The Financial Committee recommendations for the Parliament, the Cabinet and the NBU

The Verkhovna Rada Committee on Committee on Financial Policy and Banking recommended that the Parliament, the Cabinet of Ministers and the National Bank take for guidance the draft Strategy for the Development of the Banking System of Ukraine for 2016-2020
Date: May 20, 2016

The Verkhovna Rada Committee on Committee on Financial Policy and Banking recommended that the Parliament, the Cabinet of Ministers and the National Bank take for guidance the draft Strategy for the Development of the Banking System of Ukraine for 2016-2020.

This was reported by Serhiy Rybalka, the head of the Committee and the initiator of the Strategy. The corresponding decision was taken by the Committee at the offsite meeting in Vinnitsa, writes RBC-Ukraine.

The member of the Radical Party, Serhiy Rybalka, expressed the hope that the Government will take into account the proposals prepared and supported by such a wide range of specialists: domestic and foreign bankers, experts and scientists, both in terms of reforms for this year and as the medium-term action plan, which is to submitted by the end of this year.

The Committee also recommended that the Verkhovna Rada accept for review the draft law No. 4529 on stimulating bank lending in Ukraine, the head of the profile parliamentary committee said.

Also, at the meeting the MPs reviewed a set of issues that arose as the draft law on amending certain legislative acts of Ukraine (on regulated markets and derivatives, No. 3498) was finalized for the second reading.

The meeting was attended by the chairman of the National Commission for Securities and Stock Market Timur Khromaev, the chairman of the Vinnytsia Regional State Administration Valery Koroviy, the chairman of the Vinnytsia Oblast Council Anatoly Oliynyk, the deputy chairman of the Vinnytsia City Council for Financial Issues Galina Yakubovich. The Draft Strategy was also approved at the All-Ukrainian Scientific and Practical Forum, which was held May 19-20 in the premises of the Kyiv V. Getman National Economic University.

As reported, on April 18 the head of the Verkhovna Rada Committee on Financial Policy and Banking Serhiy Rybalka presented the Draft Strategy for the Development of the Banking System of Ukraine for 2016-2020 for public discussion and finalization. The draft was created by the working group, which included the monetary, currency and banking regulation experts, banking business professionals, representatives of public and scientific organizations.

The draft outlines the ways of overcoming the existing crisis, creating prerequisites for the stability of hryvnia and the banking system, boosting confidence in the regulator, and building a system of incentives to accelerate economic growth.

The priorities for the next 4 years include the changes in monetary policy towards promoting economic growth, transformation of the state-owned banks into drivers of economic growth, changing the structure of the national economy and stimulating the export of high-tech commodities and high level services, attracting foreign capital as part of the national economic policy, and increasing the effectiveness of international assistance. The objectives of the strategy are to improve the quality of the National Bank's policy, confidence in the regulator, banking system and hryvnia, development of a competitive market for banking services and stimulation of lending to the real sector of the economy.

Source: obozrevatel.com
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