Lukashenko wants ‘legal track' for Belarusian banks ready by June

Belarus President Aleksandr Lukashenko gave instructions to submit proposals on legal aspects of the work of banks during the government conference held to discuss the state of affairs in the banking industry, BelTA has learned.

Aleksandr Lukashenko said: “Today I've made this decision and the State Control Committee will soon analyze the situation in banks and will clearly state what is allowed and what is not. And the banking community, the specialists you will involve in the development of these decisions in order to work out concrete proposals for making decisions. I want these proposals on my desk by June. All of it has to be done.”

The president said that the State Control Committee had been recently instructed to check the state of affairs in private and state-run banks and detect negative trends. “It turns out that all our banks have shortcomings. And we make an unambiguous conclusion that we don't manage the banking system well,” he stated. “We have not created some legal track for them, along which they should develop, follow certain norms, rules, and laws without leaving this track. Then it turns out that [the former head of BelVEB Bank Vasily] Matyushevsky did the wrong thing or [Chairman of the Board of the National Bank Pavel] Kallaur went the wrong way and so on.”

Written by: belta.by