The National Bank of Belarus to take extra measures to develop Belarus financial market

         The government and the National Bank of the Republic of Belarus intend to take additional measures to develop the country’s financial market. The statement was made by Chairwoman of the Board of the National Bank of Belarus Nadezhda Yermakova.
According to her, it is necessary to take a closer look at the financial market. It is necessary to legislate the operation of several segments, for instance, microfinancing and consumer cooperatives. Individual laws are required for leasing, factoring, and forfeiting. The matter is being discussed with the government and the Finance Ministry, she said.
        “We have reached an agreement that the Finance Ministry will continue taking care of the insurance market and securities while the NBRB will take care of the products with more affinity to the banking system,” Nadezhda Yermakova said. The official said the changes were required to streamline the operation of the financial market.
Earlier Sergei Dubkov, Deputy Chairman of the Board of the National Bank of the Republic of Belarus, said that it was necessary to bring about a more clearly cut system to regulate and supervise all segments of the financial market. “The development of the financial market of Belarus is the key goal”, he said.