kallaur and Chairperson of the Bank of Russia Elvira Nabiullina, other representatives of the central banks of the two countries.

"The parties, in particular, endorsed the plans to harmonize the approaches to certain issues of monetary policy and macroprudential regulation, monetary regulation and currency controls, information security requirements in the financial sector, protection of the rights of consumers of financial services and investors, and other areas,” the National Bank said.

The Interbank Currency Council of the National Bank of the Republic of Belarus and the Central Bank of the Russian Federation was established in November 1999. The council prepares intergovernmental agreements on banking activities, harmonizes the regulatory frameworks of the financial and banking sectors in order to enable equal conditions for commercial entities of the two countries, and also draws up recommendations on coordinated monetary and foreign exchange policies.

Photos by Oksana Manchuk

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