NBRB to be vested with leasing management functions

       There are plans to vest the National Bank of the Republic of Belarus (NBRB) with the authority to coordinate leasing activities in the country, Premier Mikhail Myasnikovich said at the government meeting to discuss the development of the industrial complex and realization of the Belarusian output.
The PM pointed to the need of improving leasing schemes and making the use of such instruments in export sales as delay in payment, which is actively used by foreign companies.
      With this, the function to coordinate the leasing activity in the country will be handed to the central bank. The relevant draft decree will be soon submitted to the President.
       Apart from that, there are plans to intensify the activity of leasing companies, OAO Promagroleasing in particular. According to the government, the monopoly of the Eximgarant of Belarus in export insurance should be reduced. The right to provide insurance services should be also given the companies with the government share of 50% and more.