By a decree of the President in Belarus, the activities of banks have been further regulated.
The President of Belarus, Alexander Lukashenko, signed decree No. 435 "On the Regulation of Banking Activities" on December 16. This was reported by BELTA from the press service of the Belarusian leader.
The document changes the composition of sources of financing for banks' expenses on the acquisition (modernization) of fixed assets. Such sources include funds formed from profits that remain at the disposal of banks after the payment of taxes, fees (duties), as well as other mandatory payments to the republican and local budgets. At the same time, foreign loans are excluded from the sources for the acquisition (modernization) of fixed assets.
The document also establishes that the creation and use of funds by banks, formed from profits, is carried out in the manner determined by the National Bank.
With the adoption of this decree, decree No. 271 of May 15, 2008, is recognized as having lost its force.