MOSCOW, 27 April (BelTA) – The Board of the Eurasian Economic Commission adopted a recommendation on “Coordinated proposals on harmonizing the legislation of the EAEU member states in the field of admitting banks to the banking services market” on 27 April, the EEC press service told BelTA.
“The document is aimed at creating conditions for the EAEU member states to regulate activities in the banking services market in a coordinated manner,” the EEC explained.
The recommendations have been prepared as part of the implementation of the EAEU Treaty and the plan on harmonizing legislation in the financial sector. “The documents are based on results of a comparative legal analysis of the legislation of the five countries as well as on international standards formulated in the fundamental principles for effective banking oversight of the Basel Committee,” the press service clarified.
The document recommends that the EAEU member states take into account the coordinated proposals for harmonization when preparing drafts of international treaties within the framework of the Eurasian Economic Union as well as when improving their legislation in the banking sector.
“The adoption of the recommendations is a logical step towards the full-fledged launch of the EAEU common financial market. We strive to ensure that EAEU banks wishing to operate across the entire Eurasian space are guided by clear and uniform rules of the game,” commented Bakhyt Sultanov, Member of the EEC Board (Minister) in charge of Economy and Financial Policy.
“The adopted document continues the cycle of recommendations of the EEC Board on the harmonization of financial legislation. In November 2025 the Board approved coordinated proposals for harmonizing the basic concepts and requirements for brokers in the securities market as well as proposals in the field of admitting insurance organizations to the EAEU common financial market,” the press service added.
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