MINSK, 9 September (BelTA) – Belarus will not allow banks to mistreat customers under false pretexts, such as refusing to exchange old U.S. dollar bills, Belarusian President Aleksandr Lukashenko said at a meeting with the management of Belarus’ National Bank and heads of commercial banks on 9 September, BelTA has learned.
The head of state noted that, overall, the situation in the monetary sector and the foreign exchange market does not raise concerns. However, there are certain shortcomings that need to be addressed. In particular, Aleksandr Lukashenko mentioned complaints from Belarusian citizens about banks: instances where old dollar bills are refused, or where insurance services are forced upon customers.
“Let us agree that, as from 1 January 2026, any such instances will automatically lead to disciplinary action against the head of the bank,” the president emphasized. “It is unacceptable to mistreat people with these invented pretexts. There is no need to show that you are smarter than others.”
The president also drew attention to the fact that bank profits are sometimes used for purposes other than intended, and such facts are revealed during inspections.
It happens that credit brokers work undercover, just like spies: they provide computer services, credit history decryption services.
“Has the National Bank loosened its grip on regulating bank earnings?” the head of state asked.
Furthermore, the issue of protecting the citizens’ interests when issuing mortgage loans to individuals remains unresolved. There are known cases where people practically ended up on the street after taking out such a loan, the president mentioned.
“There are gaps in the regulation of leasing services,” he continued. “Leasing companies evade restrictions on the size of advance payments and reserve the right to unilaterally change the size of payments. We must put an end to this.”
Among the shortcomings, the president also outlined problems with conducting cross-border payments.
According to him, facts of internal and external fraud in the banking system are also revealed during inspections. “Criminal cases have been initiated against bank owners for tax evasion, for evading duties,” the president cited examples. “Crimes related to the illegal obtaining of loans based on documents containing false information are systematically identified.”
The head of state noted that, overall, the situation in the monetary sector and the foreign exchange market does not raise concerns. However, there are certain shortcomings that need to be addressed. In particular, Aleksandr Lukashenko mentioned complaints from Belarusian citizens about banks: instances where old dollar bills are refused, or where insurance services are forced upon customers.
“Let us agree that, as from 1 January 2026, any such instances will automatically lead to disciplinary action against the head of the bank,” the president emphasized. “It is unacceptable to mistreat people with these invented pretexts. There is no need to show that you are smarter than others.”
The president also drew attention to the fact that bank profits are sometimes used for purposes other than intended, and such facts are revealed during inspections.
It happens that credit brokers work undercover, just like spies: they provide computer services, credit history decryption services.
“Rising commission fees charged by banks also remain uncontrolled for now. One must strive for benefit through fairly. One cannot think exclusively in terms of profit,” Aleksandr Lukashenko stressed. “Do not forget that we have about 2.5 million pensioners in the country. About 2 million people live in rural areas.”
“Has the National Bank loosened its grip on regulating bank earnings?” the head of state asked.
Furthermore, the issue of protecting the citizens’ interests when issuing mortgage loans to individuals remains unresolved. There are known cases where people practically ended up on the street after taking out such a loan, the president mentioned.
“There are gaps in the regulation of leasing services,” he continued. “Leasing companies evade restrictions on the size of advance payments and reserve the right to unilaterally change the size of payments. We must put an end to this.”
Among the shortcomings, the president also outlined problems with conducting cross-border payments.
“In addition to the challenges of navigating international payment routes, there is an organizational problem when enterprises are forced to find their own settlement solutions. With such a huge staff at the National Bank – and you have more than 660 people which is three Belarusian governments – can’t you allocate a team for this task?” Aleksandr Lukashenko said.
According to him, facts of internal and external fraud in the banking system are also revealed during inspections. “Criminal cases have been initiated against bank owners for tax evasion, for evading duties,” the president cited examples. “Crimes related to the illegal obtaining of loans based on documents containing false information are systematically identified.”
The head of state warned that such things are utterly unacceptable. “Banks and non-bank credit financial institutions must be honest, operate exclusively in compliance with the law, in the interests of the people and the country.”
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