SES common financial market by 1 January 2020

Today the development of a common integrated financial market and liberalization of the capital flow comprise important component parts of integration processes. Without them a full-fledged functioning of the Single Economic Space (SES) is impossible. The statement was made at an extended meeting of the Board of the National Bank of Belarus.

 

 

Prospects of financial sector amid its liberalization and the development of the Eurasian Economic Union were one of the issues that topped the agenda of the meeting. “It has been emphasized that integration of financial markets of the Eurasian Economic Union member states is possible only given a harmonized and unified legislation in the financial sector, mutual recognition of licenses, certificates and other permits issued for operations on the financial market as well as requirements to disclosure of information by market participants, protection of rights and legal interests of all participants of the financial market, including consumers of financial services and investors,” the central bank said.

 

 

On the whole, the establishment of the common financial market which is to be completed by 1 January 2020 will be held in three stages.

 

 
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