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19 April 2023, 13:47

Belarusian banks stimulated to expand investment activity

MINSK, 19 April (BelTA) – Belarus will continue to stimulate banks to expand support for investment activity, Chairman of the Board of the National Bank Pavel Kallaur said as he spoke at a joint sitting of the House of Representatives and the Council of the Republic of the National Assembly of Belarus on 19 April, BelTA has learned.

"Banks will continue to be stimulated to expand support for investment activity in the country. Priority will be given to effective projects and also to export promotion and import substitution," Pavel Kallaur said.

According to him, systemic work will be continued to improve legislation in the field of regulation of the activities of banks and non-banking organizations. "Among the priority areas is the reducing of liability of borrowers for improper fulfillment of obligations under loan agreements and also providing full disclosure and transparency of lending terms to individuals," the head of the National Bank said.

The main focus in terms of the payment market will be the incentives for new types of payment instruments and means of payment, new types of payment services by non-banking organizations, effective mechanisms and tools to counter cyber threats and fraud.

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