Procedure for appointment and dismissal of chair and members of the National Bank’s Board has been changed

On November 14th, the President of Belarus, Aleksandr Lukashenko, signed Decree No. 353, envisaging bringing the National Bank’s Charter into compliance with the Constitution of the Republic of Belarus, as well as into compliance with the laws On Amendments to Laws on Banking Issues (dated July 12th, 2023), On Payment Systems and Payment Services (dated April 19th, 2022) and On Public Service (dated June 1st, 2022) – as reported by the Belarusian leader’s press service

The decree clarifies the procedure for appointing and dismissing the Chair and members of the National Bank’s Board, adjusts provisions relating to issues of accounting and preparation of financial statements, and clarifies the National Bank’s functions in state regulation of rating activities. Certain functions already enshrined in the Banking Code are excluded from the National Bank’s Charter.