Lukashenko signs decree on regulation

On December 16, 2024, the President of the Republic of Belarus, Alexander Lukashenko, signed the decree "On Regulation of Banking Activities." The decree changes the composition of sources funding bank expenditures for the acquisition and modernization of fixed assets. These sources now include funds formed from profits remaining at banks' disposal after payment of taxes, fees, and other mandatory payments to the republican and local budgets. Foreign loans are excluded from the sources for acquiring fixed assets. The decree also establishes the procedure for the creation and use of founding funds as determined by the National Bank. The decree repeals Decree No. 271 dated May 15, 2008.

The signing of the decree became another step towards improving financial regulation aimed at ensuring more transparent and stable development of the banking sector.

Context

Decree No. 271 dated May 15, 2008, regulated banking activities, but in recent years, areas for improvement were identified in its provisions.